|
Buyers & Sellers
|
|
|
Buyers & Sellers CBL & Associates Properties, Inc. closed on the acquisition of the former Fairfield Mall site located at the intersection of Route 33 and the Massachusetts Turnpike in Chicopee, MA for $4.3 million. The company acquired the 23-acre property from Fairfield Mall Limited Partnership. The center is currently 75% preleased to tenants such as Marshalls, Staples, i-Party and Sleepy’s. For more information, contact CBL & Associates Properties, Inc., 2030 Hamilton Place Boulevard, Suite 500, Chattanooga, TN 37421-6000; 423-855-0001, Fax 423-490-8390; Web site: www.cblproperties.com.
REZA Investment Group completed the sale of Westmont Plaza, a 78,815 sq.ft. center located at the intersection of Western Avenue and Westmont Drive in Rancho Palos Verdes, CA on behalf of Donahue Schriber Realty Group, L.P. for $11.62 million. The center is situated on a land area of 5.9 acres and is anchored by Smart & Final. Cotenants include Coco’s Bakery Restaurant, Helen Grace Chocolates, Hallmark and Wells Fargo Bank. For more information, contact Paige Carratturo, REZA Investment Group, 3 Park Plaza, Suite 550, Irvine, CA 92614; 949-271-1167, Fax 949-833-3382; Web site: www.gowithreza.com.
Stoltz Real Estate Fund 1, L.P., in a joint venture with Pacific Coast Capital Partners, LLC, has acquired The Shops at Las Americas in southern San Diego, CA. The Shops at Las Americas is a 560,000 sq.ft. outlet and fashion center located at the border crossing bridging San Diego and Tijuana. In addition to the center’s existing tenant mix, construction is presently under way on the second phase, which will feature such retailers as Last Call, Neiman Marcus, Polo, Coach and Kenneth Cole. The expansion is slated to open during May. For more information, contact Stoltz Real Estate Partners, 725 Conshohocken State Road, Bala Cynwyd, PA 19004; 610-667-5800, Fax 610-664-1976; Web site: www.stoltzusa.com.
Grubb & Ellis Co. – Houston represented BDC, L.P. in the sale of Kerrville Junction Shopping Center, a 36,446 sq.ft. center located in Kerrville, TX to Amiran Partners, L.P. The center is currently 97% leased and is tenanted by Pier 1 Imports, Cato, CiCi’s Pizza, Payless ShoeSource, Sally Beauty Supply, Friedman’s Jewelers, Great Clips, Marble Slab, Morgan Stanley and EB Games. For more information, contact George Cushing, Grubb & Ellis – Houston, 1330 Post Oak Boulevard, Suite 1400, Houston, TX 77056-3017; 713-599-5165, Fax 713-626-2288; Email: george.cushing@grubb-ellis.com.
JBG Rosenfeld Retail acquired Twinbrook Square, a 93,000 sq.ft. center located at the intersection of Maryland Route 355 and Twinbrook Parkway in Rockville, MD. The center is adjacent to the Twinbrook Metro Station and is tenanted by Ethan Allen, Scan Furniture, GrandBank and International Carpet and Rugs. The center is currently 100% leased. For more information, contact JBG Rosenfeld, 4445 Willard Avenue, Suite 700, Chevy Chase, MD 20815; 301-657-0700, Fax 301-657-9850; Web site: www.jbgr.com.
Lighthouse Commercial Realty, LLC represented Leland Retail Investors, LLC in the sale of a 13,824 sq.ft. Eckerd drug store located at the intersection of U.S. Highways 17 and 74 in Leland, NC. The company also represented Fairview Investors, LLC in the sale of a 14,616 sq.ft. Eckerd drug store located at SouthPark Mall in Charlotte, NC. For more information, contact Troy A. Legge, Lighthouse Commercial Realty, LLC, 301 South McDowell Street, Suite 504, Charlotte, NC 28204; 704-334-8040, Fax 704-334-8071; Email: tlegge@lighthousecommercial.com; Web site: www.lighthousecommercial.com.
Pomerleau Real Estate is selling a 3.58-acre site located on Shelburne Road in Shelburne, VT for $2.385 million. The site has an average daily traffic count of 22,700 vehicles. The building is tenanted by Collette’s Furniture Mall, which occupies the upper level consisting of 16,150 sq.ft. and Collette’s Climate Controlled Storage. The company also is selling Parima Thai, a 7,000 sq.ft. restaurant located on Pearl Street in Burlington, VT for $850,000. The two-level building also includes an outdoor courtyard, a separate two-unit apartment building, large office space on the balcony level and a fully-equipped restaurant kitchen. For more information, contact Charlie Poulin or John Rao III, Pomerleau Real Estate, 69 College Street, PO Box 6, Burlington, VT 05402; 802-863-8210, Fax 802-863-8219; Emails: cpoulin@vermontrealestate.com, jrao@vermontrealestate.com.
