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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.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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