Although neither company disclosed details of the deal, officials in the Boca Raton office of Holliday Fenoglio Fowler confirm the Atlanta-based developer obtained a 20-year, fixed rate mortgage on the 192,187-sf site at 1279-1401 W. Palmetto Park Road. Holliday Fenoglio wouldn't disclose the interest rate.

"What attracted Jefferson Pilot Life to this investment was Selig's outstanding reputation, K-Mart's recent renovation and expansion, and one of the top stores in the Publix supermarket chain," Michael Kavanau, senior managing director of the Holliday Fenoglio Fowler office in Boca Raton, who brokered the deal, says in a prepared statement.

Besides its commercial real estate interests, the family owned Selig firm is publicly known for its involvement in philanthropic matters. The firm's chairman, president and chief executive office, S. Stephen Selig III, also serves as the consul for Denmark's Royal Danish Consulate in Atlanta.