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Buyers & Sellers
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Buyers & Sellers ARC Properties, Inc. acquired 67 acres for the development of a 420,000 sq.ft. center in Delran, NJ. The company acquires single-tenant properties with 15-year, NNN leases in major U.S. markets from $1.5 million to $50 million. The company also will joint venture. For more information, contact ARC Properties, Inc., 1401 Broad Street, Clifton, NJ 07013; 973-249-1000, Fax 973-249-1001; Web site: www.arcproperties.com. Arroyo & Coates is selling a 65,424 sq.ft. center located at 1125 West Winnemuca Boulevard in Winnemuca, NV for $5.17 million. The center is tenanted by a 63,024 sq.ft. Raley’s, Inc. and a 2,400 sq.ft. Philly Cheese Steak. Both leases are NNN, while all taxes, insurance and maintenance, including but not limited to roof, parking lot and structural portions of the property, are paid by the tenant. Rent for Raley’s is $433,500 per year, while the rent for Philly Cheese Steak is $18,720 per year.For more information, contact Paul Souza, Arroyo & Coates, 500 Washington Street, Suite 700, San Francisco, CA 94111; 415-445-7800 Ext. 184, Fax 415-677-0967; Email: psouza@a-c.com. Island Associates brokered the assemblage of three properties consisting of 1.6 acres at the intersection of 5th Avenue and Brook Avenue in North Bay Shore, NY. The company orchestrated the re-zoning, site plan approval and eventual permits which ensued over two years for a proposed 11,000 sq.ft. CVS drugstore for $1.25 million.For more information, contact Island Associates, 455 Sunrise Highway, West Islip, NY 11795; 631-587-5050, Fax 631-587-0230; Web site: www.islandassociates.com. Realty Income sells properties with 100% financing, operating leases, negotiable financial covenants, flexible lease terms and conditions, no fees or transaction costs and expedited transaction process. Typical lease terms run 15 or more years, while property sizes range from 3,000 sq.ft. to 50,000 sq.ft. The company funds individual property investments ranging from $300,000 to $10 million and portfolios valued at $10 million to $100 million. For more information, contact Realty Income, 220 West Crest Street, Escondido, CA 92025-1707; 760-741-2111, Fax 760-741-8617; Web site: www.realtyincome.com. Palms Associates is looking to acquire and/or joint venture with developers on 15 to 25-acre multi-family sites and behind new and proposed retail centers in GA, NC, SC, TN and VA. The company prefers sites with a population of 100,000. The company offers up front capital investment for land acquisitions, as well as preliminary due diligence and participation in any rezoning process.For more information, contact Ben Simon or Kevin Tucker, Palms Associates, PO Box 2008, Virginia Beach, VA 23450; 757-340-3535, Fax 757-631-9155; Email: gzitkus@palms.net. Perrine & Wheeler, Inc. is looking to acquire 40,000 sq.ft. to 200,000 sq.ft. centers throughout the southeast. The company prefers centers anchored by major supermarket chains, such as Food Lion, Kroger, Ingles, Winn-Dixie, Farm Fresh, Ukrop’s and Publix. The company focuses on deals of $4 million to $15 million.For more information, contact Perrine & Wheeler, Inc., 580 East Main Street, Suite 300, Norfolk, VA 23510; 757-627-9088, Fax 757-627-9081; Web site: www.perrinewheeler.com. Vanguard Realty, Inc. is selling the following properties to Commerce Bank: a land area of 1.8 acres located on Passaic Avenue in West Caldwell, NJ; 2.5 acres located on Route 46 in Mount Olive Township, NJ and 1.5 acres located on Pleasant Valley Way in West