Buyers & Sellers
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Buyers & Sellers

Trans State International, Inc. is selling a 120,000 sq.ft. shopping center in the Rochester, NY area for $7.7 million. The center is anchored by Blockbuster Video, AutoZone, Dollar General and Monro Muffler. There is 15,000 sq.ft. of vacant space available. The site is across from Wegmans.

For details, contact Trans State International, Inc., 4333 Mayhew Avenue, Suite 100, Cincinnati, OH 45238; 513-251-9600, Fax 513-251-9602; Email: transstateintl@aol.com.

Walters Realty acquired Landmark Village Shopping Center from Bandy Development. The 73,000 sq.ft. center is located at 2301 North Collins Street in Dallas, TX. The center is cotenanted by Moose & Vinny’s, Arlington YMCA, Neighborhood Doctor and H&R Block.

For details, contact Wes Walters, Walters Realty, Inc., 8860 Business Park, Suite 100, Austin, TX 78759; 800-999-8054, Fax 512-345-2612.

Fameco Real Estate brokered the sale of Loyal Plaza, located in Williamsport, PA, to Cedar Income Fund Partnership for $18.3 million.

For details, contact Sue D’Angelo, Fameco Real Estate, 625 Ridge Pike, Suite E-201, Conshohocken, PA 19428; 610-834-8000; Fax 610-834-1793.

Heritage Property Investment Trust, Inc. acquired the Pioneer Properties for $77.8 million. The properties comprise the following four shopping centers: Berkshire Crossing is a 434,000 sq.ft. supermarket-anchored shopping center in Pittsfield, MA. The center is 99% leased and is anchored by Wal*Mart, Price Chopper, Barnes & Noble and Home Depot; Grand Traverse Crossing occupies 387,000 sq.ft. in Grand Traverse, MI. The center is 95% leased and is anchored by Wal*Mart, Home Depot, Staples and Borders; Bedford Grove is a 217,000 sq.ft. supermarket-anchored center in Bedford, NH. The center is 100% leased and is anchored by Shop N Save and Wal*Mart and Salmon Run is an 182,000 sq.ft. supermarket-anchored center in Watertown, NY. The center is 100% leased and is anchored by Hannaford Brothers and Pier 1 Imports. The company also acquired Marketplace Shopping Center for $19.9 million, a 244,000 sq.ft. supermarket-anchored center in Independence, MO. The center is 96% leased and is anchored by Price Chopper and Old Navy. The company acquired Montgomery Town Center, located in Montgomery, AL in two installments. The first acquisition was for 146,000 sq.ft. and the second was for 32,000 sq.ft. The center is anchored by Winn-Dixie, Barnes & Noble, Bed Bath & Beyond, Old Navy and Circuit City.

For details, contact Chris Joy, Heritage Property Trust, 399 Boylston Street, Boston, MA 02116; 617-292-7456, Fax 617-292-7400.

Realty American Group is selling a 110,000 sq.ft. former Builders Square/HQ Store in San Antonio, TX. The site is located near a 212,000 sq.ft. power center, which is cotenanted by Best Buy, Barnes & Noble, Marshalls, Michaels and JCPenney. The asking price is $5 million.

For details, contact Jeff Berry or Kip Sowden, Realty America Group, 5440 Harvest Hill Road, Suite 237, Dallas, TX 75230; 972-380-9400, Fax 972-380-9644; Email: jberry@realtyamericagroup.com Web site: www.realtyamericagroup.com.

CB Richard Ellis is selling shopping centers in Cranberry and Greenville, PA. Both centers are located next to a Super Wal*Mart and are 100% leased and cotenanted by Fashion Bug, Radio Shack, Hollywood Video and Dollar Tree. Leases running five years are typical. The asking price for each center is $2.75 million.

For details, contact Jeffrey Ackerman, CB Richard Ellis, 600 Grant Street, Suite 1400, Pittsburgh, PA 15219; 412-394-9800; Email: jackerman@cbre.com.

