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Center Point Plaza, an approximately
100,000 sqft shopping center on 15 acres of land was purchased
from Citibank for approximately $2,035,000 in August 2006
as an upleg in a 1031 exchange. At closing the occupancy
was 63%, and the NOI was $180,000 with some tenants at
below market rent. The center is anchored by the U.S.
Post Office. |
