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Buyers & Sellers
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Buyers & Sellers Kin Properties, Inc. acquires 50 sites annually. The company prefers freestanding locations, as well as highly leveraged properties with low or no cash flow. For more information, contact Lee Cherney, Kin Properties, Inc., 185 NW Spanish River Boulevard, Suite 100, Boca Raton, FL 33431; 561-620-9200, Fax 561-955-9921; Email: info@kinproperties.com.
Roadside Development, LLC is looking to acquire sites in DE, MD, NJ, PA and VA. The company prefers improved or unimproved sites from one acre to five acres. Preferred sites have an average daily traffic count of 25,000 vehicles. For more information, contact William S. Saslaff, Roadside Development, LLC, PO Box 10479, Baltimore, MD 21209; 410-435-7000, Fax 410-435-7502.
CB Richard Ellis/The Dalton Team is selling a Hollywood Video store in Cottage Grove, MN for $2.5 million with a Cap rate of 7%. The store is located in a Home Depot-anchored center. For more information, contact Gregory M. Dalton, CB Richard Ellis/The Dalton Team, 1512 Eureka Road, Suite 100, Roseville, CA 95661-3040; 916-781-4816, Fax 916-290-0444; Email: greg.dalton@cbre.com; Web site: www.daltonip.com.
Great Northern Realty Partners, LLC is selling a 4,096 sq.ft. site located on Main Street in Glastonbury, CT for $1.285 million with a Cap rate of 6.50%. The site is 100% occupied and is anchored by Dunkin’ Donuts and cotenanted by Great Cuts. The site has an average daily traffic count of 19,000 vehicles and an average household income of $72,000. For more information, contact William J. LaMontagne, Great Northern Realty Partners, LLC, 69 West Main Street, New Britain, CT 06051; 860-558-6895, Fax 860-223-1668; Email: wlamontagne@cox.net.
Paul Ash Management Co., LLC is selling the following centers throughout AZ: Sentry Square, a 24,167 sq.ft. center located on North 1st Avenue in Tucson for $2.475 million. The center is situated on a land area of 1.78 acres; and Vista Place, a 15,882 sq.ft. center located in West Fry Boulevard in Sierra Vista, AZ for $1.815 million. The center is situated on a land area of 1.184 acres and is 94.3% occupied. For more information, contact Gordon Wagner, Paul Ash Management Co., LLC, 1985 East River Road, Suite 101, Tucson, AZ 85718; 520-795-2100, Fax 520-795-9849; Email: gordonwrealty@theriver.com.
CBL & Associates Properties, Inc. is planning to acquire the following three malls from a group of investors advised by Eastdil Realty Co. for $516.9 million: Oak Park Mall in Overland Park, KS; Hickory Point Mall in Decatur, IL and Eastland Mall in Bloomington, IL. Oak Park Mall is located near Interstates 35 and 435 on West 95th Street. The 1.5 million sq.ft., two-level mall is currently 96.8% occupied and is tenanted by Ann Taylor, Aveda, Banana Republic, Crabtree & Evelyn, J. Crew, Rain Forest Café, Mimi’s Café, Outback Steakhouse, Ruby Tuesday’s, T.G.I. Friday’s and a freestanding AMC Theater. Anchors include Dillard’s North, Dillard’s South, Nordstrom, JCPenney and The Jones Store. Eastland Mall is located at the intersection of Business Interstate 55 and East Empire Street. The 737,000 sq.ft., single-level mall is anchored by Bergner’s, Famous-Barr, Kohl’s, JCPenney and Sears. Hickory Point Mall is located near U.S. Route 52 and Interstate 72. The 743,000 sq.ft. mall is anchored by Bergner’s, JCPenney, Kohl’s, Sears and Von Maur. The mall is currently 68% occupied. For more information, contact CBL & Associates Properties, Inc., CBL Center, Suite 500, 2030 Hamilton Place Boulevard, Chattanooga, TN 37421-6000; 423-855-0001 or 800.333.7310; Email: info@cblproperties.com.
The Cotswold Group is looking to acquire neighborhood and community shopping centers, enclosed malls up to one million sq.ft., as well as portfolios in trade-areas with at least 100,000 people along the East Coast. The company will consider candidates for redevelopment and institutional grade property with long-term leases. For more information, contact Robert Y. Shasha, The Cotswold Group, 229 Beechmont Drive, New Rochelle, NY 10804-4405; 914-654-0035, Fax 914-654-0188; Email: cotswold@aol.com.
