SOLD: Centre at Courthouse, Gulfport, MS

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FOR IMMEDIATE RELEASE

MARCUS & MILLICHAP ARRANGES THE SALE OF 34,252-SQUARE FOOT RETAIL PROPERTY

GULFPORT, MS, October 10, 2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Centre at Courthouse, according to Todd E. Lindblom, regional manager of the firm’s Milwaukee office. The asset sold for $2,575,000.

Jeff R. Rowlett and Matt Fitzgerald, investment specialists in Marcus & Millichap’s Milwaukee office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Anne Williams, Mississippi Broker of Record, assisted in this transaction. The seller, Centre at Courthouse, Inc. is a wholly owned real estate investment property of Mladinich Holdings, LP., Biloxi, MS.

Centre at Courthouse is located at 405 E Pass Road in Gulfport, MS. This investment consists of two buildings, one occupied by three tenants at 31,975 square feet and the other two tenants at 2,277 square feet. The larger building was built in 1974 but was completely redeveloped in 2006 with a new roof, all new electrical, water lines, sewer, sprinkler system, new 2” asphalt and new pylon/monument sign. The smaller two tenant building was built in 2011 located in the outlot of the larger building. Currently the tenants leasing space consist of Citi Trends, Dollar Tree, Shoe Show and Smoothie King.
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About Marcus & Millichap (NYSE: MMI)
With over 1,700 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com

Daniel J. Payne Joins COMVEST Properties LLC

 

Daniel J. Payne, CPA

PRESS RELEASE

FOR IMMEDIATE RELEASE

Daniel J. Payne Joins COMVEST Properties LLC

Biloxi, Mississippi – Daniel J. Payne, CPA, has joined COMVEST Properties in the position of Accounting Manager. Prior to joining COMVEST, Daniel worked with a CPA firm on the Mississippi Gulf Coast serving a wide variety of clients.  In addition to public accounting experience, Daniel has experience working with a local bank as an Internal Auditor.

Daniel graduated with a Bachelors in Accountancy from Mississippi State University.  He has also obtained his Masters of Business Administration from Delta State University.  In addition to his education, he is licensed as a Certified Public Accountant in the State of Mississippi.

Daniel is a member of the American Institute of Certified Public Accountants (AICPA) and the International Council of Shopping Centers (ICSC).  He is also a member of Mississippi Society of CPAs where he serves as treasurer for the Gulf Coast Chapter.  In addition to work related associations, Daniel enjoys volunteering his time to give back to his community.  Currently, He is serving as a member of the Board of Trustees for the Walter Anderson Museum of Art.  In 2015, he was appointed by the Board of Aldermen to serve a five-year term on the Economic Development Council for the City of Ocean Springs.

About COMVEST Properties, LLC: Together with its affiliate, Net Lease Developers, COMVEST Properties, LLC, are active developers of shopping centers and single tenant net leased properties. For more information about COMVEST Properties visit COMVEST.net.

For additional information contact:
Wendy Barthe Peavy, Director of Marketing
COMVEST Properties, LLC
228-594-3400 (office)
228-594-3401 (fax)
wpeavy@comvest.net
www.comvest.net

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Gary Rosetti Retires from Mladinich Holdings LP/COMVEST Properties LLC

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PRESS RELEASE

FOR IMMEDIATE RELEASE

Gary Rosetti Retires from Mladinich Holdings LP/COMVEST Properties LLC

Biloxi, Mississippi – After over 40 years working as an Accounting Manager for Mladinich Holdings LP and COMVEST Properties LLC, Gary Rosetti, CPA, has retired.

Gary, joined the Mladinichs in the late 1960s to oversee the payroll and other accounting duties of the family’s many Biloxi hospitality enterprises. He went on to become a Certified Public Accountant and an auditor for the Defense Contract Audit Agency (DCAA), the Department of the Navy and the Office of Inspector General of Homeland Security. While with DCAA, Gary was Branch Manager of the Gulf Coast Branch Office. During this time, he remained a close advisor and friend to family patriarch, John Mladinich.

In 2011, Gary became affiliated with commercial leasing operations for COMVEST Properties in conjunction with Mladinich Holdings. In the position of Accounting Manager, he maintained accounting records, payroll preparation, processed vendor invoices for payment, monitored tenant lease payments, and ensured proper insurance coverage of COMVEST’s retail assets. He was also responsible for the annual reconciliation of CAM/Insurance and Taxes with each tenant, as required by lease agreements.

The Mladinich-Holstein family and the associates of COMVEST Properties extend their best wishes to Gary for a happy retirement.

About COMVEST Properties, LLC: Together with its affiliate, Net Lease Developers, COMVEST Properties, LLC, are active developers of shopping centers and single tenant net leased properties. For more information about COMVEST Properties visit COMVEST.net.

For additional information contact:
Wendy Barthe Peavy, Director of Marketing
COMVEST Properties, LLC
228-594-3400 (office)
228-594-3401 (fax)
wpeavy@comvest.net
www.comvest.net

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Lowes Foods Invests Over $1.5 million in Hickory NC Store

Over the summer the Lowes Foods at Mountain View Marketplace celebrated it’s “grand re-opening” following a $1.6 million remodel.

The store’s redesign is part of a companywide re-imaging campaign kicked off in 2014 to emphasize the grocer’s homegrown roots. The renovated stores offer more local products and produce, as well as local recipes and décor than in the past.

“We are a local product, therefore we support local,” said Tim Lowe, the president of Lowes Foods. “There are a lot of people that try to come in and say they’re local, but they are owned by folks in other states. They’re owned by companies overseas.”

He said that Lowes Foods works with more than 200 local farmers and has a partnership with N.C. State University to help farmers bring their products to market.

Read more about the “new” Lowes Foods at Mountain View Marketplace.

Sold: Shoppes at Beauvoir, Biloxi, MS

Biloxi, Mississippi – The development partnership of NLD Biloxi, LLC recently sold Shoppes at Beauvoir, a 6,300 square foot strip center, for $1.85 million. A former Blockbuster Video location on the corner of Beauvoir and Pass Roads, the building was redeveloped in 2013 and is now home to Firehouse Subs, an AT&T Authorized retailer, and The UPS Store.

The buyer, an undisclosed Louisiana investment company, was represented by Christopher K. Dozier of Retail Specialists, Inc. The sellers were represented by co-owner and developer, Doug Molyneaux, CCIM, of Catalyst Retail Developers.

“This re-development project was the vision of Doug Molyneaux, who actively negotiated the acquisition contract, negotiated the tenant leases and lease extensions, and led the marketing effort in the sale,” said co-owner and developer, Brooks Holstein of COMVEST Properties, LLC. “An aggressively structured and priced loan facility with Community Bank Coast, and Senior Vice President, Darney J Derouen, allowed the ownership to develop an appealing exterior elevation which helped attract an excellent mix of national franchise tenants.”

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