Buyers & Sellers
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Buyers & Sellers


Paragon Realty Group LLC and Mark Holdings LLC acquired the Samsondale Plaza Shopping Center a 140 000 sq.ft. center anchored by Shop Rite Supermarket. The center is located on Route 9W in West Haverstraw Rockland County NY.

For more information contact John A. Nelson Paragon Realty Group LLC 30 Jelliff Lane Suite 201 Southport CT 06490; 203-254-7077 Fax 203-254-7081; Email: jnelson@paragonrealtygroup.com; or contact David Schore Mark Holdings LLC 111 East 61st Street New York NY 10021; 212-750-9422 Fax 212-750-9421.

Palms Associates is seeking 15 to 25 acres of land behind new and proposed strip centers in VA NC SC GA and TN. Preferred sites are near growing populations of 100 000.

For more information contact Ben Simon or Kevin Tucker Palms Associates; 757-340-3535 Fax 757-631-9155; Email: gzitkus@palms.net.

Borrus Associates is seeking to acquire anchored strip neighborhood and power centers in NY NJ CT PA MD and DE.

For more information contact Julius Borrus U.S. 3333 Highway 9 Old Bridge NJ 08857; 732-679-4100.

Roberts Organization is looking to acquire shopping centers with GLAs of 100 000 sq.ft. to 900 000 sq.ft. in NY NJ PA DE CT MD VA and FL.

For more information contact Rick Greenberg Roberts Organization 4 East 80th Street New York NY 10021; 212-734-0500 Ext. 1602.

The Vanguard Group is seeking to acquire shopping centers in NY and the NJ metro area for its investors with transactions between $1 million and $10 million. The company’s investors are also seeking land and freestanding sites.

For more information contact Neal Richards The Vanguard Group; 973-443-9700 Ext 15 Fax 973-966-0123; Email: realnewjersey@aol.com.

CB Richard Ellis has the listing to sell Pine Avenue Retail a store front development in Long Beach CA that is anchored by Express Bath and Body Works Crate & Barrel and Starbucks. The property consists of four in-line retail buildings totaling 25 375 sq.ft. and running from the southeast corner of Pine Avenue and Third Street. The site is located across the street from the $65 million City Place development which will consist of 350 apartment units a 120-room hotel Nordstrom Rack Ross Dress for Less and Albertson’s supermarket. The asking price is $5.774 million at a CAP rate of 9.5%.

For more information contact CB Richard Ellis 990 West 190th Street Suite 100 Torrance CA 90502; 310-516-2300; Fax 310-516-2310; Web site: www.cbre.com.

S.L. Nusbaum Realty Co. brokered the sale of several properties. The company represented Mitch Inc. in the sale of seven Hampton Road Dairy Queen locations to an investment group led by Virginia Capital Inc. in a $7 million transaction. In addition S.L. Nusbaum Realty Co. represented New Plan Realty Trust in the sale of two Wal*Mart anchored centers to Graff Goldman Interest Inc.: River Run Shopping Centre in Coshocton OH for $3.35 million and Cedar Town Shopping Center in Cedar Town GA for $4.44 million.

For more information contact S.L. Nusbaum Realty Co. 1000 Bank of America Norfolk VA 23510; 757-627-8611 Fax 757-640-2256.

Net Leased Investments has the listing to sell a Walgreens in Palm Beach County FL. The asking price is $3.9 million. The CAP rate is 8% and the NN lease runs 20 years.

For more information contact Bob Fraser Net Leased Investments 103 Blue Creek Drive Winter Springs FL 32708; 407-977-2448; Fax 407-977-0775; Web site: www.netleased.com.

Divaris Real Estate brokered two sales on behalf of Hannaford Bros Inc. including 7.3 acres of land at 221 East Woodlawn Road in Charlotte NC to the Ghazi/Cornellson Group Inc. for $4.4 million. The buyer plans to demolish the existing buildings and create an 80 000 sq.ft. strip center. Divaris also negotiated the sale of 1.7 acres of land at Wilsons-Bay Village on Highway 50 in Conway SC to Edens and Avant who plans to redevelop the shopping center. The company also brokered the sale of a former 90 000 sq.ft. Hechinger store and a 30 000 sq.ft. garden center located at 66 Mountain Road in Glen Burnie MD to The Home Depot. The company also negotiated the sale of a 1.8 acre parcel in Redmill Commons Shopping Center in Virginia Beach VA to Sonic Restaurant which will join Wal*Mart and TJ Maxx. The center is located on Nimmo Parkway. Sonic Restaurant also purchased a one-acre parcel at the intersection of Thrasher Road and Battelfield Boulevard in Chesapeake VA joining Lowes in a shopping center.

