Southpace works with Canadian-based entrepreneur to revive shopping center

By Christen Lewis, Director of Marketing and Research

Mark Gold is making quite an impression on Birmingham residents and all of us at Southpace Properties.

As the new owner of Crestwood Festival Center (formerly known as Eastwood Festival Centre), Gold’s Canadian firm, Skyline International Development, proves they are ready to invest in Birmingham. And Southpace is certainly ready to be a part of the rebuilding effort.

Improvements to the shopping center are already underway. In the first week of new ownership, parking spaces were given a fresh new coat of paint, and four new leases totaling almost 50,000 SF are under negotiation.

Gold is just getting started. Upcoming renovation projects include new landscaping, fresh paint, additional lighting in the parking lot and new signage at the center.

As a proactive means to ensure the safety of shopping center visitors, there will be a Birmingham Police Substation on site and several security cameras installed and monitored 24/7.

Gold says he passionate about helping people open their own business and is willing to take the necessary steps to help make this dream a reality for those individuals.

The Edge 12 Movie Theater reports that total revenue has more than doubled from first quarter 2011 to first quarter 2012. The Edge 12 was also awarded “Best Movie Theater in Birmingham” by The Birmingham News in 2011.

Gold expects to see these types of results with other tenants and to restore Crestwood Festival Center back to the burgeoning retail hub that many of us remember from its heyday.

Parent company Skyline also owns property in Toronto, Las Vegas, Cleveland, St. Petersburg and Los Angeles. In the past three months, Gold has invested $30 million in several commercial real estate properties across the U.S. and is working with Southpace to evaluate other opportunities in the region.

Southpace Properties, Inc. manages and leases the property. David Ashford, CCIM is the leasing agent for the shopping center.

Southpace Properties, Inc. is Alabama’s largest independent commercial real estate firm. Southpace offers commercial real estate services such as office, retail, land, warehouse and industrial sales and leasing, tenant and landlord representation, development, consulting, investment sales, and property management—including asset management and construction management. With nine CCIM designees, Southpace has one of the state’s highest number of CCIM accredited brokers under one roof.

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