Buyers & Sellers
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Buyers & Sellers

Horn Realty Capital, Inc. is looking to acquire Pizza Hut, KFC and Taco Bell restaurants with sales volumes of $750,000 or more; McDonalds, Burger King, Wendy’s and Arby’s restaurants with a sales volume of at least $1 million; Red Lobster, Chili’s, Denny’s, Oliver Garden and TGI Friday’s restaurants with a sales volume of $2 million or more or rent of $100,000 or less; supermarkets in the $5 psf range and a sales volume of more than $450,000 and industrial deals for $12 psf or less.

For more information, contact Jonathan S. Horn, Horn Realty Capital, 1108 Kane Concouse, Suite 201, Bay Harbor Islands, FL 33154; 305-864-2000, Fax 305-864-4240; Email: jsh@horncapial.com.

Spectrum Realty Advisors sold Lanier Plaza a 205,820 sq.ft. center in Brunswick, GA and International Farmers Market, a 73,000 sq.ft. supermarket located on 5495 Jimmy Carter Boulevard in Norcross, GA.

For more information, contact Joe Montgomery, Spectrum Realty Advisors, 5871 Glenridge Drive, Suite 400, Atlanta, GA 30328; 404-252-2288, Fax 404-252-8666.

Upland Real Estate Group, Inc. is representing a buyer who needs to replace $7 million or $13.5 million with a maximum down payment of 15%. The buyer prefers well-located single tenant, net leased investment grade properties and will look at retail, office and industrial. The company also is selling a Rite Aid drugstore in Greece, NY for $3,582,051 with a Cap rate of 9.75%. The store is located near Big Lots, Blockbuster Video, Chase Manhattan Bank, Carbone’s Pizza and Domino’s Pizza.

For more information, contact Keith A. Sturm, Upland Real Estate Group, Inc. 250 Marquette Avenue, Suite 575, Minneapolis, MN 55401; 888-655-1031, Fax 612-376-4489; Email: keith@upland.com, Web site: www.nnnsales.com.

Coastal Capital Partners, LLC acquired Hinesville Central Shopping Center, a 42,000 sq.ft. shopping center in Hinesville, GA. The center is anchored by Wal*Mart.

For more information, contact Charles W. Moore, Coastal Capital Partners, LLC, 881 Ponce de Leon Avenue, Suite 5, Atlanta, GA 30306; 404-815-4110, Fax 770-216-1679; Email: cmoore@coastalcapllc.com.

RJS Realty Group is selling a 172,938 sq.ft. Wal*Mart-anchored center in Orange Park, FL for $14.35 million with a Cap rate of 9.1%. The company also is selling a 54,888 sq.ft. Publix-anchored center in Kissimmee, FL for $6.25 million or $114 psf with a Cap rate of 9.1%. The center is 95% leased.

For more information, contact Bob Sullivan, RJS Realty Group, 222 Lakeview Avenue, Suite 500; West Palm Beach, FL 33401; 561-659-9771, Fax 561-659-9773; Email: bobsullivan@rjsrealty.com.

Colliers International is selling a 10,150 sq.ft. center in Bryan/College Station, TX for $1.69 million. The center is located near Wal*Mart Supercenter and Lowe’s Home Improvement and is 88% leased.

For more information, contact Christopher D.Winters, Colliers International, 1300 Post Oak Boulevard, Suite 225, Houston, TX 77056; 713-830-2106, Fax 713-986-4406.

Baywood Realty is selling a 10-acre development site in Kemah/League City, TX for $1.2 million. The property is located on Marina Bay Drive near Super Target, Home Depot and Super Wal*Mart.

For more information, contact Dan Dickens, Baywood Realty, 5500 Genoa Red Bluff Road, Pasadena, TX 77505; 281-998-9233.

Divaris Real Estate, Inc. sold the former Hechinger Building located at 2661 MacArthur Road in Whitehall, PA to Burlington Coat Factory Warehouse Corp.

