|
Buyers & Sellers
|
|
|
Buyers & Sellers Cohen & Co., Inc. Real Estate closed on the sale of St. John’s Plaza, a 75,515 sq.ft. center located at the intersection of U.S. Highway 1 and State Road 207 on Ponce De Leon Boulevard in St. Augustine, FL. The center is anchored by a 45,298 sq.ft. Winn-Dixie and was 99% occupied at the time of closing. For more information, contact Michael Cleeman, Cohen & Co., Inc., Real Estate, 11 East 44th Street, New York, NY 10017; 212-803-5785, Fax 212-679-1533; Web site: www.cohenco.com
Phillips Edison & Co. acquired Fairview Park Plaza, a 271,815 sq.ft. center located in Centralia, IL. The center is anchored by Schnuck’s, Goody’s, Peeble’s and Big Lots. For more information, contact Gloria Siegler, Phillips Edison & Co., 11690 Grooms Road, Cincinnati, OH 45242; 513-554-1110 Ext. 226; Web site: www.phillipsedison.com.
Faris Lee Investments is marketing shops and pads adjacent to a Home Depot at The Plaza at Puente Hills, a center located in the City of Industry, CA for $9.68 million with a Cap rate of 7%. The center is anchored by Office Depot, Smart & Final, Home Depot, Toys “R” Us and Sam’s Club. The pads and shops total 38,845 sq.ft. on a land area of 3.26 acres. Cotenants in the pads include Jack In The Box, Arby’s, Moda Furniture, Diamond Bar Jewelry and Preferred Bank. The company also is marketing The Courtyards at Talega, a center located in San Clemente, CA for $5.725 million with a Cap rate of 6.1%. Area retail includes Plaza Pacifica, which is anchored by Lowe’s Home Improvement, Wal*Mart and Albertsons. For more information, contact Faris Lee Investments, 2301 Dupont Drive, Suite 100, Irvine, CA 92612; 949-221-1800, Fax 949-221-1830; Web site: www.farislee.com.
Ershig Properties, Inc. acquired Mercer Mall located at the intersection of U.S. 460 and Route 25 in Bluefield, WV. The 660,683 sq.ft. mall is anchored by Belk’s, Belk’s Home Store, JCPenney, Sears and Carolina Pottery. For more information, contact Ed Brown, Ershig Properties, Inc., 1800 North Elm Street, Henderson, KY 42420; 270-826-0595, Fax 270-827-3969; Email: ebrown@ershigproperties.com.
Weingarten Realty Investors acquired the following three centers located throughout TX: North Creek Plaza, a 434,700 sq.ft. center located at the intersection of Del Mar Boulevard and Interstate 35 in Laredo, TX. The center is anchored by HEB Supermarket and Target and is tenanted by Bed Bath & Beyond, Marshall’s, Old Navy, Best Buy, Pier 1 Imports, Party City and United Artists Theater; Plantation Centre, a 134,600 sq.ft. center located at the intersection of Del Mar Boulevard and McPherson Avenue in Laredo. The center is anchored by HEB Supermarket and is 97% occupied; and Northtown Plaza, a 73,600 sq.ft. center located at the intersection of 1st Street and University Avenue in Lubbock, TX. The center is 100% occupied and is anchored by United Supermarket. For more information, contact Weingarten Realty Investors, PO Box 924133, Houston, Texas 77292-4133; 713-866-6000, Fax 713-866-6049; Web site: www.weingarten.com.
Millennium Properties, Inc. is selling a 159,071 sq.ft. center located on Route 64 in Antigo, WI. The center was formerly anchored by Kmart and Copps Market and is situated on a land area of 14.02 acres. Area demographics include a population of 11,469 within five miles earning $44,172 as the average household income. The site has an average daily traffic count of 11,100 vehicles. The company also sold a location on North Harlem in Niles, IL for $2.08 million. The site included an improvement of 29,000 sq.ft. on 48,000 sq.ft. of land. Plans for the site include a 15,000 sq.ft. retail development For more information, contact Susan B. Silver, Millennium Properties, Inc., Two First National Plaza, 20 South Clark Street, Suite 630, Chicago, IL 60603; 312-338-3003, Fax 312-338-3008; Email: ssilver@mpirealestate.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.
CB Richard Ellis, Inc. is marketing Fullerton Promenade, a 15,185 sq.ft. center located on Wilshire Avenue in Fullerton, CA for $4.153 million with a Cap rate of 6.50%. The center is 100% leased to five tenants. CB Richard Ellis/The Dalton Team sold a 90,956 sq.ft. Big Kmart located in Lakeport, CA. 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; Email: phil.voorhees@cbre.com; Web site: www.pcgnb.com. For more information regarding the Big Kmart location, contact Gregory M. Dalton, CB Richard Ellis, Inc., 1512 Eureka Road, Suite 100, Roseville, CA 95661-3040; 916-781-4816; Email: greg.dalton@cbre.com.
Southern Management & Development, L.P. is selling a 27,176 sq.ft. Bank of America located at the intersection of Biscayne Boulevard and Sans Souci Boulevard in North Miami, FL for $4.5 million. The site has an average daily traffic count of 54,000 vehicles. For more information, contact Southern Management & Development, L.P., 21301 Powerline Road, Suite 312; 561-883-1412, Fax 561-883-6218; Email: info@smddealmakers.net.
Sunset is looking to acquire sites throughout the Portland, OR area for $1.5 million. For more information, contact Art Seto, Sunset, 3863 SE 136th Avenue, Portland, OR 97236; 503-772-8882 Ext. 5, Fax 503-772-8883.
Sperry Van Ness is selling Claremont Plaza, a 110,656 sq.ft. center located on Claremont Avenue in Ashland, OH for $1.9 million. The center is anchored by Tractor Supply Co. and is 24% occupied. The company also is selling Kmart Plaza, a 49,420 sq.ft. center located on West 65th Street in Cleveland, OH for $2.5 million with a Cap rate of 9%. The center is anchored by Big Lots, Payless ShoeSource and Subway. For more information, contact Joseph C. French Jr., Sperry Van Ness, 50 Main Street, Suite 1000, White Plains, NY 10606; 914-682-6868, Fax 914-682-6867; Email: frenchj@sun.com.
Standard Management Co. acquired Rosedale Village Shopping Center located at the intersection of Rosedale Highway and Calloway Drive in West Bakersfield, CA for $21.7 million. The 217,000 sq.ft. center is 99% occupied except for a vacant 82,000 sq.ft. former Kmart, which the company is planning to divide and lease to several big-box retailers. For more information, contact Standard Management Co., 6151 West Century Boulevard, Suite 300, Los Angeles, CA 90045; 310-410-2300, Fax 310-410-2919; Web site: www.standardmanagement.com.
DeBartolo Development, LLC acquired Embassy Crossing Shopping Center, a 336,585 sq.ft. center located at the intersection of Highway 19 and Embassy Boulevard in Port Richey, FL. The center is anchored by the Sports Authority, Books A Million, Ross, Olive Garden and Chili’s. For more information, contact Christine Pozefsky, DeBartolo Development, 15436 North Florida Avenue, Suite 200, Tampa, FL 33613; 813-908-8400, Fax 813-908-2206; Email: cpozefsky@debartolodevelopment.com.
.
|