Orange, NJ. Commerce will build a prototypical 3,800 sq.ft. freestanding retail bank branch on each of these sites.For more information, contact Neal J. Richards, Vanguard Realty, Inc., 195 Columbia Turnpike, Florham Park, NJ 07932-2254; 973-443-9700 Ext. 15, Fax 973-966-0123; Email: realnj957@aol.com. Macro Database, Inc. is looking to assemble a $30 million portfolio of Walgreens and Eckerd stores in metropolitan areas. The company prefers southern states, with a focus on FL. The company also prefers leases running 20 years and up NNN with a minimum Cap rate of 9%.For more information, contact Izzy Gindi, Marco Database, Inc., 8 Victoria Drive, Londonderry, NH 03053; 519-364-3536, Fax 519-364-6181; Email: rentadmin@macrodatabase.com. Borrus Associates is looking to acquire anchored centers and strip, neighborhood and power centers throughout CT, DE, MD, NJ, NY and PA.For more information, contact Julius Borrus, Borrus Associates, 3333 Highway 9, Old Bridge, NJ 08857; 732-679-4100. B&B Corporate Holdings, Inc. is selling two Handy Food Stores in Okeechobee, FL for $600,000. The stores are located on 1408 Parrot Avenue and 2790 Highway 441 South. The Parrot Avenue location occupies a land area of 22,500 sq.ft., while the Highway 441 location occupies a land area of 25,000 sq.ft.For more information, contact B&B Corporate Holdings, Inc., PO Box 1808, Tampa Bay, FL 33601; 813-621-6411. Marathon Ashland Petroleum is selling an 18,687 sq.ft. site located at the intersection of 1 East Algonquin (State Route 62) and Arlington Heights Road in Arlington Heights, IL. For more information, contact Marathon Ashland Petroleum, 8200 West 185th Street, Suite H, Tinley Park, IL 60477; 708-802-7711. Investment Management Associates is selling a commercial parcel at the intersection of U.S. Route 1 and Krome Avenue at Southwest 352nd Street in Florida City, FL. The parcel is located near Hampton Inn, Ramada Inn, Econo Lodge, Denny’s, Dunkin’ Donuts, Mobil, Exxon, Shell, Long John Silver’s and Wendy’s. The annual traffic count is 3.3 million vehicles.For more information, contact Investment Management Associates, 1575 San Ignacio Avenue, Suite 100, Coral Gables, FL 33146; 305-661-0110, Fax 305-661-7803. Lamar Properties is selling the following properties: Cross Point Shopping Center, a 217,000 sq.ft. center located at the intersection of Alexandersville and Bellbrook Road in Dayton, OH for $21.5 million. The center is anchored by Marshalls, Outback Steakhouse, Sears Hardware and Stitching Post; Elmwood Plaza, a 343,000 sq.ft. center located at Durand Avenue in Racine, WI for $6.875 million. The center is anchored by Racine Produce, Hancock Fabrics, Furniture Clearance Center and Checker Auto; Morse Center, a 243,000 sq.ft. center located on Morse Road in Columbus, OH for $12.24 million. The center is anchored by Big Lots, Guitar Center, D.E. Jones, Dollar General, Dollar Tree, Goodwill and Gillie Recreation Center; Lakewood Plaza, a 95,222 sq.ft. center located at the intersection of Highway 249 and Louetta Road in Houston, TX for $10.49 million. The center is anchored by H.E.B. Pantry, KFC, McDonald’s, Movie Gallery, Radio Shack and Subway; Deerbrook Plaza, a 216,737 sq.ft. center located at the intersection of Highway 59 and FM 1960 in Humble, TX for $19.85 million. The center is anchored by Ross ‘Dress for Less’, Outback Steakhouse, Academy Sports, Dollar Tree, Tuesday Morning, Factory 2-U and Half Price Books. For more information regarding Cross Point Shopping Center, contact Jeff Johnston, Lamar Properties, 513-721-4200; For more information regarding Elmwood Plaza, contact Patrick Gallagher, Lamar