|
Buyers & Sellers
|
|
|
Buyers & SellersHalpern Enterprises, Inc. acquired Millcreek Crossing Shopping Center in Buford, GA. The 394,727 sq.ft. development is anchored by a Wal*Mart Super Center and a Lowe’s Home Improvement. Other tenants include Payless Shoesource, Dollar Tree, Great Clips, and Taxco Mexican Restaurant. For more information contact Marion M. Farrar at 770-508-3313 at Halpern Enterprises, Inc.
Top Brokers has the listing to sell a lot at Main Street between East Atlanta and West Panola Roads in the Atlanta, GA area. The site is zoned C-2 and C-3 with an outparcel graded for storage. Sewer is available and lots of rooftops in area, site is build to suit. Asking price is $890,000. For more information contact Top Kervin at 770-616-6180 or email at topbrokers@msn.com.
Westerra Real Estate Group has the listing to sell Northbridge Plaza in Twin Falls, ID. The 14,575 sq.ft. neighborhood center has 85% occupancy. Area retailers include a newly-constructed post office, Costco, Albertsons, PetSmart, Target and Office Max. Access and parking agreements are in place with the adjoining property (regional sporting goods company). Asking price is $1.587 million or $108 psf based on a 9% CAP. Annual NOI is $142,831, while all leases are triple-net with 3% to 4% annual increases and primary terms are three to five years. The lot is 40,520 sq.ft. with the main structure built in 1999. For information call Steve DiLucca at 208-733-7653 or email at sed@westerra.cc.
Arroyo & Coates is marketing the sale of a 19,120 sq.ft. Container Store leased through 2007 in Tyson Corner, VA. Asking price is $5.88 million with an 8.5% CAP rate. The site features immediate access to Leesburg Pike and percentage rent is likely to start this year. Tenant had $512 psf sales last year. Building was last renovated in 1992. Expansion is possible of 5,000 sq.ft. For information contact Eric C. Wilcox 415-445-7800, Fax 415-392-3040, email at ewilcox@a-c.com.
Primerica Group One is looking for single tenant retail properties east of the Mississippi, with a preference for East Coast markets. Client needs a minimum deal of $1.9 million to fulfill a 1031 exchange. Contact Lou Fabrizio at 407-774-8914, Fax 407-774-9332 for more information.
A 6,656 sq.ft. Hollywood Video store with multi-year lease is for sale in South TX. Asking price is $1,195,417 with a 10% CAP rate. Landlord is responsible for roof and structure on the building. Annual rent is $119,542. Contact Joe Navon at 713-777-4329, Fax 218-754-4189 or email at joen@brokersys.com for more information.
Colliers International has the listing to sell a 2,600 sq.ft. Radio Shack store on a 21,172 sq.ft. lot in Sulphur, LA. Radio Shack has 10-year lease and the site is located across from Super Wal*Mart on LA Highway 108. The asking price is $430,000 with a 9% CAP rate. For more information contact Christopher D. Winters at 713-830-2106 or email at cwinters@collierstexas.com.
CB Richard Ellis is marketing the sale of Overlook Mall in Watsonville, CA. Located in Santa Cruz County the asking price is $4,841,460 with a 7.5% CAP rate. The power center, built in 1999, is anchored by Target, Albertson’s and Staples. Other tenants include Starbucks, Radio Shack, GNC, Crescent Jewelers and Supercuts. One-mile population is 24,380. The company is also selling Cecil Plaza Shopping Center in Delano, CA. The 47,280 sq.ft. specialty shopping center is 100% leased and features national tenants with anchors contributing 61% of the revenue. The asking price is $3.9 million with a 9.8% CAP. For more information call Don Howson 916-446-8269 or John DuBois 916-446-8761 of Fax 916-446-8750.
KIN Properties has the listing to sell a 110,093 sq.ft. store leased to Kmart until 2019 in Evansville, IN. The deal has a self liquidating mortgage and $814,000 rent income. A former Builders Square, the site consists of 13.53 acres. For more information call Lee Cherney 914-683-8080 ext. 111.
