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Buyers & Sellers
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Buyers & Sellers NAI Horizon represented the buyer in the sale of 1.52 acres for a Checker Auto Parts at 1408 Third Avenue in Great Falls, MT. The seller, Meadowland Properties, Inc., was represented by Coldwell Banker Commercial in the transaction with a gross sale amount of $1.377 million. For more information, contact Ron Austin, NAI Horizon, 18346 Hawthorne Boulevard, Suite 211, Torrence, CA 90504; 310-214-3301, Fax 310-214-3308.
Edens & Avant Real Estate Services brokered the sale of Robbins Town Centre in Robbins, NC. The center is anchored by Lowe’s Foods store and is tenanted by Dollar General, Check-Into-Cash and China House Restaurant. For more information, contact Philip White, Edens & Avant Real Estate Services, 900 Bank of America Plaza, 1901 Main Street, Columbia, SC 29207; 803-779-4420, Fax 803-765-0684; Web site: www.earealestateservices.com.
Upland Real Estate Group, Inc. sold a 14,259 sq.ft. Walgreens drugstore located in Fort Morgan, CO for $5.4 million. For more information, contact Brier E. Swing, Upland Real Estate Group, Inc., 250 Marquette Avenue, Suite 575, Minneapolis, MN 55401; 612-335-9366, Fax 612-376-4489; Email: brier@upland.com; Web site: www.upland.com.
Marcus & Millichap Real Estate Investment Brokerage is selling nine Applebee’s restaurants throughout IN and WA. The restaurants have 20-year NNN leases with 7.5% rent increases every five years. For more information, contact John Glass, Marcus & Millichap Real Estate Investment Brokerage, 750 Battery Street, Suite 500, San Francisco, CA 94111; 415-391-9280 Ext. 310.
Grubb & Ellis is selling Hamilton Plaza, a 207,100 sq.ft. center located in Hamilton, OH for $8.4 million with a Cap rate of 9.60%. The center is currently 82% occupied. There are two additional undeveloped parcels to the north and south of the center, as well as one undeveloped outlot. The center is currently anchored by Big Lots. For more information, contact Jeffrey E. Johnston, Grubb & Ellis/West Shell Commercial, 221 East 4th Street, Suite 2400, Cincinnati, OH 45202; 513-721-4200, Fax 513-721-0630; Web site: www.westshellcom.com.
Breslin Realty Development Corp. sold approximately one acre of land at 8 Carlton Avenue in Islip, NY to AutoZone. This will be AutoZone’s 12th store on Long Island. For more information, contact Kenneth A. Breslin, Breslin Realty Development Corp., 500 Old Country Road, Garden City, NY 11550; 516-741-7400 Ext. 229, Fax 516-741-5621.
Divaris Real Estate, Inc. sold a 7,000 sq.ft. Family Dollar store located at 3618 Jefferson Davis Highway in Richmond, VA. For more information, contact Brett Womack, Divaris Real Estate, 804-643-4700. Or contact, Divaris Real Estate, One Columbus Center, Suite 700, Virginia Beach, VA 23462; Web site: www.divaris.com.
Equity One, Inc. acquired The Market at BridgeMill, a 78,654 sq.ft. center located at the intersection of Bells Ferry Road and Sixes Road in Canton, GA for $14.1 million. The center is anchored by a 37,888 sq.ft. Publix supermarket, includes 40,766 sq.ft. of small shop space and is currently 94% leased. In connection with the acquisition, the company assumed a 7.94%, $9.6 million loan due May 2021. Area demographics include a population of 18,000 within three miles earning $90,000 as the average household income. The center is situated on a land area of 13.5 acres. For more information, contact Howard Sipzner, Equity One, Inc., 1696 NE Miami Garden Drive, North Miami Beach, FL 33179; 305-672-1234 or 305-947-1664, Fax 305-672-6606; Web site: www.equityone.net.
