Beach Investment Co. is selling a pad site located at 7200 Block Highway 64 in Memphis, TN. The pad site is approved for 2,800 sq.ft. to 6,500 sq.ft. with a drive-thru. The site is in front of a 36,500 sq.ft. fully-leased center and is opposite a convenience store. The company will build-to-suit, but prefers an outright sale. The sales price is $405,000 without plans and permit and $435,000 with plans and permit. The owner will build-to-suit with a credit tenant and 10-year lease.

For more information, contact F. Ford Beach, Beach Investment Co., PO Box 242102, Memphis, TN 38124-2102; 901-324-3700, Fax 901-888-6008.

The Rouse Co. is selling six malls throughout southern NJ, including Cherry Hill, Echelon, The Gallery, Christiana, Plymouth Meeting and Moorestown Mall, to Pennsylvania Real Estate Investment Trust, a Philadelphia, PA-based owner of shopping centers and apartment buildings. PREIT plans on upgrading the properties and bringing in new stores.

For more information, contact The Rouse Co., 10275 Little Patuxent Parkway, Columbia, MD 21044; 410-992-6546, Fax 410-992-6363; Web site: www.therousecompany.com.

Phase One Realty, Inc. is selling an Eckerd drugstore in Houston, TX for $3,337,900 with a Cap rate of 9%. The store has existing debt of $2.254 million and has an annual NNN income of $300,409, as well as annual debt service of $230,856. The store has an absolute NNN lease. The company also is selling the following two Walgreens in OH with 25-year base terms with absolute NNN leases: a 14,490 sq.ft. store situated on land area of 1.5 acres in Massilon for $4.467 million with a Cap rate of 7.5% and a 14,560 sq.ft. store situated on a land area of 2.1 acres in Findlay for $4 million with a Cap rate of 7.5%.

Madison Retail Group, Inc. is looking to acquire neighborhood and community strip centers of 40,000 sq.ft. of more east of the Mississippi River. The company will be more flexible in the Mid-Atlantic states and prefers national or regional credit tenant-anchored centers with occupancy rates between 65% and 85%. The company also will consider undeveloped outparcels and/or vacant land for expansion and will consider ground-up development or vacant/low occupancy centers needing redevelopment.

Colliers Dow & Condon is selling a six-screen theater at the site of a former Hoyt’s Cinema, located in Windham County, CT for $895,000. The site has a 10-year lease expiring during May 2012.

CB Richard Ellis sold a 91,479 sq.ft. freestanding Kmart located in Las Cruces, NM.

Jaylon, Inc. is looking to acquire retail centers throughout AZ, CO, FL, IL and NV for a price between $500,000 to $10 million.

Retail Rep is selling retail/office space situated on a land area of 2.06 acres in New Bern, NC for $750,000. Area retail includes Food Lion, Harris Teeter, Kroger, Kmart, a planned Wal*Mart Supercenter and a planned Food Lion.

Staubach Retail Services is marketing a 12,000 sq.ft. CVS pharmacy located at the intersection of Commerce Avenue and Route 82 in Union, NJ. The site has a Cap rate of 7.5% and rental increases during the primary term.

Coldwell Banker Commercial is selling a 48,000 sq.ft. shopping center in Freeport, IL for $3 million with a Cap rate of 9%. The center is situated on a land area of four acres, plus a one-acre outlot. Area retail includes Wal*Mart, Kmart, JCPenney, Shopko, Staples and Farm & Fleet. The center is 96% leased.

Colliers Turley Martin Tucker is selling Hills Plaza, an 80,519 sq.ft. center located in New Castle, IN for $1.6 million. The center is situated on a land area of 7.08 acres and has an average daily traffic count of 32,000 vehicles. Area retail includes Kroger, CVS, Dollar Tree, Goody’s, Kay Bee Toys and Jo-Ann Fabrics.

Horn Capital Realty is representing 1031 clients looking to acquire the following: Office Depot and Staples stores with ground leases anywhere in the U.S. The client has $9 million in cash; fast food restaurants and Staples stores in CT and FL only. The client has $2.6 million in cash; fast food restaurants and drug stores with no ground leases. The client has $600,000 in cash and prefers no franchises; and a client with $6 million looking to acquire fast food restaurants with a minimum Cap rate of 8.5% in FL only.

The Boulder Group is selling a Best Buy in Bethel Park, PA for $9.43 million with a Cap rate of 7.9%. The company also is selling a White Castle in Waterford, MI for $570,000 with a Cap rate of 8.25%.

Weingarten Realty Investors acquired Rancho San Marcos Village, a 121,000 sq.ft. center located at the intersection of Rancho San Marcos Boulevard and Rancho Santa Fe Road in San Marcos, CA. The center is anchored by Von’s and 24-Hour Fitness. The property was acquired from Terrace Partners, L.P. for $42.8 million. The center is currently 94% occupied.

Arroyo & Coates is selling a Walgreens located at 2105 East Wellesley Avenue in Spokane, WA for $5.1 million with a Cap rate of 7.25%. The 15,120 sq.ft. store is situated on a land area of 1.76 acres. The NNN lease has eight five-year options. The buyer requires $2.1 million in cash.

For more information, contact Paul Souza, Arroyo & Coates, 500 Washington Street, Suite 700, San Francisco, CA 94111; 415-445-7800 Ext. 184, Fax 415-677-0967; Email: psouza@a-c.com.