For more information, contact Kim Soniak, Divaris Real Estate, Inc., 1 Columbus Center, Virginia Beach, VA 23462; 757-333-4342, Fax 757-497-1338.

Commercial Net Lease is selling an Eckerd drugstore in Dallas, TX for $3,864,836 with a Cap rate of 8.85%. Eckerd has a 20-year lease with four five-year options. The company also is selling an Eckerd located at the intersection of Belt Highway and Frederick Avenue in St. Joseph, MO. The asking price is $3,721,834 with a Cap rate of 8.94%.

For more information, contact Jennifer Ryan, Commercial Net Lease, 450 South Orange Avenue, Suite 900; 407-650-1077, Fax 407-650-1046; Web site: www.NNN1031.com.

CB Richard Ellis represented Ernst Investment California, LLC in the sale of a 1,860 sq.ft. building occupied by a Taco Bell franchisee. The building is located at 5385 Atlantic Avenue in Long Beach, CA.

For more information, contact Joseph Miller, CB Richard Ellis, Inc., 2125 East Katella Avenue, Suite 100, Anaheim, CA 92806; 714-939-2202, Fax 714-939-2270; Web site: www.cbre.com.

Capital Real Estate Group is looking to acquire properties ranging in value from $2 million to $6 million or up to $20 million. The company also is selling a Home Depot located at 12960 Foothill Boulevard in Sylmar, CA for $15,702,086 with a Cap rate of 7%. The building occupies a space of 114,423 sq.ft. and has a 24,700 sq.ft. garden center.

For more information, contact Bruce or Lynne Kusada, Capital Real Estate Group, 1977 West 190th Street, Suite 101, Torrance, CA 90504; 310-243-1890, Fax 310-243-1899.

McDaniel and Co. is selling a shopping center in Orangeburg, SC for $2 million with a Cap rate of 11%.

For more information, contact Bill McDaniel, McDaniel and Co., 446 Oak Grove Road, Spartanburg, SC 29301; 864-576-4660.

Retail Realty, LLC is representing a client who is looking to acquire a single tenant property between $2 million and $4 million. The buyer prefers locations in northern CA and OR.

For more information, contact Bernard L. Stockwell, Retail Realty, LLC, 233 Rouge River Highway, Grant Pass, OR 97527; 541-955-0866; 541-955-0148; Email: bstockwell@charter.net.

Arroyo & Coates is marketing a freestanding, net leased Raleys supermarket in Winnemucca, NV. The store occupies a space of 20,000 sq.ft. and the purchase price is $5.17 million with a Cap rate of 8.75%. The company also is marketing a 55,812 sq.ft. Hy-Vee supermarket located at 10118 West 119th Street in Overland Park, KS for $5.395 million with a Cap rate of 8.35%.

For more information, contact Paul Souza, Arroyo & Coates, 500 Washington Street, Suite 700, San Francisco, CA 94111; 415-445-7800.

Woolbright Development, Inc. aquired Tamiami Trail Shops for $12,725,000. The shopping center is located at the intersection of Tamiami Trail and southwest 137th Avenue in Miami, FL and is anchored by Publix and Eckerd.

For more information, contact Mike Fimiani, Woolbright Development, Inc., 4800 North Federal Highway, Suite 108 D, Boca Raton, FL 33431; 954-429-3844, Fax 954-427-8878; Email: mfimiani@woolbright.net.

Cushman & Wakefield is selling a tourist development site in Orlando, FL for $11.9 million. The site encompasses 19.5 acres and its 2001 daily traffic count was 35,206 vehicles. The company also is selling a 54-acre commercial development site at the intersection of US 192 and Partin Settlement Road in Kissimmee, FL for $6 million. The site has a daily traffic count of 51,528 vehicles.

For more information, contact Robert Barkett, Cushman & Wakefield, 111 North Orange Avenue, Suite 800, Orlando, FL 32816; 407-841-8000, Fax 407-425-6455; Email: robert_barkett@cushwake.com.

