Buyers & Sellers
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Buyers & Sellers

Charter Realty & Development Corp. acquired The Manchester Shopping Center, a 65,932 sq.ft. center located in Manchester, VT. Tenants include Price Chopper, Eastern Mountain Sports and Aubochon Hardware. Additionally, a new movie theater recently opened. The center has recently been renovated. Space of 10,000 sq.ft. is available.

For more information, contact Charter Realty & Development Corp., 411 West Putnam Avenue, Suite 111, Greenwich, CT 06830; 203-629-3939, Fax 203-629-3933; Web site: www.chartweb.com.

CB Richard Ellis/Pittsburgh LP is selling a 54-acre development site located on McKees Rocks Road in Kennedy Township, PA for $2.4 million. The site is adjacent to Kennedy Shopping Center, which features a Giant Eagle supermarket, and is across from the Ohio Valley General Hospital.

For more information, contact Steven M. Esposito, CB Richard Ellis/Pittsburgh LP, Pennsylvania RS-227719-L, US Steel Tower, 14th Floor, 600 Grant Street, Pittsburgh, PA 15219; 412-394-9845, Fax 412-918-5638; Email: sesposito@cbre.com.

Grand Rapids Real Estate is selling Koeze Estate Property in Wyoming, MI for $6.25 million. The 18.3-acre parcel is located on Wilson Avenue, across the street from Rivertown Crossings Mall. The vacant farmland is conducive for the development of a shopping center.

For more information, contact Brian Silvernail, Grand Rapids Real Estate, 169 Monroe Northwest, Suite 200, Grand Rapids, MI 49503; 616-454-9033, Fax 616-878-7199; Email brians@grandrapidsproperties.com.

Sperry Van Ness is selling Decatur Auto Plaza, a fully-leased, NNN, multi-tenant auto and retail center located at 5035-5055-5075 South Decatur Boulevard in Las Vegas, NV for $5.4 million. The average daily traffic count is 88,000 vehicles. The offering shows a 10.14% cash on cash return.

For more information, contact Dario Franceschi or Michael Boscia, Sperry Van Ness, 3960 Howard Hughes Parkway, Fifth Floor, Las Vegas, NV 89109; 702-914-2200, Fax 702-765-6006.

Edens & Avant Commercial Real Estate and Samuels & Associates jointly acquired 36 Konover shopping centers in NJ, NY, PA and New England from Konover & Associates.

For more information, contact Susan Sale-Korper, Edens & Avant Commercial Real Estate, 900 Bank of America Plaza, 1901 Main Street, Columbia, SC 29201; 800-662-7212 or 803-770-4420, Fax 803-765-0684; Web site: www.edensandavant.com. Or contact, Geri Denterlein, Samuels & Associates, 333 Newbury Street, Boston, MA 02115; 617-482-0042, Fax 617-266-8788.

Janovetz Realty Advisors is representing five clients looking to acquire shopping centers in the $8 million to $30 million range. The first client is seeking a new center, preferably in the Chicago, IL area, with more than five tenants for between $9 million and $10 million and a Cap rate of 8%. Client two is an all-cash buyer seeking sites in the central and western states for $9 million to $11 million with a Cap rate of 9%. The third client is seeking sites with more than five tenants nationwide for $25 million to $30 million. Client four is seeking sites in southern FL with between one to four tenants for $6 million with Cap rates of 8% to 9%. The fifth client is seeking sites nationwide with one to five tenants at any Cap rate for between $8 million to $10 million. The company also has three buyers for new Walgreens or freestanding credit tenant properties with 20 to 25 year leases for up to $20 million. The company also has multiple buyers for Staples or Office Depot locations.

For more information, contact James A. Janovetz, Janovetz Realty Advisors, 6 East Yacht Drive, Oak Island, NC 28465; 910-278-9932, Fax 910-278-9951; Email: janovetz@bellsouth.net.

