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.”
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