Colliers International is selling an undeveloped 54.62-acre site with 2 000 sq.ft. of frontage on the corner of Highway 248 and NorthPointe Boulevard in Houston TX for $9.925 million or $14.20 psf. The parcel is located near Willowbrook Mall Methodist Hospital and the Compaq Computer World Headquarters. Subdivision is possible. The firm also is marketing a 14 000 sq.ft. 100 percent leased shadow strip on a Wal*Mart-anchored shopping center located in Lake Charles LA. Average rental rates are $14.83 psf and tenants are responsible for taxes insurance and CAM charges. The asking price is $2.076 million with a 9.6 percent cap rate and a cash-on-cash return of 11.6 percent.

For more information contact Christopher D. Winters Investment Services Colliers International 1300 Post Oak Boulevard Suite 225 Houston TX 77056; 713-830-2106 Fax 713-830-2118; Web site: www.collierstexas.com; E-mail:cwinters@collierstexas.com.

For more information contact John Compton Vice President and Regional Officer of the Midwest Region Regency Centers; 4380 Malsbary Road Suite 500 Cincinnati OH 45242; 513-686-2900; Web Site: www.regencycenters.com; E-mail: jcompton@regencycenters.com.

Chelsea Property Group Inc. has agreed to purchase a portfolio of outlet shopping centers from Konover Property Trust Inc. for $180 million. Closing is expected to take place in the third quarter of 2001. Chelsea Property Group is a fully integrated self-administered and self-managed real estate investment trust owning 27 manufacturer’s outlet centers totaling 8.2 million sq.ft. in 15 states and Japan.

Syms Corp. purchased the Strawberry Fields Shopping Center in West Palm Beach FL for $5.6 million. The Syms discount apparel store utilizes 54 300 sq.ft. of the center and 15 other tenants occupy the remaining 57 100 sq.ft.

Upland Real Estate Group Inc. negotiated the $3.3 million sale of a 10 125 sq.ft. CVS Pharmacy in Richmond VA. Also the company sold a 5 040 sq.ft. Hollywood Video location in Jackson MI for $930 000.

Developers Diversified Realty sold a former Best Products site now occupied by a 35 000 sq.ft. Ross Dress for Less in El Paso TX for $1.9 million and two non-core shopping centers in OH in a deal totaling $42.25 million. Proceeds from the 247 000 sq.ft. Kohl’s Shopping Center in suburban Cleveland and Airport Square a 188 000 sq.ft. shopping center in Toledo were used to repay debt and fund acquisitions and development projects.

Sterling Centrecorp purchased a 50 percent interest in Westside Market a 55 000 sq.ft. center in Fort Worth TX.

Shenkarow Realty Advisors and CB Richard Ellis negotiated a sale of the 91 121 sq.ft. Plaza Escondida shopping center in Tucson AZ for $10.2 million. Plaza Escondida was part of a portfolio including three other centers totaling 380 000 sq.ft. in the Tucson area: Northgate Plaza Speedway Square and the 86 505 sq.ft. Saguaro Vista Shopping Center which was sold for $4.55 million.

CB Richard Ellis negotiated the sale of a Regency Centers-owned 5 000 sq.ft. pad building under construction on 19 725 sq.ft. of land in Torrance CA for about $1.5 million. Anchors will be Radio Shack Quiznos and Supercuts. The center is slated to open this fall. The site is located in front of Abalone Square anchored by Ralph’s supermarket.

Internet dealmakers.net Inc. is seeking property in the southern California area for a 1031 Exchange client. Retail centers in the $3 to $4 million range with a market CAP rated or non-rated tenants and 10-year lease terms are preferred.

Grubb & Ellis is marketing a one-acre Memphis Bar-B-Q Co. site on I-181 in Martinsburg WV for $1.4 million at a 10 %CAP with a 15-year lease including two five-year options. Tenant pays taxes insurance and maintenance. The 3.5 acre Eckerd Drug and Advance Auto site in Virginia Beach VA also is for sale at an asking price of $2.45 million with a CAP of 9.5%. The 12 068 sq.ft. Eckerd lease runs for 20 years at a rent of $12.15 psf and the 8 075 sq.ft. 10-year Advance Auto lease has a rent of $9.75 psf. The center can be expanded by an additional 4 000 sq.ft. A 1.76 acre Merchant Tire & Auto Center site at Alexander Pointe in Charlotte NC is on the market for $1.858 million with a CAP of 9%. The 20-year lease contains three five-year options. A 56 993 sq.ft. parcel housing a Jack in the Box on West Broad Street in Richmond VA is being offered for $1 803 303 at a CAP of 9.75%. The 20-year lease contains no options. The company also is marketing the 56 173 sq.ft. Blackstone Plaza Shopping Center in Fresno CA at an asking price of $6.5 million. The center is anchored by Denny’s Laser Quest and Furniture Republic. The location serves a population of 324 130 in a five-mile radius earning a median household income of $61 107. The site is near a new Edward’s 26-screen multi-plex movie theater.

ComNet Realty Inc. is marketing several Tutor Time Child Care Centers in the Raleigh/Durham and Charlotte NC area. Leases are triple net 15-year terms with annual increases.