Crestwood community, we have big news for you about a big investment. The Crestwood Festival Centre was just bought for over $9 million. Keep reading to find out all about this purchase.
A big investment for Crestwood
Some serious cash was just invested in Crestwood. Baltimore-based CityWide Properties just bought the Crestwood Festival Centre for $9,386,943. Marc Tropp, a senior managing director with Eastern Union, helped arrange this purchase, according to PR Newswire. This shopping center includes:
- 299,707-square-feet of retail space
- 44 retail suites
- 980 parking spaces
“CityWide Properties is proud of our record of success in renovating and leasing historic, mixed-use and commercial properties.
Over the years, we’ve forged a productive partnership with Eastern Union that has consistently secured the financing required to make our business formula work.”Steve Verstandig, President, CityWide Properties
What stores are at this shopping center?
From food to clothes to home renovation equipment, there’s a little bit of everything, including:
- Burlington Coat Factory
- Dollar Tree
- ePLEX Magic City
- Honey Baked Ham
- The Edge 12 Movie Theater
- The Home Depot
What can we expect to come to this shopping center?
Last month, when CityWide Properties became owners of the shopping center, there were 15 vacancies. Already, three of those spaces have been filled—talk about fast. These new businesses include two restaurants—Oh Taste and See and a carryout and catering restaurant—and a martial arts studio, according to WBRC.
They’re also talking to a local grocery store chain in hopes of coming to the shopping center in a 20,000 square foot space. We’re excited to see which new business will come to town.