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Buyers & Sellers
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Buyers & Sellers Kimco Realty Corporation acquired five shopping center properties for a total of $92.2 million. The company purchased four centers from Urban Shopping Centers for approximately $65.1 million. The properties consisting of 548 470 sq.ft. are located in FL IL and TN. The centers has an occupancy rate of 98.3% and are anchored by the likes of Bed Bath and Beyond Ross Stores and Staples. For more information contact Kimco Realty Corporation 17872 Cowan Avenue Irvine CA 92614-6010; 949-752-6996. General Growth Properties acquired the Tucson Mall in Tucson AZ. The shopping center is approximately 1.3 million sq.ft. has about 409 000 sq.ft. of shopping space is currently 92% occupied produces sales of approximately $411 per sq.ft. and is anchored by Macy’s Robinson-May Dillard’s Marvyn’s JCPenney and Sears. The aggregate consideration paid was approximately $180 million.For more information contact John Bucksbaum General Growth Properties 110 N Wacker Drive Chicago IL 60606; 1-312-960-5005. The Hogan Group has the listing to sell .5 to three acres of retail outparcels adjacent to the Colony Crossing Shopping Center l in Tampa FL. The outparcels are located northwest of the intersection of West Hillsborough Avenue and Elliott Drive which is zoned as a C-G commercial district. The demographic includes a population of 107 031 in a five mile radius earning an average annual household income of $57 125 and a traffic count of 50 000+ cars per day.For more information contact Dan Morris Retail Development/Site Selection The Hogan Group101 E Kennedy Boulevard Suite 4000 Tampa FL 33602; 813-274-8000; Fax 813-222-0505; Email dmorris@thehogangroup.com. Colliers Towle Real Estate has the listing to sell the 120 000 sq.ft. Oak Park Ponds Shopping Center in Oak Park Heights/Stillwater MN. The center situated on 19 acres of land is anchored by a 65 000 sq.ft. Rainbow Foods Grocery store. The site located at the intersection of Highway 36 and Highway 5 (Stillwater Boulevard) consists of Rainbow Foods Grocery & Gas (64 367 sq.ft.) Hollywood Video (7 488 sq.ft.) Boomtown Gym (7 295 sq.ft.) Cellar’s Wine & Spirits (6 160 sq.ft.) 1st Bank Bayport (5 390 sq.ft) Dollar Tree (4 068 sq.ft.) Mail Boxes Etc. (2 238sq.ft) Safeway Driving (2 082 sq.ft) Dominos Pizza (1 871 sq.ft.) CT Nails & Tan (1 645 sq.ft.) Wells Fargo (1 477 sq.ft) Midwest Vision (1 400 sq.ft.) and Sally Beauty (1 330 sq.ft.).For more information contact Carol A. Ulstad Colliers Towle Real Estate Towle Building Suite 800 330 Second Avenue South Minneapolis MN 55401; 612-341-4444; Fax 612-347-9389; Web site: www.collierstowle.com. Real Property Specialist Inc. has the listing to sell a 12 506 sq.ft. shopping center in Orlando FL. The site is located on Hiawassee Road adjacent to Metrowest Village shopping center anchored by a Publix in Southwest Orange County FL. A median and curb cut allows for easy access. The demographics include a population of 183 544 in a five-mile radius earning an average household income of $52 499 and a traffic count of 32 170 vehicles per day. The company also has the listing to sell a 30 025 sq.ft. retail plaza on a 2.51 acre site in Orlando FL. The asking price is $693 047. The location is situated on International Drive in Orlando’s tourist district just west of Belz Factory Outlet World and Fiesta Bay. The shopping region is reportedly visited by more than 15 million tourists annually. For more information on either property contact Alan Charron or Bill Smith 2124 Whisper Lakes Boulevard Orlando FL 32837; 407-438-4575; Fax 407-438-4578; Web site: www.realpropertyspecialists.com. Developers Diversified Realty brokered the sale of a 45 000 sq.ft. Syms Clothing site in Lawrenceville NJ for an aggregate sale proceed of $3.8 milllion. For information contact Developers Diversified Realty 3300 Enterprise Parkway Beachwood OH 44122; 216-755-5500 Fax 216-755-1500. New Plan Excel Realty Trust Inc. sold the 123 380 sq.ft. Marcy Shopping Center in Marcy NY; a 55 552 sq.ft. Somerville NJ Kmart building; a 28 865 sq.ft. Eagle Food Center site in Coralville IA; the 42 500 sq.ft. Annie Land Plaza in Lovingston VA; the New Market Shopping Center a 40 100 sq.ft. center in Varina VA and a 44 617 sq.ft. Safeway location in Sherwood AR.For information contact New Plan Excel Realty Trust Inc. 1120 Avenue of the Americas New York NY 10036; 212-869-3000 Fax 212-869-3989. Malan Realty Investors Inc. sold two Kmart shopping centers to the Kmart Corp. A center on East Washington Street in Madison WI went for $1.6 million and a center in New Lenox IL went for $5 million. For information contact Malan Realty Investors Inc. 30200 Telegraph Road Suite 105 Bingham Farms MI 48025; 248-644-7110 Fax 248-644-7880. Edens & Avant Commercial Real Estate acquired Tree Trail Village in Lilburn GA. The 100 000 sq.ft. shopping center is situated on a 14-acre site location in Gwinnett County’s rapidly growing retail district at Indian Trail Lilburn Road Singleton Road and Steve Reynold Boulevard off Interstate-85 at exit 38. The complex is anchored by Publix and features other national tenants including Piccadilly Cafeteria Blockbuster Video Great Clips Goodyear and Pak Mail. The company also has the listing to sell a .92-acre outparcel at Highway 17 and Highway 130 in Shallotte NC. This outparcel is a portion of a proposed shopping center. A visitor center is also present at this interchange. The property is zoned HC and is adjacent to West Brunswick High School. For more information on the Lilburn GA acquisition contact Susan Sale-Korper VP Corporate Marketing of Edens and Avant; 800-662-7212 Ext. 615; Email: suzis@edensandavant.com. For more information on the Shallotte NC property contact Mitchell Flannery Broker Edens & Avant Realty Inc. 1293 Pofessional Drive Suite D Myrtle Beach SC 29577; 843-692-3007; Fax 843-692-3094; Web site: www.Edensandavant.com.
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