The Florida affiliate of The Simon Konover Co. in West Hartford has purchased a 276,000-square-foot regional shopping center in suburban Detroit, the South Florida Business Journal reports.
Konover South LLC of Deerfield Beach, Fla., FVP Management & Investments of Miami Lakes and Lormax Stern Development Co. of West Bloomfield, Mich., are investors in the Fairlane Green shopping center in Allen Park, Mich., the SFBJ said on its Web site.
The seller was Archon Group, a subsidiary of Goldman Sachs. Terms weren’t disclosed.
The center’s retailers include Barnes & Noble, Bed Bath & Beyond, Michaels, Old Navy, and TJ Maxx.
The center is LEED Gold Certified by the United States Green Building Council.
Konover South owns and manages approximately 2 million square feet of retail space, primarily in Florida.
The principals of Lormax Stern have developed more than 25 shopping centers in nine states totaling more than 3 million square feet.
The partners and executive team at FVP Management & Investments have more than 75 years of combined commercial real estate investment experience.
