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Buyers & Sellers
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Buyers & Sellers Marcus & Millichap – Ontario Office sold a 2,380 sq.ft. Popeyes Chicken & Biscuits restaurant located in Bear Valley Road in Hesperia, CA for $1.83 million with a Cap rate of 6.01%. For more information, contact Donald Emas or Kevin Boeve, Marcus & Millichap – Ontario Office, 3281 East Guasti Road, Suite 800, Ontario, CA 91761; 909-605-1800, Fax 909-605-1821; Emails: kboeve@marcusmillichap.com and demas@marcusmillichap.com.
CB Richard Ellis, Inc. is selling an 8,580 sq.ft. site located on East State Street in Redlands, CA for $2.95 million with a Cap rate of 6.34%. Demographics include a trade-area population of 68,307 earning $69,079 as the average household income. The company also is selling Canyon Country Plaza, a 51,874 sq.ft. center located on Sierra Highway in Santa Clarita, CA for $14.495 million with a Cap rate of 6.31%. The center is 100% leased and is tenanted by Boot Barn, Subway, 7-Eleven, Arby’s, Conroy’s Flowers, Allstate Insurance and Curves For Women. Area demographics include a population of 72,004 within three miles earning $76,720 as the average household income. For more information, contact Rick Strack, Patrick Toomey or Pat Scruggs, CB Richard Ellis, Inc., 3501 Jamboree Road, Suite 100, Newport Beach, CA 92660; 949-725-8529/8507/8520, Fax 949-725-8545; Emails: phil.voorhees@cbre.com, patrick.toomey@cbre.com and pat.scruggs@cbre.com.
Lic Commercial is representing a client looking to acquire 1,000 sq.ft. of retail space in a high-traffic center located in West Kendall, FL. The client also is looking to acquire centers. For more information, contact Mike McHugh, Lic Commercial, 126 Aragon Avenue, Coral Gables, FL 33134; 305-442-4740, Fax 305-442-4693.
Zar Property NY is looking to acquire anchored centers nationwide. The company is seeking both stable and redevelopment opportunities and is actively looking to expand its portfolio. For more information, contact Zar Property NY, 49 West 37th Street, New York, NY 10018; 212-944-7979, Fax 212-704-0462; Emails: david@zarpropertyny.com and simon@zarpropertyny.com.
KAM Realty is selling a 12,000 sq.ft. NNN leased retail building located at the intersection of Bear Valley Road and Interstate 15 Freeway in Victorville, CA for $6.42 million. The site is 100% leased to national and regional tenants and has an average daily traffic count of 45,700 vehicles. For more information, contact Yury Ferkelman, KAM Realty, 8730 Wilshire, Suite 415, Beverly Hills, CA 90211; 310-659-7999, Fax 310-659-4396; Email: yuryf@comcast.net.
Net Leased Investment Co. is selling a Linens ‘N Things in Newport News, VA for $6.9 million. For more information, contact Bill Ellison, Net Leased Investment Co., 120 Alexandria Boulevard, Suite 18, Oviedo, FL 32765; 407-977-2448, Fax 407-977-0775; Email: bill@netleased.com;.
Columbus Commercial Realty is selling a 15,330 sq.ft. center located in Columbus, OH for $3.9 million with a Cap rate of 9%. The center is tenanted by Starbucks. The company also is selling a 16,916 sq.ft. center located in Columbus, OH for $3.925 with a Cap rate of $3.925 million. Area retail includes Kohl’s, Meijer and Home Depot. For more information, contact Kevin T. James, Columbus Commercial Realty, 300 East Broad Street, Suite 500, Columbus, OH 43215; 614-280-4817, Fax 614-233-5917.
Signature Associates-ONCOR International negotiated the sale of 9,648 sq.ft. of retail space located on South Merriman in Westland, MI. For more information, contact Justin Gaffrey, Signature Associates-ONCOR International, One Towne Square, Suite 1200, Southfield, MI 48076; 248-948-9000.
