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Buyers & Sellers
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Buyers & Sellers Inland Western Retail Real Estate Trust, Inc. acquired Gateway Station Shopping Center, a 23,431 sq.ft. center located on the northwest edge of the Texas A&M University campus in College Station, TX for $6.5 million. The center is tenanted by Talbots, Jos. A. Banks Clothiers, Kirkland’s and Chico’s. Area retail includes Home Depot. The company also acquired a pair of single-tenant stores, including a Wal*Mart Supercenter in Jonesboro, AR and a CVS pharmacy in Sylacauga, AL. The 149,704 sq.ft. Wal*Mart, which Inland paid $11 million, is located on West Parker Road. The 10,055 sq.ft. CVS Pharmacy, for which Inland paid $3 million, is located at the intersection of North Broadway and East Fort Williams Avenue. The company also acquired Oswego Commons Shopping Center in Oswego, IL for $35 million. The 498,100 sq.ft. center, of which 188,150 sq.ft. are included in this transaction, is anchored by Dominick’s Finer Foods, T.J. Maxx and OfficeMax. Cotenants include Petco, Famous Footwear, Panera Bread, Payless ShoeSource and EB Games. For more information, contact Inland Western Retail Real Estate Trust, Inc., 2901 Butterfield Road, Oak Brook, IL 60523; 630-218-8000.
H.L. Libby Corp. acquired Manchester Plaza, an 86,396 sq.ft. center located on Harrison Avenue in Cincinnati, OH. The center is located adjacent to Kmart and is tenanted by Dollar General, Hancock Fabrics and Harbor Freight. The center is currently 97% occupied. For more information, contact H.L. Libby Corp., 803 Commonwealth Drive, Warrendale, PA 15086; 724-935-3433, Fax 724-935-3462; Email: libbycpa@aol.com.
CB Richard Ellis – Net Leased Properties Group is selling a CSK Auto portfolio, which includes 30 locations throughout AZ, CA, CO, ID, NM, TX, UT and WY for $35.5 million. The combined GLA is 214,000 sq.ft. For more information, contact Jeffrey S. Thomas, CB Richard Ellis – Net Leased Properties Group, 1420 5th Avenue, Suite 1700, Seattle, WA 98122; 800-775-3350, Fax 206-260-2829.
DePaul Real Estate Investment Group, Inc. is selling Shops at Jefferson Village II, a 12,600 sq.ft. center located on West Remington Place in Littleton, CO for $4.65 million. The center is tenanted by 24 Hour Fitness Express, Smoothie King and Quizno’s Subs. For more information, contact Paul DeCrescentis, DePaul Real Estate Investment Group, Inc., 2401 East Second Avenue, Suite 210, Denver, CO 80206; 303-333-9799, Fax 303-333-1703.
Cohen Commercial Properties, LLC acquired Roebuck Marketplace, a 231,140 sq.ft. center located at the intersection of U.S. Highways 11 and 75 with Interstate 59 in Birmingham, AL. The center is anchored by McRae’s, Winn-Dixie Marketplace, Goody’s and Rite Aid and is tenanted by Sally Beauty, Marty’s Menswear, Shoe Carnival, Dollar Tree and Hibbett Sporting Goods. For more information, contact Cohen Commercial Properties, LLC, 11 East 44th Street, 10th Floor, New York, NY 10017; 212-679-1222, Fax 212-679-1533.
Hack & Argo Co. is looking to acquire sites from 1,000 sq.ft. to 490,000 sq.ft. throughout Queens, Brooklyn, the Bronx, Nassau and Suffolk in NY. For more information, contact Anthony Murray, Hack & Argo Co., 224-19 Union Turnpike, Oakland Gardens, NY 11364; 718-217-4800 Ext. 305; 718-217-4807.
Prestige Realty, Inc. is selling a site located on Lombardi Avenue in Green Bay, WI. For more information, contact Aleta Meyer, Prestige Realty, Inc., 935 Lombardi Avenue, Suite 100, Green Bay, WI 54304; 920-497-5005, Fax 920-497-4722.
The Goldstein Group is selling a Bassett Furniture store located on Route 70 West in Brick, NJ for $4.2 million with a Cap rate of 6%. The store is situated on a land area of 3.02 acres. For more information, contact Alan Goldstein, Ari Gasner or Wayne King, The Goldstein Group, Glen Rock Plaza, 266 Harristown Road, Suite 105, Glen Rock, NJ 07452; 201-703-9700; Emails: agoldstein@thegoldsteingroup.com, agasner@thegoldsteingroup.com and rwking@thegoldsteingroup.com.
