Poag Development acquires super-regional mall outside of Grand Rapids
Poag Development Group, which has been a determined acquirer of large retail properties since forming an alliance with JLL in 2022, has purchased a super-regional mall in the western suburbs of Grand Rapids.
When it was opened by General Growth Properties in 1999, the 1.3 million-sq.-ft. RiverTown Crossings was one of Michigan’s largest malls. It held 130 tenants and was anchored by Sears, Hudson’s, Macy’s, Kohl’s, Younkers, JCPenney, and Galyan’s. Only Macy’s and Kohl’s remain.
“We always start with location, and in this case, we love the site in Grandville and its strong position within the greater Grand Rapids area,” said Poag Development CEO Josh Poag. “This property has so much potential for redevelopment given its great location and proximity to rooftops. We are energized about the opportunity to reimagine the property, both inside and outside, and its role in the greater Kent County area.”
Poag Development aims to revitalize RiverTown Crossings through redevelopment by adding new uses and activating parking fields. The Memphis-based developer stated that it will work in concert with JLL to maximize the potential of the property.
RiverTown Crossings was one of the first major developments in the western suburbs of Grand Rapids at the time of its opening and sparked the creation of a retail and food-and-beverage zone off of U.S. Route 131 in Grandville.
Last December, Poag Development acquired the 847,000-sq.-ft. Oak Court Mall in its headquarters city of Memphis after it had gone into foreclosure. The company is engaged in developing plans to transform it into a mixed-use center.
“I’ve had my eye on this property for more than 10 years. I see such strong potential for the mall to become a lifestyle-driven mixed-use center to better serve our local community,” said Poag. “We are thrilled about the opportunity to deploy our redevelopment expertise to bring further value to the property located in our own backyard.”
