Mary Esther, FL, July 21, 2023 – In 1976 Jim Wilson & Associates built the mall which at the time included Sears, Gayfers, and JC Penney. A wing anchored by McRae’s was added in 1984; the store became Belk in 2006 and Gayfers became Dillard’s in 1998. Over the years retail trends changed forcing the owners to reconsider the Mall’s future.
“With the growth of the Florida Panhandle, Eglin Air Force Base, and Hurlburt Field, we feel that the timing is right to develop this multiple-use strategy in partnership with the City of Mary Esther and Okaloosa County,” says Radiant Managing Partner David Schonberger. “The success of Renaissance at Santa Rosa, our first phase of residential, has shown us that the demand for modern living will continue to grow and we want to provide residents access to work and entertainment as well. Offices and reimagined retail will contribute to our overall goal of a live-work-play destination.”
The second phase of residential development is expected to begin in the late 4th quarter of 2023. Future development plans are currently underway.
Radiant Partners, LLC was created in 2000 as a venture to purchase and reposition a diverse portfolio of commercial properties including a regional shopping mall, a community center, a technology center, parking facilities, and a downtown office building. Over the next several years, Radiant expanded its portfolio through the acquisition of several retail properties and parking assets. Each of these new projects required a new capital structure, asset strategy, capital improvement program, and hands-on leasing and management program.
Radiant has selected NBI Properties, Inc. (NBI) as a broker to oversee management, leasing, and repositioning. NBI brings over 20 years of experience in brokerage and development services in the Florida Panhandle across all asset classes.