Acquisition Realty & Development, LLC was hired by Lehman Brothers of New York to determine the best use for a vacant 500,000 s.f. Mall built in 1971 in Eau Claire, Wisconsin. It was Acquisition Realty & Development’s determination that the best use of the property would be to raze over 300,000 square feet of the mall creating two separate 90,000 s.f. free standing facilities.
The approval of this plan was fundamental in enabling Lehman Brothers to sell off the two free standing facilities to investors and redevelop the remaining vacant land. The plan opened up approximately 25 acres of vacant commercial land to redevelop into what is currently known at South Point Shopping Center.
South Point Shopping Center is home to Festival Foods Grocery Store, HOM Furniture, United Health Group, Northwestsern Bank, and an additional mix use of restaurant and retail. The occupancy rate of this new development is 97%. The redevelopment allowed Lehman Brothers to recapture millions of dollars from what was a vacant failing mall.