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Buyers & Sellers
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Buyers & Sellers Rockwood Realty Associates, LLC sold Voice Road Plaza, a 131,452 sq.ft. center located in Carle Place, NY to First Allied Corp., on behalf of Kimco Realty Corp. The center is anchored by Staples and Harrows and is currently 100% occupied. For more information, contact Lisa Malone, Rockwood Realty Associates, LLC, 555 Fifth Avenue, Fifth floor, New York, NY 10017; 212-286-5800 Ext. 281, Fax 212-286-5555.
Grubb & Ellis is representing MIG Realty Advisors in the sale of Copperwood Square Shopping Center, a 138,990 sq.ft. center located in Sacramento, CA to Red Mountain Retail Group. For more information, contact Bill Liggett, Grubb & Ellis Co., 1610 Arden Way, Suite 195, Sacramento, CA 95815; 916-418-6000, Fax 916-418-6078.
Atlantic Retail Properties is selling a site located at 267-277 Social Street in Woonsocket, RI. The site is situated on a land area of 3.15 acres. Area demographics include a population of 142,442 within seven miles earning $62,096 as the average household income. Area retail includes Brooks Pharmacy, Burger King, Blockbuster Video, Walgreens and Rent-A-Center. For more information, contact Rob Robledo, Atlantic Retail Properties, 11 Ray Avenue, Burlington, MA 01803; 781-472-3600, Fax 781-472-3650; Email: rrobledo@atlanticretail.com.
NAI Pyramid Brokerage Co. is selling a site located at the intersection of Routes 5 and 46 in Oneida, NY. The site is situated on a land area of 0.825 acres and has 8,100 sq.ft. of garage space available. The company also is selling a former 107,022 sq.ft. Peter’s Plaza located at the intersection of Route 11 and Taft Road in North Syracuse, NY. The center is situated on a land area of 7.71 acres. For more information, contact Joyce Mawhinney MacKnight or Brian Snow, NAI Pyramid Brokerage Co., 5786 Widewaters Parkway, Dewitt, NY 13214; 315-445-1030, Fax 315-445-2074; Email: jmacknight@pyramidbrokerage.com and bsnow@pyramidbrokerage.com; Web site: www.pyramidbrokerage.com.
Divaris Real Estate is selling a 10,484 sq.ft. former Darryl’s Restaurant located at 8240 Midlothian Turnpike in Richmond, VA for $1.2 million. The restaurant is situated on a land area of 2.086 acres. Area demographics include a population of 159,200 within five miles earning $68,094 as the average household income. For more information, contact Terry Earnes or Debbie Wake, Divaris Real Estate, 1111 East Main Street, Suite 801, Richmond, VA 23219; 804-643-4700, Fax 804-643-4770; Emails: tearnest@divaris.com and dwake@divaris.com; Web site: www.divaris.com.
Glimcher Realty Trust entered into an agreement to acquire Eastland Mall located in Columbus, OH from Columbus East Joint Venture. The enclosed regional mall has 69 inline stores, a seven-unit food court and four freestanding buildings. With the addition of Kaufmann’s during Fall 2005, the mall will encompass over one million sq.ft. The mall is currently anchored by Lazarus-Macy’s, Sears and JCPenney.
For more information, contact Michael P. Glimcher,
Glimcher Realty Trust, 150 East Gay Street, Columbus, OH 43215; 614-887-5606;
Web site: www.glimcher.com. Locations In Manhattan, Inc. is selling a center located in Orange County, NY for $7 million. The center is 75.5% occupied and has a space of 11,000 sq.ft. available. The site has an average daily traffic count of 10,183 vehicles. Demographics include a trade-area population of 22,866 earning $51,114 as the average household income. The center is anchored by Destinta Movie Theater and Walden Bank and is tenanted by Soprano’s Pizzeria and Mullarkey Liquor Store.
For more information, contact Dominic M.