The Goldstein Group is selling Plaza K, a 28,500 sq.ft. center located at the intersection of U.S. Route 1 and Ford Avenue in Woodbridge, NJ for $12 million with a Cap rate of 6.99%. The company also is selling a land area of 2.80 acres on Route 23 North in Kinnelon, NJ. Area demographics include a population of 272,406 within five miles earning $115,739 as the average household income. Area retail includes Mobil, Meineke, Goodyear, Marty’s Shoes, Avanti Restaurant, Stop & Shop, Rag Shop and Mandee. For more information, contact Wayne King or Chuck Lanyard, The Goldstein Group, 266 Harristown Road, Suite 105, Glen Rock, NJ 07452; 201-703-9700 Ext. 24/15; Web site: www.thegoldsteingroup.com.
Pennsylvania Real Estate Investment Trust and Simon Property Group entered into agreements under which PREIT and Kravco Simon Investments, L.P., a Simon affiliate, will acquire Springfield Mall in Springfield, PA for approximately $103.5 million. PREIT and Kravco Simon will each have a 50% ownership interest in the property. Springfield Mall is a 590,000 sq.ft. regional mall located approximately 10 miles southwest of Philadelphia, PA. The mall is currently anchored by Macy’s and Strawbridge’s and has more than 70 inline tenants, including Ann Taylor Loft, Build-A-Bear, Carrabba’s, Charlotte Russe, Gap/Gap Kids, Ruby Tuesday and Yankee Candle. For more information, contact Pennsylvania Real Estate Investment Trust, 200 South Broad Street, Philadelphia, PA 19102-3803; 215-875-0700, Fax 215-546-7311; Web site: www.preit.com.
Thor Equities is looking to acquire retail sites and mixed-use centers nationwide from $15 million and up. The company prefers sites in densely populated urban centers and inner-ring suburbs. For more information, contact James Peterson, Thor Equities, 139 5th Avenue, New York, NY 10010; 212-529-7253, Fax 212-460-9630; Email: jpeterson@thorequities.com; Web site: www.thorequities.com.
Advantis/GVA is selling the following properties: International Promenade, a 35,309 sq.ft. center located on West Irlo Bronswon Memorial Highway in Kissimmee, FL for $8.5 million with a Cap rate of 7.47%. The center is 89% occupied, is situated on a land area of 6.47 acres and has an average daily traffic count of 59,000 vehicles; Metrowest Shoppes & Restaurants, a 39,558 sq.ft. center located on Raleigh Street in Orlando, FL for $9.8 million with a Cap rate of 6.07%. The center is situated on a land area of 6.07 acres and has an average daily traffic count of 45,000 vehicles; Sand Lake Plaza, a 28,000 sq.ft. center located on West Sand Lake Road in Orlando, FL for $10.25 million with a Cap rate of 6.97%. The center is situated on a land area of 2.64 acres and has an average daily traffic count of 55,000 vehicles; Quincy Commons, a 14,888 sq.ft. center located on Pat Thomas Parkway in Quincy, FL for $2.6 million with a Cap rate of 7.15%. The center is situated on a land area of 1.7 acres; and Dora Canal Plaza, a 22,950 sq.ft. center located on South Duncan Street in Tavares, FL for $1.5 million with a Cap rate of 7.5%. The center is situated on a land area of 1.9 acres and is 100% occupied. For more information, contact Advantis/GVA, 255 South Orange Avenue, Suite 1350, Orlando, FL 32801; 407-849-6600, Fax 407-849-6010.
Jaime M. Weiss Realty Co., Inc. is selling Andover Diner, a restaurant located on Main Street in Andover, NJ for $1.995 million. The building is situated on a land area of 65,000 sq.ft. Area demographics include a population of 153,160 within 10 miles earning $75,684 as the average household income. The site has an average daily traffic count of 17,000 vehicles. For more information, contact Christopher Morgan, Jaime M. Weiss Realty Co., Inc., 250 Moonachie Road, Moonachie, NJ 07074; 201-814-1800, Fax 201-814-1811; Email: cmorgan@jweissrealty.com; Web site: www.jweissrealty.com.
GMAC Commercial Mortgage Corp. acquired Bella Terra Shopping Center, a 777,000 sq.ft. center located in Huntington Beach, CA. The property was acquired in joint venture with DJM Capital Partners, a real estate investment firm. Bella Terra is located on Edinger Drive and was originally developed as Huntington Beach Mall. It is now undergoing renovation and transformation. The center is anchored by Kohl’s, Barnes & Noble, Bed Bath & Beyond, Century Theaters, Circuit City, REI, Cost Plus, Mervyn’s and Staples. For more information, contact Jill C. Hindman, GMAC Commercial Mortgage Corp., 200 Witmer Road, Horsham, PA 19044; 215-328-1387, Fax 215-328-0352.
