Virendra Patel Of L.V.M. Corp Purchases Retail Property From Ben Mallah For $13.5M In Orange Park

The property asset involved in the transaction is a retail asset located at 560 Blanding Boulevard in Orange Park. This retail space encompasses 109,895 square feet and occupies 10.23 acres of land. The transaction concluded with a sale price of $13,500,000, resulting in a price per square foot of $123.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $13,500,000
• Buyer: Virendra Patel - L.V.M. Corp.
• Seller: Ben Mallah - Equity Management Partners
• Lender: Midflorida Credit Union
• Mortgage Amount: $7,020,000

Ben Mallah sold the property through Blanding Blvd BJ’s LLC. He previously acquired the 10.23-acre site for $13.95 million in 2019. The buyer, Virendra Patel, is based in Chicago and represents L.V.M. Corp. in this transaction.