Bentley Forbes Group Acquires New Jersey Waterfront Shopping Center for $13 Million in Sale-Leaseback Deal -- Real Estate Firm Now Owns 4 Formerly Named Yaohan Superstores in U.S.Business Editors LOS ANGELES--(BUSINESS WIRE)--Aug. 21, 2000 The Bentley Forbes Group LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control today announced that it has acquired Mitsuwa Plaza, a three-building, 92,750-square-foot waterfront shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into situated on nearly 14 acres of land in Edgewater, N.J., for a purchase price of approximately $13 million. Simultaneous to closing the sale with Maya Holdings (New Jersey) Inc., Bentley Forbes leased back the property near the Hudson River Hudson River River, New York, U.S. Originating in the Adirondack Mountains and flowing for about 315 mi (507 km) to New York City, it was named for Henry Hudson, who explored it in 1609. Dutch settlement of the Hudson valley began in 1629. in Bergen County for 15 years on a triple net bond lease to Mitsuwa Corporation, which recently changed its name from Yaohan USA Corporation. Within the past three years, Los Angeles-based Bentley Forbes also purchased and the commercial real estate investment firm currently holds leaseback agreements on formerly named Yaohan Superstores in Arlington, Ill., and in Costa Mesa Costa Mesa (kŏs`tə mā`sə), city (1990 pop. 96,357), Orange co., S Calif., on the Pacific south of Santa Ana; inc. 1953. It is a transportation, residential, and light industrial center. and Torrance, Calif. Under the Yaohan brand name, the retailer developed into the largest Japanese-oriented retail operation in the U.S., recognized for the elegance, quality, cleanliness and "one-stop shopping" convenience of its superstores which offer a wide variety of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. for Asian and non-Asian customers alike. Northland/Marquette Capital in Newport Beach Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. , Calif., financed the transaction, and CB Richard Ellis' office in that city brokered the sale. C. Frederick Wehba II, president of Bentley Forbes, said this transaction expands his firm's portfolio to more than $675 million, of which properties with a combined value above $200 million have been acquired since the beginning of this year. The Bentley Forbes Group is a national, full-service commercial real estate investment firm that specializes in the acquisition and ownership of single-tenant, income-producing properties ranging from office buildings and warehouses to light industrial facilities and shopping centers. |
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