The seller was Tampa-based DeBartolo Jensen Beach LLC, which was represented by GVA Advantis executive director Larry Randolph and executive director Brad Luger. The buyer was represented by the Lennox/Massel Cos. The property is located in the southwest quadrant of the intersection of US Highway 1 and Northwest Sunset Boulevard.
The store is located within the Treasure Coast Shoppes, an outparcel of the 861,741-sf Treasure Coast Mall, which was constructed in 2007. The mall is owned by Simon Property Group and has 130 tenants, including Borders Books Music & Café, Dillard's, JC Penney, Macy's, Sears, Old Navy and Charlotte Russe.
ArciTerra is the compilation of CSL Investments LLC and Moynahan Investments LLC. CSL Moynahan and their affiliates have been investing together in commercial real estate since 2003. During that time, the companies and their executive team have closed on hundreds of properties in excess of $1 billion. As of December 2006, ArciTerra has sold commercial real estate assets totaling over $100 million. As part of its expansion, ArciTerra has several wholly owned subsidiary companies including ArciTerra Capital LLC, ArciTerra Realty LLC and ArciTerra Management LLC.
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