Properties, 414-225-9700; For more information regarding Morse Center, contact John May, 630-288-2600; For more information regarding Lakewood Plaza and Deerbrook Plaza, contact George Cushing, 713-599-5165. Coldwell Banker Commercial is selling a retail complex at 11521-11801 South Cleveland Avenue in Fort Myers, FL for $15.5 million. The complex encompasses a GLA of 237,000 sq.ft. on a land area of 18 acres.For more information, contact Debra Johnson-Boe, Coldwell Banker Commercial, 6430 Plantation Park Court, Fort Myers, FL 33912; 239-939-4808; Email: djboe@coldwellbanker.com. David Adam Realty represented W.S. Tice’s Corner Marketplace LLC in the acquisition of Tice’s Corner, a 120,000 sq.ft. lifestyle center located on Chestnut Ridge Road in Woodcliff Lake, NJ from Heller-Woodcliff Lake LLC for $33 million. The center is 100% occupied and is tenanted by GAP, Banana Republic, Chico’s, Talbot’s, Anthropologie, Pier 1 Imports, Williams-Sonoma, Pottery Barn and the Panera Bread Co.For more information, contact David Waldman, David Adam Realty, 61 Wilton Road, Westport, CT 06880; 203-221-8148. Insignia Thalhimer sold a land area of approximately 5.69 acres at the intersection of Mechanicsville Turnpike and Vaughan Drive in Richmond, VA for $700,000 to Meadows Property, LC, which plans to develop the 28,000 sq.ft. Bowles Farm Plaza, including two outparcels. Construction is slated to begin during Spring 2003.For more information, contact Frederic H. Cox III, Insignia Thalhimer, Exchange Place, 1313 East Main Street, Suite 400, Richmond, VA 23219; 804-648-5881, Fax 804-697-3479; Email: ted.cox@thalhimer.com; Web site: www.insignia-thalhimer.com. Boos Development Group is selling the following properties: a 61,420 sq.ft. center anchored by a 44,270 sq.ft. Publix for $9,849,262 with a Cap rate of 8.40%. The center is located at the intersection West Commercial Boulevard and 94th Avenue in Sunrise, FL; a 63,984 sq.ft. center anchored by a 54,384 sq.ft. Publix for $12,295,238 with a Cap rate of 8%. The center is located at the intersection of SWC Military Trail and Melaleuca Lane in Lake Worth, FL; a 27,154 sq.ft. Publix located in the Jog @ Chalet in Boynton Beach, FL; a 6,832 sq.ft. Tires Plus located at 521 West Alexis in Toledo, OH for $1.778 million with a Cap rate of 8.75%; a 6,933 sq.ft. Tires Plus located at the intersection of Old Milton Parkway and GA 400 in Alpharetta, GA for $2.23 million with a Cap rate of 8.75%; a 6,272 sq.ft. Tires Plus located at the intersection of Quebec Street and Smith Street in Denver, CO for $2.074 million with a Cap rate of 8.75%; a 6,832 sq.ft. Tires Plus located at the intersection of Grant and 102nd Street in Thornton, CO for $2.28 million with a Cap rate of 8.75%; a 6,832 sq.ft. Tires Plus located at Mall Parkway (west of Mall Promenade) in Lithonia, GA for $2.058 million with a Cap rate of 8.75%; a 6,272 sq.ft. Tires Plus located at the intersection of Highway 37 and East 166th Street in Noblesville, IN for $1.795 million with a Cap rate of 8.75% and a 3,000 sq.ft. Dunkin’ Donuts located at the intersection of State Route 50 and Maminer in Spring Hill, FL for $1.319 million with a Cap rate of 8.50%.For more information, contact Rob Boos, Boos Development Group, 2651 McCormick Drive, Clearwater, FL 33759; 727-669-2900, Fax 727-669-2915; Email: bdgbts@boosdevelopment.com; Web site: www.boosdevelopment.com. Kushner Cos. acquired The Monmouth Mall, a 1.5 million sq.ft. mall, in a 50% venture with Vornado Realty Trust for $164.7 million. The mall was financed with $135 million in a three-year floating rate debt, a $23.5 preferred investment