Buyers & Sellers
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Buyers & Sellers

Acadia Realty Trust acquired three supermarket-anchored centers in OH for $26.7 million. The centers have GLAs totaling 325,000 sq.ft. Two of the shopping centers are located in Cleveland and are anchored by Giant Eagle. The third shopping center is located in Columbus, and is anchored by Big Bear supermarket.

For more information, contact Jon Grisham, Acadia Realty Trust, 20 Soundview Marketplace, Port Washington, NY 11050; 516-767-8830.

Lamar Properties is selling the following shopping centers: Cross Pointe Shopping Center is located on Alexandersville-Bellbrook Road in Dayton, OH. The 217,000 sq.ft. center is anchored by Marshalls, Outback Steakhouse, Sears Hardware and Stitching Post. The asking price is $21.5 million; Elmwood Plaza is located on Durand Avenue in Racine, WI. The 343,000 sq.ft. center is anchored by Racine Produce, Hancock Fabrics, Furniture Clearance Center and Checker Auto. The asking price is $6.875 million; Morse Center is located on Morse Road in Columbus, OH. The 243,000 sq.ft. center is anchored by Big Lots, Guitar Center, D.E. Jones, Dollar General, Dollar Tree, Goodwill and Gillie Rec. Center. The asking price is $12.24 million; Lakewood Plaza is located at the intersection of Highway 249 and Louetta Road in Houston, TX. The 95,222 sq.ft. center is anchored by H.E.B. Pantry, Kentucky Fried Chicken, McDonald’s, Movie Gallery, Radio Shack and Subway. The asking price is $10.49 million; Deerbrook Plaza is located at the intersection of Highway 59 and FM 1960 in Humble, TX. The 216,737 sq.ft. center is anchored by Ross ‘Dress for Less’, Outback Steakhouse, Academy Sports, Dollar Tree, Tuesday Morning, Factory 2-U and Half Price Books. The asking price is $19.85 million; Singleton Square is located at Singleton Road in Norcross, GA. The 130,225 sq.ft. center is anchored by Kroger, Dollar Tree, Pet Supermarket, Don Olson Total Car Care, Hollywood Video and Tutor Time. The asking price is $12.5 million.

For more information on Cross Pointe Shopping Center, contact Jeff Johnston, West Shell Commercial, 221 East 4th Street, Suite 2400, Cincinnati, OH 45202; 513-721-4200; on Elmwood Plaza, contact Patrick Gallagher, Siegel-Gallagher, Inc., 700 North Walter Street, Suite 400, Milwaukee, WI 53202; 414-225-9700; on Morse Center, contact John May, May Center Advisors, 700 Commerce Drive, 5th Floor, Oak Brook, IL 60523; 630-288-2600; on Singleton Square, contact Ralph Pugliano, Lamar Co., 365 South Street, Morristown, NJ 07960; 973-285-0660 and for Deerbrook Plaza or Lakewood Plaza, contact George Cushing, Grubb & Ellis, 1330 Post Oak Boulevard, Suite 1400, Houston, TX 77056; 713-599-5165.

KinderCare purchased 55,000 sq.ft. of land for a child care center in Chula Vista, CA for $666,000. The center will be located within the East Lake Village Center East Property. Flocke & Avoyer brokered the transaction.

For more information, contact Mike Seiber, Flocke & Avoyer Commercial Real Estate, 3131 Camino Del Rio North, Suite 190, San Diego, CA 92108; 619-280-2600; Fax 619-280-3311; Web site: www.flockeavoyer.com.

NAI ISAAC sold a 6,400 sq.ft. center on Nicholasville Road in Lexington, KY for $1.195 million. The site is located at 1915-1919 Nicholasville Road and is fully leased by Voice Stream and El Toro Mexican Restaurant Cantina & Grill.

For more information, contact Dawn Bryant, NAI Isaac Commercial Properties, Inc., 771 Corporate Drive, Suite 300, Lexington, KY 40503; 859-224-2000, Fax 859-224-0848; Email: dawnbryant@naiisaac.com; Web site: www.naiisaac.com.

