February 10th, 2010

Heritage Development Complete's Transaction with WAL-MART at The Centre at University Parkway in Sarasota, Florida

Moreland Hills, OH, February 1, 2010…Iris S. Wolstein owner and president of Heritage Development Company announced that her company just closed a transaction with Wal-Mart in Sarasota, Florida.

Wal-Mart has purchased a portion of Wolstein’s Centre at University Parkway and will soon start demolition to expand the current store they have to a Super Center in March of 2010.  The expansion should be completed for opening in early 2011.

In addition, Wolstein is putting the finishing touches on a new Walgreen’s located on a outparcel.  Walgreen’s is relocating from a current in-line store in the center to the new store with a double drive thru and is over 14,500 square feet.

Additionally, Wolstein will re-tenant some of her existing shopping center and will revitalize the center with a face lift updating the center to co-ordinate with the new Walgreens & Wal-Mart.  Some space is available in the remaining center. 

Heritage Development Company is a Moreland Hills, Ohio based development company that specializes in Real Estate Management, Development and Sales.  Wolstein’s portfolio includes properties across the country but mainly in Ohio and Florida.  Property types include Office, Industrial, Retail, Residential, Luxury Country Clubs and Hotels. Wolstein is also actively involved in a $250 Million Redevelopment project in the flats area of downtown Cleveland, Ohio. 

Please contact Robert Benjamin at 440/247-0820 for further information.