Florida & Gulf Coast CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Avison Young Arranges ALDI Supermarket Deal in Ormond Beach
Fulbright Holdings, LLC acquired a supermarket ground lease within Shoppes on Granada in Ormond Beach, FL from 2017 Granada II Ormond, LLC for $3.2 million. Part of a 1031 exchange, the purchase was a fee simple, land condominium interest in an absolute NNN, freestanding, newly-constructed ALDI grocery store. ALDI constructed the 21,885-square-foot building at 1260 W. Granada Blvd. last year.
Avison Young’s Keith O’Donnell and Gary Gottlieb facilitated the transaction, in collaboration with Maenner Properties, Inc. The deal was part of a 1031 exchange for the buyer following the sale of a 38-acre development site in Palm Beach County, FL, which Avison Young also handled. SRS National Net Lease Group’s Patrick Nutt and Connor Barton represented the Singer Island, FL-based seller, The Ferber Company, which completed development on the property in 2019.
“Following the successful sale of our client’s development site, we were asked to identify suitable income-generating real estate investments from a portion of the sale proceeds,” said O’Donnell. “The brand-new freestanding ALDI supermarket in Ormond Beach met the criteria of providing a long-term, stable return on investment in a strong Volusia County submarket.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
- ◦Lease

