Buyers & Sellers
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Buyers & Sellers


Pine Tree Commercial Realty, LLC acquired a 2.4 parcel of land in Guntersville, AL for the development of a 23,942 sq.ft. freestanding Staples. The property is located on Highway 431 South across from a Wal*Mart Supercenter.

For more information, contact Peter Borzak, Pine Tree Commercial Realty, LLC, 51 Sherwood Terrace, Suite C, Lake Bluff, IL 60044; 847-735-0600, Fax 847-735-0664.

Diversified Partners is selling a 6,700 sq.ft. freestanding building for $450,000 with a Cap rate of 11%. The building is occupied by EyeGlass World, and located at the intersection of 75 Avenue and Thomas Road in Scottsdale, AZ.

For more information, contact Walt Brown Jr. or Tim Dollander, Diversified Partners, 6916 East 5th Avenue, Scottsdale, AZ 85251; 480-947-8800.

United Commercial Development, in partnership with Centennial Real Estate Corp., sold Village Park Shopping Center. The 49,730 sq.ft. center is located at 2220 West Park Row in Pantego, TX.

For more information, contact Linda Wilmore, United Commercial Management Corp., 7001 Preston Road, Dallas, TX 75205; 214-224-4606, Fax 214-219-2080; Email: ljwilmore@ucdcorp.com.

Mid-America Real Estate-Wisconsin brokered the sale of Pier 37 to United Centers on behalf of Livesey Co. The 117,075 sq.ft. supermarket-anchored center is located at the intersection of Monona Drive and Beltline Highway in Monona, WI. The center is anchored by Kohl’s Food Emporium and is cotenanted by Staples, Animal Adventure and Hollywood Video. Mid-America Real Estate-Wisconsin also negotiated the land acquisition and ground lease of a five-acre parcel in Menomonee Falls, WI. The seller was Trieglaff Development. The company also completed the sale of a 1.64-acre Home Depot outlot on South 27th Street in Franklin, WI to Chili’s. Mid-America Real Estate also handled the sale of Broadway Plaza to Heidner Properties on behalf of a private syndicator. The 53,595 sq.ft. center is located on a 2.1-acre parcel on Broadway Street in Chicago, IL. The center is cotenanted by Dollar Tree, Murray’s Discount, Dots, GNC, Payless ShoeSource and Supercuts and is 100% occupied.

For more information on the Pier 37 acquisition, contact Mid-America-Wisconsin, 111 East Kibourn, Suite 2300, Milwaukee, WI 53202; 414-273-4600. For more information on the Broadway Plaza acquisition, contact Mid America Real Estate Corp., Two Mid-America Plaza, Third Floor, Oakbrook Terrace, IL 60181; 630-954-7300.

CB Richard Ellis represented Port St. Lucie Associates in the sale of a 91,490 sq.ft. Publix-anchored shopping center to St. Lucie Realty Associates. The property is located at 6600 South Federal Highway in Port St. Lucie, FL.

For more information, contact Jennifer Kaich, CB Richard Ellis, 5355 Town Center Road, Suite 701, Boca Raton, FL 33486; 561-393-1692, Fax 561-393-1650; Web site: www.cbrichardellis.com.

Atlanta Realty Advisors is selling three strip centers in GA. Asking prices are $4.5 million with a Cap rate of 11.5%; $2.9 million with a Cap rate of 9.8% and $1.11 million with a Cap rate of 11%.

For more information, contact Top Kervin, Atlanta Realty Advisors, PO Box 11575, Atlanta, GA 30355; 770-616-6180, Fax 770-452-0953.

Phase One Realty, Inc. is selling a 15,120 sq.ft. Walgreens in Los Lunas, NM for $4.535 million with a Cap rate of 8.5%. Leases running 20 years plus options are typical.

For more information, contact Robert H. Fippinger, Phase One Realty, Inc., 333 Montezuma, 2nd Floor, Santa Fe, NM 87501; 505-988-3883, Fax 505-988-5134; Email: rhf@phaseonerealty.com.

