The 300,000-sf retail center is 96% leased, with anchor tenants Ross, Petco, Blockbuster and Sears. The spaces occupied by anchors Pavilions and Rite-Aid are not a part of the sale. In total, the offer includes 214,186 sf.
The complex stands on South Street and Woodruff Avenue. "The unique nature of the property is that it has all four corners of the intersections," Reza Etedali, who is brokering the deal, tells GlobeSt.com.
The owner wants to sell off the retail center for internal reasons, says Etedali. With fewer REITS in the market, a smaller investor may be able to snatch up the property, which has a 10-year history of being more than 95%occupied. "This opportunity gives the average investor the chance to buy a well-anchored, very healthy property," says Etedali.
Etedali, of Sperry Van-Ness, is representing the current owner, BHI Dover #7 LLC.
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