Buyers & Sellers
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Buyers & Sellers

Inland Retail Real Estate Trust, Inc. has acquired a majority stake position in Birkdale Village, a 52-acre, mixed-use development consisting of 234,921 sq.ft. of retail space, 52,202 sq.ft. of office space and 320 apartment units in Huntersville, NC from Birkdale Village, LLC. Tenants include Williams-Sonoma, Barnes & Noble, Dick’s Sporting Goods, Victoria’s Secret, Talbots, Ann Taylor, Starbucks, Banana Republic, American Eagle, Bombay Company and Cold Stone Creamery.

For more information, contact Rick Fox, Inland Retail Real Estate Trust, Inc., 2901 Butterfield Road, Oak Brook, IL 60523; 630-218-8800 Ext. 4896; Web site: www.inlandgroup.com.

Marcus & Millichap Real Estate Investment Brokerage Co. is selling a five-property retail portfolio that has an aggregate value of $16.42 million and a Cap rate of 10.4%. The five properties included in the portfolio are: South Trails Shopping Center, a 141,930 sq.ft. center located in Mexico, MO. The center is currently 96% occupied and is anchored by Wal*Mart; The Kirksville Shopping Center, a 131,844 sq.ft. center located in Kirksville, MO; The Linn Center, a 42,895 sq.ft., three-tenant center located in Brookfield, MO; Twin Pike, a 75,129 sq.ft. center located in Louisiana, MO, anchored by Wal*Mart and Kroger supermarket; The Hy Plains Center, an 85,029 sq.ft. center anchored by Wal*Mart Supercenter in Dodge City, KS.

For more information, contact Marcus & Millichap Real Estate Investment Brokerage Co., 101 West Ohio Street, Suite 1550, Indianapolis, IN 46204; 317-955-2600, Fax 317-955-0091; Web site: www.marcusmillichap.com.

The Stan Johnson Co. is selling a Burger King in Dallas, TX for $1.39 million with 18 years remaining on a 20-year NNN lease. The lease has four and five-year options. The site is situated on a land area of 0.7792 acres.

For more information, contact Gill Warner, The Stan Johnson Co., 8801 South Yale Avenue, Suite 330, Tulsa, OK 74137; 918-494-2690, Fax 918-494-2692; Web site: www.stanjohnsonco.com.

NNN1031.com is selling a 14,560 sq.ft. Walgreens located at the intersection of Pioneer Parkway and Belt Line in Grand Prairie, TX for $5,284,741 with a Cap rate of 6.75%. The site is situated on a land area of 81,307 sq.ft. The lease is NNN with 10 five-year options.

For more information, contact Jay Bastian, NNN1031.com, 450 South Orange Avenue, Suite 900, Orlando, FL 32801; 407-650-1144, Fax 407-650-1046; Email: jay_bastian@nnn1031.com; Web site: www.nnn1031.com.

Maestas & Ward Commercial Real Estate is selling vacant land located at the intersection of Cottonwood Park and Cottonwood Drive in Albuquerque, NM for $556,000. Area retail includes La-Z-Boy Furniture Gallery, Wal*Mart Supercenter, Home Depot, Staples, PetsMart, Keva Juice, Avenue, Starbucks and Party City. The site has an average daily traffic count of 96,100 vehicles. Area demographics include a population of 120,561 within five miles earning $63,858 as the average household income.

For more information, contact Peter Pineda or Jay Rembe, Maestas & Ward Commercial Real Estate, 7620 Jefferson NE, Albuquerque, NM 87109; 505-998-1579; Email: peter@maestasandward.com; Web site: www.maestasandward.com.

Faris Lee Investments is selling Coronado Plaza, a 51,000 sq.ft. center located at 1300 Orange Avenue in San Diego, CA for $16.5 million and a Cap rate of 7.4%. Area demographics include a trade-area population earning $101,890 as the average household income. The center is tenanted by Wendy’s, Domino’s Pizza, Coldwell Banker, Airtouch Cellular, La Salsa, Subway and Marie Callendar’s. The buyer will assume the existing loan at 6.9% interest with an amortization of 25 years. The center is adjacent to the Hotel Del Coronado. The company also is selling Foothill & Towne Center, a 25,696 sq.ft. center located at the intersection of Foothill Boulevard and Towne Avenue in Pomona, CA for $1.245 million. The center is 100% leased and has a pad building fronting Staples and Sav-On. The buyer may obtain a new loan at approximately 6% interest with an amortization of 30 years. Area demographics include a population of 121,915 within three miles earning $67,151 as the average household income. The site has an average daily traffic count of 42,000 vehicles. The company also is selling Loma Linda Shopping Center, a center located at 351-499 West Mariposa Road in Nogales, AZ for $10.485 million with a Cap rate ranging from 8.9% to 10.5%. The buyer will assume the existing loan currently at 7.20% fixed interest with an amortization of 30 years. The center is tenanted by Safeway, Walgreens, Factory 2-U, Payless Shoe Source and Radio Shack.

For more information, contact Faris Lee Investments, 2301 Dupont Drive, Suite 100, Irvine, CA 92612; 949-221-1800, Fax 949-221-1830; Email: info@farislee.com; Web site: www.farislee.com.

Breslin Realty Development Corp. is selling two sites located at the intersection of Montauk Highway and James Hawkins Road in Center Moriches, NY with an average daily traffic count of 18,000 vehicles. The sites range in size from 20 acres to 22 acres. Area demographics include a population of 91,597 within five miles earning $65,630 as the average household income. The company also is selling a 20-acre site located on Route 208 at Exit 5 off Interstate 84 in Montgomery, NY. Build-to-suits or ground leases are available. Area demographics include a population of 202,749 within five miles earning $57,800 as the average household income. The company also is selling a 131,000 sq.ft. parcel located on Jericho Turnpike in East Northport, NY with an average daily traffic count of 30,000 vehicles. The site is anchored by Best Buy and Stop & Shop.

For more information, contact John Culmone, Breslin Realty Development Corp., 500 Old Country Road, Garden City, NY 11530; 516-741-7400 Ext. 251, Fax 516-741-5621.