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Buyers & Sellers
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Buyers & Sellers Staubach Retail Services is selling the following centers: a 260,319 sq.ft. Price Chopper-anchored center located in Cortland, NY for $14.9 million; a 220,842 sq.ft. Price Chopper-anchored center located in Oneida, NY; a center located in Callaway, FL for $6.85 million with a Cap rate of 9.8%; a 374,539 sq.ft. outlet mall located in Lakeland, TN for $5 million; a 183,827 sq.ft. center located in Draper, UT for $11.5 million; a CVS in Union, NJ for $5.6 million with a Cap rate of 7%; a 151,256 sq.ft. VF Factory Outlet Store-anchored center in Crossville, TN for $10.25 million; a 60,229 sq.ft. VF Factory Outlet Store in Union City, TN for $1.3 million with a Cap rate of 11%; a 91,063 sq.ft. VF Factory Outlet Store in West Frankfort, IL for $1 million with a Cap rate of 11% and a 129,412 sq.ft. outlet center in Tupelo, MS for $1.326 million with a Cap rate of 10%. For more information, contact David Wojciechowski, Staubach Retail Services, 12 East 49th Street, 31st Floor, New York, NY 10017; 212-418-2668, Fax 212-418-2675; Email: dtwoj@staubach.com; Web site: www.srsny.com. Bryant Development Corp. acquires supermarket and drug store-anchored neighborhood and community centers from 100,000 sq.ft. to 350,000 sq.ft. with an occupancy rate from 50% to 80% within 300 miles of New York, NY and within the tri-city region of KY, NC, TN and VA. The company will consider portfolios and acquires single-asset locations between $2 million and $15 million. For more information, contact Andrew B. Hascoe, Bryant Development Corp., 2900 Westchester Avenue, Purchase, NY 10577; 914-701-4300, Fax 914-251-1787; Email: ahascoe@brydevco.com. NAI Hiffman represented Judah LLC in the sale of Bloomingdale Plaza, an 85,116 sq.ft. center located at the intersection of Army Trail Road and Bloomingdale Road in Glendale Heights, NY. The center is anchored by Swingles Furniture Clearance Center and Big Lots and is tenanted by Jackson Hewitt Tax Service, Allstate Insurance, Subway, Domino’s Pizza and Lavazza Coffee. For more information, contact David A. Lewand, NAI Hiffman, One Oakbrook Terrace, Oakbrook Terrace, IL 60181; 630-693-0640, Fax 630-932-7258; Email: dlewand@hiffman.com; Web site: www.hiffman.com. NAI Mertz Corp. sold a 12,700 sq.ft. store located at 600 Black Horse Pike in West Collingswood, NJ for $419,000. The store is an additional location for a national mattress, frame and bedding store. For more information, contact Faye M. Mertz, NAI Mertz, 21 Roland Avenue, Mount Laurel, NJ 08054-1096; 856-234-9600, Fax 856-234-4957; Web site: www.mertzcorp.com. Kitchell Development Co. sold Camelback Crossing, a 16-acre center located at the intersection of Camelback Road and Dysart Road in Phoenix, AZ. The center is anchored by Bashas’ and Walgreens and is tenanted by Bank of America. The site is adjacent to Litchfield Park and across from the Wigwam Golf and Country Club. Area demographics include a population of 65,000 within five miles. For more information, contact Barbara Bean, Kitchell Development Co., 1707 East Highland, Phoenix, AZ 85016; 602-264-4411. CB Richard Ellis, Inc. is selling a 60,143 sq.ft. specialty center located at 13161-13265 Harbor Boulevard in Garden Grove, CA. Area retail includes Albertsons, Mervyn’s and Ross. Area demographics include a population of 826,917 within five miles earning $65,765 as the average household income. The center is 87% leased. The company also is selling a 2,823 sq.ft. Jack In The Box located on