Buyers & Sellers

Tucker Investments acquired the Colonial Plaza shopping center in Waterbury, CT. The center had been anchored by Pathmark Stores, Inc. until 1997. The center was divided into two sections when sold to two entities within Tucker Investments and the total transaction price was $2.5 million. FRG Colonial Plaza Inc. was the seller.

For more information contact John Cook, Tucker Investments, 468 Post Road East, Westport, CT 06880-4918; 203-221-1111, Fax 203-221-7727.

Colliers International has the listing to sell a 2.3-acre parcel of land on Lorain Road in North Olmstead, OH. The asking price is $2.3 million and broker participation is welcomed.

For more information contact Tori Rodano, Colliers International, 23825 Commerce Park Avenue, Suite B, Cleveland, OH 44122; 216-514-5100, Fax 216-514-5106.

Coldwell Banker Commercial/Nicholson-Williams Realty has the listing to sell a 103,000 sq.ft. center in Green Cove Springs, FL. The asking price is $4.5 million.

For more information contact Judy Barnes, Coldwell Banker Commercial/Nicholson-Williams Realty, 386-447-4944, Fax 386-447-4966.

ARC Properties, Inc. is seeking to acquire or joint venture on existing single-tenant properties or land for development. Single tenant properties should be located in major U.S. markets with NNN tenants having at least 15 years remaining on the lease. The company is interested in properties in the $1.5 million to $50 million price range. Developable land is sought in the New York City metropolitan area that is suitable for grocery stores, drug stores or power centers.

For more information contact ARC Properties, Inc., 1401 Broad Street, Clifton, NJ 07013; 973-249-1000, Fax 973-591-8569.

Divaris Real Estate brokered the sale of a .85-acre parcel at the Shoppes at Woodlawn in Charlotte, NC. The company represented the buyer, Charles T. Adkins, in the transaction. The seller was the Hannaford Brothers Company.

For more information contact Gerald S. Divaris, Divaris Real Estate, One Columbus Center, Suite 700, Virginia Beach, VA 23462-6760, 757-497-2113, Fax 757-497-1338.

Inland Real Estate Development Corporation sold a 19.3-acre parcel of land at the intersection of Routes 34 and 47 in Yorkville, IL. The buyer was Tucker Development Corporation which plans to develop a 220,000 sq.ft. center on the site that will be anchored by Jewel-Osco. The transaction price was $3,087,000.

For more information contact Matt Fiascone, Inland Real Estate Development Corporation, 2901 Butterfield Road, Oakbrook, IL 60523; 630-218-8000, Fax 630-954-5673, Web site: www.inlandgroup.com.

Century 21 Exclusive Realtors represents a client looking to acquire centers priced under $2.5 million with at least a 10% CAP rate or cash-on-cash return. The price range may be raised if it makes economic sense.

For more information contact John Yardum, Century 21 Exclusive Realtors, 818-760-0897, Email: sales@realbroker.com.

Atlanta Realty Advisors has the listing to sell four acres in the Mount Zion area of Atlanta, GA. The site is located at the intersection of Mount Zion Parkway and Fielder Road and the asking price is $112,500 per acre. The sale is subject to zoning and commercial developments exist on the other side of the street.

For more information contact Top Kervin, Atlanta Realty Advisors, 510 Plaza Drive, Suite 515, Atlanta, GA 30349; 770-616-6180, Fax 678-479-9622, Email: topbrokers@msn.com, Web site: www.atlantarealtyadvisors.com.

Equitable Management Corporation has the listing to sell a value-added 100,000 sq.ft. center in the Atlanta, GA market. The asking price is $37 psf at a 10% CAP rate. The center has a 75% occupancy factor.

For more information contact Leo Wiener, Equitable Management Corporation, 736 Johnson Ferry Road, Suite C220, Marietta, GA 30068; 770-579-6777, Fax 770-579-6201, Email: leoatl@aol.com.

Arroyo & Coates has the listing to sell a 1.74-acre ground leased property in Austin, TX. The site is located at the intersection of Mopac (Loop 1) and Tudor at the entrance to the Gateway Office Park. A 7,880 sq.ft. Buca di Beppo restaurant has a 10-year lease with four five-year options with rent escalations each year. The asking price is $1.95 million with yields starting at 8%.

For more information contact Eric Wilcox or David J. Gustafson, Arroyo & Coates, 500 Washington Street, Suite 700, San Francisco, CA 94111; 415-445-7800, Fax 415-392-9043, Email: ewilcox@a-c.com, Web site: www.arroyocoates.com.

Madison Commercial Group represents clients seeking to acquire centers in TX. The client requires an 11% actual CAP rate or better. Slightly lower CAP rates will be considered with good upside. Client is specifically interested in properties in the Austin, Waco, Killeen, Temple and Belton areas.

For more information contact Kathryn R. Gordon, Madison Commercial Group, 611 Carpenter Street, Suite 205, Austin, TX 78753; 512-836-8166, Fax 512-836-5601, Email: krgordon@ev1.net.

S.L. Nusbaum Realty Company brokered the sale of the Steele Creek Crossing Shopping Center in Charlotte, NC. The center is anchored by Bi-Lo Grocery Store and Eckerd Drugs. The transaction price was $10.35 million.

For more information contact John T. Litz or Miles B. Leon, S.L. Nusbaum Realty Company, 1000 Bank of America Center, Norfolk, VA 23510; 757-627-8611, Fax 757-640-9494.