Ramsey Real Estate Group sold Main Street Square, a center located in downtown Seal Beach, CA for $3.9 million. The 8,550 sq.ft. building is located on Main Street. The property was 100% leased at the close. Tenants include Javatinis Espresso, Rasmataz Treasures, Verizon Wireless, Barbara’s Beauty, Prime Time Fitness and Caribbean Tans. For more information, contact Jeffrey T. Ramsey, Ramsey Real Estate Group, PO Box 2248, La Jolla, CA 92038-2248; 858-459-4410; Web site: www.rreg.com.
Quine Associates, Inc. is selling the following centers throughout Fort Worth, TX: Long & Main, a 105,445 sq.ft. center situated on a land area of 7.887 acres and Camp Bowie Center, a 45,490 sq.ft. located on Camp Bowie. The purchase price of the centers is $8.25 million. Area demographics for Long & Main include a population of 72,853 within three miles earning $42,561 as the average household income, while area demographics include Camp Bowie Center include a population of 81,799 within three miles earning $58,240 as the average household income. For more information, contact Coy Quine, Quine Associates, Inc., PO Box 833009, Richardson, TX 75083-3009; 972-669-8440 Ext. 223, Fax 972-783-8901; Email: cquine@quine.com; Web site: www.quine.com.
SCI Real Estate Investments acquired Country Village Shopping Center located in Rancho Cucamonga, CA for $16.852 million with a Cap rate of 6.07%. The 88,839 sq.ft. center is currently 98% occupied and is anchored by Stater Bros., Bank of America and Carl’s Jr. For more information, contact SCI Real Estate Investments, 11620 Wilshire Boulevard, Suite 300, Los Angeles, CA 90025; 310-470-2600; Fax 310-470-6609; Email: abryan@sciproperties.com; Web site: www.sciproperties.com.
Lynch Realty Group, LLC is selling a 5,066 sq.ft. Blockbuster Video located in Union Township, OH for $1.23 million with a Cap rate of 8.5%. For more information, contact Lynch Realty Group, LLC, 20 South Clark, Suite 850, Chicago, IL 60603; 312-456-9620, Fax 312-456-9626; Email: info@lynchrealtygroup.com.
Retail Realty, LLC is selling an 800 sq.ft. building located at the intersection of Sunrise Highway and Green Acres Road in Valley Stream, NY. The site has an average daily traffic count of 48,498 vehicles. Area retail includes Macy’s, Target, Sears, Toys “R” Us, Babies “R” Us, JCPenney and Modell’s. Area demographics include a population of 277,277 within three miles earning $90,245 as the average household income. The company also is selling a 28,026 sq.ft. lot located at the intersection of Sunrise Highway and Hicksville Road in Massapequa, NY. Area demographics include a population of 19,000 within one mile earning $112,886 as the average household income. For more information, contact Daryl Sealy, Retail Realty, LLC, 525 Northern Boulevard, Suite 310, Great Neck, New York 11021; 516-829-8600 Ext. 235, Fax 516-829-5858; Email: dsealy@retailrealty.com; Web site: www.retailrealty.com.
BT Commercial Real Estate is selling a 27,850 sq.ft. building located on Santa Rosa Avenue in Santa Rosa, CA for $3.95 million. The site has an average daily traffic count of 30,000 vehicles. For more information, contact Paul Gonzalez or Craig Cosentino, BT Commercial Real Estate, 1400 North Dutton Avenue, Suite 5, Santa Rosa, CA 95401; 707-360-1300, Fax 707-360-1350; Emails: tpgonzalez@btcommercial.com and ccosentino@btcommercial.com; Web site: www.btcommercial.com.
Marcus & Millichap Real Estate Investment Brokerage Co. represented Dollarland Holdings in the sale of three Family Dollar stores with a total GLA of 38,000 sq.ft. to Adar Holdings. The stores are located on Ridge Avenue in Philadelphia, PA; Friendly Plaza located on Frankford Avenue in Philadelphia, PA and on West Avenue in Woodstown, NJ. The sales price was $2,239,500. The company also represented Dunn Properties Ltd. in the acquisition of a 7-Eleven store located on West High Street in Stowe, PA. For more information, contact Jeffrey Algatt, Marcus & Millichap Real Estate Investment Brokerage Co., 1628 JFK Boulevard, Suite 1200, Philadelphia, PA 19103; 215-557-0900, Fax 215-557-0966; Web site: www.marcusmillichap.com.
