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Buyers & Sellers
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Buyers & SellersDivaris Real Estate brokered the sale of the 371,737 sq.ft. Crossways Shopping Center in Chesapeake, VA. Jubilee Limited Partnership purchased the center for over $26 million from Benefit Capital. The Designer Shoe Warehouse and Value City Furniture have signed leases to join Office Depot, Marshalls and Montgomery Ward as tenants. For more information contact Gerald S. Divaris, Divaris Real Estate, 757-497-2113; Fax 757-497-1338.
Colliers International brokered the sale of the 350,000 sq.ft. Northpointe Plaza Shopping Center in Spokane, WA. Paul Sleeth of Colliers and Terry Moss of Commercial Realty Group were the exclusive agents for the $44 million deal. The community center is tenanted by Safeway, Gart Sports, Linens ‘N Things, Petsmart, Staples, TJ Maxx, Rite Aid, Best Buy, Pier 1 Imorts and Fashion Bug. For more information contact Paul Sleeth, Colliers International, 206-223-1266; Fax 206-223-1427; E-mail: Paul_Sleeth@colliers.com; or Terry Moss, Commercial Realty Group, 206-949-6363; Fax 425-646-9962; E-mail: tmoss@gateway.net.
Marketplace Properties is seeking retail development or value added properties in CA, NV or AZ to complete a 1031 exchange for a client. Parcels from one to 20 acres will be considered or projects with GLAs between 10,000 sq.ft. to 200,000 sq.ft. Higher population densities are preferred. For more information contact Rich Carr, Marketplace Properties, 13522 Newport Avenue, Suite 100, Tustin, CA 92780; 714-731-8888; Fax 714-730-3525.
The Ross Realty Group brokered the sale of the 15,583 sq.ft. Blockbuster Shopping Center in St. Petersburg, FL. The company represented both buyer and seller in the $1.85 million deal. The center is anchored by Blockbuster Video, Ya Ya’s, Blimpies and Amscot. For more information contact Steve Jorgensen, Ross Realty Group, 20505 U.S. Highway 19 North #502, Clearwater, FL 33764-7313; 727-725-2800; Fax 727-726-6780; Website: www.rossrealty.com.
Grubb & Ellis has brokered the sale of a 6,290 sq.ft. center in San Diego, CA. The company represented the buyer in the $2.3 million transaction. The center is 100% leased. Grubb & Ellis also brokered the sale of the 111,597 sq.ft. Pomona Gateway Center in Pomona, CA. The buyer, SOL Properties, LLC plans to open an 81,000 sq.ft. Superior Super Warehouse in the center. The company represented the buyer in the deal. For more information contact Grubb & Ellis. For the San Diego sale contact David Ghermezian, 310-477-3800; Fax 310-478-9478. For the Pomona deal contact Herb Andrews, 949-608-2000; Fax 949-608-2003.
Coldwell Banker Commercial has the listing the sell a freestanding 39,300 sq.ft. Wal*Mart building with a NNN lease in Carthage, TN. The asking price is $1.9 million with a 9.5% CAP rate. The facility was built in 1984 on a 4.77-acre lot. For more information contact Hal Alpert, 800-322-9411 ext. 2274; Email: hsalpert@ccim.net.
James Kaplan Companies, Inc. acquired One Milwaukee Place Shops in Wheeling, IL and 4701 South Cicero Avenue in Chicago, IL which is tenanted by Starbucks. For more information contact James Kaplan Companies, 1770 First Street, Suite 201, Highland Park, IL 60035; 847-681-1400; Fax 847-681-1412.
Arvida Realty Services has the listing to sell a 6,128 sq.ft. retail, bank or fast food site in Miami, FL. The 25,400 sq.ft. parcel is located on US 1 at North Kendall Drive near Dadeland Mall. Asking price is $2.3 million. For more information contact Kim Wilson, Arvida Realty Services, 1500 San Remo Avenue, Suite 110, Coral Gables, FL 33146; 305-667-4815; Fax 305-667-5531.
