Net Lease Developers Acquires Mississippi Gulf Coast Office Depot

Pascagoula, Mississippi

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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Walgreen June Sales Rise 4.8%, Topping Estimates

By Andria Cheng

NEW YORK (MarketWatch) — Walgreen Co. said Wednesday that its June same-store sales rose 4.8%. Analysts surveyed by FactSet estimated the drugstore chain to post a 2.8% increase. Comparable results included a 4.7% increase in non-pharmacy front end sales, helped by gains in both customer traffic and ticket per transaction. Comparable pharmacy sales rose 4.9%. Total sales climbed 6.8% to $6.04 billion.Walgreen had 8,184 locations as of June 30. Its shares were up slightly in premarket trading.

COMVEST Properties is proud of Walgreen’s success and of our contributions to that success by identifing desirable markets and building quality stores in the South. Visit www.COMVEST.net for more information about our development history with Walgreens and other outstanding retailers.

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Smoothie King Opening Soon on Courthouse Road

Gulfport, MS, June 2, 2011 – Construction of a new Smoothie King location is nearing completion on Courthouse Road in Gulfport. The 2,300 square foot out-parcel development at Centre at Courthouse features a drive thru and patio for the convenience of Smoothie King’s guests, as well as 1,200 square feet of additional retail space for a neighboring tenant.

Planning a mid-June Grand Opening, Smoothie King, is the premier smoothie bar and nutritional lifestyle center in the industry. Smoothie King offers original, nutritional, fruit and function-based, fresh-blended smoothies, as well as the new premium Smoothie King line of vitamins and supplements. Each Lifestyle Center also offers healthy retail product solutions in sport beverages, energy bars, healthy snacks, herbs, minerals and sports nutrition products. For more information, visit www.smoothieking.com.

Centre at Courthouse, whose tenants include Dollar Tree and Citi Trends was a featured project in the COMVEST Properties booth at the International Council of Shopping Centers’ annual RECon event in May. The shopping center’s Phase II expansion plans, offering 7,000 square feet of retail space, attracted the attention of several national retailers.

COMVEST Properties, LLC is a full-service commercial real estate company specializing in development, leasing and retail tenant representation. Together with its affiliate, Net Lease Developers, LLC, COMVEST is an active developer of shopping centers and single tenant net leased properties in Louisiana, Mississippi, Alabama and the Florida Panhandle. For more information about this project and COMVEST Properties visit www.comvest.net.

 

Louisiana Walgreens Sells For $2.7 Million

Carencro, Louisiana – Net Lease Developers, LLC announces the sale of its Walgreens drugstore at the corner of West Gloria Switch Road and North University Boulevard in Carencro, Louisiana. A New Orleans based private investor acquired the leasehold interest for $2.7 million in a 1031 Exchange.

Net Lease Developers, LLC is a full-service commercial real estate company specializing in development, leasing and retail tenant representation. Together with its affiliate, COMVEST Properties, LLC, Net Lease Developers are active developers of shopping centers and single tenant net leased properties in Louisiana, Mississippi, Alabama and the Florida Panhandle. For more information about this project and COMVEST Properties visitwww.comvest.net.

Gordon Receives State WOTM Award

Biloxi, Mississippi, March 17, 2011 – COMVEST Properties congratulates Tracey Gordon on receiving the State of Mississippi Novice Co-worker of the Year award at the Women of the Moose Mid-year Conference in Hattiesburg. Tracey has been a member of the D’Iberville Family Moose Center, Chapter 528 since 2008 and currently serves as a Junior Regent on the Board of Officers. She was nominated for the award based on her work and commitment to her Lodge.

Tracey joined COMVEST in early 2010 as the Office Administrator and Property Manager. She will represent Mississippi as the nominee for the national Novice Co-worker for the Year award at the 2011 International Moose Convention in Anaheim, California this summer. COMVEST Properties salutes her accomplishments and wishes her continued success.

COMVEST Properties, LLC is a full-service commercial real estate company specializing in development, leasing and retail tenant representation. Together with its affiliate, Net Lease Developers, LLC, COMVEST is an active developer of shopping centers and single tenant net leased properties in Louisiana, Mississippi, Alabama and the Florida Panhandle. For more information about this project and COMVEST Properties visit www.comvest.net