Buyers & Sellers
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Buyers & Sellers

RE/MAX Commercial Brokerage is looking to acquire single NNN buildings anywhere in the U.S. on behalf of an overseas investor. The company is interested in transactions priced from $20 million to $30 million.

For more information, contact Manny Klier, RE/MAX Commercial Brokerage, 179 North La Peer Drive, Beverly Hills, CA 90211; 213-280-1851, Fax 213-683-8077.

Sperry Van Ness is marketing a location tenanted by Good Guys, an electronics retailer, at 820 East Imperial Highway in Brea, CA. The 19,500 sq.ft. building sits on a land area of two acres. The asking price is $4.5 million, or $230.77 psf, with a $1.5 million down payment and a cap rate of 9.77% showing a cash on cash return of 11.10%. The lease is absolute NNN with increases every five years, including an option. Other major tenants in the area include McDonald’s, Sears, Robinson’s-May, Nordstrom, Macy’s, Carls Jr., Shoe Pavilion and Chevron.

For more information, contact Reza Etedali or Mehran Foroughi, Sperry Van Ness, 18881 Von Darman Avenue, Suite 800, Irvine, CA 92612; 949-250-4100; Web site: www.svn.com.

Glimcher Realty Trust sold Plaza Vista Mall, a 214,000 sq.ft. community center in Sierra Vista, AZ for $9.9 million, including the assumption of a $7.7 million floating rate mortgage, to a group of private investors, including David J. Glimcher, who also is a member of the Board of Trustees of Glimcher Realty Trust.

For more information, contact William G. Cornely or Carolee J. Oertel, Glimcher Realty Trust, 20 South Third Street, Columbus, OH 43215; 614-621-9000 Ext. 111 for William G. Cornely or Ext. 119 for Carolee J. Oertel; Emails: bcornely@glimcher.com or coertel@glimcher.com; Web site: www.glimcher.com.

Spaulding & Slye Colliers negotiated the sale of Plaza One Fourteen in Lawrence, MA for $10.3 million to Capwell Lawrence LLC. The 103,926 sq.ft. shopping center is located at the intersection of Route 114 and Route 28. The center is 98% occupied, and is cotenanted by Blockbuster Video, Family Dollar, Save-A-Lot Foods, Fleet Bank and Radio Shack.

For more information, contact Steve Steinberg or Emily Kaplan, Spaulding & Slye Colliers, 255 State Street, Boston, MA 02109; 617-531-4122, Fax 617-531-4287; Web site: www.colliersarnold.com.

Inland Retail Real Estate Trust, Inc. acquired the 79,253 sq.ft. Target Center in Columbia, SC at the intersection of U.S. Highway 1 and Valhalla Drive from ZP No. 108 LLC. The location was acquired for $7.62 million. Cotenants include Linens ‘n Things, OfficeMax and Michaels. An adjacent 125,000 sq.ft. Target was not part of the transaction. The center was completed in June 2001 and is 100% occupied.

For more information, contact Rick Fox, Inland Communications, Inc., 2901 Butterfield Road, Oak Brook, IL 60523; 630-218-8000 Ext. 4896; Email: rfox@inlandgroup.com; Web site: www.inlandgroup.com.

Colliers International is marketing the Park Side Regional Mall located in Pinellas County, FL. The site contains approximately 774,000 sq.ft. with a land area of approximately 55 acres.

For more information, contact Michael Milano, Colliers International, 102 West Whiting Street, Suite 300, Tampa, FL 33602; 813-221-2290, Fax 813-224-9403; Email: mmilano@colliersarnold.com; Web site: www.colliersarnold.com.

Acadia Realty Trust sold a multi-property portfolio, which includes four Ames and three Kmart stores to the Lighthouse Group for $52.7 million. The portfolio consists of 17 retail properties totaling approximately 2.3 million sq.ft. Ten properties are located in PA, with the other seven in various southeastern states from FL to VA. The properties represented an estimated 25% of the company’s total portfolio. Acadia Realty Trust will be retaining a senior, preferred interest in the owning entity.

