Buyers & Sellers

For more information, contact Gary Turner at (321-952-2894), Fax (952-8967).

Long & Forster has the listing to sell Pryor Station, a 27,000 sq.ft. mini mall located at the intersection of Route 11 and Bower Avenue in Hagerstown, MD. The center is currently 50% occupied and has potential rental income of $121,000. The property presents a user-investor leasing opportunity for spaces ranging from 350 sq.ft. to 12,500 sq.ft. The asking price is $700,000.

For more information, contact Syd Machat at (301-432-5466).

Net Leased Investments has the listing to dispose of a 20 year triple net ground leased property in Orlando, FL. The asking price is $1.275 million.

For more information, contact Bob Fraser at (407-774-7335).

K Properties has the listing to sell a 61-acre parcel zoned for greater than 200,000 sq.ft. of retail space at the southeast corner of Interstate 75 and SR 52 in Pasco County, FL (40 minutes north of Tampa). All utilities are available. The asking price is $2.5 million.

For more information, contact Al Koch at (561-995-9135), Fax (995-7579).

Safeway has one remaining store, at the University Center in Anchorage AK, for sale from the seven stores it originally listed in that state. The company was forced to sell all seven stores to comply with a state court ruling which held that the company had a monopoly on the state’s grocery store market. The company sold the previous six locations to a consortium of supermarket owners including the Seattle, WA-based Associated Grocers. That company had no interest in the seventh store, in part due to the downturn in business University Center has seen during the past two years. Safeway offered the consortium $500,000 to take the store, but the offer was refused. The company is now negotiating with two prospective buyers.

For more information, contact (925-467-3000).

Westwood Financial Corp. sold Knott Plaza, a 30,241 sq.ft. shopping center located on the southwest corner of Knott and Crescent Avenues in Buena Park, CA for $1.4 million.

For more information, contact Philip Duke at (310-820-5443).

Boyd Page represented the seller, Asset Preservation Incorporated, in the sale of a 3,983 sq.ft. building on a parcel of 27,765 sq.ft. to Sonic Restaurants on Dairy Ashford in Houston, TX. The company represented the buyer, Tweeter Home Entertainment Group, Inc., (THEG) in its purchase of two buildings totaling 25,000 sq.ft. in Humble, TX. THEG will occupy a 10,500 sq.ft. formerly occupied by Tandy Corporation and will continue to lease the remaining 14,500 sq.ft. to Patio Plus.

For more information, contact Ed Page at (713-877-8400).

Donahue Schriber purchased Gordon Square, a 100,500 sq.ft. shopping center located at the intersection of Beach Boulevard and La Mirada in Buena Park, CA from Buena Park G & S for $11.8 million. The center is anchored by Super 1 Mart and PETsMART. Other retailers include Blockbuster, El Pollo Loco and Kragen Auto Parts. The company plans an extensive renovation, and also plans to build a 27,000 sq.ft. extension beginning in June 2000.

For more information, contact Elizabeth Schreiber at (949-854-2100).

5246 Associates, LLC, a joint venture of Ramsey Real Estate Group and Pacific Equity Properties, Inc., sold a 4,128 sq.ft. building to a private investor in Los Angeles, CA for $1.9 million. The building is 100% leased to Johnny Rockets and O’ My Sole.

For more information, contact Jeffrey Ramsey (619-233-0825).

Pan Pacific Retail Properties, Inc. purchased Wiegand Plaza I, a 122,500 sq.ft. shopping center on El Camino Real in Encinitas, CA for $11.8 million. A 58,000 sq.ft. Albertson’s Supermarket and Drug is the anchor. Demographics reveal a population of 68,000 residing within three miles earning $83,750 as the average household income. The shopping center is 98% occupied.

For more information, contact Carol Merriman at (760-727-1002).

Trammell Crow Co. purchased a 27.4-acre tract of vacant land on the Katy Freeway near Houston, TX on which the company plans to build a 200,000 to 300,000 sq.ft. shopping center.

For more information, contact (561-394-3388).

Armour Properties purchased the TJ Maxx and Aaron Brothers stores at the Aliso Viejo Town Center in Aliso Viejo, CA for $10.3 million from M&Z Aliso Associates.

For more information, contact Jeffrey Armour at (949-757-0505).

Burnham USA Equities sold Western County Plaza, a shopping center in Laguna Hills, CA to AKCC & T and Aries Piscres in two deals brokered by Faris Lee Investments.

For more information, contact Scott Burnham at (949-760-9150).

Net Lease Investment Group has the listing to sell two triple net leased properties in Richmond, VA and Burlington, NC. The leases commence during late summer 2000, and the merchants are tire stores for a privately held company with more than 120 location in the northeast. The asking price for the Richmond, VA property is $1.591 million, and the asking price for the Burlington, NC property is $1.739 million.

For more information, contact Piet Visser at (415-986-1900).

Greenberg Development Company has the listing to sell a small strip center anchored by Aldi in Fairview Heights, IL in the St. Louis, MO metropolitan area. The property is expected to show a 10% return, and the company will share its 6% commission.

For more information, contact Bob Greenberg at (314-965-2000).

Renz & Renz has the listing to sell an 11,000 sq.ft, six-tenant strip center on a 26,815 sq.ft. land area with below market rents and 27 parking spaces on Buena Vista Avenue in Stockton, CA. The asking rent is $375,000.

For more information, contact George Renz at (408-846-1031).