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Buyers & Sellers
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Buyers & Sellers Commodore Realty, Inc. is looking to acquire supermarket-anchored sites from 100,000 sq.ft. to 500,000 sq.ft. throughout FL for anywhere from $10 million to $30 million. For more information, contact Sandy Turner, Commodore Realty, Inc., 51 SW 9th Street, Miami, FL 33130; 305-372-3777 Ext. 29, Fax 305-358-1057.
Trammell Crow Co. negotiated the sale of Venice Shopping Center in Venice, FL for $6.775 million. The company negotiated the transaction representing the seller, ING Investment Management, Inc. The 109,390 sq.ft. center is located at 501 Tamiami Trail South in Venice and was 91% occupied at the time of the sale. Tenants include Publix, Beall’s Outlet, Dollar Tree and Wachovia Bank. For more information, contact Trammell Crow Co., 2001 Ross Avenue, Suite 3400 Dallas, Texas 75201; 214-863-3000, Fax: 214-863-3138.
An investor is looking to acquire properties throughout the U.S. for up to $2.5 million. The buyer prefers sites with an occupancy factor of 45% to 100% and an NNN leased site with a Cap rate of 7% and up. For more information, contact Harvinder Saink, 787 Regent Park Drive, San Jose, CA 95123; 408-363-3613, Fax 408-363-3613.
Millennium Properties, Inc. is selling a 159,071 sq.ft. center located at 445 Route 64 in Antigo, WI. The center was formerly anchored by Kmart and Copps Market. The property is situated on a land area of 14.02 acres. For more information, contact Susan B. Silver, Millennium Properties, Inc., Two First National Plaza, 20 South Clark Street, Suite 630, Chicago, IL 60603; 312-338-3003, Fax 312-338-3008; Email: ssilver@mpirealestate.com.
Rivercrest Realty Investors is looking to acquire shopping centers located east of the Mississippi River. The company also has space available in anchored centers along the East Coast. For more information, contact Stanley Werb, Rivercrest Realty Investors, 8816 Six Forks Road, Suite 201, Raleigh, NC 27615; 919-846-4046, Fax 919-846-5814. Or contact, Vijay Shah at 919-846-4046 or Helen Vitaliano at 718-980-7684.
Cypress Equities is selling a former 60,000 sq.ft. Rainbow Foods located at 5000 Main Street in The Colony, TX. The site situated on a land area of 6.138 acres. For more information, contact Caroline Summers, Cypress Equities, 15601 Dallas Parkway, Suite 400, Addison, TX 75001; 972-361-5059, Fax 972-361-5928; Email: caroline.summers@staubach.com.
CB Richard Ellis, Inc. represented RMS Properties in the acquisition of County Square, a 151,430 sq.ft. center located on North State Road 7 in North Miami, FL from Copana Center, Inc. The company also negotiated the sale of an Albertsons-anchored center located in Lake Havasu City, AZ. The 46,000 sq.ft. center, located at the intersection of McCulloch Boulevard and Smoketree Avenue, sold for $4.2 million. Cotenants include Black Bear Diner and Nationwide Homes. The company also is selling a 10,010 sq.ft. center located at 38-40 Centerpointe in La Palma, CA. The center is tenanted by four small shops and one restaurant on NNN leases. For more information, contact Diana Perez, CB Richard Ellis, Inc., 5355 Town Center Road, Suite 701; 561-393-1692 or 561-394-2100, Fax 561-393-1650; Web site: www.cbre.com For more information regarding the Albertsons-anchored center , contact Katherine Haug, CB Richard Ellis, Inc., 2415 East Camelback Road, Phoenix, AZ 85016-4290; 602-735-1782, Fax 602-735-5655; Email: katherine.haug@cbre.com. For more information regarding the center in La Palma, CA, contact Philip D. Voorhees, CB Richard Ellis, Inc., 3501 Jamboree Road, Suite 100, Newport Beach, CA 92660; 949-725-8521, Fax 949-725-8545.
Coldwell Banker Commercial NRT sold Westwood Shopping Center, a two-story 10,000 sq.ft. center located at 6750-6780 Pines Boulevard in Pembroke Pines, FL for $700,000. The center is situated on a land area of 0.55 acres. The buyer was Jeffrey and Jill Rosa, while the seller was Bonnie L. Renzi. For more information, contact Allan Cohen, Coldwell Banker Commercial NRT, 20803 Biscayne Boulevard, Suite 102, Aventura, FL 33180; 305-215-3668, Fax 954-454-7216; Email: allan.cohen@coldwellbanker.com; Web site: www.shoppingcentersflorida.com.
Net Leased Investment Co. sold a 3,784 sq.ft. Starbucks in Clearwater, FL for $1.7 million. The company also sold a 3,000 sq.ft. Del Taco in Lemon Grove, CA for $1.45 million and a 10,908 sq.ft. Eckerd Drug Store in Charlotte, NC for $3.143 million. For more information, contact Bob Fraser, Loree Barnard or Mike Sheerin, Net Leased Investment Co., 120 Alexandria Boulevard, Suite 18, Oviedo, FL 32765; 407-977-2448, Fax 407-977-0775; Web site: www.netleased.com.
Southern Management and Development, L.P. acquired Oaks Mall Plaza, a 105,253 sq.ft. center located at the intersection of Interstate 75 and Newberry Road in Gainesville, FL for $12.23 million from Oaks Mall, Ltd. The center is anchored by Toys “R” Us, the Gator Theaters and Starbucks. The center is also located near the University of Florida. For more information, contact Southern Management and Development, L.P., 21301, Powerline Road, Suite 312, Boca Raton, FL 33433; 561-883-1412, Fax 561-883-6218; Email: info@smddealmakers.net.
Lighthouse Commercial Realty is selling Poquoson Commons, a 63,173 sq.ft. center located at the intersection of Wythe Creek and Victory Boulevard in Poquoson, VA for $10.225 million with a Cap rate of 7.55%. The center is anchored by Food Lion and Eckerd. For more information, contact Troy A. Legge, Lighthouse Commercial Realty, 301 South McDowell Street, Suite 504, Charlotte, NC 28204; 704-334-8040 Ext. 14, Fax 704-334-8071; Email: tlegge@lighthousecommercial.com.
LMS Commercial Real Estate Services is selling a site on a land area of 2.5 acres on Route 72 in West Cornwall, PA for $475,000. The site has an average daily traffic count of 19,000 vehicles. For more information, contact LMS Commercial Real Estate, 120 North Pointe Boulevard, Suite 301, Lancaster, PA 17601; 717-569-9373, Fax 717-560-9909; Web site: www.lms-pma.com.
Sperry Van Ness is selling Rogers Plaza Town Center, a 334,054 sq.ft. center located on 28th Street in Grand Rapids, MI for $24.5 million. The center is tenanted by Family Fare Supermarkets, A.J. Wright, Big Lots, OfficeMax, Harbor Freight Tools, MC Sports, Fashion Bug, Famous Footwear and Old Country Buffet. The center has pad sites available. A $14 million renovation was completed in 2002. Area demographics include a population of 112,000 within three miles earning $43,207 as the average household income. The site has an average daily traffic count of 46,800 vehicles. For more information, contact Joseph C. French Jr., Sperry Van Ness, 50 Main Street, 50 Main Street, Suite 1000, White Plains, NY 10106; 914-682-6868. |