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Buyers & Sellers
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Buyers & Sellers The Sofran Group is selling a 1.64-acre outlot in Fort Myers, FL for $1.1 million. The company also is selling a 1.5-acre outparcel located at the intersection of State Route 44 and Paige Avenue in New Smyrna Beach, FL with an average daily traffic count of 25,500 vehicles. The site is adjacent to a center anchored by Publix. The company also is selling a land area at the intersection of College Drive and U.S. Highway 441 in Leesburg, FL. Area retail includes Lowe’s Home Improvement. For details, contact Jerry Smalley, The Sofran Group, 6160 Peachtree-Dunwoody Road, Building C-100, Atlanta, GA 30328; 770-351-9300, Fax 770-351-9302; Web site: www.sofrangroup.com.
Cohen & Co., Inc. Real Estate closed on the sale of Cartersville Crossing Shopping Center, a Kmart/Bi-Lo-anchored center located in Cartersville, GA. The 168,539 sq.ft. center is located at the intersection of U.S. Highway 41 and State Highway 113. For more information, contact Cohen & Co., Inc. Real Estate, 11 East 44th Street, 10th Floor, New York, NY 10017; 212-679-1222, Fax 212-679-1533; Web site: www.cohenco.com.
Reza Investment Group completed the sale of Mountain Village Entertainment Center for $4.45 million. The company represented Yacoel Investments in the sale to Villa de Wright, LLC. The center is located at the intersection of Mountain Avenue and 6th Street in Ontario, CA and consists of a single-story building with approximately 8,786 sq.ft. The center is anchored by Edwards Cinema and is tenanted by Quizno’s, ColdStone Creamery, Magic Dragon, El Gran Burrito and New Orleans Express. For more information, contact Reza Investment Group, 3 Park Plaza, Suite 550, Irvine, CA 92614; 949-833-3380, Fax 949-833-3382; Web site: www.gowithreza.com.
Flocke & Avoyer Commercial Real Estate has represented a client in the sale of approximately 420,354 sq.ft. of vacant land at the intersection of Alpine Boulevard and South Grade Road in Alpine, CA for an Albertsons-anchored center. The sale was for a total consideration of $3.09 million. For more information, contact Jolene Hui, Flocke & Avoyer Commercial Real Estate, 3131 Camino Del Rio North, Suite 190, San Diego, CA 92108; 619-398-4673, Fax 619-280-3311.
McCollom Realty Ltd. sold the following locations throughout IL: 6,300 sq.ft. on Lake Street in downtown Oak Park and 600 sq.ft. at Cameno Real Plaza located at the intersection of 151st Street and West Avenue in Orland Park. The company also is selling a 4,200 sq.ft. space on South Boulevard in Oak Park, IL and freestanding Dollar General stores in North Liberty and Walkerton, IN. For more information, contact McCollom Realty Ltd., 1010 Lake Street, Oak Park, IL 60301; 708-383-6450; Web site: www.mccollomrealty.com.
Inland Real Estate Sales, Inc. brokered the sale of a Kmart store in Eureka, CA for $3.9 million. Sebanc Family Trust acquired the property from Eureka Mart, LLC. The store is located on Broadway and is a triple-net lease property. The current lease term runs through July 13, 2013 with four, five-year renewal options. The company also acquired the following properties: River Ridge Shopping Center, a 12,374 sq.ft. center located in Birmingham, AL for $3.2 million; Wytheville Commons, a 90,272 sq.ft. center located in Wytheville, VA for $10.2 million; Huebner Oaks Shopping Center, a 286,738 sq.ft. center located in San Antonio, TX; Shoppes at Wendover Village, a 35,609 sq.ft. center located in Greensboro, NC for $9.6 million; Center Point, a 61,071 sq.ft. center located in Easly, SC for $7.8 million; Mill Pond Village, an 84,364 sq.ft. center located in Cary, NC for $15.4 million; Monticello Mall, a 241,052 sq.ft. center located in Monticello, NY for $24.7 million; an Eckerd drug store in Crossville, TN for $2.6 million; Eckerd drug stores in Columbia and Greer, SC for $3.3 million and $3.1 million, respectively; an Eckerd drug store in Kill Devil Hills, NC for $3.7 million; Plaza Santa Fe, a 222,389 sq.ft. center located in Santa Fe, NM for $31.2 million; Northpointe Plaza, a 377,755 sq.ft. center located in Spokane, WA for $54.5 million; John’s Creek Village, a 191,475 sq.ft. center located in Duluth, GA for $42.5 million; Paradise Shops of Prominence Point, a 70,610 sq.ft. center located in Dallas, GA for $13.1 million; Northgate North, a 302,095 sq.ft. center located in Seattle, WA for $48.5 million; Pacheco Pass Shopping Center, a 79,737 sq.ft. center located in Gilroy, CA for $15.3 million; The Shops at Boardwalk, a 122,581 sq.ft. center located in Kansas City, MO for $36.6 million; Pine Ridge Shopping Center, a 229,285 sq.ft. center located in Lawrence, KS for $27 million; Lakewood Towne Center, a 577,863 sq.ft. center located in Lakewood, WA for $81.1 million and Fullerton Metrocenter, a 242,080 sq.ft. center located in Fullerton, CA for $51.2 million. For more information, contact Inland Real Estate Sales, Inc., 2901 Butterfield Road, Oak Brook, IL 60523; 630-218-8000; Web site: www.inlandgroup.com.