Insignia/ESG sold Pleasantville Shopping Center, a 194,000 sq.ft. community center in Pleasantville, NJ to United States Realty & Investment Co. The company also sold Festival at Hamilton, a 182,000 sq.ft. shopping center in May’s Landing, NJ and The Mall at 1, a 78,000 sq.ft. shopping center in Philadelphia, PA. The three centers sold at an aggregate sales of price of $22 million. Pleasantville Shopping Center is anchored by Kmart; Festival at Hamilton is cotenanted by Acme, Jo-Ann Fabrics and Pier 1 and The Mall at One is cotenanted by Kids "R" Us, Annie Sez, Pearle Vision and AAA Service Center.

For details, contact Andrew Rudzinski, Insignia/ESG, 1800 JFK Boulevard, 10th Floor, Philadelphia, PA 19103 215-561-8792; Email: andrew.rudzinski@iesg.com.

Urstadt Biddle Properties, Inc. acquired the Ridgeway Shopping Center in Stamford, CT for $89.3 million from Larry Silverstein and Howard Menaker. The 330,000 sq.ft. center has 40 tenants, including Bed Bath & Beyond, Staples, Marshalls, Old Navy and Michaels Crafts. The center is anchored by a 60,000 sq.ft. Stop & Shop supermarket.

For details, contact James R. Moore, Urstadt Biddle Properties, Inc., 321 Railroad Avenue, Greenwich,CT 06830; 203-863-8200.

Goodstein Realty is selling a 141,779 sq.ft. shopping center in Charlotte, NC. The center is 94% leased and anchored by Kmart and Winn-Dixie. The Cap rate is 10.5%.

For details, contact Nilla Faringer, Goodstein Realty, 212 East 47th Street, Third Floor, New York, NY 10031; 212-926-5594, Fax 212-926-1623.

Staubach Retail Services negotiated the sale of a 24,000 sq.ft. sq.ft. building at 2809 Santa Rosa Avenue in Santa Rosa, CA to Mancini’s Sleepworld. The store, specializing in mattresses, futons and children’s furniture, is expected to open in September.

For details, contact Nancy Chandler, Staubach Retail Services, 15601 Dallas Parkway, Suite 400, Addison, TX 75001; 972-361-5063, Fax 972-361-5909.; Email: nancy.chandler@staubach.com.

TCI Group is looking to sell, lease or build to suit a 4.2 acre parcel in Johnson, TN. The site is a high traffic corner that would appeal to supermarkets, restaurants, pharmacies, strip centers and banks. The site has a daily traffic count of 20,000 vehicles and an asking price of $1.3 million.

For more details, contact Tina Holt, TCI Group, Michael Green Agency, LLC, 131 Pickens Bridge Road, Johnson City, TN 37165; 423-282-1176, Fax 423-282-1137.

Bronnum & Associates is selling the following sites: a 1.04 acre site in Lawrenceville, GA located next to Blockbuster Video and a dry cleaners. Demographics include a population of 38,500 within three miles earning $65,789 as the average household income. The company is also selling a six-acre site in Lawrenceville, GA with a daily traffic count of 31,778 vehicles. The asking price is $230,000 per acre. The company also is selling a 0.60 acre site on Swanson Drive in Lawrenceville, GA for $149,000.

For details, contact Peter Brounum, Bronnum & Associates, 2090 Beaver Ruin Road, Suite 200, Norcross, GA 30071; 770-368-0546; Email: pcbronnum@mindspring.com.

Sperry Van Ness Mullin is selling Gateway Plaza, located at the intersection of US Highway 89 and Lake Powell Boulevard in Page, AZ for $5.5 million. The 81,785 sq.ft. center is anchored by Bashas’. The center is cotenanted by Radio Shack, Subway, Allied Cash, Arizona Department of Economic Security, Wal*Mart, Burger King and Checker Auto Parts.

For details, contact Shari A. Tucker, Ari Spiro or Mike Day, Sperry Van Ness Mullin, 4800 North Scottsdale Road, Scottsdale, AZ 85251; 480-425-5500, Fax 480-425-5525.

Paramount Realty Services is looking to acquire shopping centers in NJ, NY and PA. The company recently acquired the Marlton Specialty Center in Evesham Township, NJ and developed a 125,000 sq.ft. supermarket-anchored center in Ocean County, NJ. Typical asking prices on the company’s acquisitions run from $10 million to $100 million.

For details, contact Maurice Zekaria, Paramount Realty Services, 1195 Highway 70, Suite 2000, Lakewood, NJ 08701; 732-886-1500.