Mercury Development traces its roots back to 1933 when it initially operated as a supplier of soda fountain equipment. Over the years, it transitioned into distributing retail store fixtures and refrigeration equipment to the grocery industry, establishing close ties with the sector by the mid-1950s.
Recognizing the opportunity in real estate, the company ventured into developing community shopping centers anchored by larger grocery stores, generating value in both its fixture products and real estate. Southgate Shopping Center, its first development, opened in 1956, paving the way for the creation and management of 27 more shopping centers alongside the acquisition of 7 others. This translated to a significant responsibility of 2.4 million square feet with over 750 tenants under its management.
Subsequently, Mercury Development seized the opportunity to liquidate several shopping centers to deleverage. Today, the company owns, operates, and manages a unique portfolio of assets in the United States, with intentions to expand further through acquisitions and 3rd party management within the Real Estate sector.
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