Already a giant in the commercial property business on St. Thomas and St. Croix, Topa Equities (VI) Ltd. has just entered the St. John market, purchasing Mongoose Junction II near Cruz Bay from T.A. Carter
Topa senior vice president Fraser Drummond said the purchase closed Thursday. He declined to reveal the price.
Glen Speer retains ownership of the original Mongoose Junction, adjacent to Mongoose II. Drummond praised Speer's craftsmanship and Carter's design of the shopping complex.
"We're looking forward to having Glen as a neighbor," Drummond said.
Mongoose II has 19 direct tenants, both stores and offices.
"There will be no changes," to the property, Drummond said. "It's not broken and we don't plan to fix it."
Topa owns numerous commercial sites in downtown Charlotte Amalie and in Christiansted.