CGR Commercial has the listing to sell a 23,500 sq.ft. Office Max in Dilworth, MN. The term of the lease is 15 years with three five-year options. Fixed rate loan for $1.99 million at 8.215% to be assumed, comes to term in October 2009. Rent is $10.38 psf years 1-15, with $.50 increases every five years. Contact Bob Young 417-888-6624 for more information.
Neal Turner Realty has the listing to sell a CVS Pharmacy in Bowling Green, KY. The lease has 18 years remaining on the initial 20- year term lease with bumps in rent every five years during the initial term. The asking price reflects an 8% CAP rate. The surrounding 1.67 acres is also available for development but is not included in price. For more information call Alex Nottmeier 270-781-8000 ext. 201, Fax 270-781-7849, email at alex@nealturnerrealty.com.
G.Earl Real Estate is looking to sell or lease a 7,000 sq.ft. Hardee’s in Wautoma, WI. The 2+ acre site fronts State Highway 21 and has a drive-in. Hardee’s corporate has approval over tenants and encourages convenience store/gas station entities and banks to apply. For more information contact Gary E. Eake 920-426-0417, Fax 920-426-3442, email to ge@gebroker.com
Net Properties is selling a Blockbuster Video location in Milton, FL. Nine years remain on a 10-year lease with 12% rent increase every five years. Asking price is $763,000 at a 9.5% CAP rate. Contact Jen VanWilliams at 410-749-8980, Fax 603-754-1600 or email jen@net-properties.com for information.
Wal*Mart Realty is selling two outlots fronting a supercenter at US Highway 13 and Cedar Lane in Fruitland, MD. A population of 52,000 resides in a five mile radius with an average household income of $50,000. Asking price on the 1.13 acre outlot is $660,000, the 1.25 acre outlot is $675,000. A 1.742 acre outparcel at US Highway 219 and Fourth Street in Oakland, MD is also available. The Oakland site is adjacent to a Wal*Mart Supercenter scheduled to open March 2001. For more information call Wal*Mart Realty at 501-277-0039 or visit www.wal-martrealty.com.
Wohl Investment Co. has opened escrow on the purchase of remaining 13 acres near Ontario Mills Shopping Center in Ontario, CA. The company plans to develop a 30,000 sq.ft. strip center on a 2.7 acre parcel that had a 70% leasing pre-commitments from retailers before the land deal has been finalized. For more information call Gregory Wohl at 714-955-0115.
The Grossman Companies, Inc. brokered the sale of Towne Center on the MA-RI line to SeP Associates, LLC. The site has a new branch of Compass Bank and a Seekonk, MA post office that will be completed in February. A 108,000 sq.ft. building for retail or flex office space is available for lease at the center. For more information call Aidan Murray at 617-472-2000 ext. 136 at the Grossman Companies, Inc., Fax 617-472-4600.
Investment Realty Company has the listing to sell the 50,487 sq.ft. former Leonard’s Furniture in San Antonio, TX. The site is located approximately one mile from the 410 Loop and contains two store fronts. The asking price is $3.5 million. For more information contact Stephen Raub 210-828-9261, email at info@investmentrealty.com.
Bechard Group is marketing the sale of a 15 to 20-acre commercial corner in Cadott, WI. All utilities are to the site and TIFF benefits are possible. T he site is located at the corner of State Highways 27 and 29 (10 minutes east of Eau Claire). Asking prices start at $175,000. For more information call Dave Allen 920-738-7100, email at dallen@bechardgroup.com.
Tanger Factory Outlet Centers, Inc has terminated its contract to purchase a 12-acre tract adjacent to the Outdoor World store at Sportsman’s Park in Dania Park, FL. Details of the sale such as building permits and title matters could not be finalized by the seller, Bass Pro Outdoor World, LP. The company will continue to operate Outdoor World. For more information call Tanger Factory Outlet Centers at 336-292-3010. |