Highway 183 in Euless, TX for $1.107 million with a Cap rate of 6.75%. The site has an average daily traffic count of 154,000 vehicles and is situated on a land area of 0.6376 acres. The lease is for 15 years with 15% bumps every five years. For more information, contact Philip D. Voorhees, CB Richard Ellis, Inc., 3501 Jamboree Road, Suite 100, Newport Beach, CA 92660; 949-725-8521, Fax 949-725-8545. For more information regarding the Jack In The Box, contact Jennifer Pierson, CB Richard Ellis, Inc., 5430 LBJ Freeway, Suite 1100, Dallas, TX 75240; 972-458-4800/4855; Email: jennifer.pierson@cbre.com. First Allied Corp. acquired Shops at Cumberland Place, a 33,200 sq.ft. center located at the intersection of Cumberland Circle and Spring Hill Parkway in Atlanta, GA for $6.3 million. The center is tenanted by Carrabba’s Italian Grill, Roaster’s and Cork’s Beverage Depot. For more information, contact First Allied Corp., 9601 Wilshire Boulevard, Suite 744, Beverly Hills, CA 90210; 310-275-8909, Fax 310-275-8995; Web site: www.firstalliedcorp.com Inland Western Retail Real Estate Trust, Inc. acquired the 217,505 sq.ft. Darien Town Centre located at the intersection of 2189 75th Street and Lyman Avenue in Darien, IL for $30 million. Anchors at the center include a 109,200 sq.ft. Home Depot, a 25,487 sq.ft. PetsMart and a 32,984 sq.ft. Circuit City. In addition, the center is shadow-anchored by a 121,267 sq.ft. Wal*Mart, which was not part of the transaction. Cotenants include Panera Bread, Jenny Craig, Great Clips and T.G.I. Friday’s. For more information, contact Rick Fox, Inland Western Retail Real Estate Trust, Inc., 2901 Butterfield Road, Oak Brook, IL 60523; 630-218-8000 Ext. 4896; Email: rfox@inlandgroup.com; Web site: www.inlandgroup.com. Henzlik-Oliver Real Estate Cos., LLC acquired a former Kmart building located at 3990 Loop 306 in San Angelo, TX. The company plans to market the approximately 100,000 sq.ft. building to retail tenants. The building has potential to be divided to accommodate several retailers. For more information, contact Tyler Oliver or Doug Henzlik, Henzlik-Oliver Real Estate Cos., LLC, 10841 West 87th Street, Suite 300, Overland Park, KS 66214; 913-438-9900, Fax 913-438-9994; Web site: www.henzlikoliver.com. Divaris Real Estate, Inc. sold two former Service Merchandise buildings in Richmond, VA. The first property is located in Circuit City Plaza at 9860 West Broad Street and was sold to Sledd Properties, LLC for $5,574,281. The building is approximately 60,000 sq.ft. and is situated on a land area of 5.13 acres. The center is tenanted by Michaels, Circuit City, DSW Shoes and Dollar Tree. The second property is a former Service Merchandise building located at 1300 Huguenot Road in Richmond. The building is situated on a land area of 5.455 acres and was sold to JLP-Richmond, LLC for $5.125 million. Office Depot currently occupies half of the building, while DSW Shoes will open a store in the remaining space. For more information, contact Divaris Real Estate, Inc., One Columbus Center, Suite 700, Virginia Beach, VA 23462; 757-497-2113, Fax 757-497-1338; Email: info@divaris.com. Upland Real Estate Group, Inc. sold a 6,200 sq.ft. KinderCare Learning Center in Bonney Lake, WA for $1.4 million and a 9,897 sq.ft. KinderCare Learning Center in Glastonbury, CT for $2.2 million. For more information, contact Brier E. Swing, Upland Real Estate Group, Inc., 250 Marquette Avenue, Suite 575, Minneapolis, MN 55401; 612-335-9366,Fax612-376-4489;Email: brier@upland.com;Website: www.nnnsales.com.
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