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JAFFEE CORP. BUYS HOLLY HILL PLAZA SHOPPING CENTER

HOLLY HILL, FLA. — The Jaffe Corp., a shopping center owner and developer based in Ormond Beach, Fla., has purchased Holly Hill Plaza in Holly Hill, a suburb of Daytona Beach. Holly Hill Plaza is a 116,096-square-foot shopping center anchored by a 50,068-square-foot Winn Dixie grocery store. The asset sold for approximately $8.9 million, according to The Daytona Beach News Journal. The shopping center is located at the intersection of Nova Road and LPGA Boulevard and is 93 percent leased to tenants such as Woody’s BBQ, Family Dollar and Goodwill Industries. The Jaffe Corp. purchased the shopping center from Cincinnati-based Phillips Edison & Co. CBRE represented both parties in the transaction, and The Ackman Ziff Real Estate Group LLP arranged the acquisition financing through Bancorp Bank.

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