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A former Macy's store in Richmond Heights, Ohio, is set to become a self-storage facility. DealPoint Merrill, LLC, acquired the 162,200-square-foot building, which sits on nine acres at the Richmond Town Square Mall. JCPenney and Sears anchor the center.
The store has been vacant since 2015, and the building is to be redeveloped into a CubeSmart self-storage facility, all except for 30,000 square feet, which will be used for two national restaurants.
“The Macy's building is a notable addition to our climate-controlled self-storage portfolio and an excellent fit for our co-investment and redevelopment projects throughout the United States,” said David Frank, CEO of DealPoint Merrill.
The city’s Planning and Zoning Committee approved a use variance on Nov. 7, after months of public meetings. The conversion is scheduled to begin in the second quarter.
By Brannon Boswell
Executive Editor, Commerce + Communities Today