Retail Realty Group is selling Galleria Center, a 50,000 sq.ft. center located at the intersection of West Hillsborough Avenue and Lois Avenue in Tampa, FL for $3.2 million. The space was formerly occupied by Service Merchandise. The center is currently occupied by Tile Outlet of America and Bally’s Health & Fitness. The site has an average daily traffic count of 71,320 vehicles. Area demographics include a population of 265,262 within five miles earning $49,684 as the average household income. The company also is selling Center of Seven Springs, an 81,160 sq.ft. center located at the intersection of Little Road and Old State Route 54 in New Port Richey, FL for $4 million. The center is anchored by Dollar General. Area demographics include a population of 131,639 within five miles earning $30,048 as the average household income. Area retail includes Wal*Mart Supercenter, Publix and Bealls. The center is situated on a land area of 8.68 acres. For more information, contact Suzanne Chen, Retail Realty Group, 10014 North Dale Mabry Highway, Suite 101, Tampa, FL 33618; 813-960-8244, Fax 813-264-2775; Email: retailrealty@aol.com; Web site: www.retailrealtygroup.com.
Higgenbotham Auctioneers International Ltd., Inc. is offering the following prime commercial buildings and development tracts: in Nashua and Woodsville, NH; Augusta and Sanford, ME; Wareham, MA; Mishawaka and Highland, IN; Manitowoc and Brookfield, WI; Rockford, Moline, Bloomington and Belvidere, IL; Kansas City, MO; Lenexa, KS; Emmett, ID; Klamath Falls, OR; Escondido, CA; Mesa, AZ and Temple and Lufkin, TX. For more information, contact Higgenbotham Auctioneers International Ltd., Inc., 1666 Williamsburg Square, Lakeland, FL 33803; 863-644-6681 or 800-257-4161; Email: auction@higgenbotham.com.
Colliers Arnold is marketing Westgate Plaza, a 100,200 sq.ft. center located between Carrollwood and Citrus Park in North Tampa, FL. The fully-leased center is anchored by Dollar Tree and Publix. For more information, contact Michael Milano, Lisa McCaffrey or Nayla Foster, Colliers Arnold, 4350 West Cypress Street, Suite 300, Tampa, FL 33607; 813-221-2290, Fax 813-224-9403; Emails: mmilano@colliersarnold.com; lmccaffrey@colliersarnold.com.
Rotella Toroyan Clinton Group, LLP is selling a 30,056 sq.ft. Boat/U.S. Super Marine Center located on West Broward Boulevard in Fort Lauderdale, FL for $2.3 million. The space includes 17,000 sq.ft. for a showroom and 6,000 sq.ft. of mezzanine space. The company also is selling a McDonald’s Express site located on West Hallandale Beach Boulevard in Hallandale, FL for $750,000. For more information, contact Steve Miller or Bill Rotella, Rotella Toroyan Clinton Group, LLP, 3300 North Federal Highway, Suite 200, Fort Lauderdale, FL 33306; 954-568-9015, Fax 954-568-9597; Emails: steve@rtcgrealestate.com and wir@rtcgrealestate.com; Web site: www.rtcgrealestate.com.
