Buyers & Sellers
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Buyers & Sellers

Mil-Len, Inc. is selling a 5,000 sq.ft. Super Laundry facility located at 383 Wethersfield Avenue in Hartford, CT for $925,000. The site is situated on a land area of 20,000 sq.ft. Opening is slated during February 2003. The lease is for 10 years with three five-year options and a Cap rate of 10.14%.

For more information, contact Bob Laurita, Mil-Len, Inc., 56 Jackson Street, Holyoke, MA 01040; 413-246-8130; Email: rlaurita@millerbuilders.com.

Crown American Realty Trust plans to acquire Wiregrass Commons Mall in Dothan, AL. The company recently acquired Valley View Mall in La Crosse, WI for $50 million.

For more information, contact Crown American Realty, Pasquerilla Plaza, Johnstown, PA 15901; 814-536-4441, Fax 814-535-9343.

Coldwell Banker Commercial World Group brokered the sale of the 3,334 sq.ft. Brook Valley Amoco station located at 6912 South 110th Street in La Vista, NE to Anderson Amoco for $1.02 million. The site is situated on a land area of 3.91 acres.

For more information, contact Jeff Beals, Coldwell Banker Commercial World Group, 362 North 114th Street, Omaha, NE 68154; 402-697-8899, Fax 402-697-8585; Web site: www.worldgroupllc.com.

Grubb & Ellis/Sawyer Commercial is selling a 31,628 sq.ft. T.J. Maxx and a 22,164 sq.ft. Fresh Market Grocery in Mobile, AL for $5.991 million with a Cap rate of 8%. The new 10-year NNN lease begins during April 2003. Area demographics include a population of 172,861 within five miles earning $65,000 as the average household income. The company also is selling the 46,587 sq.ft. supermarket-anchored Perdido Point Shopping Center located in Pensacola, FL for $3.56 million with a Cap rate of 10%. The center is tenanted by Food World, Eckerd and Subway and is situated on a land area of 6.82 acres.

For more information, contact J. Douglas Molyneaux, Grubb & Ellis/Sawyer Commercial, 2501 13th Street, Gulfport, MS 39501; 228-314-5008, Fax 228-863-0632; Email: doug@sawyercommercial.com; Web site: www.sawyercommercial.com.

Kin Properties is selling two packages of four Rite Aid stores in MD and VA with zero cash flow, as well as a Kmart in OK.

For more information, contact Lee Cherney, Kin Properties, 185 Northwest Spanish River Boulevard, Suite 100, Boca Raton, FL 33446; 561-620-9200 Ext. 111, Fax 561-955-9921; Email: lee.cherney@kinproperties.com; Web site: www.kinproperties.com.

DutteRealty.com assisted Better Builder Custom Homes, Inc. in the sale of an 11,154 sq.ft. strip center located at 1780 Main Street in Dundein, FL to Athanasios and Maria Kostakis for $520,000. The company also assisted MPH and Associates of Central Florida, Inc. in the sale of property located at 742 2nd Avenue South in St. Petersburg, FL to Priority One Financial Services, Inc. for $1.05 million.

For more information, contact DutteRealty.com, 2629 McCormick Drive, Clearwater, FL 33759; 727-723-1612, Fax 727-723-7873; Email: dutterealty@dutterealty.com; Web site: www.dutterealty.com.

Corrido RF&S Real Estate, LLC is representing a 1031 Exchange client with $10 million in equity money and will leverage his equity up to a maximum of $20 million. The client is interested in retail property, as well as office, industrial and multi-family spaces throughout MD, northern VA and Washington, DC.

For more information, contact C. James Silfee III, Corridor RF&S Real Estate, LLC, Two Hopkins Plaza, Suite 2100, Baltimore, MD 21201-2911; 410-625-1500 Ext. 6104, Fax 410-625-1562; Email: jsilfee@corridorfs.com.