For more information, contact Jon Grisham, Acadia Realty Trust, 20 Soundview Market Place, Port Washington, NY 11050-2221; 516-767-7550. For general inquiries, contact Susan Garland of FRB Weber Shandwick at 212-445-8458; Web site: www.acadiarealty.com.

Brad Thomas Properties, Inc. acquired Denton Plaza in Denton, NC. The estimated 40,000 sq.ft. center is anchored by Lowe’s Foods. The buyer plans to expand the center by 18,000 sq.ft.

For more information, contact Brad Thomas, Brad Thomas Properties, 517 East Saint John Street, Spartanburg, SC 29302; 864-948-9868, Fax 864-598-9705; Email: rbtinc@prodigy.net.

Ershig Properties, Inc. is looking to acquire county seat enclosed malls and neighborhood shopping centers throughout the southeast and the midwest in the $1 million to $10 million range.

For more information, contact Greg Oxford, 1800 North Elm Street, Henderson, KY 42419; 270-826-0595, Fax: 270-827-3969; Email: goxfordershig@hotmail.com.

Ziff Properties, Inc. acquired Lanier Plaza in Brunswick, GA located on U.S. Highway 17, just south of the St. Simons Causeway intersection. The 205,000 sq.ft. center is situated on a 14.4-acre site. Spectrum Realty Advisors brokered the transaction. Ziff Properties, Inc. is actively acquiring retail sites in FL, GA, NC, SC and southern VA.

For more information, contact Sharon Relford, 701 East Bay Street, Charleston, SC 29403; 843-724-3463, Fax 843-724-3400; Email: srelford@zpi.net; Web site: www.zpi.net.

Eyde Co. is marketing a property adjacent to Genesee Valley Mall in Flint, MI. The 16.34-acre site is available immediately for sale, lease or build-to-suit terms. The company will divide. Demographics include a population of 111,142 within five miles earning $46,321 as the average household income.

For more information, contact Michele Abbruzzese, Eyde Co., Suite 660, 4660 South Hagadorn Road, East Lansing, MI 48823; 800-442-3933, Fax 517-351-3946; Web site: www.eyde.com.

Alexander & Baldwin, Inc. sold Market Square Shopping Center in Greeley, CO to Wheeler Square Associates, Inc. The sales price for the 43,000 sq.ft. center was not disclosed. The center’s major tenants include Chili’s Grill & Bar, Blockbuster Video and Wells Fargo.

For more information, contact Meredith J. Ching, Alexander & Baldwin, 822 Bishop Street, Honolulu, HI 96813, PO Box 3440, Honolulu, HI 96801-3440; 808-525-6611, Fax 808-525-6652; Web site: www.alexanderbaldwin.com.

Regency Centers acquired Tall Oaks Village Center located at Wiehle and North Shore Drives in Reston, VA from Tall Oaks Village Center LLC for $8.4 million. The 71,953 sq.ft. center is anchored by Giant Food, and is cotenanted by Great Clips, Dominos Pizza and Video Warehouse.

For more information, contact Regency Centers, Suite 200, 121 West Forsyth Street, Jacksonville, FL 32202; Email: leasing@regencycenters.com; Web site: www.mbapr.com.

SC Properties is marketing a Sav-On-Drug parcel in Glendora, CA. The 14,884 sq.ft. building is located near a community center anchored by Von’s and Longs Drugs. The lease is a true NNN, including roof, structure and parking lot with 10% increases every five years for a sale at $5.2 million.

For more information, contact Kevin Bird, SC Properties LLC, 510 South Grand Avenue, Suite 300, Glendora, CA 91741-4207; 626-963-1505, Fax 626-963-5930; Email: kevin@scproperties.com; Web site: www.scproperties.com.