|
Buyers & Sellers
|
|
|
Buyers & Sellers Marcus & Millichap Real Estate Brokerage Co. sold Chichester Square Shopping Center, a 29,025 sq.ft. center located on Chichester Avenue in Boothwyn, PA for $3.4 million. The company also sold a 13,824 sq.ft. Eckerd store at the intersection of East Main Street and Elm Street in Kutztown, PA for $4.5 million. For more information, contact Jeff Algatt, Marcus & Millichap Real Estate Brokerage Co., 1628 JFK Boulevard, Suite 1200, Philadelphia, PA 19103; 215-557-0900, Fax 215-557-0966; Web site: www.marcusmillichap.com.
CB Richard Ellis, Inc. negotiated the sale of Costco Plaza, a 40,087 sq.ft. center located at the intersection of Thornydale Road and Costco Drive in Tucson, AZ. The company represented the seller, Kimco Realty, and structured the $6.3 million transaction. The portion of the retail center that was sold contained a 25,815 sq.ft. PetsMart, 14,272 sq.ft. of shop space and a vacant pad site for future development. The Costco and Home Depot warehouse stores, which are also located in the center, were not included in the sale. For more information, contact Katherine Haug, CB Richard Ellis, Inc., 2415 East Camelback Road, Phoenix, AZ 85016; 602-735-5555, Fax 602-735-5655; Web site: www.cbre.com/phoenix.
Coldwell Banker Commercial Amato & Associates is selling a two-unit strip center located on Dupont Highway in New Castle, DE for $1.2 million with a Cap rate of 8.41%. The 11,845 sq.ft. site is fully-leased to two tenants. For more information, contact Domenick Peronti, Coldwell Banker Commercial Amato & Associates, 110 Christina Medical Center, Newark, DE 19702-1600; 302-224-7711, Fax 302-224-7701; Web site: dperonti@amatoassociates.com.
Net Leased Investment Co. sold a Denny’s restaurant in Fort Lauderdale, FL for $2.392 million with a Cap rate of 5%. For more information, contact Bob Fraser, Mike Sheerin or Loree Barnard, Net Leased Investment Co., 120 Alexandria Boulevard, Suite 18, Oviedo, FL 32765; 407-977-2448, Fax 407-977-0775; Web site: www.netleased.com.
Upland Real Estate Group, Inc. sold a 2,400 sq.ft. Starbucks located in Helena, MT for $1.05 million. Area retail includes Budget Inn & Express, Domino’s Pizza, Goodyear Auto & Tire Center, YMCW, Holiday Super Station, Coney Island, Holiday Inn, Hardee’s, Subway, Taco Bell and Osco Drug. For more information, contact Melissa Deshler, Upland Real Estate Group, Inc., 250 Marquette Avenue, Suite 575, Minneapolis, MN 55401-1872; 612-332-6600, Fax 612-376-4489; Email: melissa@upland.com; Web site: www.upland.com.
Inland Western Retail Real Estate Trust, Inc. acquired The Brickyard, a 234,000 sq.ft. center located at the intersection of Narragansett and Diversey Avenues in Chicago, IL for approximately $77 million. The company will acquire an additional 34,000 sq.ft. on an earn-out basis, bringing the total price to $90 million. The center is anchored by Jewel/Osco and is tenanted by Marshall’s, OfficeMax, Pier 1 Imports, Dress Barn, Footlocker and McDonald’s. The property is shadow-anchored by a Target and Lowe’s Home Improvement. 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.
Sperry Van Ness is representing a private investor in the acquisition of two freestanding properties NNN-leased to Childtime Childcare Centers for $1.61 million. The properties are located in the Dallas, TX area. For more information, contact Michael B. Roberts, Sperry Van Ness, 6342 Beverly Drive, Mission, KS 66202; 877-707-1031.