For more information contact Gerald S. Divaris One Columbus Center Suite 700 Virginia Beach VA 23462; 757-497-2113 Fax 757-497-1338; Email: info@divaris.com.

Whipple Companies is looking to acquire land for development in Asheville Charlotte and Raleigh NC and Columbia Charleston and Greenville SC. The company prefers growth areas with highway frontage for self storage facilities and will consider locations for multi-family and retail with room for anchors and outlots. Sites requiring rezoning will be considered.

For more information contact Mike Whipple Whipple Companies PO Box 436252 Louisville KY 40253; 502-244-3333 Fax 502-429-0296; Email: MikeWhipple@WhippleCompanies.com.

Grubb & Ellis/Harrison & Bates negotiated the sale of the 70 000 sq.ft. Market Place Shopping Center in Ocean City MD to Y & M Commercial Realty for $5.117 million. The company also negotiated the sale of the 30 000 sq.ft. former Safeway Supermarket in West Point VA to Industrial Development Authority of West Point for $550 000.

For more information contact Grubb & Ellis/Harrison & Bates 830 E. Main St. 5th floor Richmond VA 23219; 804-788-1000 Ext. 213 Fax 804-782-1145; Web site: www.harrison-bates.com; Email: lynn.mcdaniel@harrison-bates.com.

Holliday Fenoglio Fowler L.P. brokered the sale of Parkway Place a 262 624 sq. ft. shopping center in Norman OK to Kimco Realty Corporation.

For more information contact Holliday Fenoglio Fowler LP 8401 N. Central Expressway Suite 400 Dallas TX 75225; 214-265-0880.

Weingarten Realty Investors sold the 107 000 sq.ft. Mid-County Shopping Center in Midland TX to Albanese Real Estate Investment Ltd. The company also sold the 37 000 sq.ft. Northwest Park Plaza shopping center in Houston TX to Champion Commons LLC.

For more information contact Weingarten Realty Investors PO Box 924133 Houston TX 77292; 713-866-6000 Fax 713-866-6049; Web site: www.weingarten.com.

Staubach Retail Services brokered the sale of 2.25 acres of land on the southeast corner of IH-35 and Corporate Drive in Lewisville TX to TJ Hartford’s Sports Grille which built a 7 800 sq.ft. restaurant at the site.

For more information contact Michelle Davis The Staubach Company 15601 Dallas Parkway Suite 400 Addison TX 75001; 972-361-5028 Fax 972-361-5902.

Trammell Crow Company negotiated the sale of the 99 329 sq.ft. grocery-anchored Country Walk Plaza on behalf of the Teachers Insurance and Annuity Association- College Retirement and Equity Fund for $13.1 million. The shopping center is anchored by a Publix Supermarket and Eckerd Drug and is located on the northwest corner of S.W. 152nd Street and S.W. 137th Avenue in Miami-Dade County. Trammell Crow Company also brokered the sale of a 113 485 sq.ft. shopping center anchored by Ross ‘Dress for Less’ and Ethan Allen.

For more information contact Peter Filomena Trammell Crow Company 1801 N. Military Trail Suite 150 Boca Raton FL 33431; 561-394-8170 Fax 561-394-4414; Web site: www.trammellcrow.com.

NAI Mertz Corporation brokered the sale of a 10 000 sq.ft. center at 23 Easton Road in Willow Grove PA to Willow Grove Bank on behalf of D.H. Cutler Realty. The strip center is tenanted by Bali Spas Dr. Cohen Opthamology and Klinghoffer Carpers.

For more information contact Faye M. Mertz NAI Mertz Corporation 21 Roland Ave. Mt. Laurel NJ 08054; 856-234-9600.

Flocke & Avoyer Commercial Real Estate brokered the sale of a 21 030 sq.ft. strip center located at 1516 E. Valley Parkway in Escondido CA to Jamil and Najat Nafso for $1.325 million.

For more information contact Eric Costa Flocke & Avoyer Commercial Real Estate 3131 Camino Del Rio North Suite 190 San Diego CA 92108; 619-280-2600 Fax 619-280-3311; Web site: www.flockavoyer.com

Prudential DicksonHughes Commercial Services brokered the sale of a 3 200 sq.ft. former Burger King at 2020 East Main Street in Columbus OH to the Kroger Company which will use the site for future development.

For more information contact Christy McDaniel Prudential DicksonHughes Commercial Services 8777 Purdue Rd. Suite 300 Indianapolis IN 46268; 800-501-5076.

Besen & Associates Co. Inc. is marketing 19 300 sq.ft. of space on 2.8 acres at Dunkin’ Donuts Plaza in Miller Place-Suffolk Long Island NY at an asking price of $2.1 million.

