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Buyers & Sellers
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Buyers & Sellers Coyote Management, L.P. acquired Temple Mall, a 555,400 sq.ft. regional enclosed mall located at the intersection of Loop 363 and Interstate 35 in Temple, TX. The mall was acquired from Colonial Realty Limited Partnership by Coyote Temple Investors, L.P. and Torreon National Investments, LLC. The single-level mall is anchored by Foley’s, Dillard’s and JCPenney, as well as a 12-screen stadium-seated theater. The mall is currently 88% leased. For more information, contact Coyote Management, L.P., 16475 Dallas Parkway, Suite 250, Addison, TX 75001; 972-248-9375, Fax 972-248-0871; Email: coyote97@swbell.net.
Granite Partners negotiated the sale of Orlando Fashion Square, a 1.1 million sq.ft. center located on East Colonial Drive in Orlando, FL on behalf of Colonial Properties Trust and Prudential Real Estate Investors to Pennsylvania Real Estate Investment Trust. The center is currently 92% occupied and is anchored by Sears, JCPenney, Burdines-Macy’s and Dillard’s. The sale also includes an Olive Garden restaurant and the High-Tech Institute. For more information, contact Granite Partners, 600 Madison Avenue, 11th Floor, New York, NY 10022; 212-328-2800, Fax 212-328-2828; Email: info@granitenewyork.com.
Coldwell Banker Commercial – Investment Services Group is representing a client who is closing on the sale of a retail property and needs a replacement property with the following criteria: multi-tenant centers located throughout the western and southern U.S., a minimum Cap rate of 7%, some national and credit tenants and an upside in rent escalations or minor retenanting. The client is looking to acquire properties for between $2 million and $6 million. For more information, contact Shawn Collins, Coldwell Banker Commercial – Investment Services Group, 1340 Bayshore Highway, Burlingame, CA 94010; 650-344-4300 Ext. 24, Fax 650-344-4311; Email: spcollins@coldwellbanker.com.
SouthEast Commercial Real Estate Group, Inc. is selling pad development sites, which can be occupied by buildings up to 250,000 sq.ft. in Lake Norman, NC, for $6 million. For more information, contact Lesley Williams, SouthEast Commercial Real Estate Group, Inc., 1401 West Morehead Street, Suite 125, Charlotte, NC 28208; 704-370-3000 Ext. 351, Fax 704-370-6507; Email: lwilliams@southeastcommercial.com.
Signature Associates – Oncor International is selling a retail site located on 112 North Larch Street in Lansing, MI. The building is currently occupied by Action Discount. For more information, contact Jerome F. Abood, Signature Associates – Oncor International, 246 East Saginaw Street, Suite 2, East Lansing, MI 48823; 517-374-1100.
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.
RE/MAX Affiliates N.E. is representing a client looking to acquire strip centers and commercial land throughout PA on main roads with a land area of at least one acre. For more information, contact Dwayne Rudderow, RE/MAX Affiliates N.E., 9237 Frankford Avenue, Philadelphia, PA 19114; 215-335-9815, Fax 215-300-9939; Email: dwayne@teamballoon.com.
Gregory Greenfield & Associates, Ltd. acquired Mall of Abilene, a 682,243 sq.ft. mall located in Abilene, TX. The mall is anchored by Dillard’s, JCPenney and Sears and is cotenanted by Best Buy, Premiere Cinema 10, McDonald’s, Pizza Hut, Pier 1 Imports, Chili’s and 76 inline specialty stores. The acquisition was completed on behalf of GG&A Abilene, LLC and seven other private investors. For more information, contact Neal Stump, Gregory Greenfield & Associates, Ltd., 124 Johnson Ferry Road, Atlanta, GA 30328; 404-236-2313, Fax 404-236-2299.
A.H. Sauer & Associates is selling a 40,000 sq.ft. building located in Paramus, NJ. For more information, contact Rennie Pincus, A.H. Sauer & Associates, Neptune Plaza, 332 Route 4 East, South Lobby, Paramus, NJ 07652; 201-843-1600, Fax 201-843-0865.
Colliers International is selling a land area of two acres along Louetta Road, near Meadow Tree Lane, in Houston, TX for $525,000. For more information, contact Edward Nwokedi, Colliers International, 1300 Post Oak Boulevard, Suite 225, Houston, TX 77056; 713-222-2111; Web site: www.collierstexas.com.
Allegro Realty Advisors, LTD is representing a client looking to acquire established properties located in northeastern OH for more than $3 million. For more information, contact Adam P. Bradford, Allegro Realty Advisors, LTD, 8111 Rockside Road, Suite 250, Cleveland, OH 44125; 216-524-0710 Ext. 109, Fax 216-524-0711; Web site: www.allegrorealty.com.
Paramount Partners, LLC is representing a client looking to acquire a replacement property to fulfill a 1031 exchange in the New England area for between $1 million and $2 million. 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.
Concordia Realty Corp. is looking to acquire centers from 50,000 sq.ft. to one million sq.ft. throughout the Midwest and Northeast from $2 million to $20 million. For more information, contact Michael Flight, Concordia Realty Corp., 10031 West Roosevelt Road, Suite 200, Westchester, IL 60154; 708-344-9242, Fax 708-344-9244; Email: mflight@concordiarealty.com; Web site: www.concordiarealty.com.
Palmer & Cay Properties, Inc. is looking to acquire centers east of the Mississippi River, with a preference in FL, GA, NC, SC and TN. 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.
