Ziff Properties sells Roosevelt Gardens – Norfolk, VA
July 20, 2017
Ziff Properties, Inc. today announced the disposition of Roosevelt Gardens Shopping Center located in Norfolk, VA. The retail property sold for $10.2 million to Coastal Equities Real Estate, LLC located in Florida. A team of brokers from CBRE’s Charlotte, Charlottesville and D.C. offices represented Ziff Properties in the transaction.
Ziff Properties will redeploy the proceeds through a currently unidentified 1031 exchange.
Chief Operating Officer and Director of Acquisitions, Christian Chamblee says, “After nearly 2 decades of ownership and accretive improvements to the center, the sale of Roosevelt Gardens was well-timed in relation to the company’s goals.”
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 3,000,000-square feet portfolio includes shopping centers, office buildings, and self-storage facilities. Founded by Stephen Ziff in 1992 along with CEO Tim Walter, the company has purchased more than 6 million square feet of commercial property. With more than 500 commercial 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.
