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Buyers & Sellers
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Buyers & Sellers Realty Income Corp. is looking to acquire sites from 1,000 sq.ft. to 70,000 sq.ft. nationwide from $500,000 to $200 million. For more information, contact Kim Kundrak, Realty Income Corp., 220 West Crest Street, Escondido, CA 92025; 760-741-2111, Fax 760-744-8617; Email: kkundrak@realtyincome.com; Web site: www.realtyincome.com.
Pacific International Properties is looking to acquire land areas of one acre to 20 acres throughout AZ, CA, NV and WA with Cap rates of 7% or more. For more information, contact Hugo Chau, Pacific International Properties, 1130 South Baldwin Avenue, Suite 5, Arcadia, CA 91007; 626-821-5588, Fax 626-821-5599; Email: hugochau@hotmail.com.
Beitler Commercial Realty Services represented KAI Partnership in the sale of a 68,000 sq.ft. center located at 24280-24400 Swartz Drive in Lake Forest, CA for $8.55 million to El Toro Shopping Center, LLC. For more information, contact Greg Zimmerman, Beitler Commercial Realty Services, 1 Park Plaza, Suite 1225, Irvine, CA 92614; 949-851-6900, Fax 949-851-6902.
Rubin Real Estate, Inc. is representing a client seeking to acquire supermarket-anchored centers throughout FL, with a focus on Tampa Bay or Miami. For more information, contact Pete Logan, Rubin Real Estate, Inc., 15500 Roosevelt Boulevard, Suite 301, Clearwater, FL 33760; 727-530-0021, Fax 727-536-6852; Email: p.logan@rubinrealestate.com.
Holliday Fenoglio Fowler sold NewMarket South Shopping Center, a 391,784 sq.ft. center located in Newport News, VA. The center is anchored by Food Lion, Haynes Furniture and Rainbow Apparel. For more information, contact Holliday Fenoglio Fowler, 2 Alhambra Plaza, Penthouse II-A, Coral Gables, FL 33134; 305-448-1333; Web site: www.hfflp.com.
Prudential Florida Real Estate Center is selling a land area of 25 acres on Barna Avenue, north of State Road 50, in Titusville, FL for $1.5 million. The company also will sell 12.5 acres at $780,000. For more information, contact David Fitzgerald, Prudential Florida Real Estate Center, 113 West Chapman Road, Oviedo, FL 32765; 407-977-7416, Fax 407-971-0555; Email: dlfitzgerald@cfl.rr.com.
CB Richard Ellis, Inc. is selling a 9,021 sq. ft. three-tenant pad at Terra Vista Town Center, a 9,021 sq.ft. center located in Rancho Cucamonga, CA for $3.625 million with a Cap rate of 6.30%. The site has an average daily traffic count of 47,000 vehicles. Tenants include Verizon Wireless, Tasty Goody and Color Floors. The company also is selling La Mirada Gateway Center located at 14241 East Firestone Boulevard in La Mirada, CA for $7 million with a Cap rate of 9.62%. The company also sold Stony Creek Marketplace, a 153,803 sq.ft. center located at the intersection of State Route 37 and Pleasant Street in Noblesville, IN for $25.7 million. The center is 100% leased and is anchored by T.J. Maxx, Linens ‘n Things, Barnes & Noble, Pier 1 Imports, Shoe Carnival and Factory Card Outlet. For more information, contact Phil Voorhees or Rick Strack, CB Richard Ellis, Inc., 3501 Jamboree Road, Suite 100, Newport Beach, CA 92660; 949-725-8521/8529; Web site: www.pcgnb.com. For more information regarding Stony Creek Marketplace, contact Angela Gentry, CB Richard Ellis, Inc., 311 South Wacker Drive, Suite 400, Chicago, IL 60606; 312-935-1400, Fax 312-935-1880; Web site: www.cbre.com.
Colliers International is selling a land area of 65,000 sq.ft. at the intersection of Charleston and Nellis in Henderson, NV. The asking price is $12 psf. The center is anchored by Target and Mervyn’s. For more information, contact Scot Marker, Colliers International, 3690 Howard Hughes Parkway, Suite 150, Las Vegas, NV 89009; 702-735-5700, Fax 702-731-5709; Email: smarker@lvcolliers.com.
Westrust is looking to acquire $200 million of value-added centers and land for ground-up development throughout AZ and CA, with a focus on southern CA and Sacramento County, during the coming year. The company requires neighborhood and community centers of 75,000 sq.ft. and up and a minimum of seven acres for development. Westrust can invest from $9 million to $60 million for single properties and up to $150 million for portfolios. For more information, contact David A. McDonald, Westrust, 26901 Agoura Road, Suite 250, Calabasas Hills, CA 91301-5103; Email: davidmac@westrust.com; Web site: www.westrust.com.
Marcus & Millichap Real Estate Investment Brokerage Co. is selling the land and building leased for 10 years to Sofa Express situated on Buford Drive in northeast Atlanta, GA for $8.634 million. Area retail includes Mall of Georgia. Area demographics include a population of 112,721 within five miles earning $95,895 as the average household income. For more information, contact Ed Nutting, Marcus & Millichap Real Estate Investment Brokerage Co., 600 Northpark Town Center, 1200 Abernathy Road, Suite 650, Atlanta, GA 30328; 770-393-1700, Fax 770-393-1738.
Sewell Commercial Brokerage is selling a 2,712 sq.ft. freestanding restaurant site at North Park Shopping Center located on New Circle Road in Lexington, KY for $850,000. The center is anchored by Wal*Mart and Staples and is tenanted by McDonald’s, KFC, Taco Bell and Wendy’s. For more information, contact David C. Richardson, Sewell Commercial Brokerage, 880 Corporate Drive, Lexington, KY 40505; 859-219-2470, Fax 858-219-2479; Email: drichardson@sewellcommercial.com.
Lormax Properties, LLC is selling Minges Brook Mall, an 86,000 sq.ft. center located at 5700 Beckley Road in Battle Creek, MI for $10.4 million with a Cap rate of 8.5%. The center is 90% occupied. For more information, contact Ross Fisher, Lormax Properties, LLC, 6755 Daly Road, West Bloomfield, MI 48322; 248-807-0606, Fax 248-282-5205; Email: rfisher@lormaxstern.com; Web site: www.lormaxstern.com.
Reza Investment Group is selling Brentwood Place, a 65,500 sq.ft. center located in Brentwood, CA for $28.75 million. The center is anchored by Ross Dress for Less and Sav-on Drugs and is tenanted by Starbucks, Rubio’s Fresh Mexican Grill, Cingular Wireless, Fatburger, Jamba Juice, Takanawa Sushi and Rio Tan. For more information, contact Reza Etedali, Reza Investment Group, 3 Park Plaza, Suite 550, Irvine, CA 92614; 949-833-3380, Fax 949-833-3382; Web site: www.gowithreza.com.
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