Buyers & Sellers
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Buyers & Sellers


Bosshardt Realty Services, Inc. is selling a 3.2-acre site adjoining Sports Authority located at Interstate 75 and State Route 26 in Gainesville, FL. This site is approved for up to 22,500 sq.ft. and already has parking and retention in place. The location is across from a regional mall with a GLA in excess of 1,000,000 sq.ft. The property is available for sale at a price of $1.4 million and for lease at $125,000 per year or as a build-to-suit. The company also has a seven-acre retail site available located at the intersection of Archer Road and S.W. 34th Street in Gainesville, FL. The site can accommodate up to 90,000 sq.ft. The owner will divide. The asking price is $2.65 million.

For more information, contact Mike Ryals, Bosshardt Realty Services, Inc., 5542 NW 43rd Street, Gainesville, FL 32653; 352-371-6100, fax 352-240-3217; Email: mike@teamryals.com; Web site: www.teamryals.com.

 

Bob Bernhardt Associates is selling a 4,790 sq.ft. Blockbuster Video store located in Franklin, IN for $1,308,975 with a Cap rate of 8%. The store has a 10-year NNN lease with three, five-year options with increases. The store is located on a Wal*Mart pad. Area demographics include a population of 44,176 within one mile earning $56,465 as the average household income.

For more information, contact Michael Jenkins or Derek Federinko, Bob Bernhardt Associates, 108 East Mill Palin Boulevard, Vancouver, WA 98662; 360-699-4494.

Cushman & Wakefield of Georgia, Inc. is selling The Market at BridgeMill Shopping Center, a newly-constructed, Publix-anchored center located at 3760 Sixes Road in the Canton area of North Atlanta, GA. The investment includes the 66,028 sq.ft. center with a lease until 2020, as well as The Market at BridgeMill Shops, a 12,626 sq.ft. center located across the street from Publix and three outparcel ground leases with Wachovia (First Union), KFC/A&W and United Community Bank. The closest supermarket-anchored center is 4.4 miles northeast of the center and is anchored by a Bi-Lo. The asking price is $14.725 million with an 8.5% Cap rate.

For more information, contact Kris J. Cooper, Cushman & Wakefield of Georgia, Inc., 3300 One Atlantic Center, 1201 West Peachtree Street, Atlanta, GA 30309-3425; 404-875-1000, Fax 404-875-4637; Web site: www.cushwake.com.

Grubb & Ellis/Pfefferle is selling two retail centers in the Appleton, WI area. The asking prices range between $2 million and $3 million.

For more information, contact Ted Thomsen, Grubb & Ellis/Pfefferle, 14 Tri Park Way, Suite 2, Appleton, WI 54914; 920-738-4331; Email: tthomsen@pfefferle.biz.

Woodbury Capital Partners is looking to acquire several NNN Eckerd and/or Walgreens drug stores. The company prefers that Eckerd have a Cap rate near 9%, while Walgreens should be around 7.5%. Unleveraged properties are preferred.

For more information, contact Thomas Quasius, Woodbury Capital Partners, 7616 Currell Boulevard, Suite 200, Woodbury, MN 55125; 651-264-3110, Fax 651-264-3112; Web site: www.woodburycapital.com.

Sperry Van Ness represents buyers of NNN retail properties anywhere in the U.S. up to about $9 million. The site can be a combination of smaller properties and tenants must have decent credit with some term remaining on the lease.

For more information, contact Brad Cruickshank, Sperry Van Ness, 6115 Camp Bowie Boulevard, Suite 110, Fort Worth, TX 76137; 817-377-4672, Fax 817-377-4673.

Kimco Realty Corp. is looking to acquire neighborhood, community and power centers, as well as single-tenant sites in the amount of $1 million to $50 million with a holding period from one to 10 years.

For more information, contact John R. Greenwood or Fred Kurz, Kimco Realty Corp., 4979 Old Street Road, Trevose, PA 19053; 215-396-0972 or 215-396-7384, Fax 215-322-8040; Emails: jgreenwood@kimcorealty.com and fkurz@kimcorealty.com; Web site: www.kimcorealty.com.

Marcus & Millichap Real Estate Investment Brokerage Co. sold the Center at Shangri-La for $11.35 million with a 9.1% Cap rate. The center is located at 18635 Soledad Canyon in Santa Clarita, CA. The center is tenanted by Verizon Wireless, Domino’s Pizza, Beneficial California, AOL Time Warner, IHOP, Wendy’s and Santa Clarita Athletic Center. The center also is anchored by Santa Clarita Public Library, which was not included in the offering. Occupancy is currently 95%.

For more information, contact Larry Gray, Marcus & Millichap Real Estate Investment Brokerage Co., 500 Ygnacio Valley Road, Suite 330, Walnut Creek, CA 94596; 925-979-9810 Ext. 116, Fax 925-979-9811; Web site: www.marcusmillichap.com.

Yale Realty Services Corp. acquired Circuit City Plaza in Altamonte Springs, FL. The 110,000 sq.ft. center includes Circuit City, Tuesday Morning, Party City and U.S. Postal Service.

For more information, contact Yale Realty Services Corp., 501 Washington Avenue, Pleasantville, NY 10570; 914-769-7600, Fax 914-769-5463.

Edens & Avant acquired the 82,978 sq.ft. Kroger-anchored Everson Pointe Center located at the intersection of Stone Mountain Highway and Highway 124 in Snellville, GA. The center is anchored by a 57,246 sq.ft. Kroger and includes more than 25,000 sq.ft. of smaller regional and local retailers. The center is currently 98% occupied.

For more information, contact Susan Sale-Korper, Edens & Avant, 900 Bank of America Plaza, 1901 Main Street, Columbia, SC 29201; 800-662-7212, Fax 803-765-0684.

Arroyo & Coates is selling a 65,424 sq.ft. building located at 1125 West Winnemucca Boulevard at the intersection of Interstate 95 and 4th Street in Winnemuca, NV for $5.17 million with a Cap rate of 8.75%. The site is situated on a land area of approximately five acres and is tenanted by a 63,024 sq.ft. Raley’s, Inc. and a 2,400 sq.ft. Philly Cheese Steak Shop. Raley’s lease expires December 31, 2015, while the lease of Philly Cheese Steak Shop expires March 31, 2005. Both leases are NNN. All taxes, insurance and maintenance including, but not limited to, roof, parking lot and structural portions of the property are paid by tenant.

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.

Madison Commercial Group is looking to acquire office, retail, industrial and multi-family properties in TX ranging from $2.5 million to $4 million. Commercial sites should have a Cap rate of 9.5% and up with strong leases.

For more information, contact Kathryn R. Gordon, Madison Commercial Group, 611 Carpenter Avenue, Suite 205, Austin, TX 78753; 512-836-8166, Fax 512-836-5601; Email: krgordon@ev1.net.

Colliers International is selling a center consisting of retail buildings at the Jefferson Tower office building located at 301-371 West Jefferson Boulevard in Dallas, TX for $3 million. The 50,369 sq.ft. center is situated on a land area of 1.236 acres and is 64% occupied. The Cap rate is 10%. The property is listed in the National Register of Historic Places and is eligible for an investment tax credit equal to 20% of qualifying rehabilitation.

For more information, contact David M. Butler, Colliers International, 1300 Post Oak Boulevard, Suite 225, Houston, TX 77056; 713-830-2105, Fax 713-986-4405.