by Vornado and $14 million in cash, which includes escrows and reserves above the purchase price.For more information, contact Kushner Cos., 26 Columbia Turnpike, Florham Park, NJ 07932; 973-822-0050, Fax 973-822-2507; Email: info@kushnercompanies.com. Saul Centers, Inc. acquired a 109,625 sq.ft. center located within the 350,000 sq.ft. Kentlands Square shopping center in Gaithersburg, MD for $14.3 million. The center is anchored by a 102,250 sq.ft. Lowe’s Home Improvement. For more information, contact Saul Centers, Inc., 7501 Wisconsin Avenue, Suite 1500, Bethesda, MD 20814-6522; 301-986-6220, Fax 301-986-6079; Web site: www.saulcenters.com. CB Richard Ellis is selling 10 acres located at 428 East Haven (Route 30) in New Lenox, IL. The site is located across from a proposed retail center. The company also is selling Rockvale Square Outlet Center, a 559,135 sq.ft. center located at the intersection of Route 30 and Route 896 in Lancaster, PA. Anchor tenants include Spiegel, VF Factory Outlet, Reading China, Carter’s, Pfaltzgraff, Levi’s, Lenox, QVC, Westpoint Pepperel and Nike, while specialty tenants include Nautica, Jones New York, Jockey, Champion/Coach, Franklin Mint, Bose, Sony and Tommy Hilfiger. The center is 94% occupied.For more information regarding the property in New Lenox, IL, contact Thomas Goebel, CB Richard Ellis, 1400 West 16th Street, Suite 350, Oak Brook, IL 60523; 630-573-7094. Also contact, George Capper at 630-573-7077 or Lynne Brackett at 630-573-7035. For more information regarding Rockvale Square Outlet Center, contact Richard A. Frolik, CB Richard Ellis, 6133 North River Road, Suite 740, Rosemont, IL 60018; 847-518-2307. Or contact, Robert J. Mahoney at 847-518-2314; George B. Good at 847-518-2309; Scott J. Schoen at 847-518-2312. Shane Investment Property Group is selling the following two restaurants: an IHOP located in Macon, GA. The lease is for 25 years with 10% increases every five years and three five-year options; a Hooters located in McDonough, GA. The lease is for 20 years with 10% increases every five years and two-five year options. For more information, contact Emery Shane, Shane Investment Property Group, 5 Concourse Parkway, Suite 3100, Atlanta, GA 30328; 770-481-1960, Fax 770-481-1961; Email: eshane@shanegroup.net. Millco Investments is selling an 11,180 sq.ft. Rite Aid drug store located at the intersection of Thomas and Whitney Streets in Memphis, TN for $2,879,693 with a Cap rate of 10.75%. Proposed financing is 6.75% with a five-year fixed rate and an amortization of 25 years. LTV is 75/25. The initial lease term is 20 years NN with six five-year renewal options. The site is located on a land area of approximately 1.64 acres. For more information, contact Robert Miller, Millco Investments, 19 South LaSalle Street, Suite 501, Chicago, IL 60603; 312-377-7800, Fax 312-377-7898; Email: millcoinvestment@aol.com. Cushman & Wakefield of New Jersey, Inc. closed on the sale of Essex Green, a 351,000 sq.ft. center located at the intersection of Interstate 280 and Prospect Avenue in West Orange, NJ for $53 million to Principal Life Insurance Co. The center is anchored by Macy’s and ShopRite and is 99% occupied.For more information, contact Cushman & Wakefield, Inc., One Meadowlands Plaza, Suite 1100, East Rutherford, NJ 07073; 201-796-7788. Cedarwood Development, Inc. is selling a center located at the intersection of Military Trail and Coconut Lane in Palm Beach County, FL with a daily traffic count of 31,059 vehicles. Area demographics include a population of 80,228 within three miles earning $66,414 as the average household income. For more