News

March 2012 News

Bon Aviv Investment LLC with Zamias Purchase Five Shopping Centers from KIMCO Realty Corporation

Bon Aviv Investment LLC with Zamias Services Inc announce the purchase of five shopping centers for $68,000,000 from Kimco Realty Corporation.  The properties included in the transaction are: (i) The Center located in Stockton, California; (ii) Park Place located in Vallejo, California; (iii) Hagerstown Shopping Center located in Hagerstown, Maryland; (iv) Rivergate Station located in Nashville, Tennessee and (v) Riverwalk Plaza located in Charlestown, West Virginia.

The properties total 837,183 square feet and are 93% leased.  Anchors include Kroger’s, Aldi’s, Raley’s, Costco, TJ Maxx, 24-Hour Fitness, Gold’s Gym, JoAnn Fabrics, Sam Ash, Olive Garden, Logan’s Roadhouse, TGI Friday’s and Olive Garden.  “We are very pleased to have had the opportunity to work with Zamias and Kimco on this acquisition and are excited to do future business with each company going forward,” said Amit Barnoon, President and CEO of Bon Aviv Investments.  “The properties are well positioned in the their markets and we look forward to doing considerably more strategic purchases of portfolios with Bon Aviv,” said Joseph Anthony, President and CEO of Zamias Services Inc.

Bon Aviv and Zamias are actively pursuing Value-Add retail shopping centers throughout the continental United States.  Zamias and Bon Aviv expect to add considerable holdings to their portfolios throughout the remainder of 2012.

About Bon Aviv Investments LLC
Bon Aviv Investments LLC is a privately held joint venture between Aviv Arlon Ltd. and Bon Investments Ltd.  As a privately held company, Bon Aviv has the resources and ability to move quickly to close complex transactions and execute its investment strategy.  Investments are acquired through direct purchase of properties, acquiring mortgages and entering strategic joint ventures with local partners. 

About Zamias Services Inc
Zamias Services Inc is a Johnstown, Pennsylvania based Leasing and Management company.  Since its inception, the full-service real estate company has developed more than 30 million square feet of retail space.  The current Zamias portfolio of assets consists of 43 shopping centers, totaling over 12 million square feet, in nine states.  For more information, visit www.zamias.com.

Zamias Services Names President and CEO

Joseph Anthony has been promoted to President and CEO of Zamias Services Inc after serving as Executive Vice President for eight of his thirteen years with the company.  “After more than fifty (50) years in the real estate business, we are pleased and proud to announce that Joe will be leading our company.  Joe has been a valuable asset to our company for well over a decade and has supervised over $1 billion of commercial real estate transactions and we look forward to his vision for the company going forward,” said Stephen G. Zamias.

“The Company’s focus will continue to be strategic purchases of Value-Add Real Estate (primarily retail and multi-family) throughout the continental United States.  We will continue to provide our large institutional clients premier leasing and management services.  Also, we are expanding our Tenant Representation division, and will add a retail investment division which will invest in expanding retail tenants,” said Joe Anthony, President and CEO.

“This announcement and the promotion were long overdue, I have been in this business for over 38 years and Joe is as good as anyone I have ever seen.  Joe has started to lay the foundation for many great opportunities in the future and we look forward to working with him to meet the company’s goals and objectives” said Sam Zamias.

Samuel and Stephen Zamias will take on the position of Chairman and Vice Chairman and will continue to take active roles in the business ventures of Zamias Services Inc.

About Zamias Services Inc
Zamias Services Inc is a Johnstown, Pennsylvania based Leasing and Management company. Since its inception, the full-service real estate company has developed more than 30 million square feet of retail space.  The current Zamias portfolio of assets consists of 43 shopping centers, totaling over 12 million square feet, in nine states.  For more information, visit www.zamias.com.

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