St. Louis real estate firm sells shopping center during COVID-19

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ST. LOUIS — A Clayton real estate firm credited “resilient fundamentals” for how it was able to sell its 95,852-square foot shopping center in Lake St. Louis during a pandemic that’s devastated retail.

The sale comes amid a challenging retail landscape that’s led to store closures, bankruptcies and lingering consumer preference of e-commerce over brick and mortar, according to a McKinsey survey. Nationally, total retail sales fell 8.1% in the second quarter of 2020, the largest decline since the second quarter in 2009, CBRE research shows.

But for MRP, Breck said Covid has proven his firm has a successful strategy of acquiring retail centers next to Walmart stores, also called Walmart-anchored shadow centers, in secondary markets across the country.

Hawk Ridge is 98% occupied, with a third of the center housing national tenants, including Dollar Tree. Other tenants include Massage Luxe, Fantastic Sams, DeForest Dental, Sally Beauty, Complete Fitness, Subway and BJC Medical Group.



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Editor is WebTech Group (WTG). WTG is a web hosting, design, SEO, press release distribution company and news agency located in St. Louis, Missouri. Site is owned and operate multiple news sites in the region. Our objective with STLNewsMissouri.com is to offer readers a one-stop news site for Missouri news. We aggregate news from news media across the state. We do not aggregate news from all sources. We pick from those that offer RSS feeds and pick the best with eliminating those that might produce the same news stories, written differently.
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