Village Shoppes deal completed

Seller's capital gain exceeds $13M

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Jones Lang LaSalle negotiated the sale of the Village Shoppes of Salem, a 170,270-square-foot retail property in Salem, N.H. Auxxi Associates, which sold the property for approximately $39.7 million to ING Clarion, originally purchased the asset in 2002 for $26.5 million. The property is located at 290 South Broadway (Route 28) near the Massachusetts border, and was built in September 1999 by Developers Diversified. The plaza was 100 percent leased at the time of sale to tenants that included Best Buy, Michaels, Comp USA, Linens & Things, and Petsmart. Jones Lang LaSalle delivers full-scale development, leasing, management, investment sales, construction, and structured finance services globally. ...