The Midtown Niki Group closed on an approximately $40 million sale/leaseback financing transaction with Jack In The Box, Inc. The company financed the purchase through an acquisition facility provided by California Bank & Trust. For more information, contact The Midtown Niki Group, 3655 Nobel Drive, Suite 650, San Diego, CA 92122; 858-546-0033, Fax 858-546-0034; Email: info@midtownniki.com.
CB Richard Ellis, Inc./The Dalton Team is selling a Best Buy store located on Pleasant Hill Road in Duluth, GA for $7.3 million. The site has an absolute NNN lease. CB Richard Ellis, Inc. sold a 91,653 sq.ft. Kmart Plaza located on Calumet Avenue in Valparaiso, IN. For more information, contact Gregory M. Dalton, CB Richard Ellis, Inc., 1512 Eureka Road, Suite 100, Roseville, FL 95661-3040; Email: greg.dalton@cbre.com; Web site: www.cbre.com. For more information regarding the Kmart in Valparaiso, contact Starr Argyrakis, CB Richard Ellis, Inc., 311 South Wacker Drive, Suite 400, Chicago, IL 60606; 312-935-1400, Fax 312-935-1880; Email: starr.argyrakis@cbre.com.
Reliable Properties is looking to acquire properties nationwide, but primarily throughout the western U.S. from $2 million to $100 million. The company will acquire strip, mixed-use and power centers, freestanding locations and single-tenant locations of 50,000 sq.ft. and above. For more information, contact Shawn Nourafshan, Reliable Properties, 6399 Wilshire Boulevard, Suite 604, Los Angeles, CA 90480; Email: shawn@reliableprop.com.
Midland Atlantic Properties is selling a 17,000 sq.ft. single-tenant building located on South Madison Avenue in Indianapolis, IN for $1.395 million with a Cap rate of 8%. The site is 100% occupied. For more information, contact Midland Atlantic Properties, 9000 Keystone Crossing, Suite 850, Indianapolis, IN 46240; 317-580-9900, Fax 317-580-1169.
Mid-America Real Estate Corp. has been retained on behalf of the owner to sell the 100% fee simple interest in Rochester Crossing Shopping Center located at the intersection of Highway 52 and 41 Street in Rochester, MN for $7 million with a Cap rate of 7.25%. The 21,492 sq.ft. center is tenanted by Chipotle, Panera Bread, Cold Stone Creamery, EB Games, LA Weight Loss, Countrywide Home Loans and Supercuts. Area retail includes Rochester Marketplace, which is anchored by Home Depot and Super Target. For more information, contact Ben Wineman, Mid-America Real Estate Corp., Two Mid-America Plaza, Third Floor, Oakbrook Terrace, IL 60181; 630-954-7336, Fax 630-954-7304; Email: bwineman@midamericagrp.com.
Retail Capital Group, LLC is looking to acquire properties in the Southeastern U.S. from $1 million to $30 million. For more information, contact Mike McMillen, Retail Capital Group, LLC, 2970 Peachtree Road, Suite 345, Atlanta, GA 30305; 404-816-5454, Fax 404-816-5445.
NAI Krauss Organization is selling Lakeland Marketplace, a 76,576 sq.ft. center located on Lakelands Highlands Road in Lakeland, FL for $1.5 million. The center is situated on a land area of 8.79 acres. For more information, contact NAI Krauss Organization, 711 North Sherrill Street, Tampa, FL 33609; 813-885-5656, Fax 813-281-2356; Email: tampa@naikrauss.com; Web site: www.naikrauss.com.
Matheron Commercial is selling a 14,400 sq.ft. center located on North Main Street in Fuquay Varina, NC for $2.665 million. The lease rate is $18.50 psf NNN. For more information, contact Lynn Matheron, Matheron Commercial, 800 Hawks View Court, Fuquay Varina, NC 27526; 919-552-3709, Fax: 919-552-0147; Email: matheroncommercial@nc.rr.com.
Investcorp International, Inc. sold the following two Palm Beach County, FL centers to Ramco-Gershenson Properties Trust: Plaza at Delray in Delray Beach and Mission Bay Plaza in Boca Raton. The centers total 606,480 sq.ft. of space. Plaza at Delray is 333,566 sq.ft. and is anchored by Publix, Regal Cinemas, Linens ‘n Things, Marshalls and Staples. Cotenants include Eckerd and Denny’s. Mission Bay Plaza, a 272,914 sq.ft. center, is situated on a land area of 24.5 acres and is anchored by Albertsons, Toys “R” Us, LA Fitness and OfficeMax. Cotenants include Bank of America, Washington Mutual and Mobil. For more information, contact Investcorp International, Inc., 280 Park Avenue, New York, NY 10017; 212-599-4700, Fax: 212-983-7073; Web site: www.investcorp.com.