Crown American Realty Trust sold Carlisle Mall Plaza, an enclosed 342,000 sq.ft. mall located in Carlisle, PA for $5.8 million.

For more information, contact Terry Stevens, Crown American Realty Trust, Pasquerilla Plaza, Johnstown, PA 15901; 814-536-9538; Email: tstevens@crownamerican.com; Web site: www.crownamerican.com.

CB Richard Ellis is selling a 226,039 sq.ft. Food 4 Less-anchored center located at 3300-3360 East Flamingo Road in Las Vegas, NV for $33.5 million with a Cap rate of 8.5%.

For more information, contact Christina Roush, CB Richard Ellis, 3993 Howard Hughes Parkway, Suite 700, Las Vegas, NV 89109-0961; 702-369-4830; Email: croush@cbre.com.

Colliers L&A sold the 68,000 sq.ft. Providence Shopping Center located at 923-925 Providence Road in Secane, PA to 4346 Frankford Avenue, Inc. for $3.2 million. The center is situated on a land area of 10 acres and is anchored by U.S. Postal Service and Ace Hardware. The center has spaces available from 1,500 sq.ft. to 45,000 sq.ft.

For more information, contact Janet M. Carassai, Colliers L&A, 399 Market Street, Philadelphia, PA 19106; 215-925-4600.

Horn Capital Realty, Inc. is looking to acquire the following net-leased properties nationwide with as little as two years remaining on the lease term: Pizza Hut, KFC and Taco Bell locations with sales volumes of $750,000 or more with rent of $40,000 or less; McDonald’s, Burger King, Wendy’s and Arby locations with sales volumes of a minimum $1 million; Red Lobster, Chili’s, Denny’s, Olive Garden and T.G.I. Friday’s locations with sales volume of $2 million plus; convenience stores, gas stations and auto retailers with sales of $800,000 or more, gas volume of 100,000 a month and rent equal to 5% of sales or less; and supermarkets with rents in the $5 psf range with sales volume of $450,000 plus.

For more information, contact Jonathan Horn, Horn Capital Realty, Inc., 1108 Kane Concourse, Suite 201, Bay Harbor Islands, FL 33154; 305-864-2000, Fax 305-864-4240; Email: jsh@horncapital.com.

NewBridge Retail Advisors assisted Inland Southeast Cox Creek, L.L.P in the acquisition of the Cox Creek Centre, a 174,207 sq.ft. center located on Cox Creek Parkway in Florence, AL from GBT Realty Corp.

For more information, contact Gary Saykaly or Lynn Leonard, NewBridge Retail Advisors, Royal Centre One, 11675 Great Oaks Way, Suite 135, Alpharetta, GA 30022; 678-802-6500, Fax 678-802-6588.

Atlanta Retail Advisors is selling the following properties throughout Atlanta, GA: a child day care center for $675,000; a sports bar and restaurant for $1.55 million; a full-service tunnel car wash for $1.05 million; an auto body and paint shop for $2 million and hotels and motels for various prices. The company also sells NNN leased retail properties with Cap rates exceeding 10% and strip shopping centers from $500,000 to $10 million.

For more information, contact Top Kervin, Atlanta Realty Advisors, PO Box 11575, Atlanta, GA 30355; 770-452-1838, Fax 770-452-0953.

Edens & Avant acquired the 313,625 sq.ft. Cascades Marketplace located at the intersection of Cascades Parkway and Route 7 in Stirling, VA from GFS Realty, Inc. The center is anchored by a 60,811 sq.ft. Giant Food and is tenanted by a 30,000 sq.ft. Marshalls, a 24,687 sq.ft. Staples, a 43,237 sq.ft. Sports Authority, a 30,000 sq.ft. Linens ‘n Things and 34 other tenants.

For more information, contact Edens & Avant, 900 Bank of America Plaza, 1901 Main Street, Columbia, SC 29201; 803-779-4420, Fax 803-765-0684; Web site: www.edensandavant.com.