Buyers & Sellers
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Buyers & Sellers

Inland Retail Real Estate Trust Inc. acquired a 65% interest in Stonebridge Square Shopping Center in Roswell GA from Hendon Stonebridge LLC. The 160 198 sq.ft. retail center is 90% leased and anchored by an 86 584 sq.ft. Kohl’s and a 35 546 sq.ft. Linens ‘N Things. The center is located on Crossville Road and other tenants include Radio Shack Bath and Body Works Rackroom Shoes and Atlanta Bread Company. The center has two outlots which are occupied by a bank and a school but are not part of the transaction.

For more information contact Joe Cosenza Inland Retail Real Estate Trust Inc. 2901 Butterfield Road Oak Brook IL 60523; 630-218-8000; Web site: www.inlandgroup.com.

Coldwell Banker Mountain West - Commercial Affiliates Inc. has the listing to sell the Roseland Center which is located on .75 acre at 3185 Market Street NE in Salem OR. The center is anchored by Jack’s IGA. The asking price is $750 000.

For more information contact Bill Frey Coldwell Banker Mountain West - Commercial Affiliates Inc. 698 12th Street SE Salem OR 97302; 503-587-4777; Fax 503-588-3514.

Kramont Realty Trust sold Hillcrest Plaza Shopping Center in Frederick MD and Brookway Village Shopping Center in Brookhaven MS for an aggregate of $8.65 million. Hillcrest Plaza Shopping Center is 109 000 sq.ft. however the sale did not include one outparcel. The center is anchored by a 42 500 sq.ft. store that previously housed a supermarket and was converted and leased as office space last year. Brookway Village Shopping Center is 48 000 sq.ft.

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

Regency Centers acquired unimproved land on Highway 77 in Lynnhaven FL for a grocery-anchored shopping center. The center will offer 63 870 sq.ft. of retail space including a 44 270 sq.ft. Publix with an additional two outparcels.

For more information contact Vivian Harter Regency Centers 121 West Forsyth Street Suite 200 Jacksonville FL 32202; 813-681-4444; Email vhart@regencycenters.com; Web site: www.regencycenters.com.

Southeast Realty Group Inc. has the listing to sell a 1.3-acre Rite Aid surplus property in Montgomery AL. The property is at a signalized intersection that has 150 feet frontage on McGehee Road which has a daily traffic count of 15 000 cars and 300 feet frontage on Carter Hill Road which has a daily traffic count of 17 000 cars. The asking price is $800 000 and the property is zoned B4 general commercial.

For more information contact Steve Allen Southeast Realty Group Inc. Flagler Center 505 South Flagler Drive Suite 1010 West Palm Beach FL 33401; 561-832-7880; Fax 561-832-6970.

SCI Properties LLC is seeking shopping centers and retail properties that are shadow national or credit anchored. The company prefers properties located in the Ventura/Conejo Valley Costal area the Santa Clarita/Valencia area and in Palm Springs/Coachella Valley cities in CA. As a principal the company seeks to acquire A- to B investment grade single or multi-tenant retail industrial and net leased properties. Stabilized tenancy or value-added properties built after 1986 are preferred. The company is looking for properties in the range of $2 million to $12 million with CAP rates of 8.5% or more. Joint ventures are possible.

For more information contact Robert Robotti; SCI Properties LLC 11620 Wilshire Boulevard Suite 300 Los Angeles CA 90025; 310-470-2600 Ext 112; Email Rrobotti@SCIProperties.com; Web site: www.sciproperties.com.

Falcon Development is in the market to acquire .5 to 2-acre commercial outparcels to retail centers for retail store development. The developer prefers an outparcel to a major mall or supermarket center with high traffic volume and commercial/business zoning.

For more information contact Matthew Falconer Falcon Development 1701 Cheltenborough Drive Orlando FL 32835-8194; 407-295-8555; Fax 407-295-2899.

Edens & Avant Realty Inc. has the listing to sell or lease a vacant 27 384 sq.ft. Heilig Meyers building with two loading docks located in Myrtle Beach SC. The building is situated on 2.55 acres and has 333 feet of frontage on Highway 501. The asking price is $1.5 million.

For more information contact Mitchell Flannery Edens & Avant Realty Inc. 1293 Professional Drive Suite D Myrtle Beach SC 29577; 843-692-3007; Fax 843-692-3094; Web site: www.edensandavant.com.

Sperry Van Ness brokered the sale of the El Dorado Shopping Center in Long Beach CA to Wardlow Center Partners LLC for $6.8 million. The 75 150 sq.ft. retail center was sold by Milco Investments

For more information contact Reza Etedali Sperry Van Ness 18881 Von Karman Avenue Suite 800 Irvine CA 92612-1571; 949-250-4100; Fax 949-250-4126.

IPG Investment Properties has the listing to sell a 35 000 sq.ft. center in Scottsdale AZ. The asking price is $6.8 million and a $4.7 million loan must be assumed. The project is being offered at a 10.3% CAP rate with 13.5% cash on cash return.

For more information contact Parviz Donboli IPG Investment Properties 3080 North Civic Center Plaza Suite 50 Scottsdale AZ 85251; 602-458-1792; Email Parviz@ipginvestments.com.

Remax Realty Group Fort Myers has the listing to sell a 79 200 sq.ft. center for $32 per sq.ft. in Oxford NC. The center is anchored by a newly renovated Food Lion. The asking price is $2.7 million.

For more information contact Douglas Schwartz Remax Realty Group Fort Meyers 7910 Summerlin Lakes Drive Fort Meyers FL 33907; 941-489-0444; Fax 941-489-1504; Email douglasschwartz@worldnet.att.net.

Divaris Real Estate Inc. sold the 10-acre Nichols Shopping Center at 3100 Fayetteville Road in Lumberton NC. JHM Investments LLC purchased the land for $800 000 and intends to level the existing building and redevelop the property.

For more information contact Gerald S. Divaris 1 Columbus Center Suite 700 Virginia Beach VA 23462-6760; 757-497-2113; Fax 757-497-1338; Email gdivaris1@divaris.com; Web site: www.divaris.com.

NAI Capital Commercial has the listing to sell a Food 4 Less with 14 years remaining on a 20-year true NNN lease with rental increases every five years. The asking price is $4.7 million with existing self-amortizing financing of $2.4 million.

For more information contact Mel Moss NAI Capital Commercial 11999 San Vicente Boulevard Suite 215 Los Angeles CA 90049; 310-440-8500; Fax 310-440-8525.