Buyers & Sellers
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Buyers & Sellers

The Skinner & Broadbent Co. is marketing the Lafayette Village Strip Center located on Century Plaza Road in Indianapolis, IN with a daily traffic count of 52,000 vehicles. The 40,000 sq.ft. center, which is 97% leased and adjacent to the Lafayette Square Mall, sits on a land area of 4.23 acres and is available for $1.31 million. Area demographics include a population of 232,905 within five miles earning $55,524 as the average household income.

For more information, contact Jim Mosher, The Skinner & Broadbent Co., 201 North Illinois Street, 23rd floor, Indianapolis, IN 46204; 317-237-2900, Fax 317-237-2953; Email: jmosher@skinnermail.com; Web site: www.skinnerbroadbent.com.

Marcus & Millichap is marketing a T.G.I. Friday’s on 1720 Bechtle Avenue in Springfield, OH with a daily traffic count of 49,918 vehicles. The asking price is $2.43 million with a Cap rate of 8.6%. The primary absolute NNN lease has 17 years remaining. The annual rent increases every 10 years. An outparcel to a Super Wal*Mart also is available.

For more information, contact J. Chris Rea, Marcus & Millichap, 600 Northpark Town Center, Suite 650, Atlanta, GA 30328; 678-942-4630, Fax 810-454-0470; Email: crea@marcusmillichap.com; Web site: www.mm-cnl.com.

Silo Financial Corp. is looking to acquire post offices, banks, supermarket-anchored shopping centers and other retail centers throughout the northeast, preferably in CT, NY and NJ.

For more information, contact Jonathan Daniel, Silo Financial Corp., 270 Greenwich Avenue, Greenwich, CT 06830; 203-869-3999, Fax 203-869-2633; Email: jdaniel@silo-financial.com; Web site: www.silo-financial.com.

Goodstein Realty is marketing a Kmart and Winn-Dixie-anchored shopping center in Charlotte, NC. The 141,779 sq.ft. center sits on a land area of 15.5 acres and is 94% leased.

For more information, contact Nilla Faringer, Goodstein Realty, 31 Hamilton Terrace, New York, NY 10031; 917-445-9839; Email: gfaringer@aol.com.

Inland Retail Real Estate Trust, Inc. acquired Melbourne Shopping Center, a 209,217 sq.ft. shopping center in Melbourne, FL located at 1301-1441 South Babcock Street at the intersection of Hibiscus Street and Sheridan Road. Inland acquired the Publix-anchored center for $9.77 million from Melbourne Shopping Center, Inc. Cotenants include Big Lots, Beall’s Outlet, Burke’s Outlet and Dollar Tree.

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

Capital & Counties U.S.A., Inc., sold Parkway Square Shopping Center, an 85,000 sq.ft. specialty retail center in Tukwila, WA, to Everett Plaza Shopping Center. The center is anchored by Toys "R" Us, Magnolia Hi-Fi and Sterling Jewelers. Terms of the sale were not disclosed.

For more information, contact Capital & Counties U.S.A., Inc., 100 The Embaracadero, Suite 200, San Francisco, CA 94105; 415-421-5100, Fax 415-421-6021.

Insignia/ESG is marketing a 6,840 sq.ft. center on a land area of 1.366 acres in Bristol, VA at the intersection of Gate City Highway and Euclid Avenues with a daily traffic count of 40,000 vehicles. The center is tenanted by Hollywood Video and Cingular Wireless. The asking price is $1.35 million.

For more information, contact Michael Zacariah and P.K. Kamath, Insignia/ESG, 555 11th Street, NW 300, Washington, D.C. 20004; 202-585-5542, Fax 202-783-7238; Email: prakash.kamath@iesg.com; Web site: www.insigniaesg.com.

Ron M. Pelleg is marketing a 10,000 sq.ft. freestanding Hollywood Video on a land area of approximately one acre at 902 South Mason Road in Katy, TX with an asking price of $2.25 million. The NNN lease concludes in 2010 with two five-year options at 15% increases. Area demographics include a population earning $103,000 as the average household income.

For more information, contact Ron Pelleg, Ron M. Pelleg, 1640 South Sepulveda Boulevard, Suite 308, Los Angeles, CA 90025; 310-477-5300 Ext. 104, Fax 310-479-1870; Email: rpelleg@brandx.net.

Rancourt & Associates, Inc. is marketing a 211,000 sq.ft. center on a land area of 18 acres in Daytona Beach, FL at the intersection of State Road 92 and Nova Road with a daily traffic count of 83,500 vehicles. The center is 92.24% occupied.

For more information, contact Jon Zolsky, Rancourt & Associates, Inc., 444 Seabreeze Boulevard, Suite 615, Daytona Beach, FL 32118; 386-226-2622, Fax 386-226-2624; Email: jon@beautiful-florida.com; Web sites: www.beautiful-florida.com, www.edancourt.com.

Staubach Retail Services is marketing a 74,175 sq.ft. Rainbow Foods at 2200 East Lohman in Las Cruces, NM on a land area of 8.276 acres. Asking price is $5.72 million with a Cap rate of 8.75%. The 15-year NNN lease will increase after 11 years. Other tenants in the area include Toys "R" Us, Big Lots, Hobby Lobby, Hastings and Wal*Mart. The company also is marketing a 70,576 sq.ft. Rainbow Foods at 3265 Broadway in Garland, TX on a land area of 7.193 acres. Asking price is $5.544 million with a Cap rate of 8.75%. The 15-year NNN lease will increase after 11 years. Other tenants in the area include a McDonald’s, Kmart and Luby’s. Staubach Retail Services is the exclusive broker for Cypress Equities.

For more information, contact David T. Wojciechowski, Staubach Retail Services, Tower Forty-Nine, 12 East 49th Street, 31st Floor, New York, NY 10017; 212-418-2600, Fax 212-418-2675.