The East Coast Retail Investment Team at Lavista Associates Negotiates Largest Sale of Multi-Tenant Retail Center in Jacksonville

ATLANTA - The East Coast Retail Investment Team at Lavista Associates, one of the Southeast’s leading commercial property brokers, based in Atlanta, recently negotiated the sale of Crossroads Square retail center on Blanding Blvd. at I-295 in Jacksonville, Fla.

Whitney Knoll, managing director of The East Coast Retail Investment Team at Lavista Associates and Pierce Mayson, director, negotiated the sale representing the seller, Abrams Properties, Inc. of Atlanta.

Global Fund Investments LLC, a real estate investment company headquartered in Miami Beach, acquired the 174,153 square foot power/community center. The sale represents the largest multi-tenant shopping center transaction in Jacksonville in more than three years.

“It’s always a pleasure to work with such veteran shopping center owners,” Knoll said. The sale was the third transaction Knoll has negotiated on behalf of long-time client Abrams Properties.

Over the past 36 months, Knoll has sold 35 properties in six states in the Southeast, totaling 3.3 million square feet. Property sales have generated more than $400 million in revenues.

Anchored by Floor & Decor, Office Depot, Dollar General and Harbor Freight Tools, Crossroads Square is 95 percent leased. Knoll said Lat Purser and Associates deserves some credit for the sale, as the property management firm has maintained a healthy 91+ percent occupancy at Crossroads Square retail center throughout the recession.

The purchaser assumed an existing Protective Life loan.

* * *

For more information, contact: C. Whitney Knoll, Managing Director East Coast Retail Investment Team, Lavista Associates, Inc. 3105 Northwoods Place, Norcross, Ga. 770-729-2818; wknoll@lavista.com; Kimberly Steele, Lavista Associates, Inc. 770-729-2824; ksteele@lavista.com

About Lavista Associates, Inc.: Serving Atlanta for over 37 years, Lavista Associates, Inc. is one of metro Atlanta’s leading commercial real estate companies, representing clients in the sale and leasing of a broad spectrum of commercial, industrial, office and retail properties. The firm’s goal is excellence of service to its clients resulting in the highest value for their real estate holdings.