Buyers & Sellers

For more information on Long Beach Promenade, contact Richard Rizika at 310-516-2338. For more information on Currier Square, contact Don Howson at 916-446-8269, John DuBois at 916-446-8761 or Jon Gianulis at 916-446-8787, Fax 446-8750.

Arroyo & Coates has the listing to sell a 96,000 sq.ft. two-tenant property triple net-leased for 20 years and 10 years located in Chula Vista, CA. The site is tenanted by Sports Authority and Bed Bath & Beyond. Other tenants at the center include Von’s Grocery, Longs Drugs and Marshall’s. Demographics include a population of 385,516 residing within five miles earning $42,300 as the average income. The owner recently received new financing. NOI is $955,461.The asking price is $10.75 million at a cap rate of 8.89%, 8.5% cash-on-cash first year.

For more information, contact Eric Wilcox at 415-445-7800, Fax 392-2701, Email ewilcox@a-c.com.

Grubb & Ellis has the listing to sell a 166,000 sq.ft. center with four outlots also available, in Gary, IN. The center is 70% occupied. The asking price is $5 million; the company also has the listing to sell a 37,714 sq.ft. center located at a four-way intersection in Merrillville, IN. Eagle Foods was a former tenant. The asking price is $1.4 million; a 14,015 sq.ft. center at a high-traffic count intersection in Lyons, IL. The asking price for the 90%-occupied center is $1.95 million; a 100%-leased two-building center of 10,052 sq.ft. in Joliet, IL. The asking price is $1.3 million; and a 1,466-acre lot just south of the Route 66 Raceway and the New Chicagoland Raceway NASCAR Track in Will County, IL. The owners will divide the lot, and the asking price is $25,000 per acre.

For more information, contact David Florent at 847-655-8483, Email david.florent@grubb-ellis.com

James E Hanson Co., Inc. has $250 million available to invest in single tenant sale/leaseback transactions in the U.S., Canada, Mexico and Europe. Tenants can be sub-investment grade, and turnaround companies are of interest. Transactions of $4 million are the minimum, with no maximum. Ideal tenants own their buildings or want to build to suit, but the company will also consider existing properties. Pre-construction purchases with full funding up front are also available.

For more information, contact Peter Kellner at 201-488-5800, Fax 488-0246.

Freitas Associates, Inc. Real Estate is seeking corporate sale/leaseback opportunities of single tenant lease properties. Preferred tenants will have ‘B’ or better credit rating and net worth exceeding $80 million. Transactions should be in the $3 million to $100 million range, and net leases of 20 years starting as low as 8.5% to 9% of total cost are offered.

For more information, contact Richard Freitas at 508-239-2042, Fax 238-2929, Email rfreitas@ici.net

Continental Equities, Ltd. represents a client with $300 million in hard equity interested in acquiring shopping centers of 60,000 sq.ft. or more, anchored by a supermarket, Wal*Mart, Kmart or equivalent. Older centers are preferred with upside potential via vacancy, releasing, repositioning, expansion, etc., but the client will also consider new centers at market cap rates. All portfolios, carveouts, single centers and development projects given consideration within 36 hours of submission.

For more information, contact Mark Francis at 301-898-0505, Fax 503-217-9307.

Lamar Companies purchased Willowchase Shopping Center, a 273,946 sq.ft. center anchored by Fiesta Mart, PETsMART, Mervyn’s and Jo Ann Fabrics and located at the intersection of Highway 249 and FM 1960 in Houston, TX. Spaces of 1,300 sq.ft. to 25,000 sq.ft. are available.

For more information contact Dana Kehs at 800-526-0762, Fax 610-530-2451.

Casto Southeast, Inc. has the listing to sell Seminole Lakes Plaza, a 62,500 sq.ft. shopping center anchored by Kash n’ Karry and located at the intersection of U.S. Route 41 and Acline Road in Punta Gorda, FL. The center also has four outparcels ready for development which can be purchased or leased separately. Demographics show a trade area population of 37,826 earning $36,000 as the average income. The daily traffic count is 17,231 cars on Acline Road, and the center has 391 parking spaces.

For more information, contact 941-926-0051, Fax 925-9562.

Upland Real Estate Group, Inc. represented the seller in the sale of a 23,500 sq.ft. OfficeMax located in Dilworth, MN. Marcor Investment Properties represented the seller.

For more information, contact Deb Peterson at 612-376-4475, Fax 376-4489.

First Development Corporation has the listing to sell 11 acres with approvals to build an 85,000 sq.ft. shopping center at a signalized intersection in Medford, NY. Demographics show a population of 68,000 residing within three miles earning $62,000 as the average income. The company will also consider leasing the property.

For more information, contact Art Garritano at 631-234-3200, Fax 234-3695.

Kennedy-Wilson, Inc. purchased Old Mill Place Shopping Center, a 153,000 sq.ft. center anchored by Family Dollar, Hobby Lobby, Hancock Fabrics and Blockbuster Video and located at the intersection of Bandera and Huebner Roads in San Antonio, TX. CC Realty Partners was the seller. The center is 92% occupied, and other tenants include Whataburger and Long John Silver’s. The sale commenced after Kennedy-Wilson was able to form a partnership with several local equity investors to purchase the property and arrange for $7.5 million through IDS Life Insurance Company, an affiliate of American Express Financial Corporation. A significant portion of the financing will be used to renovate and upgrade the center in attempts to attract national and regional retailers.

For more information, contact Kathryn Grant at 310-887-6488, Fax 887-3447, Email kgrant@kennedy-wilson.com.

The Hutensky Group has the listing to sell a 23,942 sq.ft. Staples on 2.1 acres located at the intersection of Interstate 70 and Old Troy Pike in Huber Heights, OH. The asking price is $2.8 million at a 9.4% cap rate, with broker participation. The company has the listing to sell Salem Center, a 20,140 sq.ft. center tenanted by Casual Male, Norwest Financial and U.S. Army Corp. and located on Salem Avenue in Trotwood, OH. NOI is $283,126, and the asking price for the 100% occupied center is $2.3 million at a cap rate of 12.4%. The company also has the listing to sell Northwest Outlot, an 11,874 sq.ft. facility tenanted by Hollywood Video and located at the intersection of Philadelphia Drive and Siebenthaler Avenue in Dayton, OH. NOI is $159,296, and the asking price for the 100% occupied center is $1.3 million at a cap rate of 12%.

For more information, contact Jodi Tomany or Joe French (for the Staples property, contact Joe French exclusively) at 860-527-2222, Fax 706-0076.