|
Buyers & Sellers
|
|
|
Buyers & Sellers Roadside Development, LLC is selling a land area of 60,000 sq.ft. at the intersection of Interstate 95 and MD Route 24 in Bel Air, MD. Area retail includes Wal*Mart, Target and BJ’s Wholesale Club, as well as a movie theater and a future major home improvement store. The company also is selling two corner parcels in Fairfax County, VA. For more information, contact Roadside Development, LLC, PO Box 10479, Baltimore, MD 21209; 410-435-7000, Fax 410-435-7502.
Cedarwood Development, Inc. is looking to acquire vacant land or existing shopping centers with expansion and re-leasing opportunities throughout the East Coast, with a focus on the Mid-Atlantic region. The company requires a land area of 15 to 80 acres or centers with 150,000 sq.ft. of GLA to 750,000 sq.ft. of GLA. For more information, contact David V. Ferron, Cedarwood Development, Inc., 9 Loving Terrace, Lake Monticello, VA 22963; 434-591-0004, Fax 434-591-0054.
CB Richard Ellis, Inc. is selling Starbucks Plaza, a 3,824 sq.ft. center located at the intersection of South Valencia and Imperial Highway in Brea, CA for $2.545 million with a Cap rate of 5.59%. Area demographics include a population of 103,000 within three miles earning $80,512 as the average household income. 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.
Grubb & Ellis Co. is selling Dynasty Center located along North Broadway Boulevard in Los Angeles, CA for $25 million with a Cap rate of 8.45%. The center is 100% occupied and has over 100 tenants. Area demographics include a population of 1.2 million within three miles. For more information, Elizabeth Minihane, Grubb & Ellis Co., 1100 Glendon Avenue, Suite 900, Los Angeles, CA 90024; 310-477-3800, Fax 310-478-9478; Email: elizabeth.minihane@grubb-ellis.com; Web site: www.lmpri.com.
JBG Rosenfeld Retail acquired Montgomery Village Plaza, a 113,000 sq.ft. center located at the intersection of Lost Knife and Contour Road in Gaithersburg, MD. The center is anchored by Trader Joe’s and Marshalls and is tenanted by Blockbuster Video, Dollar Tree and Jennifer Convertibles. 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.
Combined Properties acquired The Commons at La Verne, a 105,584 sq.ft. center located at the intersection of Foothill Boulevard and Wheeler Avenue in La Verne, CA. Combined is planning to redevelop and expand the site, with construction scheduled to begin during the first quarter of this year. Most of the existing structure will be demolished and will be redeveloped to have a GLA of 130,000 sq.ft. For more information, contact Combined Properties, 1255 22nd Street NW, Suite 600, Washington, DC 20037; 202-293-4500, Fax 202-833-3013. Or contact the company at 9744 Wilshire Boulevard, Suite 420, Beverly Hills, CA 90212; 310-205-9616, Fax 310-271-9770.
Equity Properties is selling the following sites throughout PA: a 3,101 sq.ft. building located on Paoli Pike in West Chester; a land area of 2.25 acres at the intersection of Horsham and Dresher Roads in Horsham Township; an 80,000 sq.ft. site for a proposed supermarket at the intersection of 17th Street and Allegheny Avenue in Philadelphia; a land area of 1.25 acres at the intersection of 19th Street and West Hunting Park Avenue in Philadelphia and a land area of 1.95 acres at Franklin Mills located on Franklin Mills Circle in northeast Philadelphia for $950,000. Area retail includes Bed Bath & Beyond, Boscov’s, Burlington Coat Factory, Marshall’s and Modell’s. For more information, contact Equity Properties, 600 Haverford Road, Suite 204, Haverford, PA 19041; 610-645-7700, Fax 610-645-5454.
Marcus & Millichap National Retail Group is selling Plaza K, a 28,432 sq.ft. center located on U.S. Highway 1 South in Woodbridge, NJ for $9.6 million with a Cap rate of 6.06%. All tenants have NNN leases with yearly increases. Area demographics include a population of 327,000 within five miles earning $74,000 as the average household income. Tenants include Jennifer Leather, Sleepy’s, Vitamin Shoppe and Champion Fitness Center. The center is situated on a land area of two acres. The company also is selling Loudon Plaza, a 61,461 sq.ft. center located at the intersection of Northern Boulevard and Route 9 in Albany, NY for $5 million with a Cap rate of 7.9%. The center is 88% occupied and is tenanted by Trustco Bank and Mr. Subb. For more information, contact Steven Siegel or Scott Plasky, Marcus & Millichap National Retail Group, 270 Madison Avenue, 19th Floor, New York, NY 10016; 212-832-4500, Fax 212-937-2425; Emails: splasky@marcusmillichap.com and ssiegel@marcusmillichap.com; Web site: www.marcusmillichap.com.
The Shopping Center Group is selling the following three supermarket-anchored centers: Lilburn Marketplace, a 146,113 sq.ft. center located at the intersection of U.S. 29 and Indian Trail Road in Atlanta, GA. The site has an average daily traffic count of 56,000 vehicles. The center is anchored by Winn-Dixie and Save Rite. Area demographics include a population of 83,755 within three miles; Chapman Commons, a 77,605 sq.ft. center located in Knoxville, TN. The center is 100% occupied and is anchored by Bi-Lo and Ahold. Area demographics include a population of 43,435 within three miles. The site has an average daily traffic count of 33,000 vehicles; and Center @ Sunset, an 80,533 sq.ft. center located at the intersection of U.S. 301 and U.S. 64 in Rocky Mount, NC. The site has an average daily traffic count of 47,000 vehicles. The center is anchored by Save-A-Lot and Office Depot. Area demographics include a population of 38,638 within three miles earning $49,771 as the average household income. For more information, contact Mark D. Cooley, The Shopping Center Group, 3101 Towercreek Parkway, Suite 200, Atlanta, GA 30339; 770-738-2471, Fax 770-951-0054; Email: markc@theshoppingcentergroup.com; Web site: www.theshoppingcentergroup.com.
The Goldstein Group is selling a land area of 5.93 acres on Paterson-Hamburg Turnpike in Wayne, NJ with an average daily traffic count of 20,000 vehicles. The site is adjacent to a 160-unit luxury townhouse development. Area retail includes Macy’s, Starbucks, Burger King, Stop & Shop, Blockbuster Video, Cost Cutters, Radio Shack, Wendy’s and CVS. Area demographics include a population of 195,156 within five miles earning $106,701 as the average household income. The company also is selling a land area of 1.3 acres on Route 46 West in West Paterson, NJ. Area retail includes A&P, Bob’s, Kohl’s, Toys “R” Us, 6th Avenue Electronics, Chili’s, Circuit City and Best Buy. Area demographics include a population of 539,463 within five miles earning $79,852 as the average household income. For more information, contact Chuck Lanyard, The Goldstein Group, Glen Rock Plaza, 266 Harristown Road, Suite 105, Glen Rock, NJ 07452; 201-703-9700 Ext. 15; Email: clanyard@thegoldsteingroup.com; Web site: www.thegoldsteingroup.com. |