Sentinel Realty Advisors has the listing to sell three buildings leased to Dollar Video in IL. The 9,200 sq.ft. McHenry, IL site is located on Route 120 west of Route 31 near the Jewel Osco anchored center. The asking price for the 1.5-acre site is $895,000 at a 10.28% CAP rate. The property is also available for rent at $92,000 annually. The 9,217 sq.ft. Dekalb, IL site is located on Lincoln Highway. The asking price is $835,000 at a 10.5% CAP rate. The 1.5-acre site is available for rent at $87,500 annually. The 7,200 sq.ft. out parcel in a shopping center in Loves Park, IL is located at Second and Windsor Streets. The asking price for the 0.6-acre site is $864,000 at a 10% CAP rate. The property may be rented at $86,400 annually. For more information contact Tom Vincent, Sentinel Realty Advisors, 1803 Hicks Road, Suite D, Rolling Meadows, IL 60008; 847-963-1031; Fax 847-358-7634; Email: fmic@cin.net.
CB Richard Ellis has the listing to sell and has lowered the asking price on the following Westrust properties: Sherwood Gardens in Salinas, CA is being offered for $13.9 million at a 11.6% CAP rate; Valley Shopping Center in Sacramento, CA is being offered at $10.4 million with a 9.6% CAP rate and Venetian Square Shopping Center in Stockton, CA is offered at $7.2 million at a 10.2% CAP rate. For more information contact Don Howison, CB Richard Ellis, 555 Capitol Mall, First Floor, Sacramento, CA 95814; 916-446-8269; Fax 916-446-8750.
Voit Commercial Realty has the listing to sell a 21,320 sq.ft. center in Southern CA. The asking price is $5.7 million. Tenants include Petco, Coffee Bean, Sprint, Togo and Supercuts. For more information contact Joe A. Cyr, Voit Commercial Brokerage, 18500 Von Karman Avenue, Suite 150, Irvine, CA 92612; 949-851-5100; Fax 949-261-9092; Email: jcyr@voitco.com.
Ed Gray USA Commercial Real Estate has the listing to sell a 12,088 sq.ft. former car dealership in Peekskill, NY. The 1.4 acre lot is located at 1075 Washington Street and area demographics include a population count of 35,259 residing in a three-mile radius earning an average annual household income of $50,711. The company also has the listing to sell or lease a 4.395 acre parcel at Route 6 and Hill Boulevard in Jefferson Valley, NY. The site is adjacent to Lourdes Plaza Shopping Center and in proximity to Jefferson Valley Mall. Build to suit will be considered. Area demographics include a population count of 77,663 residing in a five-mile radius earning an average annual household income of $84,179. For more information contact Ed Gray, 30 Glenn Street, Third Floor, White Plains, NY 10603; 914-682-8556; Fax 914-682-3257; Email: edgrayusa@aol.com.
Location Realty, Inc. has the listing to sell or lease a one-acre-plus of commercially zoned land on Route 372 in Cromwell, CT. The site has access to Interstate 91 and Route 9 and may have a drive-thru built. The company also has the listing to sell a 1,345 sq.ft. restaurant site in Wethersfield, CT. The unit has 191 feet of frontage on Silas Deane Highway (Route 99) with an average daily traffic count of 20,000 cars. City utilities are available and area demographics include a population count of 101,005 residing in a three-mile radius earning an average annual household income of $52,910. For more information contact Location Realty, Inc., 921 Saybrook Road, Middletown, CT 06457; 860-344-0001; Fax 860-346-4433.
Michael Antkies Real Estate has the listing to sell or lease 6.2 acres adjacent to the Hudson Valley Mall in Kingston, NY. The site is visible from Route 9W and Mall Ring Road and opposite two million sq.ft. of office space. Area demographics include a population count of 44,561 residing in a five-mile radius earning an average annual household income of $44,734. For more information contact Michael Antkies or Art Howitt, 29 Sugar Hollow Road, Danbury, CT 06810; 203-798-7766; Fax 203-798-6340. |