Buyers & Sellers
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Buyers & Sellers

Upland Real Estate Group, Inc. sold a Rite Aid located in Greece, NY for $3.5 million. The company also sold a 5,026 sq.ft. Hollywood Video located in New Brighton, MN for $936,000. The company also sold a 6,832 sq.ft. Tires Plus located in Toledo, OH for $1.7 million. The company also sold two Jiffy Lube properties located in Plymouth and Hastings, MN for $1.1 million each.

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.nnnsales.com.

Sperry Van Ness sold an LA Fitness in Fountain Valley, CA with a Cap rate of 8.3%. The building has frontage along the 405 Freeway. The company also sold Mission Foothill Marketplace, a center anchored by Vons, in Mission Viejo, CA.

For more information, contact Reza Etedali, Sperry Van Ness, 18881 Von Karman Avenue, Suite 800, Irvine, CA 92612; 949-225-1825; Email: reza@gowithreza.com.

Inland Retail Real Estate Trust, Inc. acquired the following five retail properties: Windsor Court Shopping Center, a 78,480 sq.ft. center anchored by Stop & Shop located in Windsor, CT for $14.6 million; Capital Crossing Shopping Center, a 92,248 sq.ft. center anchored by Lowes Food Store located in Raleigh, NC for $9.9 million; Concord Crossing Shopping Center, a 55,930 sq.ft. center anchored by Bi-Lo supermarket located in Concord, NC for $5.3 million; Monroe Shopping Center, a 45,080 sq.ft. center anchored by Bi-Lo supermarket located in Monroe, NC for $3.52 million; and a 10,908 sq.ft. Eckerd drug store in Piedmont, SC for $1.96 million.

First Allied Corp. acquired Tampa Bay Center, a 1,000,000 sq.ft. center located across the street from Raymond James Stadium in Tampa Bay, FL, for $22.9 million. The center is situated on a land area of 80 acres.

For more information, contact Mandy Knodle, First Allied Corp., 680 Fifth Avenue, Suite 1602, New York, NY 10019; 212-586-5150, Fax 212-586-5147; Web site: www.firstalliedcorp.com.

Net Leased Investment Co. is selling a Kash N Karry Shopping Center in the Orlando, FL area for $7.65 million with a Cap rate of 8.6%. The center is 100% leased and is anchored by a 55,000 sq.ft. Food Lion.

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.

CB Richard Ellis, Inc. is selling Hillcrest Village, a 151,964 sq.ft. center located at the intersection of Hillcrest and Arapaho Roads in Dallas, TX, for $16 million with a Cap rate of 10.71%. The center is anchored by Albertsons. Area demographics include a population of 338,818 within five miles. The average household income within one mile is $141,770. The Dalton team of CB Richard Ellis, Inc. sold a 24,774 sq.ft. PetsMart in Roseville, CA.

For more information, contact Jerry Luterman, CB Richard Ellis, Inc., 5430 LBJ Freeway, Suite 1100, Dallas, TX 75240; 972-458-4861; Email: jluterman@cbre.com; Web site: www.cbre.com. For more information regarding the PetsMart in Roseville, CA, contact Gregory M. Dalton, CB Richard Ellis, Inc., 1512 Eureka Road, Suite 100, Roseville, CA 95661-3040; 916-781-4816; Email: gdalton@cbre.com.; Web site: www.cbre.com/daltonteam.

Anchor Associates, Inc. is selling the following centers throughout NY: a 52,300 sq.ft. center located on Hempstead Turnpike in Levittown for $7.845 million; a 6,105 sq.ft. center located on Uniondale Avenue in Uniondale for $1 million; a 4,500 sq.ft. center located on North Broadway in Massapequa for $750,000; a 13,800 sq.ft. center situated on a land area of 1.63 acres in Selden for $1.125 million; a two-story building with four stores at street level and two offices on the second floor in Massapequa for $975,000, and a 21,230 sq.ft. center situated on a land area of 1.21 acres in Uniondale for $2.35 million.

For more information, contact John O. Santelli, Anchor Associates, Inc., 22 Juniper Road, Port Washington, NY 11050; 516-767-9331, Fax 516-767-3710; Email: anchor@nvbb.net.

The Woodmont Co. sold Ammon Towne Center, a 156,341 sq.ft. supermarket-anchored center located at the intersection of 17th Street and Hitt Road in Idaho Falls, ID for $15 million. The center is anchored by Albertsons and is tenanted by Target and Big 5 Sports.

