Richman Realty Associates has the listing to sell a Winn-Dixie-anchored shopping center with 4,800 sq.ft. of local tenants in Orlando, FL.  The asking price is $6.1 million based on an 8.5% cap rate with financing in place; the company has the listing to sell a Publix-anchored shopping center with 20,000 sq.ft. of local tenants located in central FL.  NOI is $600,000, and the asking price is based on an 8.5% cap rate; the company has the listing to sell a Staples located in New England NN leased for 15 years with three five-year options with bumps in the 10th year.  The initial NOI was $390,000 and the asking price is based on a 9% cap rate.

  For more information, contact Sy Richman at 561-852-8346, Email syrich@aol.com

 

Trout, Segall & Doyle LLC has the listing to sell a fee interest in a Montgomery Ward & Co. property located at Security Square Mall on Security Boulevard in Baltimore, MD.  The 1.2 million sq.ft. mall is anchored by Sears, Hecht, JC Penney, Old Navy and Burlington Coat Factory.  The 140,000 sq.ft. building sits on 16 acres.  The property is leased for 30 years ending during February 2003, with six five-year options.  If the tenant stays, purchaser receives an absolute triple net lease with market returns.  Tenant has right during any option period to purchase the fee at appraised fair market value.

  For more information, contact Arthur Putzel at 410-435-4000, Fax 435-4277, Email aputzel@troutsegall.com. 

 

Colliers International has the listing to sell an America’s Service Station located on Preston Road in Dallas, TX.  The 3,920 sq.ft. one-story building sits on a parcel of .411 acres.  The asking prices is $1.414 million based on an 9% cap rate.  The company also has the listing to sell Midas Center, a 28,100 sq.ft., three-tenant, 100% leased shopping center on a parcel of 108,000 sq.ft. located at the intersection of 7th Avenue and Everett Mall Way in Everett, WA.  The asking price is $2.8 million based on a 9% cap rate.  Canned Foods Grocery and Midas anchor the facility.  Demographics show a population of 171,204 residing within five miles earning $53,349 as the average income.  A 20,000 sq.ft. back parcel can be included in the offering.   

  For more information on the America’s Service Station property, contact David Butler at 713-830-2105, Email dbutler@collierstexas.com; for more information on the Midas Center, contact Paul Sleeth at 206-223-0866, Email paul_sleeth@colliers.com

 

R&R Commercial Real Estate Services has the listing to sell a 10-acre parcel zoned community  commercial and located on the southwest corner of Green Valley Parkway and Carnegie Street in the Las Vegas suburb of Henderson, NV.  The asking price is $2.9 million.

  For more information, contact Jack Rappaport at 702-732-7332, Fax 732-7020.      

 

Met Realty Corporation is seeking shopping centers and other properties, or land on which to build in NJ.  A quick purchase is desired.

  For more information, contact 201-866-4800, Fax 866-9477.

 

Madison Commercial Group is seeking leased commercial property in Temple, Waco, Dallas Austin and possibly San Antonio, TX with a true cap rate of 10% or higher with upside.

  For more information, contact Kathy Gordon at 512-836-8166, Fax 836-5601, Email krgordon@ev1.net

Universal Realty Group is representing a client seeking strip centers in the $3 million to $15 million range located in Hillsborough, Pinellas or Pasco Counties in FL.  The client will consider freestanding sites with solid tenant-income.

  For more information, contact Frank Marino at 813-961-9096, Fax 961-9097.

 

Ziff Properties purchased Roosevelt Gardens Shopping Center, a 107,000 sq.ft. center located in Norfolk, VA.  Robinson Sigma Commercial Real Estate, Inc. represented the seller.  The company continues to seek value-added multi-tenant retail properties in the $1 million to $15 million range in northern FL, GA, NC, SC and southern VA.

  For more information, contact Sharon Relford at 843-724-3463, Fax 724-3400, Email srelford@zpi.net

 

Woodmont Corporation and ORIX Real Estate Equities have joint ventured to acquire 20 acres zoned for retail located at the northeast corner of U.S. Highway 377 and North Tarrant Parkway in Keller, TX.  Plans call for the construction of a 180,000 sq.ft. shopping center anchored by a  108,000 sq.ft. Home Depot home improvement center.  In a simultaneous transaction, Woodmont/ORIX sold 11 acres to Home Depot, adjacent to an existing Kohl’s department store.  The Home Depot is scheduled to open during Spring 2001.

  For more information, contact 817-732-4000, Fax 735-4738.

 

Kin Properties is selling  a ground lease under a Kmart-anchored shopping center in Fairborn, OH.  The lease is a single-tenant NNN arrangement.

  For more information, contact Lee Cherney at 914-683-8080, Web site www.kinproperties.com/properties/property_3261.html

 

Blank-Tye Properties was recently formed for the acquisition and development of income-producing real estate.  An affiliate of Jeffrey Blank & Associates of Jenkintown, PA, the new company will concentrate on acquiring commercial, industrial, office and residential projects on a local, regional and national basis.

  For more information, contact 215-887-5555.