Blackwood Development Co. acquired Kempsville Marketplace and Salem Lakes Marketplace in Virginia Beach, VA. The shopping centers occupy a combined space of 111,000 sq.ft. Kempsville Marketplace is located at the intersection of Princess Anne Road and Baxter Road and is anchored by Farm Fresh Grocery Store. Salem Lakes Martketplace is anchored by a 39,000 sq.ft. Food Lion supermarket.

For more information, contact David Friedman or Marc Greenburg, Blackwood Development Co., 7400 Beaufont Springs Drive, Suite 301, Richmond, VA 23225; 804-320-0422.

WestVest Associates, Inc. is selling a shopping center in Miami, FL for $7.9 million. The center has a GLA of 44,000 sq.ft.

For more information, contact WestVest Associates, Inc., 2500 Northwest 79th Avenue, Suite 207, Miami, FL 33122; 305-717-5401.

GVA Lat Purser & Associates, Inc. is selling a Merchants Tire Store in Concord, NC. The asking price for the 6,500 sq.ft. building is $1.575 million with a Cap rate of 8.95%.

For more information, contact Ray Hayhurst, GVA Lat Purser & Associates, Inc., 605 Crescent Executive Court, Suite 300, Lake Mary, FL 32746; 407-585-2110, Fax 407-585-2113; Web site: www.latpurser.com.

United Realty is selling a 152,000 sq.ft. shopping center in FL for $14.76 million with a Cap rate of 10.5%. The center is adjacent to Publix, Winn-Dixie, Office Depot and Eckerds with a daily traffic count of 50,000 vehicles. The company also is selling a 130,000 sq.ft. home furniture center on the west coast for $27.5 million with a Cap rate of 8.6%.

For more information, contact United Realty, 200 Boardhollow Road, Melville, NY 11747; 631-421-1000, Fax 631-421-0680; Web site: www.unitedrealty.com.

Ashley/Karns/Baker Properties, Ltd. is looking to acquire up to $15 million of retail properties in TX. The company isn’t interested in development sites and single tenant leases, but prefers value added, including vacant properties. The minimum purchase price is $2.5 million.

For more information, contact Michael D. Karns, Karns Commercial Real Estate, Inc., 4300 North Central Expressway, Suite 211, Dallas, TX 75206; 214-826-5300, Fax 214-826-5880.

Bob Stuart Real Estate is representing an investment group that is looking to acquire properties nationwide. The group is purchasing office buildings, industrial facilities, malls and hotels. The minimum investment is $50 million with no real maximum.

For more information, contact Bob Stuart, Bob Stuart Real Estate, 130 Goldsworth Terrace Southwest, Leesburg, VA 20175; 703-669-8782.

NetUSrealestate is selling five Family Dollar stores in KY. Construction of the stores is expected to be completed by May 2003.

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

Dutter Realty.com sold the vacant commercial property located on Little Road in New Port Richey, FL to Realm Management, Inc. The 2.33-acre property is situated near a Wal*Mart Supercenter and will be primarily used as a franchise restaurant.

For more information, contact Dutter Realty.com, 2629 McCormick Drive, Clearwater, FL 33759; 727-723-1612, Fax 727-723-7873; Email: dutterealty@dutterealty.com; Web site: www.dutterealty.com.

Dalworth Properties, Inc. is representing a buyer looking to acquire a portion of a shopping center. The buyer will hold tenants in common ownership and wants cash in return for giving up part of its income stream.

For more information, contact Ed Tann, Dalworth Properties, Inc., 4320 Bellaire Drive, Suite 104, Fort Worth, TX 76109; 817-926-0119, Fax 817-926-2821; Web site: www.dalworthprop.com; Email: edtann1@charter.net.

Prince Realty, Inc. is representing a client with $1.7 million to $3 million seeking to acquire property in CA or NV.

For more information, contact Mark Rosenberg, Prince Realty, Inc., 2235 Park Towne Circle, Suite 100, Sacramento, CA 95825; 916-418-1031, Fax 916-418-1044.