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Sarasota-Manatee
Business Observer Friday, Aug. 13, 2021 1 year ago

Real estate firm expands portfolio with massive ground lease purchase

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Benderson Development's latest acquisition bumps its total purchases to $1.5 billion over the past 24 months.

UNIVERSITY PARK — Benderson Development continues to grow its portfolio of real estate holdings in the West Coast and mountain regions with the company’s latest acquisition.

The real estate company, based in University Park, east Manatee County, recently acquired the ground lease of Plaza Santa Fe located in Santa Fe, New Mexico. The plaza is a 450,000 square foot market sitting on about 33 acres, according to a statement. 

“Minutes from historic Downtown, Plaza Santa Fe is the dominant shopping center within a 50-mile radius,” Shaun Benderson, managing director of Benderson Development, says in a press release. “It’s a great asset in a great location, and we’re pleased to add this property to our expanding portfolio.”

The company has been continually expanding its portfolio over the past few years. In April, the company purchased 28 Fred Meyer stores located throughout the pacific northwest and Alaska. 

The latest acquisition of the Plaza Santa Fe marks the company’s latest acquisition, with total purchases exceeding $1.5 billion within the last 24 months, the release states. Other significant purchases include: Pioneer Natural Resources headquarters in Dallas; Thrivent Financial headquarters in Minneapolis; and an interest in Duke Energy’s Metro Tower in Charlotte, North Carolina 

The company also acquired ground leases under the Hampton Inn Manhattan/Times Square Central, The Highland Dallas, Curio Collection by Hilton, and Willard Towers in Washington, DC.

Benderson Development’s portfolio includes more than 800 properties totaling over 45 million square feet in 40 states.

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