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2 Shopping Centers Sold for $40M

Jupiter, Stuart Properties Change Hands
By Giuliana Bernales
August 12, 2004 | 8:39 P.M.

A partnership led by The Morris Cos. purchased two shopping centers for a total value of $40 million, about $136 per square foot. Concourse Village is a 128,970-square-foot shopping center in Jupiter, FL. Anchored by TJ Maxx and Ross Dress For Less, it sold 100% occupied. The Wedgewood Commons, a 165,905-square-foot shopping center in the Stuart, FL. Anchored by Publix, it sold 95% occupied. The Terranova team of Stephen Bittel, chairman, and Scott Rohrbach, commercial associate in the Capital Markets Division, represented the seller, a Miami-based partnership between Schiff Properties, Turnberry Associates and Lehman Brothers.

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