|
Buyers & Sellers
|
|
|
Buyers & Sellers Inland Retail Real Estate Trust, Inc. has added the following nine retail properties to its portfolio: Presidential Commons Shopping Center, a 372,149 sq.ft. center located in Snellville, GA for $45 million; River Ridge Shopping Center, a 162,062 sq.ft. center located in Birmingham, AL for $29.64 million; Village Square at Golf Shopping Center, a 134,894 sq.ft. center located in Boynton Beach, FL for $18.51 million; City Crossing Shopping Center, a 186,033 sq.ft. center located in Warner Robins, GA for $18.31 million; Southlake Shopping Center, a 131,247 sq.ft. center located in Cornelius, NC for $13.6 million; Goldenrod Groves Shopping Center, a 108,944 sq.ft. center located Orlando, FL for $9.15 million; Comp USA Center, a 47,104 sq.ft. center located in Newport News, VA for $7.30 million; South Hampton Village, a 77,900 sq.ft. center located in Tyrone, GA for $10.5 million and The Shoppes at Golden Acres, a 76,371 sq.ft. center located in Port Richey, FL for $10.22 million. Fameco Real Estate brokered the sale of Colonial Commons Shopping Center, a 438,500 sq.ft. center located in Harrisburg, PA. The total value of the transaction was approximately $28 million. The buyer was an affiliate of Freedman & Co., LLC and the seller was Ronus Properties of Atlanta, GA. For more information, contact Jeremy Fogel, Fameco Real Estate, 15 East Ridge Pike, Suite 100, Conshohocken, PA 19428; 610-834-8000, Fax 610-834-1793; Email: info@famecoretail.com; Web site: www.famecoretail.com. CB Richard Ellis, Inc. arranged the sale of River Bridge Centre, a 223,335 sq.ft. center located in West Palm Beach, FL for $25 million. The center is situated on a land area of 32 acres and is anchored by a Publix supermarket and Walgreens. For more information, contact A. Richard Tarquinio, CB Richard Ellis, 777 Brickell Avenue, Suite 1000, Miami, FL 33131; 305-381-6410, Fax 305-381-6462; Web site: www.cbre.com. Cohen & Co., Inc. sold The Shops at Bay Street, a 15,725 sq.ft. neighborhood shopping center in Staten Island, NY. The company exclusively represented the seller, Forest City Ratner Cos. Bay Street, New York, LP. The center is occupied by four tenants, including a 10,125 sq.ft. CVS, a 2,505 sq.ft. Dunkin’ Donuts, a 1,800 sq.ft. Subway and a 1,292 sq.ft. Century 21 Nail Salon. The center is located directly at the first exit in Staten Island off the Verrazano Narrows Bridge. For more information, contact Helen Putterman or Henry Feuerstein, Cohen & Co., Inc., 11 East 44th Street, New York, NY 10017; 212-679-5776 for Putterman and 212-803-5781 for Feuerstein, Fax 212-679-1533; Emails: putterman@cohenco.com and feuerstein@cohenco.com; Web site: www.cohenco.com. Grubb & Ellis was exclusively retained to sell Ridge Plaza, a supermarket-anchored center located in Jefferson Township, NJ. The 115,000 sq.ft. center is situated on a land area of 15.85 acres and is 75% leased to a traditional mix of neighborhood center tenants, including A&P, CVS, McDonald’s, Blockbuster Video and Subway.For more information, contact Matthew Schnurr, 155 Passaic Avenue, Fairfield, NJ 07004; 973-486-2514, Fax 973-486-2501; Email: matt.schnurr@grubb-ellis.com. Marcus & Millichap Real Estate Investment Brokerage Co. sold Payless Plaza, an 8,040 sq.ft. center located at 249 Glenside Avenue in Holmes, PA for $900,000. The strip center is 100% leased. The company arranged the sale on behalf of the seller, R&O Real Estate Partnership and secured the buyer, Meyer & Meyer, as well. The company is also selling a 140,000 sq.ft. center located at 1799 Burlington/Mt. Holly Road in Burlington County, NJ for $5.4 million. Area retail includes Kmart, Wal*Mart, Toys "R" Us, Target, Home Depot and the Burlington Mall For more information reguarding the Holmes, PA site, contact Jeffrey Algatt, Marcus & Millichap Real Estate Investment Brokerage Co., 1628 JFK Boulevard, Suite 1200, Philadelphia, PA 19103; 215-557-0900, Fax 215-557-0966; For more information reguarding the Burlington, NJ site, contact Richard