ORMOND TOWNE SQUARE SHOPPING CENTER SOLD FOR $20 MILLION

ORMOND BEACH, FLA. — Beachwood, Ohio-based Developers Diversified Realty has sold the 234,045-square-foot Ormond Towne Square to The Jaffe Co. for $20 million. The shopping center, located at 1458 W. Granada Blvd. in Ormond Beach, is anchored by Ross Dress For Less, Publix and Bealls. Additional tenants include Dollar Tree, GNC, Hallmark Gold Crown and Jackson Hewitt. New York City-based Cohen and Co.’s Michael Cleeman and Rick Kaiser represented the buyer.