Timber Development Corp. Sells Three Shopping Centers Totaling $11.2 Million

by Hayden Spiess

Longwood, Fla. — Timber Development Corp. has completed the sale of three retail centers for a total of $11.2 million. The properties are located in Nebraska, Ohio and Minnesota. Eric Abbott and Zach Taylor of Marcus and Millichap represented Timber in the $4.6 million sale of the Norfolk, Nebraska, shopping center, which comprises 36,500 square feet and is shadow-anchored by Walmart. Bentley Coe Plaza — a 36,600-square-foot center located in Olmsted, Ohio — was purchased for $4.4 million. Kyle Hartung of Goodman Realty brokered the transaction. AJ Prins of CBRE arranged the sale of a 20,140-square-foot retail center in Austin, Minnesota, for $2.2 million. Buyers were not disclosed.

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