Cleeman and Kaiser of CCIRE sell 234,045 s/f shopping center for $20m

According to Cohen and Co., Inc. Real Estate (CCIRE), Ormond Towne Sq., a 234,045 s/f shopping center has been sold for $20 million.    Michael Cleeman, senior managing director, and Rick Kaiser, senior executive director, of CCIRE represented buyer The Jaffe Corp. and the seller Developers Diversified Realty (DDR), a publicly traded REIT. Located at 1458 W. Granada Blvd., the center is 95% leased.  The property is anchored by a high sales volume Publix Super Market, Bealls, Ross Dress for Less and other national tenants including Dollar Tree, GNC, Hallmark Gold Crown and Jackson Hewitt.