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Buyers & Sellers
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Buyers & SellersWimbish Riteway is looking to acquire shopping centers throughout FL. Preferred properties should be priced at a 12+% cap rate. For more information, contact Don Gilliland at (954-557-4333).
Staubach Investments has the listing to sell a 67,026 sq.ft. building in Bridgeport, CT. The lease is guaranteed by Super Stop & Shop’s parent, Royal Ahold. The absolute NNN lease has 19 years remaining with six options of five years each. The 7.629 acre site, surrounded by residential developments, is close to Interstate 95 and state Highway 15. The asking price is $16.35 million. Staubach also has the listing to sell a 15,120 sq.ft. building in Naperville, IL. The 20-year lease is guaranteed by Walgreen Co. The 1.54-acre site is located 35 miles south of O’Hare International Airport. The asking price is $3.65 million. For more information, contact John Pearson (972-361-5101) or Kyle Woo (972-361-5092).
Grubb & Ellis represented Archon Group and Goldman Sachs in the sale of Sun Plaza, a 33,017 sq.ft. shopping center in Los Angeles, CA. The 97% leased project, anchored by Payless Shoes, sold for $4.3 million. For more information, contact Mark Hong of Grubb & Ellis at (714-939-6000).
Coldwell Banker Commercial Currier and Lazier Realtors has the listing to sell 7+ acres in Middletown, NY. The site is located at the signalized intersection of Crystal Run Road and Sullivan Lane, one-quarter mile north of Route 17 and Interstate 84. The site is about one-quarter mile East of the Galleria at Crystal Run. The owner will consider subdividing. For more information, contact Peter H. Lazier (914-341-1941).
Colliers Arnold has the listing to sell Hiawassee Woods, a 51,031 sq.ft. strip center in Orlando, FL. The center has a small office building component. The asking price is $4.5 million or $88 per sq.ft. at a 9.4% cap rate. The 5.74 acre site is located at Hiawassee Road and West Colonial Drive, near West Oaks Mall. The company also has the listing to sell the 21,000 sq.ft. Haymaker Square in Orlando, FL. Located on Silver Star Road one-half block east of Hiawassee, the 1.7 acre site has a traffic count of 35,500 cars per day. The asking price is $1.6 million or $76 per sq.ft. at a 10% cap rate. For more information about Hiawassee Woods, contact Michael Milano at (813-221-2290). For information about Haymaker Square, contact John D’Aloise or Jim Kleeman at (407-843-1723).
Marcus & Millichap has the listing to sell Southpointe at Townlake in Woodstock, GA. The 97% occupied, 55,255 sq. ft. strip center has 23 tenants. Fronting Parkside Lane, the site has a traffic count of 45,000 cars per day. The asking price is $6.72 million or $121 per sq.ft. at an 11.1% cap rate based on a NOI of $749,410. For more information, contact Thomas H. Jorgenson or Craig Taylor at (770-393-1700).
Robinson Sigma Commercial Real Estate has the listing to sell the 200,008 sq.ft. Newport Crossing Shopping Center in Newport News, VA. The price for the 33.45 acre site on Oriana Road is $13.1 million. The 94% leased center is anchored by Food Lion, PharMor and AJ Wright. Two undeveloped parcels are included. The company also has the listing to sell the 57,654 sq.ft. Shady Banks Shopping Center in Yorktown, VA. The 7.38 acre site is anchored by Food Lion and Rite Aid. Located on Hampton Highway, the 98% occupied center is priced at $3.6 million. For more information, contact Kevin DiBona at (757-490-3300).
Collins Commercial Corp. has the listing to sell a 48,797 sq.ft. office-retail center in Tustin, CA. Located on Newport Avenue, the 4.55-acre site is anchored by Ruby’s Restaurant. The 100% occupied project is priced at $6.4 million or $131 per sq.ft. at a 10% cap rate. For more information, contact Robert Carlton at (949-851-2300).
Beitler Commercial Realty Services has the listing to sell a 58,939 sq.ft. shopping center in Woodland Hills, CA. The 2.47-acre site fronts Ventura Boulevard. The asking price is $6.8 million or $115.37 per sq.ft. at a 8.49% cap rate. For more information, contact Cheryl Pestor at (626-584-1442).
Charles Dunn Company brokered the sale of the 57,353 sq.ft. Redondo Village Shopping Center in Redondo Beach, CA on behalf of Regency Realty. The 5.1-acre site, anchored by Vons Market and Sav-On Drugs was acquired by Redunndo, LLC for $5.65 million or $98.51 psf. For more information, contact Charles Dunn Company at (310-312-1800), home page (www.charlesdunn.com).
Rein & Grossoehme brokered the sale of a 2,856 sq.ft. Econo Lube N Tune in Mesa, AZ on behalf of Herbeck Mesa Investors. Golison Development acquired the site for $760,000 or $266.11 psf. The site is located near Superstition Springs Mall. For more information, contact Jerry Robers at (602-954-0717).
Mahoney Realty Group has the listing to sell or lease the 15,000 sq.ft. former 1930’s style, single-screen Empress Movie Theater on Main Street in Manayunk, PA. The building has ceiling heights of 15 ft. to 60 ft. and can seat up to 200. The site is also available for lease. For more information, contact Marc Wiser at (610-645-4500).
Goldschmidt & Associates brokered the sale of a 32,500 sq.ft. Auto Zone anchored shopping center in Orange, CT. The center, located on U.S. 1 and adjacent to Circuit City, is undergoing renovation and 17,000 sq.ft. is available for lease. The center was purchased by affiliates of The HB Nitkin Group. For more information, contact Eric S. Goldschmidt at (914-723-1616).
Alliance Property Management has the listing to sell three net-leased properties tenanted by Tractor Supply Company. A 3.3 acre site in Denton, TX , located near Lowes, Wal-Mart and Office Max, is priced at $1.8 million with an 8% cap rate. A 2.2-acre site in Gonzales, TX, is located near Wal-Mart and has an asking price of $1.294 million at an 8% cap rate. A 3.42 acre site in Tyler, TX, is located near Hollywood Theater. It is priced at $875,000 with an 8% cap rate. The Tractor Supply Stores average 18,750 sq.ft. The company also is selling a Goodyear Tire & Rubber Co. location on .83 acres in Allen, TX. The asking price is $1.297 million at an 8% cap rate. For more information, contact JoAnne Hill at (888-828-3101).
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