Buyers & Sellers
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Buyers & Sellers

Pace Properties, Inc. brokered the sale of 154,000 sq.ft. of retail space from Net Lease Properties to 99 VC University City, LLC at 8020 Olive Street Road in St. Louis, MO.

For more information, contact Pace Properties, Inc., 1401 South Brentwood Boulevard, Suite 100, St. Louis, MO 63144; 314-968-9898, Fax 314-968-5050; Web site: www.paceproperties.com.

Brooks Pharmacy is marketing a 50,010 sq.ft. building at 149 Granite Street in Westerly, RI. The asking price is $650,000.

For more information, contact Donn Hamilton, Brooks Pharmacy, 50 Service Avenue, Warwick, RI 02886; 401-825-3806; Fax 401-825-3506.

NAI Capital is marketing a 91,357 sq.ft. grocery-anchored neighborhood shopping center in the Dallas/Ft. Worth area of TX. The center is anchored by Winn-Dixie, Blockbuster and other national and regional tenants. The center is 97% leased and additional pads are included for future expansion. The asking price is $8.93 million all cash or financing is available that will produce an 11.25% cash-on-cash return.

For more information, contact Melvyn B. Moss or Laurence Saper, NAI Capital, 11999 San Vicente Boulevard, Suite 215, Los Angeles, CA 90049; 310-440-8500, Fax 310-440-8525; Email: westla@naicapital.com; Web site: www.naicapital.com.

Winick Realty Group is marketing surplus properties for ExxonMobil. A nine-acre property at the intersection of Compond Road and Stony Street in Yorktown Heights, NY is available. The site has more than 900 feet of frontage and an average daily traffic count of 22,000 vehicles. The property is across from BJ’s Wholesale Club, Staples and Bed Bath & Beyond. The asking price is $3.25 million. The company also is marketing a 17-acre site at the intersection of U.S. Route 9 and St. Andrew Road in Hyde Park, NY. The site has 1,200 feet of frontage and an average daily traffic count of 20,000 vehicles on Route 9 and 8,000 vehicles on St. Andrew Road. Area demographics include a population of 20,848 residing in a three-mile radius earning an average household income of $55,552. The asking price is $1.1 million. An 11,685 sq.ft. property at the intersection of Hempstead Turnpike and Stewart Avenue in Bethpage, NY also is available. The site has 100 feet of frontage on Hempstead Turnpike and 115 feet on Stewart Avenue. The asking price is $550,000. The company also is marketing a 18,506 sq.ft. property at 1300 Sedgwick Avenue in Bronx, NY. The asking price is $450,000.

For more information, contact Peter Koestenblatt or Darrell J. Rubens, Winick Realty Group, 655 Third Avenue, Eighth Floor, New York, NY 10017; 212-792-2600, Fax 212-792-2660; Email: peter@winick.com or darrell@winick.com; Web site: www.winick.com.

Pyramid Brokerage Co. is marketing a 26-acre development site in Johnson City, NY. Area demographics include a population of 110,000 residing in a five-mile radius earning an average household income of $51,372. The site has an average daily traffic count of 71,000 vehicles. The asking price is $3.75 million. A 29.7-acre site on Interstate 86 in Owego, NY also is being marketed by the company. The site, which has 12.25 usable acres, has 1,000 feet of frontage on Route 434 and an average daily traffic count of 18,000 vehicles. The asking price is $625,000. Additionally, the company is marketing a 1.05-acre site on 724 Main Street in Johnson City, NY. Formerly the site for McDonald’s, the lot has been cleared for redevelopment. The site has an average local daily traffic count of 23,000 vehicles. Neighboring retailers include Home Depot and Aldi. Options include sale, ground lease or build to suit for a long-term tenant. The asking price is $350,000.

For more information about Johnson City properties, contact Maureen D. Wilson, Pyramid Brokerage Co., 111 Grant Avenue, Suite 103, Endicott, NY 13760; 607-754-5990, Fax 607-754-7826. For more information about the Owego property, contact Kevin Besser, Pyramid Brokerage Co., 607-754-5990; Email: kbesser@pyramidbrokerage.com; Web site: www.pyramidbrokerage.com.

Collins Real Estate Advisors, Inc. is marketing a 55,000 sq.ft. shopping center in Galena, IL. The six-year-old center is anchored by Dick’s Supermarket and Clingman’s Pharmacy. Other tenants include a Medical Clinic, State of IL Drivers license center, Edward Jones, Mane Event Hair Salon and Title Company. All leases are triple net and additional expansion opportunities exist. The asking price is $3.5 million. In addition, the company is marketing a 15,120 sq.ft. Walgreens at the intersection of Highway 51 and Highway 151 in Madison, WI. The asking price is $4.5 million.

For more information, contact Matt Collins, Collins Real Estate Advisors, Inc., 911 Eddington Drive, Sun Prairie, WI 53590; 608-834-9545, Fax 608-825-8195; Email: mattcollins@msn.com.

Diversified Partners is marketing a site adjacent to a new Safeway grocery store. Two parcels are available with 20,550 sq.ft. of proposed retail space. The site is located at the intersection of Highway 89 and Road 2 North in Chino Valley, AZ. The asking price is $750,000.

For more information, contact Tim Dollander or Ilaria A. Giansanti, Diversified Partners, 6916 East 5th Avenue, Scottsdale, AZ 85251; 480-947-8800, Fax 480-947-8830.

Mid-America Real Estate Corp.’s Investment Sales Group brokered the sale of an Osco Drugstore in Milwaukee, WI on behalf of General Capital. The 12,960 sq.ft. single-tenant store is located at 912 Capitol Drive. The purchaser is completing an 1031 Exchange.

For more information, contact Mid-America Real Estate Group, Two Mid-America Plaza, Third Floor, Oakbrook Terrace, IL 60181; 630-954-7300; Web site: www.midamericagrp.com.

Halibej Realty & Associates Co. is marketing two properties in Jefferson, NJ: a three-acre lot on Route 15 zoned C-2 Highway Business for $295,000 and a 3.6-acre lot for $650,000.

For more information, contact Glenn Beyer, Halibej Realty & Associates Co., 2200 Route 10 West, Suite 205, Parsippany, NJ 07054; 973-285-5006, Fax 973-285-5446; Email: halibej@email.msn.com.

The Hutensky Group and Sperry Van Ness brokered the sale of a former Staples site at 2175 Dixwell Avenue in Hamden, CT for J.P. Morgan Realty Asset Management, Inc. The property was sold for $905,000 to P.J.C. Realty Co., which was represented by Sullivan-Hayes NE.

For more information, contact Denis Robidoux, The Hutensky Group, 280 Trumbull Street, 2nd Floor, Hartford, CT 06103; 860-527-2222.

Marcus & Millichap is marketing nine absolute NNN Taco Bell properties in the greater Minneapolis/St. Paul, MN area. The asking prices are between $804,878 and $1,335,366 at a Cap rate of 8.2% with 9.5% yield over lease term. The 20-year leases have a 10-month primary lease term with absolute net lease and no landlord responsibilities. The leases have fixed 10% rental increases paid every five years and four five-year renewal options with 10% increases.

For more information, contact Dan Grooters or Michael Easter, Marcus & Millichap, 1401 17th Street, Suite 1100, Denver, CO 80202; 303-320-1300, Fax 303-308-9048; Email: dgrooters@marcusmillichap.com or measter@marcusmillichap.com; Web site: www.marcusmillichap.com.