Published On: Thu, Apr 1st, 2010

Fimiani Development brokers sale of Yamato Plaza in Boca Raton

BOCA RATON — Boca Raton-based Fimiani Development has announced the sale of Yamato Plaza, a 6,065 square-foot shopping center in Boca Raton.

 

Michael Fimiani

 

 

Yamato Plaza, LLC sold the property for $900,000 to Ablar Yamato LLC.  Michael Fimiani, president of Fimiani Development, handled the transaction as part of a court-appointed receivership.

Yamato Plaza is located in the Arvida Park of Commerce on Yamato Road just west of I-95 and is adjacent to Lifetime Fitness and Hampton Inn. Tenants include Dean Anthony’s Pizza, Fresco Food Works and Bluefin Express Sushi.

In August 2009, Fimiani was appointed receiver of the shopping center and handled the property’s leasing and management.

“Yamato Plaza is an in-fill center in a desirable location which makes it an attractive property,” said Fimiani.  “With a strategic marketing plan, we were able fix, fill and sell the center rather expeditiously despite the challenging economy.”

Fimiani Development, its president said, offers lenders the ability to work with a single source for receivership needs.   “We handle leasing, management, tenant improvements, accounting and disposition of assets for our lender clients” he said. Fimiani Development is also handling office and residential receivership assignments.

The company’s services also include acquisition and redevelopment of existing shopping centers, ground-up development of new centers, consultation in developing third-party leasing programs and performing third-party leasing and management assignments of retail and office properties.