Buyers & Sellers
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Buyers & Sellers

Transcorp Advisors International, LLC is the exclusive buyer’s broker for a client with cash and available financing seeking investments of $10 million to $50 million in the U.S. Preferred acquisitions include credit tenants, long-term leased office, light industrial or retail and the buyer will consider packages of multiple locations.

For more information, contact Francis Soave at 211 West Fort Street, Ste. 1100, Detroit, MI 48226; (800-241-1694), Fax (800-241-4837) or Email: fnsoave@transcorp.net.

Net Leased Investments has the listing to sell a newly constructed CVS Drug Store located in GA. The property has a 20-year NN lease with 5% increases every five years and the lease commenced 5/00. The asking price is $1.791 million at an 8.25% cap rate. Also for sale is a CVS Drug Store located at a major intersection on Hilton Head Island, SC. The site has 20-year NN lease with 5% increases every five years and rent commences 9/00. The asking price is $2.085 million at an 8.25% cap rate.

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

Kin Properties, as principals, is offering a two-tenant AAA credit center for sale. The tenants are Dollar General and Consolidated Stores.

For more information, contact Lee Cherney at (914-683-8080, Ext. 111).

Prudential Transact Realty, Inc. has the listing to sell a 50,000 sq.ft. shopping center in Daytona Beach, FL. The asking price is $1.6 million and the property shows a 1999 actual NOI of $165,000.

For more information, contact Ed Rancourt, Prudential Transact Realty, Inc., 823 Dunlawton Ave., Port Orange, FL 32127; (904-788-2552), Email: edrancourt@yahoo.com

Kushner Companies acquired Christmas Tree Plaza, a 135,766 sq.ft. center in Orange, CT for $14 million from Beckinstein Enterprises. The four-year-old project is 100% leased and anchored by the Christmas Tree Shop. Kislak Companies represented the buyer and Sullivan Hayes represented the seller.

For more information, contact Richard Stadtmauer at (973-822-0050).

CB Richard Ellis brokered the sale of 18 acres in Scottsdale, AZ. The Pederson Group purchased the site for $8.5 million and plans to develop Grayhawk Plaza, a Basha’s supermarket-anchored project slated to open next fall. CB Richard Ellis has the listing to sell Cecil Plaza Shopping Center in Delano, CA (near Bakersfield). The project is anchored by Rite Aid, Blockbuster, Pizza Hut, Carpetland and Dollar Tree. The anchors contribute over 61% of revenues. The asking price is $3.9 million at a 9.8% cap rate.

For more information on Cecil Plaza, contact Don Howson at 555 Capitol Mall, Suite 100, Sacramento, CA, 95814; (916-446-8269), Fax: (916-446-8750); Email: dhowson@cbrichardellis.com. For more information on the Scottsdale site, contact John Bullington of CB Richard Ellis at (602-735-5555).

Center Trust is selling six shopping centers in WA, CA and NV to Kimco Realty for a purchase price of $160.6 million including the assumption of $68.3 million in debt. The transaction is expected to close in the third quarter of 2000.

For more information, contact Ned Fox of Center Trust at (310-546-4520).

Rein & Grossoehme brokered the sale of two freestanding Burger Kings in Mesa and Gilbert, AZ. The sale price was $2.5 million for both properties.

For more information, contact Jerry Robers at (602-954-0717).

Atlantic Retail Properties has the listing to sell a 10.5 acre parcel in Derry, NH. The property fronts Tsiennto Road and within three miles resides a population of 103,042. The asking price is $775,000.

For more information, contact David Nugent at (781-768-3614).

David G. White Associates, Inc. has the listing to sell a 6.43 acre site on US Route 7 and Route 7A in Bennington, VT. The property is located near Wal*Mart, Kmart, JC Penney, Staples and a proposed Price Chopper supermarket. The asking price is $800,000.

For more information, contact Tim Burke at (802-862-1225).

Southern Management & Development acquired the Gazebo South Center, a 79,000 sq.ft. project near Jacksonville University in Jacksonville, FL. The 26-year-old center is anchored by Publix.

For more information, contact Steven Levin at (561-883-1412).

Midland Red Oak Realty, Inc. is in the market to acquire retail and mixed-use property in AZ, AR, CA, CO, LA, NM, NV, OK and TX. Acquisition criteria includes GLAs of at least 100,000 sq.ft., upside potential through lease up, pad sites or rate pressure, single asset and portfolio transactions in the $5 to $10 million price range.

For more information, contact Don Davis or Neill McClung at (888-301-0148), Email: ddavis@mromgmt.com; Web site: www.mromgmt.com.

The Sauter Companies is selling Sandhill Square Shopping Center, a 49,400 sq.ft., 94% occupied strip center located on East Flamingo in Las Vegas, NV approximately 2.5 miles from the "Strip." The project sits on 3.6 acres and has a $5.5 million price tag.

For more information, contact Jon B. Clark, 6655 W. Sahara, #A204, Las Vegas, NV, 89146; (702-383-3383), Fax: (702-252-0139); Email: jclark@netxs.net.

RE/MAX Associates, Inc. has the listing to sell Westgate Shopping Center located in northwest Arkansas. The project consists of eight tenants with triple net leases. The asking price is $1.85 million.

For more information, contact David Johnson, 1088 E. Millsap, Fayetteville, AR, 72703; (501-444-9400), Fax: (501-444-6441).