Konover South buys back Florida retail portfolio
Deerfield Beach, Fla. — Konover South has bought back a portfolio of nine Florida retail shopping centers valued at more than $100 million. Konover had previously sold a share of the portfolio to an institutional investment partner. The buy-back returns complete ownership to Konover, which developed or redeveloped the properties over the years.
Peoples United Bank provided $75 million of new permanent financing for the transaction.
Consisting of prime core-plus and value-add properties with anchors such as Publix, Winn-Dixie and TJ Maxx, the portfolio includes Admirals Crossing in Jupiter, Governors Crossing in Tallahassee, Inverrary Falls in Lauderhill, Kendall Square and Kendall Square Office in Miami, Plaza at Davie in Davie, Point Meadows in Jacksonville, Stuart Centre in Stuart and Sunrise Plaza in Sunrise.
Four retailers ink leases for Virginia locations
Virginia Beach, Va. — Dollar General, Lily’s As Seen on TV, Sunrise Pizzeria and General Nutrition Corporation have all signed leases for retail space in Virginia, according to Divaris Real Estate, which represented the shopping centers in the transactions.
Dollar General renewed its lease for 6,720 sq. ft. in the Divaris-leased and –managed Glenwood Shoppes in Norfolk.
Lily’s As Seen on TV inked a lease for 2,144 sq. ft. in the Divaris-leased Valley View Station shopping center in Roanoke. The variety store sells home decor, kitchen and bath products, toys and gadgets.
Sunrise Pizzeria has taken 2,100 sq. ft. in Newport Marketplace in Newport News. Divaris Real Estate leases the center and Divaris Property Management Corp. manages the property.
General Nutrition Corporation has renewed a lease for 1,600 sq. ft. in Parkway Marketplace in Virginia Beach. Divaris Real Estate leases the center and Divaris Property Management Corp. manages the property.
Divaris Real Estate is a member of Realty Resources, a national group of independent retail property brokers and managers, covering 91 major markets throughout the U.S.
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