information, contact Cedarwood Development, Inc., 2701 West Oakland Park Boulevard, Suite 300, Fort Lauderdale, FL 33311; 954-677-0751, Fax 954-677-0752. The Boulder Group sold the following five properties: a 14,490 sq.ft. Walgreens in Denver, CO for $4.655 million with a Cap rate of 8.2% and a lease of 25 years NNN; a 14,490 sq.ft. Walgreens in Mustang, OK for $3.59 million with a Cap rate of 8.15% and a lease of 25 years NNN; a 13,500 sq.ft. Walgreens in Milwaukee, WI for $3.01 million with a Cap rate of 8.5% and a lease of 13 years NN; an 80,000 sq.ft. land parcel which is ground leased on a NNN basis to McDonald’s for 20 years in Harvey, IL for $743,000. The Cap rate was 7.35%; and a 2,400 sq.ft. 7-Eleven in South Bend, IN for $480,000 with a Cap rate of 9.1% and a long-term NNN lease. The company also sold the following six properties: a 14,490 sq.ft. Walgreens in Bensalem, PA for $6.182 million with a Cap rate of 8.2% and a lease of 25 years NNN; a 14,490 sq.ft. Walgreens in Oklahoma City, OK for $4.58 million with a Cap rate of 8.29% and a lease of 25 years NNN; a 15,000 sq.ft. Walgreens in Houston, TX for $4.3 million with a Cap rate of 8% and a lease of 25 years NNN; a 3,269 sq.ft. retail property in Miami, FL for $1.242 million with a Cap rate of 8.9% and a long-term NNN lease; a 15,000 sq.ft. Walgreens in Peoria, IL for $1.025 million with a Cap rate of 8.7% and a short-term NN lease; and a 1,732 sq.ft. Caribou Coffee for $780,000 with a Cap rate of 8.3% and a lease of 10 years NNN. For more information, contact The Boulder Group, 1945 Techny Corporate Center, Suite 6, Northbrook, IL 60622; 847-562-0003, Fax 847-589-1217; Email: rb@1031properties.com; Web site: www.1031properties.com. Noddle Development Co. acquired Harvey Oaks Plaza, a 141,778 sq.ft. center located at the intersection of 114th Street and West Center Road in Omaha, NE. The company also acquired Empire Park Shopping Center, a 118,166 sq.ft. center located at the intersection of 118th and Q Streets in Omaha, NE. For more information, contact Jeff Kirshenbaum, Noddle Development Co., PO Box 542010, 13710 FNB Parkway, Suite 100, Omaha, NE 68154-8010; 800-365-1616, Fax 402-496-6250; Web site: www.noddledev.com. NewBridge Retail Advisors is selling Normandy Village, a 76,635 sq.ft. center anchored by Publix, located at the intersection of Interstate 295 and Normandy Boulevard in Jacksonville, FL. Area demographics include a population of 63,000 within three miles earning $46,088 as the average household income. For more information, contact Lynn Leonard, NewBridge Retail Advisors, Inc., 11675 Great Oaks Way, Suite 135, Alpharetta, GA 30022; 678-802-6565, Fax 678-802-6588; Email: lleonard@newbridgeretail.com. Staubach Retail Services represented Wilshire Business Center in the sale of an 84,000 sq.ft. Kmart located at 5701 Broadway Boulevard in Garland, TX to Bargain Town. Bargain Town is relocating to the new site from its existing location at 3342 Broadway Boulevard. For more information, contact Nancy Chandler, The Staubach Co., 15601 Dallas Parkway, Suite 400, Addison, TX 75001; 972-361-5063; Email: nancy.chandler@staubach.com. Kimco Realty Corp. entered into a partnership with Westlake Development Co., Inc. to own and redevelop Westlake Shopping Center, a 562,000 sq.ft. center located in Daly City, CA. Tenants include Safeway, Burlington Coat Factory, Walgreens and Trader Joe’s. Area demographics include a population of 500,000 within five miles. Sales of $700 psf have been reported. For more information, contact Scott Onufrey, Kimco Realty Corp., 3333 New Hyde Park Road, New Hyde Park, NY 11042; 