Discovery Development is looking to acquire sites of 60,000 sq.ft. throughout southwest FL, GA and TN. The company is looking to acquire first or second-tier properties priced from $400,000 to $450,000. For more information, contact Gene Eisenberg, Discovery Development, 1140 Old Peachtree Road, Suite A, Duluth, GA 30097, Duluth, GA 30097; 770-622-2112 Ext. 123, Fax 770-622-2388.
The Taubman Co. acquired an additional 23.6% interest in International Plaza in Tampa, FL from Ivanhoe Cambridge, increasing its ownership in the center to 50.1%. The remaining interests are owned by Concorde Cos. The $104.5 million price for the acquisition consists of $60.2 million of cash and $44.3 million of beneficial interest in debt attributable to the interest. The Cap rate is 6.4%. For more information, contact The Taubman Co., 200 East Long Lake Road, Suite 300 Bloomfield Hills, MI 48303-0200; 248-258-6800, Fax 248-258-7596; Web site: www.taubman.com.
Belz Enterprises is selling outlots to Belz Factory Outlet World located along Interstate 95 in St. Augustine, FL. The first phase has 315,000 sq.ft. of space and is now open. Cotenants include Tommy Hilfiger, Nike, Liz Claiborne, Guess, Polo Ralph Lauren, Timberland, Jones NY, Nautica, Adidas, Waterford and Vanity Fair. For more information, contact Ron Simkins, Adam Slovis or Ed Woods, Belz Enterprises, 100 Peabody Place, Suite 1400, Memphis, TN 38103; 901-260-7366, Fax 901-260-7203; Web site: www.belz.com.
Kreis & Co., LLC is looking to acquire freestanding Kmart locations or centers anchored by Kmart nationwide. For more information, contact David Kopp, Kreis & Co., LLC, 8 Saint George Place, Westport, CT 06880, Westport, CT 06880; 203-364-8643, Fax 775-942-7796; Web site: www.kreisandco.com.
BMC Capital is selling Applebee’s at the following locations throughout SC: Greenville, Anderson, Easley, Asheville, Greer, Seneca, Greenwood, Simpsonville, Toccoa and Spartanburg. For more information, contact Shawn Givens, BMC Capital, 1200 Abernathy Road, Suite 1700, Atlanta, GA 30328; 770-512-8800, Fax 770-454-0049; Email: tkinney@bmccapital.com; Web site: www.bmccapital.com.
Arroyo & Coates, Inc. is marketing the following sites throughout CA: Copeland Sports located on East Hammer Lane in Stockton for $5 million with a Cap rate of 7.21% and a Foot Locker located on Mission Boulevard in San Francisco for $1.167 million with a Cap rate of 6%. The site has a new 10-year lease with annual bumps. For more information, contact Paul Souza, Arroyo & Coates, Inc., 500 Washington Street, Suite 700, San Francisco, CA 94111; 415-445-7800 Ext. 184, Fax 415-723-7700; Email: psouza@a-c.com.
Marcus & Millichap Real Estate Investment Brokerage Co. is selling a 10,000 sq.ft. center located in Betsy Lane, KY for $838,100 with a Cap rate of 8%. The center is tenanted by an 8,000 sq.ft. Family Dollar and a 2,000 sq.ft. Mountain Rehab and Sports. The company also is selling Eastway Village Shopping Center, a 52,915 sq.ft. center located off the FM 1960 Bypass in Humble, TX for $2.645 million with a Cap rate of 7.9%. The center is tenanted by Omega Carpet of TX, Papa John’s Pizza, Thrift Pharmacy and A&S Restaurant. For more information, contact Brian Southworth, Marcus & Millichap Real Estate Investment Brokerage Co., 101 West Ohio Street, Suite 1550, Indianapolis, IN 46204; 317-955-2600, Fax 317-955-0091. For more information regarding the Humble, TX site, contact Marcus & Millichap, 777 Post Oak Boulevard, Suite 900, Houston, TX 77056; 713-626-3040, Fax 713-626-1304. |