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Buyers & Sellers
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Buyers & Sellers CB Richard Ellis is marketing a Pizza Hut at 370 Upper Cornelia Street in Plattsburgh, NY. The asking price for the triple net leased restaurant is $627,000. Area demographics include a population of 32,735 residing in a five-mile radius earning a median household income of $39,796. The current lease expires in February 2007. The company also has the listing for a 13,113 sq.ft. building located at 495 Central Avenue in White Plains, NY. The asking price for the property is $860,000. Area demographics include a population of 201,746 residing in a five-mile radius earning an average household income of $140,315. In addition, CB Richard Ellis/Whittier Partners is marketing a 1.15-acre restaurant pad located at the intersection of Hingham Street and Commerce Road in Rockland, MA. For more information about Pizza Hut, contact Ann MacAffer, CB Richard Ellis, 255 Washington Avenue Extension, Albany, NY 12205; 518-452-2700; Email: amacaffer@cbre.com; Web site: www.cbre-albany.com. For more information about the White Plains property, contact Clifford F. Molloy, CB Richard Ellis, 560 Lexington Avenue, 20th Floor, New York, NY 10022; 212-207-6108; Web site: www.cbre.com. For more information about the Rockland property, contact Michael R. O’Mara, CB Richard Ellis/Whittier Partners, Federal Reserve Plaza, 600 Atlantic Avenue, Boston, MA 02210; 617-912-7086, Fax 617-912-7001; Email: momara@cbre-ne.com. LMS Commercial Real Estate has the listing for 1.09 acres to sell or lease. The site is located on Route 30 and Whiteford Road in York, PA. The total space available is 9,600 sq.ft. and subdivided space available is from 1,300 sq.ft. to 6,000 sq.ft. Area demographics include a population of 43,203 residing in a three-mile radius earning an average household income of $53,780. For more information, contact LMS Commercial Real Estate, 120 North Pointe Boulevard, Suite 301, Lancaster, PA 17601; 717-569-9373, Fax 717-560-9909; Web site: www.lms-pma.com. DLC Management Corp. acquired High Ridge Centre, a 265,000 sq.ft. community shopping center located in Racine, WI for $16.1 million. The center is anchored by Home Depot, Big Kmart and OfficeMax while Toys "R" Us shadow anchors the center. DLC Management Corp. acquired the center as a long-term hold. For more information, contact Michael Cohen, DLC Management Corp., 580 White Plains Road, 3rd Floor, Tarrytown, NY 10591; 914-631-3131, Fax 914-631-6533; Email: mcohen@dlcmgmt.com; Web site: www.dlcmgmt.com. ECCO Real Estate Investments, Inc. is seeking Dollar Store, Dollar Tree or other single-tenant properties rated BBB or better with a lease term equal to or greater than 15 years. The buyer is looking for properties in $10 million price range. For more information, contact Gerd Behnke, ECCO Real Estate Investments, Inc., 1432 SW Knollwood Drive, Palm City, FL 34990; 561-221-7878, Fax 561-221-2141; Email: ecco@eccorealestate.com; Web site: www.eccorealestate.com. Regency Centers sold Tanasbourne Center in Hillsboro, OR to Biggi Investments for $11 million. Located at the intersection of Tanasbourne Drive and Northwest 185th Avenue, the 46,834 sq.ft. shopping center is anchored by Bed Bath & Beyond, Party City and Men’s Wearhouse. For more information, contact Craig Ramey, Regency Centers, 4000 Krause Way Place, Building 1, Suite 130, Lake Oswego, OR 97035; 503-534-5200, Fax 503-675-7600; Email: cramey@regencycenters.com; Web site: www.regencycenters.com. The Goldstein Group is representing a client interested in acquiring credit lease retail properties in major metropolitan areas from $1 million to $50 million. All locations will be considered, however, the buyer has a strong preference for markets east of the Mississippi, including the New York, NY metro area; Miami, FL; Atlanta, GA; Boston, MA; Chicago, IL; Washington, DC; Philadelphia, PA and Charlotte, NC. A lease term of 15 years or more is preferred, although shorter terms will be considered for well-located properties priced below market. The buyer prefers to acquire through an outright purchase, partial interests, minority interests, joint ventures, build to suits and forward commitments. The buyer also will acquire credit lease vacant properties with a rent income. For more information, contact Wayne King, The Goldstein Group, 2100 Route 208, Fair Lawn, NJ 07410; 201-703-9700 Ext. 24, Fax 201-703-9678; Email: rwking@thegoldsteingroup.com; Web site: www.thegoldsteingroup.com. Atlantic Retail Properties is marketing a 70,000 sq.ft. former Hechinger home improvement store located at 3179 Erie Boulevard East in Dewitt, NY. The total project size is 183,799 sq.ft., 20,000 sq.ft. of which is a garden center. The property has more than 400 feet frontage on Route 5 and an average daily traffic count of 26,700 vehicles. Area demographics include a population of 69,620 residing in a three-mile radius earning an average household income of $51,024. For more information, contact Daniel Lynch, Atlantic Retail Properties, 11 Ray Avenue, Burlington, MA 01803; 781-472-3633; Email: dlynch@atlanticretail.com. Pliskin Realty & Development, Inc. is acquiring shopping centers and strip centers nationwide. For more information, contact Jeffery Pliskin or Marvin Hartman, Pliskin Realty & Development, Inc., 179 Westbury Avenue, Carle Place, NY 11514; 516-997-0100, Fax 516-997-7225. FDC Realty is marketing a 15,000 sq.ft. building located at a signalized intersection on more than three acres in Syosset, NY. Area demographics include a population of 76,988 residing in a three-mile radius earning an average household income of $123,423. For more information, contact Fred Komson, FDC Realty, 1328 Motor Parkway, Hauppauge, NY 11749; 631-234-3200, Fax 631-234-3695; Email: fk@fdcrealty.com. Newmark & Company Real Estate, Inc. is marketing a 12,000 sq.ft. building located on a one-acre parcel at 29 Route 23 in Wayne, NJ. The location is adjacent to Willowbrook Mall and Loews Multiplex Theatre. The asking price is $3 million. The company also is marketing the Dogwood Station Shopping Center in Baltimore, MD. The 100% occupied neighborhood shopping center has a GLA of 84,913 sq.ft., including a Wendy’s pad, and is located on 11.254 acres. The asking price is $9.25 million. Major tenants include Mars Supermarket, CVS, Family Dollar and Pizza Hut. Area demographics include a population of 86,626 residing in a three-mile radius earning an average household income of $52,756. The average daily traffic count at the site is more than 42,000 vehicles. For more information about the Wayne property, contact Barry Greenberg, Newmark & Company Real Estate, Inc., Ten Woodbridge Center Drive, Woodbridge, NJ 07095-1408l; 732-751-4000, Cell: 917-553-9088; Email: bgreenberg@newmarkre.com; Web site: www.newmarkre.com. For more information about the Baltimore property, contact Lisa Benjamin, Newmark of Washington, LLC, 1341 Connecticut Avenue, NW, Washington, DC 20036; 202-331-7000; Email: lbenjamin@newmarkre.com; Web site: www.newmarkre.com.
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