J.L. Nelms Real Estate is selling several Advance Auto buildings with leases of 15 years throughout the upper Midwest. All rents are capped at 7% and prices range from $1.2 million to $1.9 million. For more information, contact Jim Nelms, J.L. Nelms Real Estate, 5604 Wedgmont Circle North, Fort Worth, TX 76133; 817-370-6370, Fax 817-615-3504; Email: jnelms@airmail.net.
Turner & Associates Realty, Inc. is selling a 72,000 sq.ft. center located in Hazelhurst, GA. The center is anchored by Food Lion and is tenanted by CVS, Dollar General, BC Moore, Pizza Hut and Sun N Fun. For more information, contact Monte Turner, Turner & Associates Realty, Inc., 4301 Hillsboro Pike, Suite 210, Nashville, TN 37215; 615-383-7878, Fax 615-383-9878; Email: turnerandassociates@comcast.net.
Eastern Net Lease Advisors is looking to acquire strip centers and freestanding buildings in secondary markets throughout New England for between $500,000 and $5 million. The buildings must be between 5,000 sq.ft. and 30,000 sq.ft. and be situated on land areas from 0.5 acres to 20 acres. The company will consider short-term leases, joint ventures and partnership opportunities. For more information, contact Michael R. O’Mara, Eastern Net Lease Advisors, 21 Oak Street, Medway, MA 02053; 508-321-1422, Fax 508-321-1344; Email: mike@eastern1031.net.
Paramount Partners, LLC is representing a client looking to acquire retail centers of single-tenant net-leased properties for up to $14 million. The client is looking for sites primarily in the Northeast, but will consider locations nationwide. For more information, contact Mike d’Hemecourt, Paramount Partners, LLC, 25 Garden Park, Braintree, MA 02184; 781-848-1550 Ext. 24, Fax 781-848-4980; Email: mdhemecourt@paramountpartners.com; Web site: www.paramountpartners.com.
Colliers International is selling an 18,798 sq.ft. multi-tenant center located at the intersection of North Closner Boulevard and Schunior Road in Edinburg, TX for $1.95 million with a Cap rate of 8.2%. The center is currently 90% occupied. For more information, contact David M. Butler, Colliers International, 1300 Post Oak Boulevard, Suite 200, Houston, TX 77056; 713-830-2105, Fax 713-986-4405; Email: dbutler@collierstexas.com.
Inland Western Retail Real Estate Trust, Inc. acquired the 628,626 sq.ft. retail portion of Phase 1 of The Gateway Shopping Center located in Salt Lake City, UT. Many of the center’s 95 stores and restaurants are located in the 650,000 sq.ft., open-air mixed-use space. Tenants include Dick’s Sporting Goods, Barnes & Noble, Virgin Megastore, Abercrombie & Fitch, Hollister, Z Gallerie, Banana Republic, J. Jill, California Pizza Kitchen, Anthropologie, Sur La Table, Coldwater Creek, Megaplex 12 and Clark Planetarium. For more information, contact Inland Western Retail Real Estate Trust, Inc., 2901 Butterfield Road, Oak Brook, IL 60523; 630-218-8000.
Sperry Van Ness sold a land area of 38 acres of land for redevelopment at the intersection of Airport Road and Route 22 in Allentown, PA for $9.473 million on behalf of Airport Centers, LLC. The buyer is planning to redevelop the property into a retail center that will have a GLA of more than 500,000 sq.ft. For more information, contact David Ebeling or Megan Monfort, Sperry Van Ness, 18881 Von Karman Avenue, Suite 800, Irvine, CA 92612; 949-225-1894, Fax 949-553-1697; Emails: david.ebeling@svn.com and megan.monfort@svn.com.
Realty Investments, LLC is representing a client looking to acquire ground leases nationwide from $10 million to $100 million with a Cap rate of 6%. The client prefers leases of 10 years, but may consider shorter terms. For more information, contact Edward J. Ostensoe, Realty Investments, LLC, 6800 Fleetwood Road, Suite 1112, McLean, VA 22101; 703-587-0318, Fax 703-783-0217; Emails: edwardostensoe@yahoo.com and nnninvestments@yahoo.com.
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