|
Buyers & Sellers
|
|
|
Buyers & Sellers Cedar Shopping Centers, Inc. is planning to acquire Kenley Village and St. James Square Shopping Center for a combined price of $8.3 million. Both centers are in Hagerstown, MD and are anchored by Food Lion supermarkets. Cotenants at the centers include Weight Watchers, Curves and Dollar General. The two properties in the aggregate have approximately 92,000 sq.ft. of GLA on approximately 13 acres of land. For more information, contact Cedar Shopping Centers, Inc., 44 South Bayles Avenue, Suite 304, Port Washington, NY 11050; 800-564-3128, Fax 516-767-6497; Web site: www.cedarshoppingcenters.com.
Inland Western Retail Real Estate Trust, Inc. acquired a Wal*Mart Supercenter location in Jonesboro, AR and a CVS in Sylacauga, AL. The 149,704 sq.ft. Wal*Mart location was acquired for $11 million and is located on West Parker Road. The 10,055 sq.ft. CVS was acquired for $3 million and is located at the intersection of North Broadway and East Fort Williams Avenue. For more information, contact Inland Western Retail Real Estate Trust, Inc., 2901 Butterfield Road, Oak Brook, IL 60523; 630-218-8000; Web site: www.inlandgroup.com.
The Ross Realty Group, Inc. sold East Lake Centre, a 19,000 sq.ft. center located on East Hillsborough Avenue in Tampa, FL for $1.6 million. The center has a mix of retail and office tenants. The company also sold Bay Vista I, a 17,828 sq.ft. center located on Roosevelt Boulevard in Clearwater, FL for $1.955 million. Tenants include a deli, nail salon, laundrymat and a credit union. The building is currently 100% leased. For more information, contact Elliott M. Ross, Ross Realty Group, Inc., 3001 Executive Drive, Suite 250, Clearwater, FL 33762; Email: elliottross@rossrealty.com; Web site: www.rossrealty.com.
Upland Real Estate Group, Inc. sold the following three Jiffy Lube properties: a 4,073 sq.ft. location in St. Peter, MO for $1.2 million; a 1,500 sq.ft. location in Zanesville, OH for $1 million and a 4,073 sq.ft. location in Cedar Park, TX for $1.4 million. For more information, contact Brier E. Swing, Upland Real Estate Group, Inc., 250 Marquette Avenue, Suite 575, Minneapolis, MN 55401-1872; 612-332-6600, Fax 612-376-4489; Email: brier@upland.com; Web site: www.upland.com.
Urstadt Biddle Properties, Inc. acquired The Dock Shopping Center, a 269,000 sq.ft. center located in Stratford, CT, as well as an adjacent 192-slip marina along the Housatonic River for $50.25 million. The center is anchored by a 60,000 sq.ft. Stop & Shop Supermarket and is cotenanted by Staples, Petco, JoAnn Fabrics, Toy Works and Blockbuster Video. For more information, contact Urstadt Biddle Properties, Inc., 321 Railroad Avenue, Greenwich, CT 06830; 203-863-8200; Web site: www.ubproperties.com.
Goldschmidt & Associates sold the following properties throughout NY: an 18,500 sq.ft. retail site on Martine Avenue in White Plains, NY for $4.8 million. The building is anchored by Pizzeria Uno; and Donnybrook Shopping Center, a 15,000 sq.ft. center located on Weaver Street in Scarsdale for $6.5 million. The center is anchored by Big Top, Amore Pizza and Sammy’s Bagels. For more information, contact Goldschmidt & Associates, One Chase Road, Scarsdale, NY 10583; 914-723-1616, Fax 914-723-7720; Email: eric@goldschmidtandassociates.com; Web site: www.goldschmidtandassociates.com.
P.D.Q. Properties Corp. acquires shopping centers and retail sites nationwide. The potential acquisitions should be at least 30,000 sq.ft. and have a Cap rate of 8%. For more information, contact Gary Abramson, P.D.Q. Properties Corp., 1250 East Hallandale Beach Boulevard, Suite 904, Hallandale, FL 33009; 800-799-4546, Fax 954-454-7959; Email: gallengreen@aol.com.