Marcus & Millichap Real Estate Investment Brokerage Co. is selling a Gottschalk’s department store located in Redding, CA for $10 million. The site is located on Hilltop Drive in the Hilltop Community Shopping Center, a 74,147 sq.ft. center situated on a land area of 6.76 acres. The company also is selling an Office Depot located in Eastpointe, MI for $4.605 million with a Cap rate of 7.75%. The company also is selling an Advance Auto Parts stores in Universal City, TX for $1.49 million with a Cap rate of 6.5%. The site has six years remaining on the base term. For more information, contact Marcus & Millichap Real Estate Investment Brokerage Co., 2999 Oak Road, Suite 210, Walnut Creek, CA 94597; 925-953-1700, Fax 925-953-1710; Web site: www.marcusmillichap.com. For more information regarding the Office Depot, contact Marcus & Millichap Real Estate Investment Brokerage Co., 28411 Northwestern Highway, Suite 750, Southfield, MI 48034; 248-415-2600; Email: woconnor@marcusmillichap.com; Web site: www.marcusmillichap.com/woconnor. For more information regarding the Advance Auto Parts store, contact Robert Hildebran, Marcus & Millichap, 1917 Lake Heron Lane, Boise, ID 83706; 208-433-9500.
Wilson Commercial Real Estate of Los Angeles participated in $42.3 million in retail property sales in southern CA and OK. Wilson Commercial and Sperry Van Ness represented the seller of Clairemont Village, a 127,000 sq.ft. center located on Clairemont Drive in San Diego, CA for $29 million. The buyer was Essel Enterprises, LLC, while the seller was Shooshani Developers. The property is anchored by Keils and Rite-Aid. In Huntington Park, CA, Wilson Commercial and Grubb & Ellis represented the seller of a 2,814 sq.ft. pad site located at the intersection of Slauson and State for $2.2 million. The buyer was Whitten Properties, LLC and the seller was UG Properties. The retail pad includes Starbucks and Subway and is located adjacent to Home Depot. In OK, Wilson Commercial, in partnership with CB Richard Ellis, negotiated the sale of two retail properties on behalf of the seller, The Uhlmann Offices, Inc. Regency Square, a 110,000 sq.ft. center located at the intersection of 52nd Street and U.S. Highway 62 in Lawton sold for $1.9 million. In Ada, OK, North Hills Centre, a 190,000 sq.ft. center located on Lonnie Bradford Boulevard, sold for $8.1 million. For more information, contact Wilson Commercial Real Estate of Los Angeles, 11601 Wilshire Boulevard, Suite 1650 Los Angeles, CA 90025; 310-473-4424, Fax 310-473-6747; Web site: www.wcre.net.
Stan Johnson Co. is selling a portfolio of nine Tire Kingdom properties with long-term leases located throughout GA, NC and SC. The properties are 100% leased to Tire Kingdom under an absolute NNN master lease for 21.5 years. For more information, contact Mike Cropper, Stan Johnson Co., Two Warren Place, 6120 South Yale, Suite 813, Tulsa, OK 74133; 918-494-2690.
Realty Investments, LLC is representing clients looking to acquire new or soon-to-be-built Walgreens locations nationwide from developers and direct brokers. The first client is looking to acquire a Walgreens portfolio, but will consider single/multiple deals and is seeking to acquire up to $40 million to $50 million as soon as possible. The second client is looking to acquire single/multiple Walgreens each week for several months. The targeted Cap rate is 6.5% and higher, but the clients may consider a slightly lower Cap rate. For more information, contact Edward J. Ostensoe, Realty Investments, LLC, 6800 Fleetwood Road, Suite 1112, McLean, VA 22101. Or contact the company at 1885 Desert Forest Way, Henderson, NV 89012; 703-587-0318, Fax 703-783-0217; Email: edwardostensoe@yahoo.com and nnninvestments@yahoo.com.
McCoon Commercial Real Estate is representing a client that is in need of a replacement property. The client is looking for multiple properties with a total price under $3 million. For more information, contact Don McCoon, McCoon Commercial Real Estate, 2853 Geer Road, Suite B, Turlock, CA 95382; 209-667-1174, Fax 209-667-1197; Email: propertylink@pacbell.net.