Inland Retail Real Estate Trust, Inc. acquired Kensington Place Shopping Center, a 70,624 sq.ft. center located at 1761 South Rutherford Boulevard in Murfreesboro, TN for $6.8 million from Kensington Place MT, LLC. The center is anchored by BI-LO supermarket and is tenanted by Hallmark, HobbyTown USA, Mail Boxes Etc., Great Clips for Hair and Papa John’s Pizza. The company also recently acquired three New England properties, all including Super Stop & Shop supermarkets, worth a total of $66.2 million. The properties are located in West Springfield and Seekonk, MA and Manchester, CT. For more information, contact Rick Fox, Inland Retail Real Estate Trust, Inc., 2901 Butterfield Road, Oak Brook, IL 60523; 630-218-8000 Ext. 4896; Email: rfox@inland.com; Web site: www.inlandgroup.com.
Staubach Investment Sales Southwest sold Overton Park Plaza, a 350,000 sq.ft. center located at the intersection of SW Loop 820/Interstate 20 and South Hulen Street in Fort Worth, TX, to Weingarten Realty Investors. The center is tenanted by Mattress Giant, T.G.I. Friday’s, Albertsons, Famous Footwear, Olive Garden, Souper Salad, Office Depot, Circuit City, Oshman’s Sporting Goods and Chuck E. Cheese. For more information, contact Pamela Fleming, Staubach Investment Sales Southwest, 15601 Dallas Parkway, Suite 400, Addison, TX 75001; 972-361-5422; Email: Pamela.fleming@staubach.com.
Friedman Real Estate Group, Inc. sold a 40,656 sq.ft. outlot located at the intersection of Baldwin and Maybee Roads in Orion Township, MI to Bank One for $800,000 as part of a 78,000 sq.ft. strip center development called Orion Village Crossing. For more information, contact David Lord, Friedman Real Estate Group, Inc., 34975 West Twelve Mile Road, Farmington Hills, MI 48331; 248-848-4174, Fax 248-848-4141; Email: david.lord@freg.com; Web site: www.friedmanrealestate.com.
CB Richard Ellis sold a 104,231 sq.ft. Big Kmart located in Cheyenne, WY. The company also is selling a land area of 10 acres at the intersection of Wheeler Drive and Harlem Avenue in Orland Park, IL for $4.95 million. Area demographics include a population of 188,970 within five miles earning $68,251 as the average household income. For more information, contact Gregory M. Dalton, CB Richard Ellis, 1512 Eureka Road, Suite 100, Roseville, CA 95661-3040; 916-781-4816, Fax 916-781-4870; Email: greg.dalton@cbre.com. For more information regarding the property in Orland Park, IL, contact Lynne Brackett, CB Richard Ellis, 700 Commerce Drive, Suite 550, Oak Brook, IL 60523; 630-573-7000, Fax 630-573-7018.
Steven D. Bell & Co. announced that one of its investment groups acquired the Palms Plaza Shopping Center located in Boca Raton, FL for $15 million. The 70,000 sq.ft. center is 100% leased, anchored by Publix and is tenanted by Party City, Washington Mutual Bank and The Olive Garden. For more information, contact Ed Harrington, Steven D. Bell & Co., 823 North Elm Street, Suite 200, Greensboro, NC 27401; 336-272-7196.
Lynch Realty Group is selling a 2,864 sq.ft. Dunkin’ Donuts/Baskin Robbins store located in southeast WI for $1.4 million. The building is situated on a land area of 54,000 sq.ft. The initial NNN lease term is for 20 years with options. For more information, contact Kevin P. Lynch, Lynch Realty Group, LLC, 4900 First Avenue, McCook IL 60525; 847-778-2144, Fax 312-642-6790; Email klynch@lynchrealtygroup.com.
Osborne Properties represented HEB in the acquisition of the 208,000 sq.ft. Crosstowne Shopping Center located at 4807 West Commerce in San Antonio, TX. The company represented HEB in the acquisition of the 450,000 sq.ft. McCreless Mall located at the intersection of Interstate 37 and South New Braunfels Avenue in San Antonio, TX. For more information, contact Osborne Properties, 1821 Deer Trail, Floresville, TX 78114; 830-216-0344, Fax 830-216-3646; Email: op@texas.net.
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