516-869-7190; Email: sonufrey@kimcorealty.com. Or contact, Claire Chang, Westlake Development Co., Inc.; 650-579-1010 Ext. 170; Email: claire@westlakegroup.net. Marcus & Millichap is selling the following four properties: a Long John Silvers located in Tucson, AZ for $830,000 with a Cap rate of 8.5% and a 20-year NNN lease; a Taco Bell located in Summerville, SC for $800,000 with a Cap rate of 8.5% and a 20-year NNN lease; a KFC/Taco Bell located in Bamberg, SC for $860,000 with a Cap rate of 8.3% and a 20-year NNN lease; and a Hollywood Video located in Carbondale, IL with a Cap rate of 10% and a remaining 10-year NNN lease. The company also sold Rancho Cordova Town Center located at 10801 Olson Drive in Rancho Cordova, CA for $19.825 million. The 165,000 sq.ft. center is located on a land area of 13.47 acres and is near Target, Mervyn’s and Albertsons. The center is anchored by Pier 1 Imports, Factory 2-U, Michaels and Susie’s Deal. The center is 95% occupied. For more information regarding the first four properties, contact Joseph P. Blatner, Marcus & Millichap, 1800 SW First Avenue, Suite 110, Portland, OR 97201; 503-220-2333. For more information regarding Rancho Cordova Town Center, contact Larry Gray, Marcus & Millichap, 500 Ygnacio Valley Road, Suite 330, Walnut Creek, CA 94596; 925-979-9810 Ext. 116. Inland Retail Real Estate Trust, Inc. acquired Forestdale Plaza, a 53,239 sq.ft. center located at the intersection of West Main Street and Ragsdale Road in Jamestown, NC for $6.64 million. The center is anchored by a 37,985 sq.ft. Food Lion. Cotenants include Great Clips, Domino’s Pizza and Pro Nail Care. The company also reached an agreement with JDH Capital to acquire five to-be-constructed Eckerd drug stores in Charlotte and Raleigh, NC and the Greenville-Spartanburg-Anderson triangle of SC, in addition to three Eckerd stores to completed earlier this year. The stores will range from 10,908 sq.ft. to 13,824 sq.ft. For more information, contact Rick Fox, Inland Retail Real Estate Trust, Inc., 2901 Butterfield Road, Oak Brook, IL 60523; 630-218-8000 Ext. 4896; Email: rfox@inlandgroup.com; Web site: www.inlandgroup.com. Devcon Enterprises, Inc. is looking to acquire supermarket-anchored centers with 85% to 90% occupancy in all major growth markets nationwide. The preferred price range is $10 million and the Cap rate preference is 9% to 9.75%. The company prefers centers with a GLA from 75,000 sq.ft. to 300,000 sq.ft. For more information, contact Devcon Enterprises, Inc., Corporate Center West, 433 South Main Street, Suite 300, West Hartford, CT 06110; 860-521-6999, Fax 860-521-6789. Westwood Financial Corp. is looking to acquire supermarket-anchored centers throughout AZ, CA, CO, OR, NV and WA.For more information, contact Westwood Financial Corp., 11440 San Vincente Boulevard, Suite 200, Los Angeles, CA 90049; 310-820-5443; Web site: www.westfin.com. Divaris Real Estate, Inc. sold a land area of 0.72 acres and a former Pizza Hut building located at 8609 Tidewater Drive in Norfolk, VA to G.H.K. Development for $381,000. The development company plans to raze the building and develop a Walgreens at the location. For more information, contact Gerald S. Divaris, Divaris Real Estate, Inc., One Columbus Center, Suite 700, Virginia Beach, VA 23462; 757-497-2113, Fax 757-497-1338; Email: info@divaris.com; Web site: www.divaris.com. GFI Realty Services is looking to acquire centers along the East Coast for $1.5 million with a Cap rate of 9%. For more information, contact Arnold Mager, GFI Realty Services, 50 Broadway, New York, NY 10004; 212-837-4529, Fax 212-668-1655. Regency Centers