Marcus & Millichap is selling three separate portfolios comprising three Wawa convenience stores. The company is selling three Wawa convenience stores in DE, NJ and PA for $11.51 million with a Cap rate of 8.8%. The company also is selling three Wawa convenience stores in DE, MD and PA for $12.87 million with a Cap rate of 8.8% and the company is selling three Wawa convenience stores in DE, NJ and PA for $12.75 million with a Cap rate of 8.8%. All leases are flat during the 20-year absolute bond NNN term.

For more information, contact John Glass or Steve Regenstreif, Marcus & Millichap, 750 Battery, Suite 500, San Francisco, CA 94111. For John Glass, call 415-391-9220 Ext. 310; for Steve Regenstreif, call 888-666-3325; Emails: jglass@speakeasy.net and steve@nnndeal.com.

NewBridge Retail Advisors, Inc. and Stirling Properties are selling Northeast Plaza, an 89,224 sq.ft. center located at the intersection of Sullivan Road and Greenwell Springs Road in Baton Rouge, LA. The center is anchored by a 42,130 sq.ft. Save-A-Center supermarket, Eckerd and Dollar General. Cotenants include Radio Shack, Edward Jones Investments, Video USA, Domino’s Pizza and USA Agencies Insurance.

For more information, contact Lynn Leonard, NewBridge Retail Advisors, Inc., 11675 Great Oaks Way, Suite 135, Alpharetta, GA 30022; 678-802-6565, Fax 678-802-6588; Email: lleonard@newbridgeretail.com. Or contact, Stirling Properties, 109 Northpark Boulevard, Suite 300, Covington, LA 70433; 985-898-2022, Fax 985-898-2077; Email: stir@stirlingprop.com.

Edgemark Commercial Real Estate Services, LLC arranged the sale of Centennial Plaza, a 38,250 sq.ft. center located at the intersection of State Street and 127th Street in Lemont, IL for an undisclosed sum to Lemont Venture, LLC. The center is adjacent to Jewel/Osco.

For more information, contact Edgemark Commercial Real Estate Services, LLC, 2215 York Road, Suite 503, Oak Brook, IL 60523; 630-472-1010.

Center Trust, Inc. sold the following three non-core, open-air centers consisting of two non-supermarket-anchored centers and a Kmart-anchored center: Ross Center, a 134,000 sq.ft. open-air center located in Clackamas, OR, anchored by Ross Stores, Michaels and Pier 1; Vancouver Park Place, a 78,000 sq.ft. open-air center located in Vancouver, WA, anchored by T.J. Maxx and Pier 1 and Rosedale Village Shopping Center, a 127,000 sq.ft. open-air center located in Bakersfield, CA, anchored by Save Mart. The aggregate sale price was $38.8 million.

For more information, contact Center Trust, Inc., 3500 Sepulveda Boulevard, Manhattan Beach, CA 90266; 310-546-4520, Fax 310-545-6798; Web site: www.centertrust.com.

Insite Commercial Group is representing a client looking to acquire existing infill regional malls and shopping centers in the U.S. The GLAs must be 100,000 sq.ft. for shopping centers and 400,000 sq.ft. for malls.

For more information, contact Christopher Jonna, Insite Commercial Group, 25800 Northwestern Highway, Suite 720, Southfield, MI 48075; 248-355-6132, Fax 248-455-4932; Email: cjonna@insitecommercial.com.

Colliers Retail Investment Services sold Marysville Towne Center, a 226,797 sq.ft. center located at the intersection of Fourth Street and State Avenue in Marysville, WA for $12.975 million. The center is anchored by Albertsons, Rite Aid, Gottschalks, JCPenney and Staples.

For more information, contact Paul Sleeth, Colliers Retail Investment Services, 601 Union Street, Suite 5300, Seattle, WA 98101; 206-223-1266; Email: paul.sleeth@colliers.com.

NetUSrealestate.com is selling a 52,000 sq.ft. retail/office center with a national and regional tenant mix in TN for $3.64 million. The gross annual rents are $438,151.

For more information, contact Jennifer VanWilliams, NetUSrealestate.com, 4318 Downtowner Loop North, Suite E, Mobile, AL 36609; 251-344-2000, Fax 251-344-4144; Email: jenvan@netusrealestate.com; Web site: www.netusrealestate.com.