Palms Associates is looking to acquire 30 acres to 50 acres near retail centers in GA, MD, NC, SC, TN and VA. The company is seeking to acquire land for townhouse/apartment development near new and proposed retail sites. For more information, contact Ben Simon or Kevin Tucker, Palms Associates, 3400 Building, Suite 200, Virginia Beach, VA 23452; 757-340-3669, Fax 757-631-9155; Email: bsimon@palms.net.
Paramount Partners, LLC is representing a client looking to acquire retail centers or 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.
Coldwell Banker is selling Amityville Village, a 5,500 sq.ft. center located at the intersection of Route 110 and Broadway in Amityville, NY for $960,000. The center is currently 100% occupied. For more information, contact Lori Beldiny, Coldwell Banker, 631-422-7300 Ext. 1928; Email: lori.beldiny@coldwellbanker.com.
Steven D. Bell & Co. , in a joint venture with The Sembler Co., closed on the acquisition of a land area of approximately 80 acres at the intersection of Interstate 575 and Georgia Highway 20 in Canton, GA for the development of Canton Marketplace, a 695,000 sq.ft. center slated to open during mid-2007. The center will be anchored by Target and Lowe’s Home Improvement. For more information, contact Ed Harrington or Jon Bell, Steven D. Bell & Co., 300 North Greene Street, Suite 1000, Greensboro, NC 27401; 336-232-1900, Fax 336-232-1901.
Realty America Group is selling The Richland Centre, a 231,458 sq.ft. center located at the intersection of IH-280 and U.S. 183/U.S. 121 in North Richland Hills, TX. The center is situated on a land area of 21.213 acres and is tenanted by Barnes & Noble, Wherehouse Music, Sports Authority, Ashley Furniture Homestore, Bassett Furniture Direct and Infinity Leather. Area retail includes Northeast Mall, Garden Ridge, Washington Mutual, Sleep Experts, Haverty’s and T.G.I. Friday’s. For more information, contact Mart Martindale, Realty America Group, 4809 Cole, Suite 200, Dallas, TX 75205; 214-522-3300; Email: mmartindale@realtyamericagroup.com.
Betz Commercial Brokerage, Inc. is selling Rayford Square Shopping Center, a 79,986 sq.ft. center located at the intersection of Interstate 45 and Rayford Road in Spring, TX for $11.325 million with a Cap rate of 6%. The center is anchored by Academy Sports, Sherwin-Williams, Jack-In-The-Box and O’Reilly Auto Parts. Area demographics include a population within three miles earning $84,606 as the average household income. For more information, contact Larry Marks, Betz Commercial Brokerage, Inc., 4900 Woodway, Suite 815, Houston, TX 77056; 713-892-5015 Ext. 228, Fax 713-892-5300; Email: lamarks@att.net.
Horizon Realty Services, Inc. sold Burbank Plaza, a 23,341 sq.ft. center located at the intersection of 79th Street and State Road in Burbank, IL. The center is anchored by Walgreens. In addition to the sale of the center, a 10,458 sq.ft. outlot that fronts on 79th Street was sold to the same investor. Cotenants include Quizno’s, LA Tan, Furniture Express, Krisha’s Cleaners and Beauty Spot Hair Salon. For more information, contact Susan Winter, Horizon Realty Services, Inc., 3715 Ventura Drive, Suite 200, Arlington Heights, IL 60004; 847-870-8585; Email: admin@horizonrealtyservices.com; Web site: www.horizonrealtyservices.com.
Centurion Partners, LLC acquired 4.5 acres of land on Highway 160 at the new Stonecrest Boulevard in Tega Cay, SC. The property is located directly in front of a planned Wal*Mart Supercenter and residential/retail site that will make up the Stonecrest development. Centurion plans to develop this property as Graystone Crossing, and include an 18,000 sq.ft. mixed-use center at the rear of the site, along with an additional 11,000 sq.ft. of retail in two single-tenant build-to-suit projects. The center also will include tree-lined pedestrian walkways and upscale landscape features. Completion is slated for summer 2006. For more information, contact John Shell, Centurion Partners, LLC, 16930 West Catawba Avenue, Suite 205, Cornelius, NC 28031; 704-895-2120, Fax 704-895-2123; Email: jshell@centurionpartners.net; Web site: www.centurionpartners.net.
A private investor is selling a 7,800 sq.ft. NNN property in Bell, CA. Area demographics include a population of 333,000 within three miles. The site has a new 10-year lease with increases every five years. For more information, contact Yigal Hay, 9663 Santa Monica Boulevard, Suite 737, Beverly Hills, CA 90210-4303; 310-277-2226 Ext. 177, Fax 800-656-2066; Email: yigal@my26.com.