Mid-America Real Estate Corp. brokered the following transactions: the acquistion of a 15,120 sq.ft. Walgreens at the intersection of Albany Avenue and Mill Street in Amityville, NY for $5.205 million; the purchase of a 5,780 sq.ft. Baker’s Square Restaurant at 14651 South LaGrange Road in Orland Park, IL for $2.367 million and the sale of a 15,120 sq.ft. Walgreens at the intersection of Central and Andover in Andover, KS for $3.510 million.

For more information, contact Mid-America Real Estate Corp., Two Mid-America Plaza, Third Floor, Oakbrook Terrace, IL 60181; 630-954-7300.

David G. White & Associates, Inc. is selling the following sites: a 23-acre parcel on Paine Turnpike near Wal*Mart in Berlin, VT. The site is located at the intersection of Route 62 and Paine Turnpike and near the Shaw’s/Staples Plaza. The asking price is $2.2 million; an 8.36-acre development site adjacent to the Berlin Mall on Fisher Road in Berlin, VT. The asking price is $425,000 and a three-acre site in Bennington, VT is for sale at an asking price of $900,000. The site is located at the intersection of Route US 7 and Route 7A next to Aldi supermarket with a daily traffic count of 15,300 vehicles.

For more information, contact Tim Burke, David G. White & Associates, Inc., PO Box 1007, Burlington, VT 05402; 802-862-1225.

Coldwell Banker Success Realty is looking to acquire an upscale supermarket-anchored center in Phoenix, AZ.

For more information, contact Bob Myers, Coldwell Banker Success Realty, Sun City, AZ 85372; 888-843-4800; Fax 623-933-0009; Email: bob@bobmyers.com; Web site: www.bobmeyers.com.

Marcus & Millichap National Retail Group is selling Harvey’s Grocery Store, a 28,188 sq.ft. supermarket on East Parker Street in Baxley, GA. The asking price is $1 million with a Cap rate of 10%. There are seven years remaining on the lease.

For more information, contact Bill Madson, Marcus & Millichap National Retail Group, 1200 Abernathy Road, Suite 650, Atlanta, GA 30328; 678-942-4628; Email: wmadson@marcusmillichap.com.

Inland Retail Real Estate Trust, Inc. acquired 68,934 sq.ft. of the 431,947 sq.ft. Chesterfield Crossing Shopping Center in Richmond, VA for $11.6 million. The shopping center is anchored by a 219,000 sq.ft. Wal*Mart and a 132,000 sq.ft. Home Depot. The center is cotenanted by PetsMart, Ben Franklin Crafts, Fashion Bug, Payless ShoeSource and Radio Shack.

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; Web site: www.inlandgroup.com.

Developers Diversified Realty and Coventry Real Estate Partners acquired five properties from Lehman Brothers for $81.65 million. The properties include Fossil Creek in Fort Worth, TX; Lakepointe Crossing in Dallas, TX; Harbison Court in Columbia, SC; Riverchase Promenade in Birmingham, AL and Eastgate Plaza in Wichita, KS.

For more information, contact Michelle A. Mahue, Developers Diversified Realty, 3300 Enterprise Parkway, Cleveland, OH 44122; 216-755-5500, Fax 216-755-1455.

Prime Retail, Inc. sold six outlet centers for $118.7 million to wholly-owned affiliates of PFP Venture, LLC. The outlet centers are located in Anderson, CA; Calhoun, GA, Gaffney, SC; Latham, NY; Lee, MA and Lodi, OH and have a total GLA of 1.3 million sq.ft.

For more information, contact Robert A. Brvenik or Steven A. Sless, Prime Retail, Inc., 100 East Pratt Street, Baltimore, MD 21202; 410-234-1750 (Robert), 410-234-8333 (Steven).

Woolbright Development, Inc. acquired Crossroads at Northlake for $7 million from Massachusetts Mutual Life Insurance Co. The center is located at the intersection of Interstate 95 and Northlake Boulevard in Palm Beach Gardens, FL and is anchored by Home Depot. Ross ‘Dress for Less’ and Off Main Furniture are expected to open in the center next year.

For more information, contact Mike Fimiani, Woolbright Development, Inc., 4800 North Federal Highway, Suite 108D, Boca Raton, FL 33431; 561-393-8865, Fax 561-393-6655; Email: mfimiani@woolbright.net.