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Wednesday, 27 November 2013 06:06

For Sale: Shuttered Crestwood Mall

   A once-bustling Crestwood mall will likely never see shoppers again.  
 
   After a failed effort to secure tax incentives to revamp the former Crestwood Plaza,  its owners are walking away from redevelopment plans and putting the property up for sale.  The St. Louis Post-Dispatch reports that Chicago-based Centrum Partners and co-owner Angelo, Gordon & Co., a New York-based hedge fund, have contracted CBRE, a commercial real-estate firm, to sell the 47 acre site along Watson Road.  
 
   It'll be up to the buyer to decide, but the old mall will likely be raised.  A CBRE broker who's handling the sale, told the paper the site offers a good opportunity for a hospital or university to build a new campus.
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