Grubb & Ellis is selling Copperwood Village, a 350,444 sq.ft. center located at the intersection of State Highway 6 North and FM 529 in Houston, TX. The center is anchored by Target and is tenanted by Marshalls, Bed Bath & Beyond, OfficeMax, Palais Royal, Michaels, Petco, Old Navy, Famous Footwear, Pier 1 Imports, Dress Barn, Party City, Rack Room Shoes, Lane Bryant, Avenue, Souper Salad, Bath & Body Works, Blockbuster Video, Starbucks and Verizon Wireless. Area demographics include a population of 112,574 within three miles earning $94,083 as the average household income. The site has an average daily traffic count of 53,000 vehicles. For more information, contact Grubb & Ellis, 1330 Post Oak Boulevard, Suite 1400, Houston, TX 77056; 713-599-5165, Fax 713-626-2288; Email: george.cushing@grubb-ellis.com; Web site: www.georgecushing.com.
Interinvestments Realty, Inc. is looking to acquire a land area of 20 acres in Dade and Broward Counties in FL. For more information, contact Micha Adir, Interinvestments Realty, Inc., 730 NW 107th Avenue, Suite 120, Miami, FL 33172; 305-220-1101, Fax 305-220-1195; Web site: www.prestruction.com.
Mid-America Real Estate Corp. brokered the sale of the following centers: Mercury Plaza, a 64,574 sq.ft. center located at the intersection of Ford Road and Mercury Drive in Dearborn, MI. The center was acquired by Kahl & Goveia Real Estate. The center is 100% occupied and is tenanted by Circuit City, PetsMart, Einstein Bros. Bagels and Blinds To Go. The center is comprised of three freestanding buildings on a land area of 8.06 acres; and Hillside Terrace, a 17,017 sq.ft. center located at the intersection of State Highway 83 and Interstate 94 in Delafield, WI. The buyer was General Capital Group, while the seller was Hayden Properties. The center is tenanted by EB Games, Chris & Co. Salon, Stone Creek Coffee, Quizno’s, ColdStone Creamery, Pizza Hut, Verizon Wireless and Verlo Mattress Factory. For more information, contact Mid-America Real Estate Corp., Two Mid-America Plaza, Third Floor, Oakbrook Terrace, IL 60181-4713; 630-954-7300, Fax 630-954-7304/7306; Web site: www.midamericagrp.com.
The Lundy Group is looking to acquire either an existing retail center or land zoned for a center in either northern GA, NC, SC or southern VA from $7 million to $65 million. For more information, contact The Lundy Group, PO Box 98329, Raleigh, NC 27624; 919-821-7890, Fax 919-821-2070; Email: kmcgann@lundygroup.com.
Sperry Van Ness completed the sale of a 12,205 sq.ft. retail property to Orchard Court Apartments, LLC and KP Oklahoma, LLC for $2.7 million. The center is located on South Meridian Avenue, near Interstate 40, in Oklahoma City, OK. The two-building property is situated on a land area of 3.07 acres and is 100% occupied by two major tenants, Panera Bread and Kona Ranch Steakhouse. The company also completed the sale of The Dover, a mixed-use property including apartments and retail components to Dover Tower, LLC for $3.5 million. The property is located on Beverly Boulevard, near the 101 Hollywood Freeway and the metro line, in Los Angeles, CA. For more information, contact David Ebeling or Megan Monfort, Sperry Van Ness, 18881 Von Karman, Suite 800, Irvine, CA 92612; 949-225-1883/1894, Fax 949-251-4126; Emails: david.ebeling@svn.com and megan.monfort@svn.com; Web site: www.svn.com.
Robert Stuart is working with an investment group that acquires all types of retail properties, from freestanding locations to malls nationwide. The group is looking for freestanding locations for $3.5 million and up. The group also will acquire portfolios, from smaller properties, such as drug stores and auto lube centers that are leased to credit tenants, to large shopping centers and malls. There is no maximum price. For more information, contact Bob Stuart, Robert Stuart, 13064 Bender Drive, Moreno Valley, CA 92553; 951-247-2426; Email: rubobstu@verizon.net.
Legend Properties, Inc. is selling a land area of 1.9 acres in Greenwich Township, NJ. The property has a liquor license, but can be sold without. The parcel is situated directly in front of Target and a Lowe’s Home Improvement-anchored center. The site has an average daily traffic count of 107,000 vehicles on Route 22. For more information, contact Melanie Stocker, Legend Properties, Inc., 1401 North Cedar Crest Boulevard, Suite 52, Allentown, PA 18104; 610-821-3977, Fax 610-821-5440.