acquired the following four supermarket-anchored centers in The Woodlands, TX: Alden Bridge Village Center, a 138,952 sq.ft. center anchored by Kroger supermarket and Walgreens located at 8000 Research Forest Drive; Cochran’s Crossing Village Center, a 138,192 sq.ft. center anchored by Kroger and Eckerd located at 4747 Research Forest Drive; Panther Creek Village Center, a 164,080 sq.ft. center anchored by Randall’s supermarket and Eckerd located at 4775 West Panther Creek; and Sterling Ridge Village Center, a 128,639 sq.ft. center anchored by Kroger located at 6700 Woodlands Parkway.For more information, contact James Buis, Regency Centers, 121 West Fourth Street, Suite 200, Jacksonville, FL 32202; 214-706-2500; Email: jbuis@regencycenters.com; Web site: www.regencycenters.com. The Adams Cos. is selling 7.09 acres of commercial/retail land located at the intersection of Route 50 and Route 340 in Waterloo, VA for $705,000. For more information, contact Betty Learned Friant or Conrad Koneczny, The Adams Cos., The Fern Adams Building, 303 South Loudoun Street, Winchester, VA 22601; 540-667-2424, Fax 540-667-2441; Web site: www.adamscompanies.com. Syndicated Equities Corp. sold the following nine properties: a 15,129 sq.ft. Walgreens in Escondido, CA for $3.755 million with a Cap rate of 7.95% and a long-term lease; a 13,500 sq.ft. Walgreens in Bolingbrook, IL for $1,865,867 with a Cap rate of 8.52% and a long-term lease; a 13,125 sq.ft. Walgreens in Toledo, OH for $5,432,436 with a Cap rate of 8.25% and a long-term lease; a 14,490 sq.ft. Walgreens in Wichita Falls, TX for $3.53 million with a Cap rate of 8.50% and a long-term lease; a 5,040 sq.ft. Hollywood Video in San Angelo, TX for $930,000 with a Cap rate of 9.85% and a long-term lease; a 15,120 sq.ft. Walgreens in Warren, MI for $4.76 million with a Cap rate of 8.51% and a long-term lease; a 15,120 sq.ft. Walgreens in Weymouth, MA for $5.26 million with a Cap rate of 8.32% and a long-term lease; a 10,125 sq.ft. CVS in Royersford, PA for $3,621,334 with a long-term lease; and a 15,120 sq.ft. Walgreens in McHenry, IL for $4,461,112 with a Cap rate of 8.18% and a long-term lease. For more information, contact Syndicated Equities Corp., 1345 North Wells Street, Chicago, IL 60610; 312-640-9020; Email: carol@syndicatedequities.com. Alpha Limited is looking to acquire centers throughout San Antonio, TX for $1 million to $3 million with a Cap rate ranging from 10% to 12%.For more information, contact Gary Barnes, Alpha Limited, 15591 Capital Port, San Antonio, TX 78249; 210-764-2600, Fax 210-764-2639. Wireless Zone is looking to acquire sites in DE, MA, MD, ME, MO, NH, NY, PA, RI, VA, VT and Washington, DC. For more information, contact Ron Bender, Wireless Zone, 2101 Belair Road, Suite 102; Fallston, MD 21047; 443-243-0549, Fax 410-877-7955; Email: ronb@wirelesszone.com. Lakeshore Realty is selling a land area of 11.6 acres located at the intersection of Highway 41 and Interstate 16 in Post Falls, ID for $2.045 million. The site is near Wal*Mart. For more information, contact Anne Anderson, Lakeshore Realty, 1100 East Lakeshore Drive, Suite 101, Coeur d’Alene, ID 83814; 800-561-6595, Fax 208-664-9764. First Commercial Realty Corp. is looking to acquire strip centers in the metro Atlanta, GA area, with a preference in Gwinnett, Fulton, Cobb, Forsyth, Hall and North Dekalb, for $500,000 to $4 million with a Cap rate of 8.50% or better. For more information, contact Jeff L. Little, First Commercial Realty Corp., 1550 Beaver Ruin Road, 1550 Beaver Ruin Road, Norcross, GA 30093; 770-279-8600, Fax 678-910-5164; Email: jlittle770@aol.com. |