Tola, Marcus & Millichap, 270 Madison Avenue, 19th Floor, New York, NY 10016. Web site: www.marcusmillichap.com. Ramco-Gershenson Properties Trust acquired its institutional partner’s 75% equity interest in East Town Plaza shopping center in Madison, WI. The 342,000 sq.ft. center is anchored by ShopKo, Burlington Coat Factory, Borders, Marshalls and Jo-Ann Fabrics. The center is located at the intersection of Zeier Road and East Springs and is across the street from East Towne Mall. For more information, contact Ramco-Gershenson Properties Trust, 27600 Northwestern Highway, Suite 200, Southfield, MI 48034; 248-350-9900, Fax 248-350-9925. Pennsylvania Real Estate Investment Trust is looking to acquire anchored regional malls of 500,000 sq.ft. or more with sales of $300 psf, with a focus on the East Coast. The company prefers a trade area population of 300,000. For more information, contact Pennsylvania Real Estate Investment Trust, 200 South Broad Street, 3rd Floor, Philadelphia, PA 19102; 215-875-0700, Fax 215-546-7311; Email: dobbinsc@preit.com. Mid-America Real Estate Corp. represented Armour Management in the sale of Midway Square, a 55,574 sq.ft. center located at the intersection of 51st and Pulaski in Chicago, IL to Learsi and Co. The center is tenanted by Dress Barn, Firestone Tire, Footlocker, Coconuts and Dollar Bill’s. The company also handled the disposition of Wind Point Center located at the intersection of Randall and McKee Roads in Batavia, IL. The site was sold by JP Morgan/Fleming to Kimco Realty. The 272,416 sq.ft. center is anchored by Kohl’s, Hobby Lobby and Linens ‘n Things and is tenanted by Zany Brainy, Petland and Party City. The company also handled the disposition of Rapids Mall located at the intersection of West Grand Avenue and Riverview Expressway in Wisconsin Rapids, WI. The company represented the seller, Citigroup/Travelers, in the sale to Sheldon Ferkey.For more information, contact Mid-America Real Estate Corp., Two Mid-America Plaza, Third Floor, Oakbrook Terrace, IL 60181; 630-954-7300. Steven D. Bell & Co. acquired the 720,710 sq.ft. Henry Town Center for approximately $50 million from Sembler Co. The center is anchored by Super Target, Home Depot and Belk. The actual retail property acquired consists of approximately 440,000 sq.ft., hosting tenants such as BJ’s Wholesale Club, Ross Dress for Less, Marshalls, Staples, Michaels and Bed Bath & Beyond. The center is located at the intersection of Interstate 75 and Jonesboro Road.For more information, contact Ed Harrington, Steven D. Bell & Co., 823 North Elm Street, Suite 200, Greensboro, NC 27401; 336-272-7196. NewBridge Retail Advisors served as advisor in the sale of Retreat Village by Amerishop Retreat LLC to Retreat Village Management Co. The 108,244 sq.ft. center is anchored by Winn-Dixie and is located at the intersection of Demere Road and Frederica Road in Atlanta, GA. For more information, contact Gary Saykaly or Lynn Leonard, NewBridge Retail Advisors, Inc., Royal Centre One, 11675 Great Oaks Way, Suite 135, Alpharetta, GA 30022; 678-802-6500, Fax 678-802-6588. Sperry Van Ness is selling Bristol Farms Plaza, a 149,884 sq.ft. center located at 1235 Farmington Avenue in Bristol, CT for $10 million with a Cap rate of 10.35%. The center is 89% occupied, situated on a land area of 12.48 acres and is anchored by a 33,353 sq.ft. Sears Hardware, a 45,058 sq.ft. Big Lots, a 23,120 sq.ft. Marshalls and a 10,000 sq.ft. Jo-Ann Fabrics. For more information, contact Joseph C. French Jr., Sperry Van Ness, 50 Main Street, White Plains, NY 10606; 914-682-6868, Fax 914-682-6867; Email: frenchj@svn.com; Web site: www.svn.com. Colliers International is selling The Fountains, an 82,805 sq.ft. center located in Pinellas County, FL. The center is situated on a land area of 9.35 acres. For more information, contact Michael Milano, Colliers International, 102 West Whiting Street, Suite 300, Tampa, FL 33602; 813-221-2290, Fax 813-224-9403; Email: mmilano@colliersarnold.com; Web site: www.colliersarnold.com.
|