DM International is representing a client looking to acquire a center in Miami-Dade, FL for between $20 million and $40 million. For more information, contact Dana Hall, DM International, 2829 Meadow Hill Drive North, Clearwater, FL 33761; 727-797-3188, Fax 727-797-4227; Email: danahall@ij.net; Web site: www.workoutloans.com.
Phase One Realty, Inc. is selling a 47,311 sq.ft. Associated Wholesale Grocers, Inc., NNN-leased property in Louisville, KY for $4.95 million with a Cap rate of 7.25%. The site has an absolute NNN lease and 19 years remaining. For more information, contact Robert H. Fippinger, Phase One Realty, Inc., PO Box 22865, Santa Fe, NM 87502 or 2011 Botulph Road, Santa Fe, NM 87505; 505-986-2942, Fax 505-988-5134; Email: rhf@phaseonerealty.com.
Kaplan Real Estate Co., Inc. represented the buyer, Hazelwood Showcase, LLC, in the acquisition of Hazelwood Showcase Plaza, a 100,000 sq.ft. center located in St. Louis, MO. Tenants include Hancock Fabrics and Dollar General. NAI Desco represented the seller, Schnuck Markets, Inc. The company also represented the seller, Robert Kaplan Trust, in the sale of an NNN leased Ponderosa restaurant in St. Peter’s, MO. For more information, contact Scott Bernstein, Kaplan Real Estate Co., Inc., 1000 Macklind Avenue, St. Louis, MO 63110; 314-652-7000, Fax 314-652-2228; Web site: www.kaplanrealestate.com.
Weichert Commercial Brokerage, Inc. is selling an 8,050 sq.ft. building located on Sullivan Trail in Plainfield Township, PA for $2.495 million. The company also is selling a 2,000 sq.ft. building located on Canistear Road in Highland Lakes, NJ for $850,000. The company also is selling a 6,500 sq.ft. building located on Washington Avenue in Belleville, NJ for $649,000. For more information, contact Cass Camarda, Weichert Commercial Brokerage, Inc., One West Broad Street, Suite 1020, Bethlehem, PA 18018; 610-861-9855, Fax 610-861-0564; Email: ccamarda@weichertcommercial.com; Web site: www.weichertcommercial.com.
Anchor Commercial Real Estate Services specializes in retail leasing, commercial brokerage, construction management, property management and retail and commercial development. The company currently has restaurant sites available, retail development opportunities and turnkey development. For more information, contact Michael D. Elmore or Will Sherrod, Anchor Commercial Real Estate Services, 126 Seven Farms Drive, Suite 110, Charleston, SC 29492; 843-352-0070/843-747-2292, Fax 843-747-1070.
CB Richard Ellis, Inc. is selling Creekside Plaza, a 7,407 sq.ft. center located at the intersection of South Highway 79 and Pechanga Parkway in Temecula, CA for $5.043 million with a Cap rate of 5.50%. The center is 100% preleased to four tenants and will be anchored by Starbucks. 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.cbre.com.
CMC Brokerage is selling a 35,000 sq.ft. Big Lots store in Cincinnati, OH for $1.9 million. The building is situated on a land area of 4.15 acres. For more information, contact Chris Nachtrab, CMC Brokerage, 10925 Reed Hartman Highway, Cincinnati, OH 45242; 513-984-3030, Fax 513-792-1248.
Colliers Lanard & Axilbund is selling a 20,460 sq.ft. site located on New Falls Road in Levittown, PA. The building is situated on a land area of 2.353 acres. Area retail includes Rite-Aid, Blockbuster Video, Citizen’s Bank and Giant. Area demographics include a population of 226,991 within five miles earning $62,556 as the average household income. For more information, contact Michael Barmash, Colliers Lanard & Axilbund, 399 Market Street, Philadelphia, PA 19106-2183; 215-928-7519, Fax 215-925-1040; Email: michael.barmash@colliers.com; Web site: www.colliers.com/philadelphia.
Quine & Associates, Inc. is offering a retail investment-sale/leaseback of an existing 2,500 sq.ft. single-tenant retail building located next to a supermarket-anchored center located in the Dallas, TX area for $1 million. The offering includes additional land for retail development or a pad site user. For more information, contact Douglas Wilder, Quine & Associates, Inc., 301 South Sherman, Suite 100, Richardson, TX 75081; 972-669-8440 Ext. 242, Fax 972-783-8901; Email: dwilder@quine.com.
