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Buyers & Sellers
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Buyers & SellersI.C.A. Realty Corp. has the listing to sell a 10,125 sq.ft. CVS situated on 1.25 acres and located on the northwest corner of North Main and Wayside Streets in Cornelia, GA. The property is leased for 20 years plus four five-year options with built-in increases. The lease commenced on 5/15/00. Landlord carries responsibilities for roof and structure (20-year manufacturers roof warranty in place). The daily traffic count is 16,495 cars, and in season (April-November) the count increases dramatically. The asking price is $2.342 million. Broker cooperation is welcome. The company also has the listing to sell a 10,908 sq.ft. Eckerd Drug situated on 1.33 acres and located at the northwest corner of Keith Street and 25th Street in Cleveland, TN. The property is leased for 20 years commencing on December 1, 1999 with four five-year options. The landlord is responsible for roof, structure and major capital improvements to parking lot, and the roof comes with a 20-year warranty. The asking price is $2.555 million. For more information, contact Joe Andersen at 212-889-8730, Fax (889-9007), Email realty1031exchng@aol.com
Denver Holdings Incorporated has the listing to sell Country West Square, a 6.2 acre parcel divided into five lots located at the southeast corner of Belleview and Simms in Littleton, CO. Four pad sites are available. Demographics show a population of 61,610 residing within three miles earning $53,210 as the median income. For more information, contact 303-338-9026, Fax 338-9029.
jOjA Partners has the listing to sell a 97,032 sq.ft. Kmart located on San Jose Boulevard in Jacksonville, FL. The site has 555 parking spaces and totals 11.6 acres. Demographics show a population of 120,076 residing within five miles earning $67,310 as the average household income. The daily traffic count is 44,500 cars. The company also has the listing to sell an 84,180 sq.ft. Kmart situated on 9.38 acres located at the intersection of Blanding Boulevard and Spencer Road at Kingsley Avenue in Orange Park, FL. Demographics show a population of 105,687 residing within five miles earning $54,345 as the average income. The daily traffic count is 70,000 cars on Blanding Boulevard. For more information, contact 770-952-5652, Email jim@jojapartners.com or jerry@jojapartners.com
Centennial American Properties has the listing to sell a parcel of land across from a proposed Super Wal*Mart site located in St. Mary’s, GA. Demographics show a population of 44,948 residing within 10 miles earning $41,578 as the average income. For more information, contact David Glenn at 864-271-3894, Fax 242-5498; or Brody Glenn at 904-273-0377, Fax 273-6198.
Ripco Real Estate Corp. negotiated the purchase of an 11-acre site located at the intersection of Castor and Aramingo Avenues in Philadelphia, PA for the development of a 125,000 sq.ft. Home Depot store. The company represented Home Depot in the sale. The seller was Midlantic Properties, Inc. The store is slated for an opening in 2001. For more information, contact 610-634-8000.
Crown American Realty Trust sold Greater Lewistown Plaza, a 171,000 sq.ft. shopping center located in Lewistown, PA for $5 million. The company also sold 15.4 acres located at Oak Ridge Mall in Oak Ridge, TN. Wal*Mart purchased the latter property to enable the company to build a 95,700 sq.ft. expansion, turning the existing store into a Wal*Mart Supercenter. For more information, contact Terry Stevens at 814-536-9538. Westwood Financial Corp. sold three shopping centers for a total of $3.016 million. The first, a 3,054 sq.ft. center anchored by AutoZone and located on Hollywood Boulevard in Los Angeles, CA was purchased by the KARE Family Trust. The sale price was $1.1 million. The second, a 6,825 sq.ft. center located on North Santiago Boulevard in Anaheim Hills, CA was purchased by Future Properties. The sale price was $850,000. Finally, a 5,600 sq.ft. 7-Eleven-anchored shopping center with 100% occupancy located at the intersection of Broadway Boulevard and K St. in Chula Vista was purchased by a group of investors represented by First Choice Realty. The sale price was $966,000. For more information, contact Joe Dykstra at 310-820-5443, Web site www.westfin.com
McGuire Properties has the listing to sell a 10.5-acre site zoned commercial located at the intersection of Interstate 40 and Eastside Thoroughfare in Hickory, NC. Demographics show a population of 69,333 residing within five miles earning $48,047 as the average income. Wal*Mart, Sam’s Club, Lowe’s Home Improvements and Barnes & Noble operate nearby. For more information, contact Clarence Johnson at 704-334-7383, Fax 334-5677.
Richman Realty Associates has the listing to sell a Winn-Dixie-anchored shopping center located in the Orlando, FL area with 5,000 sq.ft. of local tenants and financing in place. The company also has the listing to sell a 100%-occupied Publix-anchored shopping center in central FL with 20,000 sq.ft. of local tenants. For more information, contact Sy Richman at 561-852-7090, Fax 852-8346, Email syrich@aol.com
G.J. Grewe, Inc. has the listing to sell a 6,446 sq.ft. restaurant pad site accessible from Highway 70 at 5th Street in St. Charles, MO. The daily traffic count is 65,000 cars, and the site has 101 parking spaces. Demographics include a population of 57,157 residing within a three-mile radius earning $63,395 as the median household income. For more information, contact George Radu at 314-962-6300, Fax 962-7877, Email gradu@gjgrewe.com
Investment Properties/Colliers International has the listing to sell six pad sites located along the perimeter of West Oaks Mall, a 1.051 million sq.ft. shopping center in Houston, TX. Anchors include Sears, Dillard’s J.C. Penney’s, Foley’s, Mervyn’s, and Palais Royal. Sites range in size from one to 3.5 acres and are offered at prices between $5 psf to $12 psf. For more information, contact Christopher Winters or Robert Parsley at 713-222-2111, Fax 830-2118.
Blume Realty brokered the sale of Hollywood Market Square, a 58,440 sq.ft. center anchored by a 20,060 sq.ft. Rite Aid and an 8,120 sq.ft. Tuesday Morning in Portland, OR. The project, which has 10,907 sq.ft. available for lease, sold for $3.595 million. For more information, contact Bob Terhune at 360-491-4600, Fax 459-8747.
Crossover Commercial Group, Inc. has the listing to sell a 17,760 sq.ft. strip center in Palm Bay, FL. The 96% occupied project has a NOI of $84,464 and is priced at $900,000. For more infromation, contact Carmine Ferraro at 407-633-3724, Fax 407-633-5636.
Betz Commercial Brokerage, Inc. has the listing to sell two Just For Feet locations. A 20,000 sq.ft. store located in Covington, LA has a lease that commenced March 1999 and the asking price is $3.895 million at a 9.25% cap. A 22,000 sq.ft. Just For Feet store in Shreveport, LA is priced at $3.721 million at a 9.25% cap. For more information, contact Larry Marks at 713-892-5015, Fax 892-5300.
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