The centers being sold will comprise about four million sf of retail space. A representative of Samuels & Associates tells GlobeSt.com that the company is not yet disclosing which centers are being acquired or for how much. While Konover has shopping centers in New England, New York, New Jersey, Pennsylvania and Maryland, the representative notes that the centers in New Jersey and Maryland will most likely not be in the sale. According to Konover's Web site, the company owns six shopping centers in this state and one in New Hampshire.
According to a released statement, Konover's sale of these centers is consistent with the company's plan to refocus its efforts on its construction business, Konover Construction Corporation and on Konover Development Corporation, which has a pipeline of 30 potential development projects.
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