Green Realty Co., LLC is representing a client looking to acquire one or two new or newer Walgreens locations or CVS locations. For more information, contact Michael L. Green, Green Realty Co., LLC, 1020 North Broadway, Milwaukee, WI 53202; 414-431-3700; Email: mgreen@nnnbroker.com.
Glatter Real Estate is selling Starbucks locations throughout the Midwest for between $1.1 million and $1.7 million. The stores occupy, on average, 1,800 sq.ft. and have 10-year terms with 10% increases commencing in year six. For more information, contact Herb Glatter, Glatter Real Estate, 5223 Riverfront Drive, Pittsburgh, PA 15238; 412-968-5895; Email: herb@glatter.biz.
SFC Enterprises is looking to acquire single-tenant, freestanding locations, power centers, malls and outlets throughout Monmouth and Ocean County, NJ for between $5 million and $10 million with Cap rates between 8% and 9%. For more information, contact Sal Cannizzaro, SFC Enterprises, 809 Highway 36, Union Beach, NJ 07735; 732-264-2005, Fax 732-264-0055.
Rein & Grossoehme sold Union Hills Plaza, a 9,008 sq.ft. center located at the intersection of 99th Avenue and Union Hills in Sun City, AZ for $1.25 million. The center was 46% occupied at the time of closing. For more information, contact Mark Rein, Rein & Grossoehme, 3900 East Camelback Road, Suite 408 North, Phoenix, AZ 85018; 602-954-7000, Fax 602-954-7001; Web site: www.high-yield.com.
Colliers International is selling a package of absolute net leased properties. The package includes 15 locations spread throughout the U.S. The tenants are all franchisees of nationally recognizable brands, including Jiffy Lube, Q Lube and Valvoline Instant Oil Change. For more information, contact Patrick Graham, Colliers International, 1300 Post Oak Boulevard, Suite 200, Houston, TX 77034; 713-830-2169; Email: pgraham@collierstexas.com.
Property Group International is representing several clients looking for properties nationwide for between $500,000 and $2 million. For more information, contact Ethan Alvidrez, Property Group International, 4695 MacArthur Court, 11th Floor, Newport Beach, CA 92660; 949-251-2024, Fax 949-606-0401; Email: ealvidrez@pgire.com; Web site: www.pgire.com.
Island Associates brokered the sale of a 140,000 sq.ft. center located at the intersection of Montauk Highway and Route 101 in Patchogue, NY for $8.2 million. For more information, contact Island Associates Real Estate, Inc., 444 Route 111, Suite 1, Smithtown, NY 11787; 631-982-2100, Fax 631-982-2101; Web site: www.islandassociates.com.
NAI Daus is selling an 89,000 sq.ft. Giant Eagle-anchored center located in Cleveland, OH with a Cap rate of 8%. For more information, contact Ronald Markowitz, NAI Daus, 3401 Enterprise Parkway, Suite 105, Beachwood, OH 44122; 216-831-3310 Ext. 127, Fax 216-831-9869; Email: rmarkowitz@naidaus.com.
Colorado Mountain Commercial is selling a center located in Gunnison, CO for $1.575 million. For more information, contact Thomas Morgan, Colorado Mountain Commercial, 246 East 1st Street, Salida, CO 81201; 719-539-1888, Fax 719-539-1999; Web site: www.coloradomountaincommercial.com.
Saad & Vallas Realty Group, LLC is selling a 16,595 sq.ft. strip center located in Mobile, AL for $3.62 million with a Cap rate of 7.5%. The center is shadow anchored by a Wal*Mart Supercenter. The center is situated on a land area of 1.86 acres and is tenanted by Payless Shoes, Rhino Video, Nextel, Firehouse Subs, All About Hair & Tan, Approved Cash Advance, Tender Touch and Boiling Point. For more information, contact Christie Amezquita, Saad & Vallas Realty Group, LLC, 3290 Dauphin Street, Mobile, AL 36606; 251-478-7223; Email: camezquita@saad.com; Web site: www.saad.com.
Millennium Properties, Inc. sold a 42,500 sq.ft. site located across from the Spring Hill Shopping Mall in Sleepy Hillow, IL. Sears Homelife subleases the building to John M. Smyth Homemakers. The site is located adjacent to Best Buy and Target. Millennium brokered the transaction of behalf of C&G Investments, Inc., the seller. Savanna Ridge acquired the property for $650,000. For more information, contact Millennium Properties, Inc., Two First National Plaza, 20 South Clark Street, Suite 630, Chicago, IL 60603; 312-338-3003.