Green Realty Co., LLC is representing a client looking to acquire a Kindercare property or properties for $3 million. For more information, contact Michael Green, Green Realty Co., LLC, 1020 North Broadway, Milwaukee, WI 53202; 414-431-3700, Fax 414-272-9973; Email: mgreen@nnnbroker.com.
The N Group, LLC-Commercial Realtors is representing a client looking to acquire strip and power centers with a national anchor located throughout the southeastern U.S. for between $6 million and $7 million. For more information, contact Kris Kinnamon, The N Group, LLC-Commercial Realtors, 400 North Selvidge Street, Dalton, GA 30720; 706-226-8300 Ext. 2, Fax 706-226-8310.
Investment Realty Resources, Inc. is looking to acquire sites within a two-hour drive of the Cincinnati/Dayton, OH area for between $800,000 and $2.5 million. For more information, contact Juan Muzquiz, Investment Realty Resources, Inc., PO Box 308, Middletown, OH 45042; 513-424-8106, Fax 614-559-6740; Email: jmuzquiz@ccim.net.
Palmer & Cay Properties, Inc. is selling a 43,800 sq.ft. Publix-anchored center located in Orlando, FL for $7.9 million. For more information, contact Charles R. Stewart, Palmer & Cay Properties, Inc., 2 East Bryan Street, Suite 400, Savannah, GA 31401; 912-234-8033, Fax 912-238-3548; Email: cstewart@palmercayproperties.com.
Massell Commercial Real Estate is representing a client looking to acquire centers throughout FL, GA, NC and SC with a GLA of at least 40,000 sq.ft. for $3 million and up. For more information, contact Kimberly Atlee, Massell Commercial Real Estate, 5600 Roswell Road, Suite 350, Atlanta, GA 30342; Fax 404-252-3883; Email: k.atlee@massell.com.
United Equities Corp. is looking to acquire single-tenant net-leased properties for $2 million and up. The sites should have at least 15 years remaining. For more information, contact Arnold Kramer, United Equities Corp., 2 North LaSalle Street, Suite 1776, Chicago, IL 60602; 312-332-5652; Email: akramer@unitedeq.net.
New England Retail Properties, Inc. sold a former Corny T’s Restaurant and Jazz Club in downtown Hartford, CT. The property was acquired by Eddy-Belle Commercial. The owners are expected to convert the former Jazz club and restaurant into an upscale lounge, nightclub and restaurant. For more information, contact Carol D. Piano, New England Retail Properties, Inc., 1160 Silas Deane Highway, Suite 409, Wethersfield, CT 06109; 860-529-9000, Fax 860-563-9667; Email: cpiano@newenglandretail.com.
DePaul Real Estate Investment Group, Inc. is selling Albertsons Shopping Center, a 22,744 sq.ft. center located on Highway 50 West in Pueblo, CO for $5.5 million. The center is 100% leased and is tenanted by AutoZone, Papa Murphy’s, Great Clips and Starbucks. For more information, contact Paul DeCrescentis, DePaul Real Estate Investment Group, Inc., 2401 East Second Avenue, Suite 210, Denver, CO 80206; 303-333-9799, Fax 303-333-1703; Email: paul@depaulreig.com.
Richman Realty Associates is selling Walgreens stores throughout CA, MN, NC, TX, VA and WI. The company also is offering a Wal*Mart Supercenter in the Northeast for sale. For more information, contact Seymour I. Richman, Richman Realty Associates, 21597 Juego Circle, Suite 6C, Boca Raton, FL 33433; 561-852-7090, Fax 561-852-8346; Email: syrich@adelphia.net.
Discovery Realty Advisors, Inc. is selling Walgreens stores in MD and IN with Cap rates of 6.5%. The stores have absolute NNN, 25-year leases. For more information, contact Ray Kreger, Discovery Realty Advisors, Inc., One Park Place, 621 NW 53rd Street, Suite 240, Boca Raton, FL 33487; 561-276-1031, Fax 561-276-1504; Email: rk@discoveryrealty.com.
|