 

Real Estate Investment Strategies, Inc. has a client interested in non-anchored retail with infill locations in FL.  Centers of up to 100,000 sq.ft. located close to coastal areas are of interest, and centers should have strong tenants and a strong rental history.

  For more information, contact Duane Bennett at 561-805-9891, Fax 805-9892, Email dhlbennett@2ccim.net

 

CB Richard Ellis negotiated the sale of a 26-acre parcel of land located at the southwest corner of 83rd Avenue and Thunderbird Road in New Peoria, AZ.  Scientific Development Corporation was the seller, and Opus West Corporation was the buyer.  The sale price was $5.28 million.  Plans call for the development of Thunderbird Crossing, a 215,000 sq.ft. shopping center anchored by a 135,000 sq.ft. Lowe’s.  Lowe’s purchased 16.3 of the original 26 acres for $3.9 million for the purpose of constructing a store, which is slated to open during Spring 2001.  Kimmel & Young purchased the remaining 10 acres for $2.45 million and expects to develop an 80,000 sq.ft. Phase II of Thunderbird Crossing.

  For more information, contact 602-222-4343. 

 

Island Associates Real Estate brokered the sale of Terryville Shopping Center, a 55,000 sq.ft. center anchored by Genovese Drugs in Terryville, NY.  Horizon Group purchased the center for $3.775 million from Terryville Associates.

  For more information, contact Roger Delisle at 631-587-5050, Fax 587-0239.

 

Cohen and Company Real Estate brokered the sale of Boynton Beach Shopping Center, a 73% occupied shopping center located on North Federal Highway in Boynton Beach, FL.  The center is anchored by a 9,596 sq.ft. Family Dollar and 8,613 sq.ft. Discount Auto Parts.  LSOF Cynwyd, L.P. was the seller, and MBJ Chelsea, LLC was the buyer.

  For more information, contact 212-679-1222.

 

Newleaf Corporation has announced that a September 21 date has been set for the auction sale of the 890,000 sq.ft., 64-acre Harrisburg East Mall in Swatara Township, PA.  EQK Realty Investors I, which owns the mall, filed for Chapter 11 bankruptcy protection in December 1999 to prevent foreclosure by its creditors.  The auction was necessitated when a potential buyer withdrew it $46.5 million purchase proposal in July.  Bidders will be required to submit a $1 million certified check to participate in the auction, and the money will be immediately returned if they are not the successful bidder.  The successful bidder is expected to make closing on Sept. 27th, and the main secured creditor, The Prudential Insurance Co., is to be paid off by Sept. 29th.  If no suitable third-party bids are submitted, The Prudential Insurance Co. will likely submit a credit bid.

  For more information, contact Lloyd Whitaker at 770-433-9400.

 

Millennium Properties, Inc. sold a property formerly housing a Checkers fast food restaurant located on South Stony Island Avenue in Chicago, IL on behalf of a financial institution.  The property had been foreclosed upon by a major midwestern lender.

  For more information, contact Daniel Hyman at 312-338-3003.

 

Trammell Crow Company has the listing to sell several Children’s World Learning Centers located in IL, MA, MI, MO, NC and NJ.  All leases are for 15 years, two months with 4% bumps every three years and three five-year options to renew under the same conditions.  Demographics include an average household income approximating $90,000 for each area.  Each property is priced based on an 8.8% cap rate.  The properties include an 8,900 sq.ft., 1.53-acre property located on West Main Street in Freehold, NJ.  The asking price is $1.446 million; an 8,900 sq.ft. 1.15 acre property on West Spring Street in South Elgin, IL.  The asking price is $1.882 million; an 8,900 sq.ft., .75 acre property located on Stokes Road in Medford, NJ.  The asking price is $1.658 million; an 8,400 sq.ft., 1.26-acre center located on Big Bend in Valley Park, MO.  The asking price is $1.658 million; a 10,906 sq.ft., 1.92-acre property located on West Center Street in West Bridgewater, MA.  The asking price is $1.934 million; and an 8,850 sq.ft., 2-acre property located on Northpointe Road in Utica, MI.  The asking price is $1.767 million.

 For more information, contact Piet Visser in 415-986-1900.

 

Crossover Commercial Group, Inc. has the listing to sell a 17,760 sq.ft. mixed-use strip center located in Palm Bay, FL.  The center is 96% occupied and lists gross income number for 1999 of $129,850 and NOI of $84,464.

  For more information, contact Carmine Ferraro at 407-633-3724, Fax 633-5636, Email cpstferraro@juno.com

 

Robert Stuart represents a client seeking underperforming shopping center located in the Midwest.  High vacancies and serious repair jobs are of interest, as are centers that are merely underperforming.  Shopping centers should be 100,000 sq.ft. or more, including regional malls.

  For more information, contact Bob Stuart at 407-266-1628, Email rubobstu@aol.com  

 

Greater Houston Commercial Real Estate has the listing to sell a five-acre tract located between a large Randall’s-anchored shopping center and an apartment complex visible from Sawdust Road and located on the border of Montgomery County and City of Houston.  The site fronts Budde Road and the daily traffic count is 50,000 cars.

  For more information, contact John Tatum at 281-367-5549.