Miami, FL – September 2, 2011 – (RealEstateRama) — CB Richard Ellis (CBRE) facilitated the sale disposition of two neighborhood shopping centers; Riviera Square in Riviera Beach and Sample Plaza in Pompano Beach, on behalf of Kimco Realty Corporation affiliates. Both properties were acquired on August 19, 2011 by MYA Properties LLC for an undisclosed price.
Riviera Square totals 46,107 square feet and is anchored by a new 20,707-square-foot dd’s DISCOUNTS (a division of Ross Stores) and a 12,000-square-foot Goodwill store. The property opened in 1967 and has been substantially renovated, exceeding the quality of many of the competing retail centers. At the time of closing,
Rivera Square was 90% occupied.
Sample Plaza is a 63,613-square-foot neighborhood shopping center anchored by a 16,605-square-foot Save-A-Lot grocery store and an 8,990-square-foot Dollar General store. The property also opened in 1967 and has since been substantially renovated. Sample Plaza was 72% occupied at the time of closing.
David Donnellan and Todd Weintraub of CBRE’s Private Capital Group along with Dennis Carson from CBRE’s National Retail Investment Group represented the seller in both transactions.
REDACTION FROM RELEASE:
Located at 2911 Grand Avenue in Coconut Grove, Mayfair in the Grove is a 267,175-square-foot retail/office property with such acclaimed tenants as SONY Music, Miami Conservatory of Music, and Leo A Daly. Situated on the cross streets of Grand Avenue and Virginia Street, Mayfair in the Grove is located close to Downtown Miami, Coral Gables, and is within minutes to US-1.
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2010 revenue). The Company has approximately 31,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.
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