The seller was Pine Plaza of Sunrise, Inc., which wasrepresented by CB Richard Ellis first vice president DavidDonnellan and vice president William Strauss. Located in BocaRaton, Donnellan and Strauss are part of the company's privateclient group of investment properties group. "The seller had ownedthe property for about 10 years and it was time to sell," Donnellantells GlobeSt.com.

The joint venture, called SCP-Capri Pine Plaza Owner LLC, plansto invest $3 million into the property, which sustained significantdamage during Hurricane Wilma almost two years ago. The occupancylevel of the property is in the low 80% range, due in part to thedamage. Anchor tenants include Winn Dixie, Family Dollar, Beall'sOutlet and Sunrise Cinema. "There's a lot of value that can beadded to this property with a larger company operating it,"Donnellan says.