Hanley Brown Group represented the buyer and seller in the sale of El Rancho Plaza, a 25,537 sq.ft. center located at the intersection of Santa Ana Canyon Road and Fairmont Boulevard in Anaheim Hills, CA for $7 million. The center is situated on a land area of 2.43 acres and is 100% occupied. Tenants include Capone’s Italian Restaurant, Hibachi Steak House and South Coast Bank. The buyer was Remarc Management, while the seller was Fairmont Plaza Partners, LLC. For more information, contact Ed Hanley, Hanley Brown Group, 2569 McCabe Way, Suite 100, Irvine, CA 92614; 949-585-7677, Fax 949-585-7611; Email: info@hanleybrown.com; Web site: www.hanleybrown.com.
One Liberty Properties, Inc. acquired five Circuit City stores located throughout IL, KY, MO and TN for $15 million. The stores total approximately 159,000 sq.ft. of GLA. For more information, contact Mark Lundy, One Liberty Properties, 60 Cutter Mill Road, Great Neck, NY 11021; 516-466-3100, Fax 516-466-3132; Web site: www.onelibertyproperties.com.
Hull Storey Retail Group acquired Parkwood Mall, a 414,350 sq.ft. center located in Wilson, NC. The mall is anchored by Belk, JCPenney and Sears. For more information, contact John Gibson, Hull Storey Retail Group, 3632 Wheeler Road, Augusta, GA 30909; 706-863-2222, Fax 706-868-7457; Web site: www.hullstorey.com.
Combined Properties, Inc. sold the Shops at Sherman Way, a center located at the intersection of Sherman Way and Shoup in West Hills, CA for $3.9 million. The center is 100% occupied. For more information, contact Linda Dreyer, Combined Properties, Inc., 1255 22nd Street, 6th Floor, Washington, DC 20037-1225; 202-293-4500, Fax 202-833-3013; Web site: www.combined.biz.
Capital Realty Advisors, Inc. is selling a 136,000 sq.ft. center located just off Interstate 12 in Denham Springs, LA for $7 million. The center is tenanted by Radio Shack, Rite Aid, Dollar General and Wells Fargo For more information, contact Donna McDonald, Capital Realty Advisors, Inc., 600 Sandtree Drive, Suite 109, Palm Beach Gardens, FL 33403; 561-624-5888, Fax 561-624-5827; Email: dmcdonald@capitalrealtyadvisors.com.
CB Richard Ellis, Inc. negotiated the sale of Chandler Pavilions II, an 80,236 sq.ft. center located on North 54th Street in Chandler, AZ for $13.6 million. The center is anchored by Ultimate Electronics, PetsMart and Cost Plus World Market. For more information, contact Katherine Haug, CB Richard Ellis, Inc., 2415 East Camelback Road, Phoenix, AZ 85016-4290; 602-735-5555, Fax 602-735-5655; Email: katherine.haug@cbre.com; Web site: www.cbre.com/phoenix.
Madison Partners is selling the 20,191 sq.ft. retail component of Seaside Village Shopping Center located on Pacific Coast Highway in Redondo Beach, CA for $7.9 million. The property consists of eight tenants and 10 total retail spaces and is currently 87.8% leased. For more information, contact Karima Hawa, Madison Partners, 12121 Wilshire Boulevard, Suite 959, Los Angeles, CA 90025; 310-820-5959, Fax 310-826-3410; Email: khawa@madisonpartners.net; Web site: www.madisonpartners.net.
NAI Olympia Partners represented Franklin Shopping Centers, LLC in the sale of Franklin Marsh Plaza, a center located on North Main Street in Franklin, IN. MGMT P/R acquired the 49,106 sq.ft. building, which sits on a land area of a little over five acres. The center is 100% occupied. For more information, contact Maria Stein, NAI Olympia Partners, 320 North Meridian Street, Suite 700, Indianapolis, IN 46204; 317-264-9400; Web site: www.naiolympia.com. |