Investment Team Sales Crossroads Mall

Paul Ravencraft of the PEC Investment Sales Group sold the final piece of the Crossroads Development project for $3,500,000 to local investment group CRM Properties Group LLC. This piece included 762,532 square feet of improvements on approximately 53.67 acres. Making up the 762,532 square feet were the former JC Penney and Steve & Barry anchors buildings along with the inline mall and the former Ward’s automotive center. This sale was one of four sales completed by Price Edwards for Crossroads Maiden Lane, the owner of the development. Other sales included, a ground lease with two Marriott hotels, the AMC Theater and the former JC Penney automotive center. In total, PEC sold 941,745 square feet on approximately 84 acres for a total of $10,865,000. Price Edwards will continue to manage and lease the property.