For more information contact Laurence Ross Besen & Associates. Inc. 381 Park Ave. South Suite 1517 New York NY 10016; 212-689-8488 Fax 212-689-9518.

Colliers Arnold Commercial Real Estate Services negotiated three contingent land acquisitions in Hillsborough County FL on behalf of Buckley Shuler Properties which intends to build a Wal*Mart Center on the 68-acre site. The sellers of the property were the Valspar Corporation and the Porter Family Trust.

For more information contact Pat Duffy or Lee Arnold Colliers Arnold/Clearwater; 102 W.Whiting St. Suite 300 Tampa FL 33602; 727-442-7184.

Cedar Income Fund Ltd. acquired three supermarket-anchored shopping centers totaling 470 000 sq.ft. for $34.5 million. Two of the centers are located in Philadelphia PA and the other is in Washington Township NJ. The acquisition was funded in part by the use of the net proceeds of the sale by the company of the Broadbent Business Center in Salt Lake City UT.

For more information contact Cedar Income Fund Ltd. 44 S. Bayles Ave. Suite 304 Port Washington NY 11050; 516-767-6492 Fax 516-767-6497; Web site: www.cedarincomefund.com.

Kramont Realty Trust acquired the 133 611 sq.ft. Village West Shopping Center in Allentown PA for $18.9 million. The acquisition is in the form of an exchange of partnership interest in Cedar Crest Associates LP which owns the shopping center for partnership units of Kramont Operating Partnership and the assumption of debt. Village West Shopping Center is located at West Tilghman and North Cedar Crest.

For more information contact Louis P. Meshon Sr. Kramont Realty Trust 580 W. Germantown Pike Plymouth Plaza Suite 200 Plymouth Meeting PA 19462; 610-825-7100 Fax 610-834-8110; Email: lmeshonsr@kramont.com.

Marcus & Millichap Inc. brokered the sale of the 18 050 sq.ft. Venridge Plaza Shopping Center on Ventura Boulevard in Woodland Hills to a family trust in a 1031 Exchange for $3.1 million at a 9.5% Cap rate. The company is selling a 3 230 sq.ft. Arby’s restaurant in Decatur AL for $1.488 million and a 3 294 sq.ft. Arby’s in Dawsonville GA for $1.535 million. The Decatur location sits on 1.17 acres and has an annual rent of $131 688 while the Dawsonville location sits on .79 acres and has an annual rent of $134 375.

For more information about Venridge Plaza Shopping Center contact Courtney R. Washburn Marcus & Millichap Inc. 1055 West Seventh St. Suite 1700 Los Angeles CA 90017; 213-623-7800 Ext. 513 Fax 213-489-1246; Email: Cwashburn@marcusmillichap.com. For more information about the Arby’s contact Chris Rea Marcus & Millichap 1200 Abernathy Rd. Northeast Building 600 Suite 650 Atlanta GA 30328; 678-942-4626 Fax 810-454-0470; Email: crea@marcusmillichap.com.

Michaelson Commercial Real Estate is marketing a 10 000 sq.ft. building on 70 000 sq.ft. of land in La Palma CA. The building is the former site of a Denny’s restaurant.

For more information contact Terry Michaelson Michaelson Commercial Real Estate 5335 Penfield Ave. Woodland Hills CA 91364; 818-348-0446; Email: tmichaelson@earthlink.net

Inland Retail Real Estate acquired the 70 555 sq.ft. Publix anchored Aberdeen Square Shopping Center for $6.68 million. The center is located at the southwest corner of Le Chalet Boulevard and Military Trail in Palm Beach County FL.

For more information contact Rick Fox Inland Communications Inc. 2901Butterfield Rd. Oak Brook IL 60523; 630-218-8000 Ext. 4896; Email: rfox@inlandgroup.com.

Rein & Grossoehme brokered the sale of a 4 800 sq.ft. single-tenant property in Mesa AZ to KM Jong for $730 000 on behalf of Arthur Gutkin. The property is located on the southwest corner of Main Street and Lindsay and is occupied by JB’s Restaurant.

For more information contact Jerry Robers Rein & Grossoehme 3900 E. Camelback Rd. Suite 408 North Phoenix AZ 85018; 602-954-7000 Fax 602-954-7001; Email: mail@High-Yield.com

Grubb & Ellis brokered the sale of a 6 400 sq.ft. building located at 6908 Miramar Road in San Diego CA for $1.65 million to the Geneva M. Nichols Family Trust. The building is occupied by Denny’s restaurant.

For more information contact David O’Rell Grubb & Ellis 2215 Sanders Rd. Suite 400 Northbrook IL 60062; 856-546-6804.