Ziff Properties Sells Berwick Marketplace
July 14, 2014
SAVANNAH, GA – Ziff Properties, Inc. (ZPI) sold Berwick Marketplace for $5.9 million to a private investor out of South Florida. The sale of the 38,368 square foot Kroger shadow-anchored center closed on Monday June 30, 2014. Cliff Taylor and Craig Taylor of CB Richard Ellis represented ZPI in the transaction.
Ziff Properties acquired the center’s non-performing mortgage in 2011. After taking title, ZPI stabilized the center. Christian Chamblee, Ziff Properties, Inc. COO, says, “ZPI continues to be a serious player in the arena of value-add, REO, underperforming and distressed assets. We are pleased with the outcome of this sale and look forward to more high achievement by staying in tuned to trends and cycles.”
About Ziff Properties
Ziff Properties, Inc. specializes in the development, acquisition and management of commercial properties in the Southeastern United States. Based in Mount Pleasant, South Carolina, the Company’s 34-property portfolio includes shopping centers, office buildings, flex centers, light industrial properties, and self-storage facilities. Founded by Stephen Ziff in 1992 along with CEO Tim Walter, the company purchased more than 3.8 million square feet of commercial property. With more than 500 tenants, Ziff Properties’ portfolio contains locally owned and operated businesses as well as national tenants such as Food Lion, Staples, Starbucks and Hibbett Sports. For more information, please visit www.zpi.net.
