Buyers & Sellers
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Buyers & Sellers

Point One Commercial Real Estate is representing a client aggressively seeking to acquire a strip center. The client is seeking sites in Chicago or the western suburbs of IL, the Milwaukee, WI area, as well as northern IL and southern WI. The site must be a net-leased property.

   For more information, contact Gary Seidel, Point One Commercial Real Estate, 2115 West Collingswood Drive, Suite 100, Beloit, WI 53511; 608-362-8598, Fax 815-289-8574; Web site: www.agencynet.us.
 

National Realty is selling the following centers throughout Columbus, OH: Galloway Crossing, a 31,040 sq.ft. center, for $2.975 million. The center is two years old and is anchored by an 8,000 sq.ft. Family Dollar store; and Raintree Center, a 103,702 sq.ft. center, for $4.1 million. The center is 92% leased and is anchored by Harbor Freight Tools, Family Dollar and U.S. Post Office.

   For more information, contact Kevin T. James, National Realty, 5131 Post Road, Suite 350, Dublin, OH 43017; 614-339-1093, Fax 614-846-4289; Web site: www.nationalrsi.com; Web site: www.nationalrsi.com.
 

Horizon Properties is looking to acquire assets that range from $250,000 to $10 million with a focus on properties in the southern FL market. Properties range from local non-anchored commercial to large, institutional grade. Disposition services also are provided by Horizon.

   For more information, contact Horizon Properties, Park West Professional Center, 7785 NW 146th Street, Miami Lakes, FL 33016; 305-364-9945, Fax 305-364-9980; Web site: www.horizonpropertiesfl.com.
 

Combined Properties, Inc. acquired Shops at Sherman Way, a 12,000 sq.ft. center located at the intersection of Sherman Way and Shoup in West Hills, CA for $2.5 million. The company intends to renovate and retenant the property. Area retail includes Ralph’s.

   For more information, contact Linda Dreyer, Combined Properties, Inc., 1255 22nd Street, NW, 6th Floor, Washington, DC 20037-1225; 202-293-4500, Fax 202-833-3013; Email: www.combined.biz.

Petra Capital, LLC acquired a 77,796 sq.ft. Sports Authority/Books-A-Million building located at the intersection of High Point Road and Merritt Drive in Greenville, SC from Fourteen Property, LLC.

   For more information, contact Petra Capital, LLC, 172 Second Avenue North, Suite 112, Nashville, TN 37201; 615-313-5999, Fax 615-313-5990.
 

Zifkin Realty & Development sold Bayberry Square Shopping Center, a 29,032 sq.ft. center located at 225 Cranberry Highway in Orleans, MA.

   For more information, contact Jen Christy, Zifkin Realty & Development, 560 West Washington, Suite 4W, Chicago, IL 60661; 312-576-8650 Ext. 113, Fax 312-575-8651.
 

U.S. Restaurant Properties, Inc. is looking to acquire approximately $50 million to $75 million of single tenant, NNN properties during the coming six months. The company currently has $50 million available to use for these purchases. USRP’s goal is to acquire properties/portfolios that fit the following criteria: single tenant, freestanding net-leased restaurant properties, fast food and casual dining and national or regional brands. The company also prefers portfolios of five or more properties.

   For more information, contact Victor J. Sansone, U.S. Restaurant Properties, Inc., 12240 Inwood Road, Suite 300, Dallas, TX 75244; 972-387-1487, Fax 972-490-9119.
 

CB Richard Ellis is selling Westwood Village Shopping Center, a 111,120 sq.ft. center located at the intersection of Midland Drive and West Illinois Avenue in Midland, TX for $5.25 million. The property is debt free and the buyer may apply for a new loan. The cash on cash yield is 15%. The center has major tenants signed through 2008 and 2013.

   For more information, contact Jennifer Pierson or Houston B. Clark, CB Richard Ellis, 5430 LBJ Freeway, Suite 1100, Dallas, TX 75240; 972-458-4855/5210, Fax 972-702-8315; Emails: jennifer.pierson@cbre.com and bo.clark@cbre.com;  Web site: www.cbre.com.

Upland Real Estate Group, Inc. sold a 10,800 sq.ft. CVS Pharmacy in St. Clair, MI for $2.8 million.

   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.upland.com.
 

Inland Western Retail Real Estate Trust, Inc. acquired CorWest Plaza, a 115,011 sq.ft. center located at 665-677 and 687-713 West Main Street in New Britain, CT for $33 million. The center is anchored by Super Stop & Shop supermarket and is tenanted by a CVS with a drive-thru, Rent-A-Center, Subway, Webster Bank and Liquor Depot.

   For more information, contact Rick Fox, Inland Western Retail Real Estate Trust, Inc., 2901 Butterfield Road, Oak Brook, IL 60523; 603-218-8000 Ext. 4896; Email: rfox@inlandgroup.com; Web site: www.inlandgroup.com.
 

Duke Realty Corp. sold the Stony Creek Marketplace, a 195,000 sq.ft. center in Noblesville, IN to Inland Real Estate Services. The center is tenanted by Meijer, T.J. Maxx, Linens ‘N Things, Barnes & Noble, Shoe Carnival, Factory Card Outlet and Pier 1 Imports. The center is situated on a land area of 60 acres.

   For more information, contact Vicki Bronson, Duke Realty Corp., 600 East 96th Street, Suite 100, Indianapolis, IN 46240; 317-808-6286/6000.
 

GMH Capital Partners negotiated the sale of Pinellas Park Square Shopping Center and a freestanding commercial building that is part of that center in Clearwater, FL to the Mida Group for $6.91 million. The company represented the seller, Watch Omega Holdings, LLC. The 125,319 sq.ft. center is anchored by Save-A-Lot supermarket and Sears Outlet. The 80,160 sq.ft. freestanding building that is within the site was formerly occupied by Builders Square.

   For more information, contact GMH Capital Partners, 10 Campus Boulevard, Newtown Square, PA 19073; 610-355-8500, Fax 610-355-8501.

First Washington Realty, Inc. acquired the following two northern VA centers: Greenbriar Town Center, a 346,000 sq.ft. center located on Route 50 in Chantilly, VA and Manchester Lakes, a 166,000 sq.ft. center located at the intersection of Manchester Boulevard and Beulah Street in Franconia, VA. Greenbriar Town Center is anchored by Marshalls, Ross Dress for Less and Giant Food, while Manchester Lakes is anchored by Shoppers Food Warehouse and Oak Post Furniture.

   For more information, contact Stuart D. Halpert, First Washington Realty, Inc., 4350 East-West Highway, Suite 400, Bethesda, MD 20814; 301-907-7800, Fax 301-907-4911.
 

Marcus & Millichap Real Estate Investment Brokerage Co. sold Hebron Heights Shopping Center located at 1008 Hebron Parkway in Carrollton, TX for $12.4 million with a Cap rate of 8.8%. The 60,000 sq.ft. center is situated on a land area of 10 acres and is 100% occupied. Tenants include Sonny Bryan’s Smokehouse, ReMax DFW Associates, Fantastic Sam’s, Farmers Insurance, Dunkin’ Donuts and Smoothie Factory.

   For more information, contact Steven Siegel, Marcus & Millichap Real Estate Investment Brokerage Co., 270 Madison Avenue, 19th Floor, New York, NY 10016; 212-832-4500, Fax 212-685-2230.