Healey, Locations In Manhattan, Inc., 53 East 34th Street,
New York, NY 10016; 212-725-1391. Inland Retail Real Estate Trust, Inc. acquired the following five centers anchored by Publix Supermarkets in FL and GA: Cortez Plaza, a 289,110 sq.ft. center located at the intersection of U.S. Highway 41 and Cortez Road in Bradenton, FL for $26.6 million from Cortez Pointe, LLC. The center is anchored by Circuit City, PetsMart and Burlington Coat Factory; Plaza del Paraiso, an 82,291 sq.ft. center located at the intersection of 127th Avenue and southwest 120th Street in Miami, FL for $15.3 million from Paradise Paraiso, Ltd. The center is anchored by Hollywood Video and is tenanted by Sally Beauty and Subway; Shoppes of Lithia, a 79,161 sq.ft. center located at the intersection of Lithia Pinecrest Road and Bloomingdale Avenue in Brandon, FL for $12.9 million from Shoppes of Lithia, Ltd. The center is tenanted by Mail Boxes Etc; Shoppes of Ellenwood, a 67,721 sq.ft. center located at the intersection of Atlanta and Fairview Roads in Ellenwood, GA for $10.7 million from Paradise Ellenwood, Ltd. The center is tenanted by Mail Boxes Etc. and Fantastic Sam’s; and Houston Square, a 60,799 sq.ft. center located at 207 Russell Parkway in Warner Robins, GA for $5.2 million from Hand Partners, Inc. The center is tenanted by Cuts By Us and Eagle Nail.
For more information, contact Rick Fox, Inland
Retail Real Estate Trust, Inc., 2901 Butterfield Road, Oak Brook, IL 60523;
630-218-8000 Ext. 4896; Email: rfox@inland.com. Charles Dunn Co. sold a 19,568 sq.ft. center located at 1000 Beverly Boulevard in Montebello, CA for $4.1 million. The center will house 12 stores, including a 7-Eleven, United Parcel Service site and a Check-N-Go location. The seller was Westwood Financial. For more information, contact Charles Dunn Co., 800 West Sixth Street, Sixth Floor, Los Angeles, CA 90017; 213-683-0500, Fax 213-683-1551; Web site: www.charlesdunn.com.
Paine/Wetzel ONCOR International completed the sale of a former Kmart store located at the intersection of Interstate 90 and Airport Road in Elgin, IL. Life Storage Centers acquired the 100,342 sq.ft. building, situated on nine acres. Life Storage plans to relocate its corporate offices to the site, along with opening a retail box/container store. For more information, contact Paine/Wetzel ONCOR International, 8700 West Bryn Mawr, Chicago, IL 60631; 773-714-9300; Web site: www.painewetzel.com.
CB Richard Ellis is selling the 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 center has major tenants signed through 2008 and 2013. For more information, contact Jennifer Pierson, CB Richard Ellis, 5430 LBJ Freeway, Suite 1100, Dallas, TX 75240; 972-458-4855; Email: jennifer.pierson@cbre.com.
F7 Development, Inc. acquired the Dudley Lee Professional Center, a 34,000 sq.ft. mixed-use center located at the intersection of East Market Street and Murrow Boulevard in Greensboro, NC. The center is 70% leased and is anchored by a 5,000 sq.ft. Krispy Kreme. The center is currently cotenanted by Dudley Q’s Beauty Center & Spa, Nail Style, Wright’s Pharmacy and a dentist office. For more information, contact F7 Development, Inc., 918 Rock Quarry Road, Raleigh, NC 27610; 919-796-2546.
Marcus & Millichap Real Estate Investment Brokerage Co. is selling a 13,000 sq.ft. single-tenant net leased property in Fort Lauderdale, FL for $5 million. The site has an average daily traffic count of 50,000 vehicles. Area demographics include a population of 250,000 within five miles. The population within one mile earns $87,119 as the average household income. The property has a 12% bump in rent every five years. For more information, contact Al Taf, Marcus & Millichap Real Estate Investment Brokerage Co., 1200 Abernathy Road, Northeast, Building 600, Northpark Town Center, Suite 650, Atlanta, GA 30328.
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