Rivercity Marketplace (formerly O’Fallon Walk) is a 158,324 square foot grocery anchored retail center featuring a complimentary lineup of category-leading retailers in a rapidly growing submarket of St. Louis, Missouri. Rivercity Marketplace also features Fresh Thyme, bringing the first specialty grocer to the area.
PEBB acquired O’Fallon Walk three years ago. At the time of purchase, the center was 60% occupied, including several box space vacancies. After a major redevelopment, PEBB rebranded the center River City Marketplace and secured leases with Fresh Thyme, Ross Dress for Less and others, boosting its occupancy to 98%.
The stable real estate investment opportunity that both these centers offer is clearly attractive to certain types of investors. And with such high population growth, the retail demand will continue to grow for both customers and tenants.