For more information, contact The Woodmont Co., 2100 West Seventh Street, Fort Worth, TX 76107; 817-732-4000, Fax 817-735-4738; Web site: www.woodmont.com.

Combined Properties, Inc. acquired La Verne West Shopping Center, a 65,000 sq.ft. center located at the intersection of Foothill Boulevard and Wheeler Avenue in La Verne, CA for $11 million. The center is anchored by Stein Mart and Bank of America and is tenanted by Pick Up Stix, Cingular Wireless and Max Muscle.

For more information, contact Linda Dreyer, Combined Properties, Inc., 1255 22nd Street, 6th Floor, Washington, DC 20037-1225; 202-736-2813, Fax 202-833-3013; Web site: www.combined.biz.

DutteRealty.com represented Bargaineer Associates in the sale of Greenbrook Plaza, a 17,440 sq.ft. center located at 8500 Old County Road 54 in New Port Richey, FL to Lightway Properties, Inc. for $1.265 million. The company also represented the buyer and seller in the sale of property located at 141 Scarlet Boulevard in Oldsmar, FL for $505,000.

For more information, contact DutteRealty.com, 2629 McCormick Drive, Clearwater, FL 33759; 727-723-1612, Fax 727-723-7873.

Coldwell Banker Commercial is selling a 60,000 sq.ft. center located in Syracuse, NY for $3.4 million. The center is tenanted by Pep Boys, Taco Bell, Arby’s and Monroe Muffler. The center, which is situated on a land area of 26.5 acres, has a 12.5-acre expansion parcel available. The center has a Cap rate of 14.01% and a 34.22% cash on cash return.

For more information, contact Lee Rosner, Coldwell Banker Commercial, 3124 South Expressway Drive, Islandia, NY 11722; 631-232-4400 Ext. 113; Email: lrosner@cbcli.com; Web site: www.cbcli.com.

Arroyo & Coates is selling a Walgreens drug store located at 2105 East Wellesley Avenue at Crestline in Spokane, WA for $5.1 million with a Cap rate of 7.25%. The 15,120 sq.ft. building is situated on a land area of 1.76 acres and has a primary lease term of 20 years with eight five-year options. The lease is NNN.

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.

Coldwell Banker Commercial Mountain West is selling a center located at 2500 South Santiam Highway in Lebanon, OR for $450,000. The center is 100% leased and is anchored by Papa Murphy’s and Mike’s Ice Cream, a postal substation, cellular kiosk and a barbershop.

For more information, contact Alex Rhoten, Coldwell Banker Commercial Mountain West, 698 12th Street, Suite 100, Salem, OR 97301; 503-587-4777, Fax 503-588-3514.

NewMark Merrill Cos. acquired The Carson Avalon Center, a 59,783 sq.ft. center located at the intersection of Carson Street and Avalon Boulevard in Carson, CA, from Berkowitz Family Trust. Anchors include Ralphs, Kragen Auto Parts, Togo’s, Baskin Robbins, Carl’s Jr. and Green Burrito. The property is 96% leased.

For more information, contact NewMark Merrill Cos., 18801 Ventura Boulevard, Suite 300, Tarzana, CA 91356; 818-996-0700, Fax 818-996-0760; Web site: www.newmarkmerrill.com.

Wesley Properties, Inc. is selling the following centers: a 54,300 sq.ft. supermarket-anchored center located in Orlando, FL for $6.55 million with a Cap rate of 10%. The center is 100% leased; a 112,000 sq.ft. center located on the East Coast of FL with an adjacent pad for $12.2 million with a Cap rate of 9.1%. The center is 100% leased; and an 84,000 sq.ft. center located in the Jacksonville, FL area for $6.4 million with a Cap rate of 9.1%. The center is 100% leased.

For more information, contact Merv Albrecht, Wesley Properties, Inc., 9812 Spring Lake Drive, Clermont, FL 34711-7984; 352-242-4882, Fax 352-242-4883; Email: wesleyprop@aol.com.

Eastbourne Investments, Ltd. sold West University Marketplace, a 59,976 sq.ft. center located in Houston, TX. The center is anchored by a 45,907 sq.ft. Whole Foods supermarket and a 5,025 sq.ft. Bank One. Also, the company acquired a 25-acre development tract located in the Cinco Ranch area of Houston. The land is situated at the intersection of Fry Road and Grand Parkway.

For more information, contact Frank Egan, Eastbourne Investments, Ltd., 300 International Drive, Suite 135, Williamsville, NY 14221; 716-842-6054, Fax 716-842-3034.