Staubach Retail Services is selling Fleming-Rainbow Foods at the following locations: a 63,117 sq.ft. store in Rowlett, TX for $4.870 million with a Cap rate of 8.75%; a 70,567 sq.ft. store in Mesquite, TX for $5.444 million with a Cap rate of 8.75% and a lease term of 15 years; a 68,982 sq.ft. location in Plano, TX for $5.321 million with a Cap rate of 8.75% and a 59,786 sq.ft. store in The Colony, TX for $4.612 million with a Cap rate of 8.75%.

For more information, contact David T. Wojciechowski, Staubach Retail Services, Tower 49, 12 East 49th Street, 31st Floor, New York, NY 10017; 212-418-2668.

The Polacheck Co. is representing a buyer who has $1 million to invest in a deal with Wal*Mart, Walgreens, Lowe’s or the equivalent credit tenant.

For more information, contact Dave J. Holzem, Investment Properties Group, The Polacheck Co., 777 East Wisconsin Avenue, Suite 3250, Milwaukee, WI 53202; 414-274-1634.

Pacific Locations is representing a buyer who is willing to invest at least $1.2 million in a fast food concept in CA or the Las Vegas, NV area.

For more information, contact Dick Rhodes, Pacific Locations, 45395 Desert Eagle Court, La Quinta, CA 92253; 760-345-6229, Fax 760-345-7119.

Silver Willis Investment Real Estate Brokerage sold Good Guys! located at 1401 Hawthorne Boulevard in Redondo Beach, CA. The 31,500 sq.ft. building is located adjacent to the Galleria at South Bay Mall.

For more information, contact Silver Willis Real Estate Investment, 700 Larkspur Landing Circle, Suite 200, Larkspur, CA 94939; 415-461-0600, Fax 415-461-4940.

Edgemark Commercial Real Estate Services, LLC arranged the sale of the Jared Jewelers building in Lombard, IL. The building occupies a space of 5,780 sq.ft.

For more information, contact Edgemark Commercial Real Estate,2215 York Road, Suite 503, Oakbrook, IL 60523; 630-572-5610.

Gator Investments sold the 1.5 million sq.ft. Forest Fair Mall in Cincinnati, OH to Mills Corp. The mall is anchored by Kohl’s, Bass Pro Shops Outdoor World, Burlington Coat and Off 5th.

For more information, contact The Mills Corp., 1300 Wilson Boulevard, Suite 400, Arlington, VA 22209; 703-526-5000; Web site: hr@millscorp.com.

Sperry Van Ness is representing a buyer willing to invest $1.5 million to $2 million in an absolute NNN Walgreens or other national tenant locations in the west. The buyer prefers the Rocky Mountain region.

For more information, contact Jeffery H. Bernson, Sperry Van Ness, 7324 South Union Park Avenue, Suite 200, Midvale, UT 84047; 801-304-5900, Fax 801-304-7008.

C-21 Alliance is representing a client looking to invest $1 million to $2.5 million in NNN properties throughout CA.

For more information, contact Jamil Tams, C-21 Alliance, 2488 Junipero Serra Boulevard, Daly City, CA 94015; 650-991-5223, Fax 415-739-1259; Email: jamil1@aol.com.

Inland, Inc. sold a 6,435 sq.ft. retail center anchored by White Hen Pantry in Oak Forest, IL for $630,000. The center has a Cap rate of 10.3% and five rental units. The company also sold Evanston Auto Fitness Center for $2.05 million. The center is located at 1941-61 Dempster Avenue in Evanston, IL. The 14,000 sq.ft. center is cotenanted by Jiffy Lube, Rose Towing and Extreme Cycle Shop. The company acquired 68,934 sq.ft. of the 431,947 sq.ft. Chesterfield Crossing Shopping Center in Richmond, VA for $11.6 million. The center is anchored by a 219,000 sq.ft. Wal*Mart and a 132,000 sq.ft. Home Depot.

For more information, contact Rick Fox, Inland, Inc., 2910 Butterfield Road, Oak Brook, IL 60523; 630-218-8000; Email: rfox@inlandgroup.com.