Massell Commercial Real Estate is representing a client that is looking to acquire properties built within the past five years throughout the Atlanta, GA and Charlotte, NC areas, as well as southeastern areas near larger cities. The company prefers single-tenant industrial, office or retail properties with long-term leases in place with renewal options. Part of the cash is coming from a 1031 exchange. For more information, contact John S. Rosenberg, Massell Commercial Real Estate, 5600 Roswell Road, Suite 350 North, Atlanta, GA 30342; 404-255-6810 Ext. 13, Fax 404-252-3882; Email: j.rosenberg@massell.com.
Zar Property NY is looking to acquire anchored centers nationwide. The company prefers value-added opportunities below replacement cost and a minimum of 50,000 sq.ft. in NY and a minimum of 100,000 sq.ft. outside of NY. For more information, contact Zar Property NY, 49 West 37th Street, 10th Floor, New York, NY 10018; 212-944-7979, Fax 212-704-0462; Web site: www.zarproperty.com.
Tsunis Real Estate is looking to acquire freestanding locations, malls and strip, power and outlet centers throughout the eastern U.S. for $5 million with a Cap rate of 7%. The company prefers sites that are at least 80% occupied. For more information, contact George Tsunis, Tsunis Real Estate, 74 Veterans Memorial Highway, Hauppauge, NY 11788; 631-851-1000, Fax 631-851-1877; Email: gtsunis@aol.com.
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.
Kudan Group, Inc. is selling a site located on Bank Lane in Highwood, IL. The downtown redevelopment opportunity is located next to the Metra Station in Highwood’s central business district. Area retail includes Gabriels and Victoria Banquets. For more information, contact Kudan Group, Inc., 1807 Glenview Road, Suite 205, Glenview, IL 60025; 847-724-7454, Fax 847-724-6447.
Adams-Nelson and Associates is selling a land area of 0.47 acres on Valley Avenue in Winchester, VA for $875,000. The site is 100% occupied and is tenanted by Cruz-N-Wheels. For more information, contact Russell Clay, Adams-Nelson and Associates, 303 South Loudoun Street, Winchester, VA 22601; 540-667-2424, Fax 540-667-2441; Email: russellclay@adamsnelson.com.
Williams Realty Group is looking to acquire sites with value-added potential throughout the Midwest, with a focus on St. Louis, MO; Columbus, OH; Lansing, MI; Chicago, IL and IN for $3 million with a Cap rate of 9.25%. The company prefers sites with a GLA of 15,000 sq.ft. to 100,000 sq.ft. For more information, contact Ron Bell, Williams Realty Group, 9830 Bauer Drive, Indianapolis, IN 46280; 317-574-5480, Fax 317-829-2052; Email: twood@wr-group.com.
Commercial Brokerage Corp. is selling Wichita Falls Shopping Center, a 22,003 sq.ft. center located on Central Freeway North in Wichita Falls, TX for $3.5 million. The center is currently 100% leased and is tenanted by Radio Shack, Fashion Bug, Dollar Tree, GameStop and Pro-Cuts. The center is situated on a land area of 2.56 acres. For more information, contact Cheri White, Commercial Brokerage Corp., 1452 Hughes Road, Suite 200, Grapevine, TX 76051; 817-912-3737, Fax 817-912-3770; Email: cheri.ccim@usa.com.
Aegis Realty Partners, Inc. is representing a client looking to acquire strip centers east of the Mississippi River. The client prefers sites from 8,000 sq.ft. to 30,000 sq.ft. with an occupancy of 60% or higher, but not fully occupied. The company also is looking for older repositioning plays and re-tenanting situations. For more information, contact Rick Dimidjian, Aegis Realty Partners, Inc., 3445 Butler Street, Pittsburgh, PA 15201; 412-770-9157, Fax 412-291-3076; Email: rdimidjian@aegisrealtypartners.com.
Mid-States Development, Inc. is selling SouthRidge Center, a 65,000 sq.ft. supermarket-anchored strip center located in Rice Lake, WI for $6.575 million. The center is situated on a land area of five acres and is 100% occupied. Area retail includes Wal*Mart, Shopko, Menards, Kmart and Cedar Mall. For more information, contact David K. Sanders, Mid States Development, Inc., 2160 EastRidge Center, Eau Claire, WI 54701; 715-833-2225, Fax 715-833-0808; Email: dsanders@midstatesdevelopment.com.
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