The Office Depot located in Chicot Crossing Plaza was recently purchased by Biloxi, Mississippi – based Net Lease Developers for an undisclosed amount. The transaction for the 20,100 square foot Pascagoula location closed on June 29, 2011 and was financed by Hancock Bank.
The buyer was represented by Gerry Robbins of Grandbridge Real Estate Capital, Mobile, Alabama and the seller was represented by Dan Littauer, with C – III Asset Management as Special Servicer.
“This property is an excellent fit for us. We like the city of Pascagoula and the direction it is going and we really like Office Depot as a company and as a tenant,” said Net Lease Developers’ Acquisitions Director, Doug Molyneaux.
Together with its affiliate, COMVEST Properties, LLC, Net Lease Developers is an active developer of shopping centers and single tenant net leased properties throughout the South. For more information about this project and COMVEST Properties visit www.COMVEST.net.
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