Million-dollar investment going up in east Pascagoula

Investors have already spent more than $1 million on a new strip mall going into Shipyard Plaza, where Big Lots is one of the anchors.

Shipyard Plaza, the shopping center just west of the Wal-Mart Supercenter, is getting three stores of roughly 8,400 square feet, two of which will house Aspen Dental and AT&T.

What’s left to be leased by the contractor and manager, RCG Ventures Pascagoula LLC, is 2,800 square feet.

RCG Ventures is a privately funded real estate–investment group that acquires and develops commercial real estate in the United States.

City Planner Donovan Scruggs said the city has been working with the developers for a year on site preparation and planning, and set the total costs of the building and build-out of two of the three tenant spaces at $1.06 million.

“Any time you’re able to put new buildings along U.S. 90, that’s a valuable thing,” Scruggs said. The city is limited in space along the major highway because the CSX railroad tracks prohibit building on the south side in the eastern part of town.

RCG said the mall is slated for completion in April or May. And, yes, a tenant is being sought for the third space.

This story was originally published February 23, 2017 at 4:23 PM with the headline "Million-dollar investment going up in east Pascagoula."