Konover South closes $2.25 million, 4.43-acre land purchase

Stuart, Fla. -- Konover South announced the acquisition of 4.43-acres of land for its new 30,587-sq.-ft. Stuart Landings retail center in Stuart, Florida, for $2.25 million.



The center will be located at SE Federal Highway and SE Miami Ave., which shares U.S. 1 access with an adjacent Walmart Supercenter. Stuart Landings will feature a 17,837-sq.-ft. Aldi, a 3,500-sq.-ft. Aspen Dental with additional lease negotiations underway.



“At closing, we were 80% leased, and our active negotiations with national tenants should bring us to 100% shortly,” stated Scott Meyers, senior leasing representative for Konover South. Construction is slated to commence in January and grand openings are set for summer 2016, added Meyers.



Built on a legacy of family tradition spanning three generations, Konover South continues the successful track record of The Simon Konover Organization. Over the last five decades, the Konover organization has been active in the development, acquisition, redevelopment and management of over 140 shopping centers comprising well in excess of 15 million sq. ft. with an enterprise value of over $2 billion. Its portfolio also includes over 2 million sq. ft. of office, over 20,000 apartment units and over 4,000 hotel rooms.