Savoy Properties Invests In Iconic St. Louis Movie Theater and Shopping Center
Sappington, MO, January 2, 2022 – Savoy Properties acquires Ronnie’s Plaza from Marcus Theaters. Savoy’s acquisition includes the shopping center, the plaza's parking lots, outlot buildings and an additional two acres of adjacent parking.
“Ronnie’s Plaza has never before come up for sale, but the pandemic created a tough environment for Marcus Theaters. They made the decision to sell off everything but the theater in order to recapitalize and reinvest back into their core theater business. We'll invest in the property, manage the rest of the real estate and work with them on maintenance and upgrades that will mutually benefit the center and the theater,” said Savoy partner Ryan Pennington. “It's the perfect relationship.”
Savoy’s plans include renovation of the existing center, development of the outlots and upgrades that will drive value to the current tenants and neighbors.
The purchase of the landmark plaza adds to Savoy’s portfolio of retail centers along Lindbergh Blvd which also includes the Ritz Center at Lindbergh and Lemay Ferry and Lindbergh Plaza II at 7525 and 7545 S Lindbergh Blvd.
Savoy Properties is a purpose-driven commercial real estate investment, development and management company focused on the acquisition and operation of retail shopping centers, commercial office space, warehouse, industrial and multi-family residential properties in select Midwestern markets.
If you would like more information, please contact Krysta Owings at firstname.lastname@example.org or 314.446.2905.