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Buyers & Sellers
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Buyers & Sellers CB Richard Ellis, Inc. is marketing Belmont Shopping Center, a 112,344 sq.ft. center located at the intersection of East Anaheim Street and North Obispo Avenue in Long Beach, CA. The center is 99% NNN leased, with 85% to national and regional credit tenants. Anchors include Rite Aid and Ralphs. The site has an average daily traffic count of 177,000 vehicles. Area demographics include a population of 184,200 within three miles earning $50,000 as the average household income. The company also arranged the sale of the 147,470 sq.ft. Wal*Mart Plaza located at 1501 Vaughn Road in Wood River, IL. The seller was Malan Realty Investors, Inc. The center is anchored by Wal*Mart and is tenanted by Fashion Bug, Great Clips, Radio Shack and H&R Block. For more information, contact Sam Alison or Dan Riley, CB Richard Ellis, Inc., 355 South Grand Avenue, Suite 2700, Los Angeles, CA 90071; 213-613-3637/3517, Fax 213-613-3630; Emails: sam.alison@cbre.com and dan.riley@cbre.com; Web site: www.cbre.com. For more information regarding Wal*Mart Plaza, contact Starr Argyrakis, CB Richard Ellis, Inc., 311 South Wacker Drive, Suite 400, Chicago, IL 60606; 312-935-1029, Fax 312-935-1880.
Shaker & Associates, Inc. acquired a three-story retail and office building located at 1100 West Lake Street in Oak Park, IL from Marc Realty for $10.394 million. The center is 100% occupied. For more information, contact Anthony R. Shaker, Shaker & Associates, Inc., 1100 Lake Street, Oak Park, IL 60301; 708-524-0800, Fax 708-524-0881.
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.
C.A. White, Inc. is representing an investor looking to acquire property that meets the following criteria: anchored shopping centers with 80% credit tenants; stable and growth markets only; long-term leases; single tenants NNN preferred. Other property types will be considered if there are long-term leases and credit tenants. For more information, contact Frank M. Micali, C.A. White, Inc., 1211 Chapel Street, New Haven, CT 06511; 203-777-6891, Fax 203-777-6655; Email: frank@cawhite.com; Web site: www.cawhite.com.
Cohen & Co., Inc. Real Estate closed on the sale of an unanchored center located on The Post Road in Orange, CT. Firelite Shopping Center is a 55,000 sq.ft. center with 30 tenants and five buildings comprised of: two-story office building, two multi-tenanted retail buildings and two freestanding single tenanted retail buildings. One building is occupied by Curves For Women and the other by Prime Bank. For more information, contact Vera Thomas, Cohen & Co., Inc. Real Estate, 11 East 44th Street, New York, NY 10017; 212-679-1222, Fax 212-679-1533; Email: thomas@cohenco.com; Web site: www.cohenco.com.
Marcus & Millichap Real Estate Investment Brokerage Co. is marketing Pueblo Shopping Center, a 106,230 sq.ft. center located at the intersection of Hart Road and 29th Street in Pueblo, CO for $8.9 million. The center is anchored by a 50,937 sq.ft. King Soopers Grocery Store and is situated on a land area of 12.9 acres. The property is approximately 83% leased by 15 tenants, while there are six vacant spaces ranging from 1,180 sq.ft. to 8,000 sq.ft. Cotenants include Greenbacks, Countrywide Home Loans, H&R Block and Sally Beauty Supply. The company also is marketing a freestanding Burger King restaurant located at the intersection of Topeka Boulevard and 37th Street in Topeka, KS for $1.135 million. The company also is marketing Brookings Mall, a 150,148 sq.ft. mall located in Brookings, SD. The mall is anchored by a 52,675 sq.ft. Hy-Vee Grocery Store. The mall is situated on a land area of 13.65 acres. The property is approximately 89% leased by 11 tenants, while there are six vacant spaces ranging from 393 sq.ft. to 13,529 sq.ft. Cotenants include Ace Hardware, Thrifty White Drug, Life Touch, Fair Isaacs and Mediacom Minnesota. For more information, contact Marcus & Millichap Real Estate Investment Brokerage Co., 1401 Seventeenth Street, Suite 1100, Denver, CO 80202; 303-320-1300, Fax 303-308-9048; Web site: www.marcusmillichap.com.
Maestas & Ward Commercial Real Estate is selling Isleta Shopping Center, a 32,648 sq.ft. center located at the intersection of Isleta and Arsenal in Albuquerque, NM for $3.1 million with a Cap rate of 8.5%. Cotenants include Blockbuster Video, Family Dollar, Subway, Ace Cash Express, Advantage Wireless, Perico’s Mexican Restaurant, Dos Hermanos Furniture and El Herradero Meat Market. For more information, contact Steve Maestas, Maestas & Ward Commercial Real Estate, 7620 Jefferson, Albuquerque, NM 87109; 505-878-0001, Fax 505-878-0002; Email: steve@maestasandward.com; Web site: www.maestasandward.com.
Advantis Investment Services Group is marketing a 14,560 sq.ft. Walgreens in Grayson, GA for $5.94 million. The building is situated on a land area of 2.28 acres, while the lease term is for 25 years. Area demographics include a population of 108,408 within five miles earning $79,530 as the average household income. For more information, contact Brad C. Luger, Advantis Investment Services Group, 4300 West Cypress Street, Suite 1000, Tampa, FL 33607; 813-342-4707/4701, Fax 813-342-4015; Emails: bluger@advantisgva.com and lrandolph@advantisgva.com.
Colliers International is marketing a 34,000 sq.ft. Marshalls located at the intersection of San Pablo and Portola Drive in El Cerrito, CA for $7.55 million. Area demographics include a population of 305,113 within five miles earning $70,480 as the average household income. For more information, contact David M. Norcott, Colliers International, 11111 Santa Monica Boulevard, Suite 100, Los Angeles, CA 90025; 310-966-2486.
Cushman & Wakefield of Georgia, Inc. is marketing Toco Hills Promenade, a 155,128 sq.ft. center located in Atlanta, GA. The property is anchored by a 51,674 sq.ft. Publix with a long-term lease expiring 2024. Area demographics include a population of 110,866 within three miles earning $72,173 as the average household income. The center is situated on a land area of 12.715 acres and is 84.6% occupied. For more information, contact Kris J. Cooper or Margaret K. Caldwell, Cushman & Wakefield of Georgia, Inc., 3300 One Atlantic Center, 1201 West Peachtree Street, Atlanta, GA 30309; 404-853-5376/5364, Fax 404-853-5259; Emails: kris_cooper@cushwake.com and margaret_caldwell@cushwake.com.
Lamar Cos. acquired The Market at Cherry Road Shopping Center located at the intersection of Cherry Road and Plaza Boulevard in Rock Hill, SC. The 130,018 sq.ft. center has spaces available of 1,500 sq.ft. and 5,048 sq.ft. For more information, contact Dana Hawkins, Lamar Cos., 365 South Street, Morristown, NJ 07960; 800-526-0762 Ext. 240 or 973-285-0660, Fax 973-285-0976; Email: danah@lamarco.com.
Wilcox Capital Partners is selling a 120,000 sq.ft. Sack N Save-anchored center in the Dallas, TX area. The center is 87% leased and has a Cap rate of 9.25%. For more information, contact Kevin Broz, Wilcox Capital Partners, 14001 Dallas Parkway, Suite 1111, Dallas, TX 75240; 972-759-7747, Fax 972-759-7947. |