Buyers & Sellers
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Buyers & Sellers


Lechner Realty Group is selling a 36,031 sq.ft. Kroger-anchored shopping center in Vandalia, IL. The asking price is $995,000 with a Cap rate of 10.81%.

For more information, contact Hal Hanstein, Lechner Realty Group, 12882 Manchester Road, Suite 201, St. Louis, MO 63131; 314-909-8100; Email: hhanstein@ccim.net; Web site: www.isellstlouis.com.

Century 21 is selling a 13,200 sq.ft. retail plaza in Port Elgin, Ontario for $799,000 Canadian or $60 psf. The center is 60% rented at 50% of the market rent.

For more information, contact Sharm MaClean, Century 21, 250 Eighth Street East, Onsound, Ontario N4K 1L1; 519-372-2121.

NewBridge Retail Advisors is selling the 85,905 sq.ft. Gateway Shopping Center in Sevierville, TN. The center is anchored by Kroger and has an underlying 20-year ground lease. The center also is cotenanted by Cracker Barrel. The company also sold Cox Creek Centre, a 174,207 sq.ft. shopping center in Florence, AL to Inland Southeast Cox Creek, LLP. The center is anchored by Target, Best Buy, Michaels, Linens ‘n Things, Dick’s Sporting Goods, Pier 1 and LifeWay Christian Stores.

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.

Navarro Real Estate, Inc. is selling a former Montgomery Ward TBA building. The 1.5 acre site is located at the Greenville Mall on Woodruff Road in Greenville, SC. The property is located across from Target, Home Depot and BJ’s.

For more information, contact Marty L. Navarro, Navarro Real Estate, Inc., 1148 Woodruff Road, Suite 100, Greenville, SC 29607; 864-283-3000, Fax 864-283-3009.

Inland Retail Real Estate Trust, Inc. acquired a 27,891 sq.ft. Circuit City in Cary, NC for $5.68 million. The store is located at the intersection of Piney Plains Road and Walnut Street. The company also acquired the 73,280 sq.ft. Forest Hills Centre in Wilson, NC for $6.66 million. The center is anchored by a 32,960 sq.ft. Harris Teeter supermarket and is cotenanted by Sports Connection, Subway, US Cellular, Rent-A-Center and Factory Mattress.

For more information, contact Rick Fox, Inland Retail Real Estate Trust, Inc., 2901 Butterfield Road, Oak Brook, IL 60523; 630-218-8000; Email: rfox@inlandgroup.com, Fax www.inlandgroup.com.

Edens & Avant acquired Cascades Marketplace, a 313,625 sq.ft. Giant Food-anchored shopping center in Sterling, VA. The center is cotenanted by Marshalls, Staples, The Sports Authority and Linens ‘n Things. Cascades Marketplace is located at the intersection of Cascades Parkway and Route 7.

For more information, contact Susan Sale-Korper, Edens & Avant, PO Box 528, Columbia, SC 29202; 800-662-7212.

Marcus & Millichap sold Wolf Pen Plaza for $16.292 million with a Cap rate of 9.9%. The 169,989 sq.ft. center is located at the intersection of Texas Avenue and Holleman Drive in College Station, TX. Cotenants include Ross, Hobby Lobby, Petco, Shoe Carnival and Goody’s. The center is currently 95% occupied.

For more information, contact Larry Gray, Marcus & Millichap, 500 Ygnacio Valley Road, Suite 330, Walnut Creek, CA 94596; 925-979-9810.

Combined Properties, Inc. acquired Greenway Shopping Center for $47.2 million. The property is located on Greenbelt Road in Greenbelt, MD. The 265,000 sq.ft. center is anchored by Safeway, CVS Pharmacy, Ross Dress For Less, Old Navy and Bally’s Fitness Center.

For more information, contact Linda Dreyer, Combined Properties, 1255 22nd Street Northwest, 6th Floor, Washington, DC 20037; 202-736-2813, Fax 202-833-3013; Web site: www.combinded.biz.

Commercial One Realtors is selling a restaurant site in Columbus, OH for $850,000. The company also is selling a 62,500 sq.ft. retail site in Akron, OH for $2.75 million. The property contains a three-level parking garage with 500 spaces.

For more information, contact Tony Mesi, Commercial One Realtors, 1515 Bethel Road, Columbus, OH 43220; 614-451-5100, Fax 614-451-9943; Email: tonlora@aol.com; Web site: www.C1Realty.com.

Arroyo and Coates is selling a Walgreens store in Spokane, WA for $4.65 million with a Cap rate of 8%.

For more information, contact Paul Souza, Arroyo and Coates, 500 Washington Street, Suite 700, San Francisco, CA 94111; 415-445-7800, Fax 415-677-0967; Email: psouza@a-c.com.

Butler Real Estate, Inc. is selling property in Independence, MO for $10,014,000 with a Cap rate of 10.37%. The Garden Ridge building encompasses 122,472 sq.ft.

For more information, contact Chuck Connely, Butler Real Estate, Inc., 1540 Genessee Street, Kansas City, MO 64102; 816-968-3234, Fax 816-968-6522; Email cconnely@butlermfg.com.

CB Richard Ellis, Inc. sold the Northside Shopping Center located in Miami-Dade County, FL for $11.55 million to Urban America. The shopping center encompasses 500,000 sq.ft. and is cotenanted by Walgreens, McDonald’s, East Locker and Payless Shoe Source.

For more information, contact Lee S. Sobel, CB Richard Ellis, Inc., 777 Brickell Avenue, Suite 1000, Miami, FL 33131; 305-381-6431, Fax 305-381-6462.

Hastings Cohn Real Estate is selling Garden Village Plaza for $5 million. The center is located at the intersection of Union and French Roads in Cheektowaga, NY with a daily traffic count of 23,500 vehicles. The property is 86% occupied and is anchored by Vix Drug Store and Ames. Demographics include a population of 83,327 within three miles earning $36,587 as the average household income.

For more information, contact Alan Hastings, Hastings Cohn Real Estate, 423 Elmwood Avenue, Buffalo, NY 14222; 716-886-3325, Fax 716-886-0060.

NAI Capital Commercial is representing investors seeking single-tenant properties between $600,000 to $3 million. Preferred tenants include McDonald’s, Jack-in-the-Box, Carl’s Jr. CSK Auto, and IHOP. The investors will consider ground leases.

For more information, contact Laurence Saper, NAI Capital Commercial, 19300 South Hamilton Avenue, Suite 100, Gardenia, CA 90248; 310-532-9080, Fax 310-327-259; Email: lsaper@naicapital.com; Web site: www.naicapital.com.

CB Richard Ellis is selling Plaza de Monterey, an 84,840 sq.ft. shopping center located in Palm Desert, CA with a daily traffic count of 56,830 vehicles. The center is anchored by Albertsons. Demographics include a population of 34,767 within three miles earning $69,571 as the average household income. The asking price is $8.18 million.

For more information, contact Sam Alison, CB Richard Ellis, 355 South Grand Avenue, Suite 3100, Los Angeles, CA 900071; 213-613-3637; Fax 213-613-3630, Email: salison@cbre.com.

Colliers International is selling a 10-acre retail site in Brentwood, CA. The parcel is located at the intersection of Empire Road and Lone Tree Way with a daily traffic count of 22,000 vehicles.

For more information, contact Deborah Perry, Colliers International, 1850 Mount Diablo Boulevard, Suite 200, Walnut Creek, CA 94596; 925-279-5561, Fax 925-279-0450; Email: dperry@colliersparrish.com.