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Buyers & Sellers
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Buyers & Sellers Devcon Enterprises, Inc. sold Bonita Grande Crossing, a 78,966 sq.ft. center located at the intersection of Bonita Grande Road and Bonita Beach Road in Bonita Springs, FL for $13.97 million to Bonita Grande Investments, LLC. The center is anchored by a 54,376 sq.ft. Publix and is tenanted by Subway, The UPS Store, Allstate Insurance, J&L Golf, Marsala’s Pizza, Protech Nail Salon, Bernwood Beauty Salon, Fashion Fresh Cleaners and DiVosta Homes. Two outparcels not part of the sale include Colonial Bank and Chevron. A third outparcel included in the sale is still available for lease or purchase. For more information, contact J.R. Cody III, Devcon Enterprises, Inc., Corporate Center West, 433 South Main Street, Suite 300, West Hartford, CT 06110; 860-521-6999 Ext. 19, Fax 860-521-6789; Web site: www.devconenterprises.com.
The Roberts Organization acquired the former Albertson’s building adjacent to Magnolia Shoppes on University Drive in Coral Springs, FL. The 55,000 sq.ft. building is situated on a land area of 7.78 acres with visibility from the Sawgrass Expressway. Tulepan Management LLC will handle all management and leasing duties at the property. Preliminary plans call for the building to be sub-divided and refit for lease to national credit tenants and the development of a 6,000 sq.ft. outparcel building facing University Drive. For more information contact Randy Tulepan, Tulepan Management LLC, 11555 Heron Boulevard, Coral Springs, FL 33076; 954-603-0455, Fax 954-603-0456; Email: randy@tulepanmanagement.com.
CB Richard Ellis, Inc. is marketing Paradise Square, a 97,537 sq.ft. center located at the intersection of Thunderbird Road and 40th Street in Phoenix, AZ for $15.388 million with a Cap rate of 7.75%. For more information, contact CB Richard Ellis, Inc., 2415 East Camelback Road, Phoenix, AZ 85016-4290; 602-735-5555, Fax 602-735-5655; Web site: www.cbre.com/phoenix.
Winick Realty Group is marketing an 11,378 sq.ft. former ExxonMobil at 61 East Main Street in Freehold, NJ for $475,000. The site is zoned B-2 for general commercial and is a five-bay service station 35 miles from New York, NY and 30 miles east of Trenton, NJ. The company also is selling a 15,650 sq.ft. former ExxonMobil service station at 1244 McCarter Highway in Newark, NJ for $430,000 and a 41,000 sq.ft. former ExxonMobil at 80 Rector Place in Red Bank, NJ for $1.6 million. For more information, contact Rick Riccardi, Winick Realty, 655 Third Avenue, 8th Floor, New York, NY 10017; 212-792-2635, Fax 212-792-2616; Email: rick@winick.com.
NewBridge Retail Advisors, Inc. is selling Leigh Mall, a 308,292 sq.ft. center located at U.S. Highway 45 North in Columbus, MS. The mall is anchored by JCPenney and Sears and is tenanted by Books-A-Million. The mall is currently 77% occupied and each of the anchors and outparcel tenants is owned. The company also is selling Greenville Mall, a 308,439 sq.ft. mall located on U.S. Highway 1 in Greenville, MS. For more information, contact Gary Saykaly or Lynn Leonard, NewBridge Retail Advisors, Inc., Royal Centre One, 11675 Great Oaks Way, Suite 135, Alpharetta, GA 30022; 678-802-6500, Fax 678-802-6588.
Staubach Investment Sales is selling Whiterock Marketplace, a 173,376 sq.ft. center located at the intersection of Jupiter Road and Garland Road in Dallas County, TX. The center is tenanted by Tom Thumb, Marshall’s, Factory 2-U, Dollar General, Aaron Rents and is shadow-anchored by Home Depot. For more information, contact Ken Shulman, Staubach Investment Sales, 15601 Dallas Parkway, Suite 400, Addison, TX 75001; 972-361-5078, Fax 972-361-5909; Email: ken.shulman@staubach.com.
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