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Klaff Realty, LP
122 S. Michigan Avenue
Suite 1000
Chicago, Illinois 60603
312-360-1234 (ph)
312-360-0606 (fax)
Email: KlaffRealty@klaff.com
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Klaff Realty, LP, along with Lubert-Adler and Coventry Real Estate Advisors acquire a 1.03 million square foot, 87-property national retail portfolio from Rex Stores
- April, 2007
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In April of 2007, Klaff Realty, LP, along with Lubert-Adler and Coventry Real Estate Advisors acquired a 1.03 million square foot, 87-property national retail portfolio from Rex Stores Corporation ("Rex"). The fee-owned portfolio is comprised of free-standing buildings averaging 11,700 square feet on 1.2 acres of land. The stores are located in 28 states with concentrations in Florida, Ohio, Michigan, Texas and South Carolina. The buildings are generally in excellent condition, often command the premier locations within their markets and in many cases are mall out-parcels. Forty stores were leased back to Rex, ten were subject to leases with third party tenants, and thirty-seven stores were vacated by Rex upon acquisition. Klaff Realty, LP is currently directing and managing the repositioning strategy of the portfolio for the partnership.
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