London Square Mall Converted To South Point
Location: Eau Claire, WI | Project Type: New Commercial Development
Acquisition Realty & Development, LLC was hired to determine the best use for a vacant 500,000 square-foot mall built in 1971 in Eau Claire, Wisconsin. It was Acquisition Realty & Development that determined the best use for the property was to demolish over 300,000 sq. ft. of the mall creating two separate 90,000 square-foot facilities. This plan enabled the Sellers to sell off the two freestanding 90,000 sq. ft. buildings to investors and redevelop the remaining acres.
The redevelopment plan opened up approximately 25 acres of vacant commercial land that is now known as South Point Shopping Ctr. South Point Shopping Ctr. is home to 88,000 SF Festival Foods grocery store, 90,000 SF HOM Furniture, 89,000 SF United Healthcare, 35,000 square-foot cinema an additional mix of restaurants and retail.
The occupancy rate of this development has remained approximately 95%. The redevelopment allowed the Sellers to recapture millions of dollars from what was a vacant failing mall.