JBG Rosenfeld Retail acquired an eight-acre parcel in Herndon, VA for the development of Woodland Park Crossing, a 143,000 sq.ft. center located at the intersection of Sunrise Valley Drive and Monroe Street. The center will be anchored by Harris Teeter supermarket. For more information, contact JBG Rosenfeld Retail, 4445 Willard Avenue, Suite 700, Chevy Chase, MD 20815; 301-657-0700, Fax 301-657-9850; Web site: www.jbgr.com.
Faris Lee Investments represented AIG Baker in the sale of a 320,469 sq.ft. portion of Olathe Station, a 611,643 sq.ft. center located in Olathe, KS to PASSCO. The two-phased retail center is located at the intersection of West 119th Street and South Strang Line Road. Phase I is anchored by Super Target, Bed Bath & Beyond, OfficeMax, Bassett Furniture and PetsMart and includes an additional 75,000 sq.ft. of small shop space. Phase II is 98% occupied and is tenanted by AMC Theater, Michaels, Brook Mays Music, Joe’s Crabshack, Zio’s Italian Restaurant, Texas Roadhouse and Rock Bottom Pizza, as well as 54,000 sq.ft. of additional small shop space. PASSCO acquired all the buildings except the AMC Theatre parcel. The company also is selling the following properties: a 40,813 sq.ft. center located in Rancho Santa Margarita, CA for $12.5 million with a Cap rate of 7%; a 215,103 sq.ft. Safeway-anchor center located in Nogales, AZ for $18.22 million with a Cap rate of 8%. The center is situated on a land area of 18.4 acres and is anchored by Safeway, Walgreens, Jack-In-The-Box, Radio Shack, Big Lots, Falles Paredes, Stage Stores and Curves for Women; and County Fair Mall, a 397,071 sq.ft. mall located in Woodland, CA for $22 million. The center is 85.6% occupied and is anchored by Mervyn’s, Target, JCPenney, Gottschalks, Footlocker, Payless Shoes, GNC and Cinemark Movies. For more information, contact Faris Lee Investments, 2301 DuPont Drive, Suite 100, Irvine, CA 92612; 949-221-1800, Fax 949-221-1830; Email: info@farislee.com; Web site: www.farislee.com.
Sperry Van Ness – BBRI is selling a 5,200 sq.ft. building situated on a land area of 30,000 sq.ft. on U.S. Highway 19 in Holiday, FL for $886,000. Area retail includes Walgreens, Publix and CVS. For more information, contact Bill Bach, Sperry Van Ness – BBRI, 15638 Eastbourne Drive, Odessa, FL 33556; 813-926-8600, Fax 813-920-7943; Email: william.bach@svn.com; Web site: www.bbricommercial.com.
Marcus & Millichap is selling the following centers throughout TX: Valley Dale Crossing, a 3,950 sq.ft. center located on North Central Expressway in Dallas for $1.05 million with a Cap rate of 7.2%. The center is anchored by Auto Care Clinic and Hertz Rental; MJ Crossing, a 49,125 sq.ft. center located on North Town East Boulevard in Mesquite for $4.375 million with a Cap rate of 8%. The center is anchored by Prestige Furniture; Handsboro Square, a 156,544 sq.ft. center located on East Pass Road in Gulfport, MS for $8.1 million with a Cap rate of 8%. The center is anchored by Kmart and Sav-A-Center; Colleyville Towne Square, a 32,330 sq.ft. center located on Colleyville Boulevard in Colleyville for $7.7 million with a Cap rate of 7.7%; Lake June Retail Center, a 10,117 sq.ft. center located on Lake June Road in Dallas for $900,000 with a Cap rate of 9.75%; and The Shoppes at Lakeline Village, a 19,913 sq.ft. center located on Cypress Creek Road in Cedar Park for $5.5 million with a Cap rate of 8.27%. The center is shadow-anchored by Randall’s Grocery. For more information, contact Stephen Maulden, Marcus & Millichap, 14185 North Dallas Parkway, Suite 980, Dallas, TX 75254; 972-980-4800 Ext. 151, Fax 972-490-1501; Email: smaulden@marcusmillichap.com. |