Steerpoint Capital Leads Major Reinvestment at Antelope Valley Mall in Palmdale

Unanimous city council approval, transformational public investment and premier entertainment anchor to drive mall revitalization.

PALMDALE, Calif., Sept. 3, 2025 /PRNewswire/ -- Mershops Antelope Valley Mall and Steerpoint Capital announced today a transformative reinvestment highlighted by Round1 Bowling & Entertainment and a reimagined food court, creating a vibrant new dining and entertainment destination in the region. This reinvestment is the cornerstone of a vision to transform the property into a dynamic, experience-driven location and a regional hub for entertainment, dining and retail.

The project will be supported by a transformational $5 million public investment through milestone-based city funding, ensuring results that directly align with community priorities. Steerpoint secured a unanimous vote in support of the public investment from the Palmdale City Council.

"This reinvestment marks an exciting new chapter for Palmdale," said Mayor Pro Tem Laura Bettencourt. "The Antelope Valley Mall has always been a cornerstone of our community, and with these enhancements it will once again serve as a vibrant gathering place for families, visitors and residents across the region. By partnering with Steerpoint Capital, we're not only revitalizing the mall — we're creating jobs, boosting our local economy and bringing fresh energy to our city."

At the heart of the plan is the introduction of Round1 Bowling & Amusement, a proven traffic driver that will occupy more than 75,000 square feet of retail space. This entertainment anchor is expected to attract visitors from Palmdale, Lancaster and surrounding communities including Santa Clarita and Mojave. The mall's food court will also be redesigned and enhanced to provide an elevated dining experience for guests.

The reinvestment reflects Steerpoint's dynamic retail mix strategy, which seeks to curate a balanced lineup of entertainment, dining, retail and lifestyle offerings that meet evolving consumer needs. It also underscores Steerpoint's proven dealmaking track record by bringing together landlords, adjacent landowners, tenants and city stakeholders in partnership to create community-driven destinations.

"This investment will create new jobs, increase visitor traffic and position Mershops Antelope Valley Mall as a premier destination in the region," said Bo Okoroji, Founder & CEO of Steerpoint Capital. "From day one, we rolled up our sleeves alongside the City, listened to what the community wanted and structured a plan that elevates the customer experience, strengthens the tenant mix and creates long-term value for our partners and the community."

"The Antelope Valley is ready for a new era of entertainment, and we're here to make it happen," said Jason Jaffe, Director of Leasing & Asset Strategy at Steerpoint Capital. "Our relationship with Round1 Bowling & Amusement is a game-changer—not just for this property, but for the entire community. This is the first step in a larger vision to bring exciting, high-quality experiences, dining and retail to the Antelope Valley. We're building a destination people will be proud to call their own, and this is just the start."

About Steerpoint Capital

Steerpoint Capital is a privately held real estate investment and advisory firm focused on the acquisition, repositioning and long-term transformation of large-scale retail and mixed-use properties across the United States. Founded by industry veteran Bo Okoroji, Steerpoint partners with institutional investors, family offices and developers to unlock value through creative structuring, disciplined asset management and strategic reinvestment. With a growing portfolio of retail destinations and a proven track record in complex transactions, Steerpoint is redefining how legacy assets are reimagined for the next generation of commerce, community and connection. For more information, visit SteerpointCapital.com

About Mershops Antelope Valley Mall

Located in the heart of Palmdale, Antelope Valley Mall is the premier shopping and entertainment destination for the region. The center features more than 140 specialty retailers alongside national anchors including Dick's Sporting Goods, Macy's, JCPenney, and Dillard's. Guests can also enjoy a wide variety of dining options, including Yard House and Blaze Pizza, and a 16-screen Cinemark movie theater, making it a go-to destination for fashion, food, and fun. Since opening in 1990, the mall has served as a central gathering place for Antelope Valley residents and continues to evolve to meet the needs of the community. For more information, visit av-mall.com

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Joey Good
Grapevine Strategies

SOURCE Steerpoint Capital