Equity One Realty Management, Inc. completed the acquisition of six supermarket-anchored centers located in the Boston, MA area for $119.8 million. The centers have a combined GLA of 390,979 sq.ft. and are located in Cambridge, Medford, Plymouth, Quincy, Swampscott and West Roxbury. Five of the properties are anchored by Shaw’s Supermarkets and one Whole Foods. All six properties are fully leased. For more information, contact Equity One Realty Management, 1696 NE Miami Garden Drive, North Miami Beach, FL 33179; 305-672-1234, Fax 305-672-6606 Email bmiller@equityone.net.
Kowit & Passov Real Estate Group is marketing French Creek Square, an 80,000 sq.ft. development located at the intersection of Route 83 and Detroit Road in Avon, OH. The center is tenanted by Bob Evans, Fifth Third Bank, Moe’s Southwest Grill, Cici’s Pizza, Malley’s Chocolates, Cousin’s Cigar, Cold Stone Creamery, Quiznos Sub, Dryclean USA, GameStop, Curves and House of Bread. The center has spaces available of 1,200 sq.ft. to 6,200 sq.ft. For more information, contact Jared Miller or Tori Rendano, Kowit & Passov Real Estate Group, 25200 Chagrin Boulevard, Suite 300, Beachwood, OH 44122; 216-514-5100, Fax 216-514-5106; Emails: jmiller@kowitpassov.com and trendano@kowitpassov.com.
NewBridge Retail Advisors, Inc. served as advisor in the sale of Randall Park Mall by CDC Randall Park Mall Trust to NSC New Markets, LLC and Southern Properties, Inc. The 1.4 million sq.ft. mall is located at the intersection of Interstate 480 and Highway 422 in the Cleveland, OH area. Tenants include Sears, Kaufmann’s, Burlington Coat Factory and Magic Johnson’s/Lowe’s Theaters. The property was 60% occupied at the time of the sale with two vacant department store boxes. For more information, contact Gary Saykaly, NewBridge Retail Advisors, Inc., Royal Centre One, 11675 Great Oaks Way, Suite 135, Alpharetta, GA 30022; 678-802-6500, Fax 678-802-6588.
Regency Centers closed on the acquisition of King Farm Village Center located in Rockville, MD from King Farm Shopping Center Associates, LLC. The center is located in the heart of King Farm, a 430-acre master-planned community. At completion, King Farm will contain over 3,200 housing units, three million sq.ft. of office space, 118,588 sq.ft. of retail, two schools and numerous parks. The center is anchored by Safeway and is tenanted by Baja Fresh Mexican Grill, Aveda Day Spa, Curves For Women, Chevy Chase Bank, Quizno’s, Maggie Moo’s Ice Cream and Verizon Wireless. For more information, contact Regency Centers, 121 West Forsyth Street, Suite 200, Jacksonville, FL 32202; 904-598-7000, Fax 904-634-3428; Web site: www.regencycenters.com.
The Shopping Center Group is selling the following properties: a 14,550 sq.ft. Walgreens in Greenville, SC for $4.463 million with a Cap rate of 6.75%; a 28,479 sq.ft. Regal Cinemas in Marietta, GA for $3 million; a 55,000 sq.ft. Service Merchandise in Morrow, GA for $2.5 million; a 15,120 sq.ft. Walgreens in Arlington, TN for $4.146 million with a Cap rate of 7%; a CVS in Talladega, AL for $700,000; a Blockbuster Video in Rome, GA for $1.1 million with a Cap rate of 7.27%; and Lilburn Marketplace, a 149,113 sq.ft. center located in Atlanta, GA for $15 million. For more information, contact The Shopping Center Group, 3101 Towercreek Parkway, Suite 200, Atlanta, GA 30339; 770-955-2434, Fax 770-951-0054.
Pomerleau Real Estate is selling a land area of 24.9 acres on Route 7 in Rutland, VT for $550,000. The site includes 15 acres to 16 acres of developable land. For more information, contact Charlie Poulin, Pomerleau Real Estate, 69 College Street, PO Box 6, Burlington, VT 05402; 802-863-8210; Email: cpoulin@vermontrealestate.com.
Grubb & Ellis Co. is selling the following centers: Oyster Creek Center, a 31,769 sq.ft. center located at the intersection of Oyster Creek Drive and State Highway 228 in Lake Jackson, TX for $3.58 million with a Cap rate of 9.24%. The center is tenanted by Applesway Restaurant and The Strawberry Patch; and Uvalde @ Woodforest Shopping Center, an 8,800 sq.ft. center located at the intersection of Woodforest Boulevard and Uvalde Road in Houston, TX for $2.34 million with a Cap rate of 7.75%. The center is anchored by EB Games, Little Caesar’s Pizza, Cash America and Cellmart/AT&T Wireless. For more information, contact Paula Foster, Grubb & Ellis Co., 1330 Post Oak Boulevard, Suite 1400, Houston, TX 77056; 713-599-5149, Fax 713-626-2288; Email: paula.foster@grubb-ellis.com; Web site: www.grubb-ellis.com. |