Buyers & Sellers
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Buyers & Sellers

Janovetz Realty Advisors is selling a Walgreens in Louisville, CO for $4,827, 586 with a Cap rate of 7.25%. The rent is $350,000 per year. The 14,490 sq.ft. freestanding building has 10 five-year options. Demographics include a population of 89,943 within five miles earning $61,454 as the average household income. The site has a daily traffic count of 35,000 vehicles.

For more information, contact James A. Janovetz, Janovetz Realty Advisors, 6 East Yacht Drive, Oak Island, NC 28465; 910-278-9932, Fax 910-278-9951; Email: janovetz@bellsouth.net; Web site: www.janovetzrealtyadvisors.com.

National Net Lease Realty is representing a client seeking to acquire one to three deals. The client prefers to acquire CVS sites, but is also interested in Eckerd. The client is seeking sites nationwide and prefers all cash deals, however will also assume financing if the cash flow is decent. Other BBB+ or better tenants are of interest if in the $2.5 million to $4 million price range.

For more information, contact Terry Marks, National Net Lease Realty, 4729 Libbit Avenue, Encino, CA 91436; 818-905-5597, Fax 818-905-5596; Email: info@terrymarks.com; Web site: www.terrymarks.com.

Wissman Commercial Real Estate is representing two buyers. The first is seeking a class "A" retail property for $7 to $10 million. The client is willing to pay market and is not interested in drug stores. The second client prefers in-fill locations, preferably below market rents and strong sales. The client will trade off current Cap rate for future upside and will consider a short-term below-market leases. The client also prefers locations west of the Rocky Mountains and will consider a small shopping center for $5 to $9 million.

For more information, contact Joe Wissman, Wissman Commercial Real Estate, 23439 Michigan Avenue, Suite 3W, Dearborn, MI 48124; 313-561-1900, Fax 313-561-1903; Email: propone@ix.netcom.com.

Net Leased Investment Co. is selling a freestanding Kash ‘n Karry supermarket in Orlando, FL for $6.945 million with a Cap rate of 8%. The original NN lease commenced in 1999.

For more information, contact Bob Fraser, Net Leased Investment Co., 103 Blue Creek Drive, Winter Springs, FL 32708; 407-977-2448, Fax 407-977-0775; Email: bobfraser@netleased.com; Web site: www.netleased.com.

Universal Properties Group is selling a NNN Denny’s Classic Diner. The restaurant is located on Interstate 95 in Coventry, RI. The restaurant is in the second year of a 20-year lease.

For more information, contact Robert J. Rapoza, Universal Properties Group, 207 Quaker Lane, Suite 300, West Warwick, RI 02983; 401-823-0741; Email: brapoza@universalpropertiesgrp.com.

NetUSrealestate.com is looking to acquire CVS locations in FL, LA, TN, TX and VA for all cash in the $1 to $1.5 million range.

For more information, contact Jennifer VanWilliams, NetUSrealestate.com, 4318 Downtowner Loop North, Suite E, Mobile, AL 36609; 251-344-2000, Fax 251-344-4144; Email: jenvan@netusrealestate.com; Web site: www.netusrealestate.com.

Kamin Co. is acquiring zero cash flow properties nationwide. The debt must liquidate over the primary lease term, preferably less than 20 years.

For more information, contact Howard Kadish, Kamin Co., 440 West Street, Fort Lee, NJ 07024; 201-242-4200, Fax 201-242-4205.

Commercial Real Estate Specialists, Inc. is selling the following properties: three convenience stores/gas stations on Interstate 55 in Scott City and Cape Girardeau, MO; a former 1,500 sq.ft. Sonic Drive-In in Perryville, MO near Interstate 55 in Perryville, MO for $275,000 and a 175,000 sq.ft. community shopping center in Poplar Bluff, MO for $3.5 million. The center is located on a land area of 18.5 acres and needs work and retenanting.

For more information, contact David J. Donley, Commercial Real Estate Specialists, Inc., 125 South Broadview, Suite 7, Cape Girardeau, MO 63703; 573-339-0488.

CBL & Associates acquired the 981,503 sq.ft. Westmoreland Mall and the 277,303 sq.ft. Westmoreland Crossing shopping center in Greensburg, PA for $112.8 million. Westmoreland Mall is anchored by JCPenney, Bon-Ton, Kaufmann’s and Sears. The mall is currently 89% occupied. Westmoreland Crossing is anchored by Carmike Cinema, Michaels Arts & Crafts, Shop N’ Save and T.J. Maxx. The center is 73% occupied.

For more information, contact CBL & Associates Properties, Inc., 6148 Lee Highway, Suite 30, Chattanooga, TN 37402; 423-855-0001.

Commercial Investment Real Estate is representing a client seeking to acquire anchored shopping centers with a minimum GLA of 100,000 sq.ft. nationwide.

For more information, contact Deborah Cook, Commercial Investment Real Estate, PO Box 1956, Wilmington, NC 28402; 910-470-4800, Fax 910-762-6568; Email: deb5ft2@aol.com, Web site: www.deborahcook.com.

Allardt Enterprises is selling Car-X Auto Centers in the following areas: eight stores in Chicago IL for $7.4 million; seven stores in Milwaukee, WI for $6.185 million and five stores in northern IN for $5.135 million. The 20-year fully net leases increase 1.75% each year.

For more information, contact Joe Allardt, Allardt Enterprises, 211 South Walnut Street, Muncie, IN 47305; 765-289-2600, Fax 765-288-8496; Email: joallardt@allardtenterprises.com.

Ram Development Co. acquired the 135,000 sq.ft. Village Plaza, located at the intersection of US Highway 98 and Sleepy Hill Road in Lakeland, FL. The shopping center is 95% occupied and is anchored by Circuit City, Staples and Factory Card Outlet.

For more information, contact Rhonda Barnes, Ram Development Co., 3399 Pga Boulevard, West Palm Beach, FL 33410; 561-630-6110.

Marcus & Millichap Real Estate Investment Brokerage Co. is marketing the Marketfair Mall in Fayetteville, NC. The property is priced at $16.5 million with a Cap rate of 9.4%. The mall is located at the intersection of Skibo Road and Morganstown Road. The property includes a GLA of 243,710 sq.ft. on a 23.38-acre parcel. The property is anchored by a 106,900 sq.ft. Sam’s Club and a 60,000 sq.ft. Carmike Cinema. Cotenants include Cato Fashion, Dress Barn and Burlington Shoes. The company is also marketing a BJ’s Wholesale Club-anchored shopping center in central FL. The property is priced at for $14,513,592 with a Cap rate of 7.8%. The shopping center’s total GLA is 116,815 sq.ft. on 10.41 acres. BJ’s has a 20-year lease with increases every five years and four five-year options.

For more information regarding the Marketfair Mall, contact Marc Strauss or Adam Tiktin, Marcus & Millichap, 5900 North Andrews Avenue, Suite 100, Fort Lauderdale, FL 33309; 954-463-2400, Fax 954-463-9222. For more information on BJ’s Wholesale Club, contact Al Taf, Marcus & Millichap, 1200 Abernathy Road, Northeast Building 600 Northpark Town Center, Suite 650, Atlanta, GA 30328; 678-942-4637, Fax 770-393-1738; Email: ataf@marcusmillichap.com.