BOSTON-Edens & Avant and Samuels & Associates reached a final agreement for the joint purchase of 36 Konover shopping centers in New York, New Jersey, Pennsylvania and New England. Four of the centers are in this state. Financial details of the deal have not been disclosed.

Farmington, CT-based Konover & Associates is selling the bulk of its existing retail centers and will focus its efforts on its construction business, Konover Construction Corp., and on Konover Development Corp.’s pipeline of 30 potential development projects.

Locally based Samuels & Associates will be responsible for redeveloping, leasing and managing 17 of the jointly acquired centers. Columbia, SC-based Edens & Avant, which currently operates 18 grocery-anchored Necessity Retail Centers in New England, will operate the remaining centers in the region acquired from Konover.

Jodie W. McLean, president and chief investment officer of Edens & Avant emphasizes that the partnership of the two companies makes them “well-positioned” for the venture. “In addition to allowing us to expand an already positive relationship between our two companies, we believe the venture provides an extraordinary opportunity for our retailers and shoppers in New England, New York, New Jersey and Pennsylvania,” he says.

Steve Samuels, president of Samuels & Associates, adds that “joining forces on this acquisition with Edens & Avant is the next logical step in our growth. The unique combination of our deep understanding of this marketplace with Edens & Avant’s successful Necessity Retail center model is a formula for long-term success. Clearly, this positions our team as the leading acquirer and operator of stabilized and value-added retail assets in the Northeast.”

The companies anticipate that closings on each individual property will begin at the end of September and conclude by January 2003. The relationship between Samuels & Associates and Edens & Avant began in 1998 when Edens & Avant first entered the New England market through the acquisition of a portfolio of shopping centers from Samuels.

Samuels & Associates currently has over 15 projects under development in New England and the Midwest. Edens & Avant has over 250 owned and managed retail assets throughout the Eastern US.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.