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Buyers & Sellers
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Buyers & Sellers H.L. Libby Corp. acquired Boone Mall, a 217,000 sq.ft. center located in Boone, NC. The mall is anchored by Belk’s Department Store and JCPenney. For more information, contact Barry Nicholson, H.L. Libby Corp., 803 Commonwealth Drive, Warrendale, PA 15086; 724-935-3433.
CB Richard Ellis, Inc. is marketing Vineyard Plaza, a 64,274 sq.ft. center located on Oxnard Boulevard in Oxnard, CA for $16.95 million with a Cap rate of 6.28%. The center is situated on a land area of 5.47 acres. Tenants include Circle K, Carl’s Jr., Santa Barbara Bank & Trust and H&R Block. For more information, contact Phil 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.
Lawrence Holzman, Inc. is selling a 22,000 sq.ft. site located on NE 163 Street in North Miami, FL for $2 million. The company also is selling a 43,000 sq.ft. site located on NW 2 Avenue in North Miami, FL. For more information, contact Larry Holzman, Lawrence Holzman, Inc., 1276 Lexington Avenue, Suite 3N, New York, NY 10028-2069; 212-860-3267, Fax 212-876-5229; Email: lbroker1@aol.com.
Murphy Commercial Realty, Inc. is selling a 1,446 sq.ft. building located on Gulf Boulevard in Pinellas County, FL for $1 million. For more information, contact Patti Laubaugh, Murphy Commercial Realty, Inc., 513 North Belcher Road, Suite A, Clearwater, FL 33765; 727-736-0202, Fax 727-736-0302.
Net Leased Investment Co. is selling Meineke Car Care located in Elkton, MD for $1.217 million with a Cap rate of 7.75%. The company also is selling a 3,200 sq.ft. Amscot Financial Services building located in Kissimmee, FL for $1.965 million with a Cap rate of 8.25%. For more information, contact Mike Sheerin, Net Leased Investment Co., 120 Alexandria Boulevard, Suite 18, Oviedo, FL 32765; 407-977-2448, Fax 407-977-0775; Email: msheerin@netleased.com; Web site: www.netleased.com.
Sperry Van Ness sold a 15,000 sq.ft. Walgreens located at the intersection of Route 120 and Hainesville Road in Hainesville, IL for $5.05 million. For more information, contact David Ebeling or Megan Monfort, Sperry Van Ness, 18881 Von Karman, Suite 800, Irvine, CA 92612; 949-225-1883 or 949-225-1894; Emails: david.ebeling@svn.com and megan.monfort@svn.com; Web site: www.svn.com.
P.P.I. Capital, Inc. is looking to acquire anchored retail centers with a GLA of at least 100,000 sq.ft. for between $8 million and $45 million nationwide. For more information, contact B.J. Halavi, P.P.I. Capital, Inc., 10850 Wilshire Boulevard, Suite 720, Los Angeles, CA 90024; 310-446-1122, Fax 310-475-5519; Email: bj@ppicapital.net.
Shane Investment Property Group, LLC is selling South Hill Square, a 25,559 sq.ft. center located in Jackson, MI for $1.395 million with a Cap rate of 8.87%. Area retail includes Walgreens and Kroger. The center is 89% leased to a mix of national and local tenants. For more information, contact Jeff Enck, Shane Investment Property Group, 2325 Lake View Parkway, Suite 200, Alpharetta, GA 30004; 770-481-1960, Fax 770-481-1961; Email: jenck@shanegroup.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.
Transwestern Investment Co. is looking to acquire value-added investments for between $20 million and $100 million or portfolios in the top 25 metropolitan markets nationwide. The company is interested in acquiring 100% purchases, joint ventures and recapitalization transactions. Preferred sites include specialty and lifestyle centers, street retail buildings, anchored centers, de-malling situations on Class B and Class C regional centers and retail-oriented mixed-use projects. For more information, contact Erwin K. Aulis, Transwestern Investment Co., 150 North Wacker Drive, Suite 800, Chicago, IL 60606; 312-499-1900, Fax 312-499-1901; Email: erwin_aulis@transwestern.net; Web site: www.transinvestco.com.
The Ross Realty Group, Inc. sold a 1,802 sq.ft. former Long John Silvers restaurant located on South Missouri Avenue in Clearwater, FL for $570,000. The buyer was Surfside, Inc., while the seller was Homer Properties. For more information, contact Elliott M. Ross, Ross Realty Group, Inc., 3001 Executive Drive, Suite 250, Clearwater, FL 33762; 727-725-2800, Fax 727-726-6780; Email: elliottross@rossrealty.com; Web site: www.rossrealty.com.
Retail Capital Group/RCG Ventures, LLC acquired Northside Plaza, a 70,000 sq.ft. center located in Henderson, NC. The center is anchored by Food Lion. The company also acquired Woodruff Village, a 75,000 sq.ft. center located in Greenville, SC. The center is anchored by Bi-Lo. For more information, contact Michael C. McMillen, RCG Ventures, LLC, 2970 Peachtree Road, Suite 805, Atlanta, GA 30305; 404-816-5454, Fax 404-816-5445; Web site: www.rcgventures.com.
Linear Retail Properties, LLC is looking to acquire a portfolio of convenience-oriented retail properties throughout eastern MA, southern NH and RI. The sites must have a GLA of between 10,000 sq.ft. to 125,000 sq.ft. for a cost of $1 million to $15 million. For more information, contact William J. Beckeman, Linear Retail Properties, LLC, Five Burlington Woods Drive, Burlington, MA 01803; 781-273-5665, Fax 781-273-5683; Web site: www.linearretail.com.
CORE Properties is selling an 8,300 sq.ft. former AleHouse Restaurant located on North Tryon Street in Charlotte, NC for $3.5 million. The site has an average daily traffic count of 33,000 vehicles. Area demographics include a population of 155,977 within five miles earning $52,663 as the average household income. Lease rates are $30 per sq.ft. NNN, while lease terms are 19 years with three and five-year options. For more information, contact Mike Thompson or Keely Simerville, 831 East Morehead Street, Suite 445, Charlotte, NC 28202; 888-590-CORE; Web site: www.coreproperties.com.
Marcus & Millichap Real Estate Investment Brokerage & Co. sold a 14,725 sq.ft. Walgreens located on South Grand Avenue in Covina, CA for $2.55 million with a Cap rate of 5.1%. The company also sold a 2,376 sq.ft. Jack-In-The-Box restaurant located on East Thompson Boulevard in Ventura, CA for $2.525 million with a Cap rate of 5.3%, as well as a 2,500 sq.ft. Jack-In-The-Box restaurant located on North Garfield Avenue in Montebello, CA for $1.5 million with a Cap rate of 4.8%. The company also sold a 1,793 sq.ft. Arby’s Restaurant located on Midway Drive in San Diego, CA for $1.8 million with a Cap rate of 5%. For more information, contact Rebecca Barz, Marcus & Millichap Real Estate Investment Brokerage Co., 3281 East Guasti Road, Suite 800, Ontario, CA 91761; 909-605-1800 Ext. 670, Fax 909-605-1821; Email: rbarz@marcusmillichap.com; Web site: www.marcusmillichap.com. |