United Equities Corp. is looking to acquire portfolios of retail, industrial or office for a minimum of $2 million. Single-tenants sites should have at least 15 years remaining on the lease. For more information, contact Arnold Kramer, United Equities Corp., 2 North LaSalle Street, Suite 1776, Chicago, IL 60602; 312-332-5652 Ext. 88, Fax 312-803-9652; Email: akramer@unitedeq.net.
Thalhimer/Cushman & Wakefield represented ASJC Realty, Inc. in the acquisition of Food Lion Plaza, a center located at the intersection of U.S. Route 301 and South Crater Road in Petersburg, VA for $1.425 million from KPT Communities. For more information, contact Benjamin W. Rawles III, Exchange Place, 1313 East Main Street, Suite 400, Richmond, VA 23219; 804-648-5881, Fax 804-697-3479; Web site: www.thalhimer.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.
Upland Real Estate Group, Inc. sold an 11,207 sq.ft. National Tire & Battery located in Houston, TX for $2.42 million. The company also sold a 2,400 sq.ft. Starbucks located in Helena, MT for $1.05 million. 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.
Triangle Commercial is selling a 5,500 sq.ft. multi-investment property located at the intersection of Interstate 85 and Highway 56 in Creedmoor, NC for $746,200. For more information, contact Nicole Butchkoski, Triangle Commercial, 200 Cascade Pointe Lane, Suite 101, Cary, NC 27513; 919-677-6100, Fax 919-882-9466; Email: nicole@trianglecommercial.com.
A.F.S. International Realty is looking to acquire two centers nationwide with a Cap rate over 8.5%; office buildings nationwide with a Cap rate over 9% and multi-family properties throughout NY with at least over 50 units. For more information, contact David Schatzkamer, A.F.S. International Realty, 760 Montgomery Street, Apartment 1E, Brooklyn, NY 11213; 718-715-9402; Email: mortgagedave23@aol.com.
Grubb & Ellis Co. is selling a center located in Huntington Park, CA for $2.1 million. The center is tenanted by Starbucks. For more information, contact Elizabeth Minihane, 1100 Glendon Avenue, Suite 900, Los Angeles, CA 90024; 310-235-2950; Email: elizabeth.minihane@grubb-ellis.com.
Diversified Commercial Real Estate sold three strip centers with a combined GLA of 76,000 sq.ft. for $7.4 million throughout IN. The centers include Munster Plaza in Munster; Oakside Place Mall in Schererville and St. John Mall in St. John. For more information, contact Michael Larson, Diversified Commercial Real Estate, 708-895-5195, Fax 219-836-2400.
KGK Commercial Group, LLC is selling Walgreens stores in FL, MI and PA. The stores include absolute NNN, 25-year leases with Cap rates of 6.25% to 6.35%. For more information, contact Kevin G. Kowalski, KGK Commercial Group, LLC, 14026 Trouville, Suite 200, Tampa, FL 33624; 813-629-7299, Fax 813-963-2099; Email: kgkowalski@tampa.rr.com.
CB Richard Ellis, Inc. The Boulous Co. is selling a 5,400 sq.ft. site located on Route 1 in Rockport/Rockland, ME for $1.5 million. The building is situated on a land area of 2.5 acres. Area retail includes Wal*Mart and Home Depot. For more information, contact Matt Cardente, CB Richard Ellis, Inc. The Boulous Co., One Canal Plaza, Portland, ME 04101; 207-772-1333.
CB Richard Ellis The Dalton Team sold an 86,479 sq.ft. center located in Freeport, IL. For more information, contact Gregory M. Dalton, CB Richard Ellis The Dalton Team, 1512 Eureka Road, Suite 100, Roseville, CA 95661-3040; 916-781-4816; Email: greg.dalton@cbre.com.
CMC Brokerage is marketing a site located in Milford, OH for $2.1 million. For more information, contact Chris Nachtrab, CMC Brokerage, 10925 Reed Hartman Highway, Cincinnati, OH 45242; 513-984-3030, Fax 513-792-1248; Email: cnachtrab@cmcbrokerage.com.
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.
Pacific Coast Capital Partners, LLC and The Smart Growth Family of Funds acquired Anaheim Garden Walk, a 19.3-acre retail and hotel site located in Anaheim, CA. The company also formed a joint venture with Stoltz Real Estate Fund for the acquisition of Plaza Las Americas, a 46.8-acre retail property located in San Diego, CA. The 560,000 sq.ft. center is located on Camino de la Plaza directly off the last exits before the U.S./Mexican border from Interstates 5 and 805. The project is part of a 66-acre, 1.4 million sq.ft. mixed-use development called Las Americas. The center is tenanted by Banana Republic, Gap, Old Navy, Nike, Nautica, Brooks Brothers, Adidas, Liz Claiborne, Guess?, Levi’s, Sketchers and Polo Jeans. For more information, contact Pacific Coast Capital Partners, LLC, 1960 East Grand Avenue, Suite 400, El Segundo, CA 90245; 866-PCCP-LLC; Web sites: www.pccpllc.com and www.scsgf.com.
Sperry Van Ness is selling a Rite Aid located on Gerber Road in Sacramento, CA for $5.39 million with a Cap rate of 6.5%. The store is cotenanted in a center with Albertsons, Hollywood Video, Beneficial Finance, Radio Shack and The UPS Store. Sperry Van Ness – BBRI is selling a 5,200 sq.ft. building situated on a land area of 30,000 sq.ft. on U.S. Highway 19 in Holiday, FL for $886,000. Area retail includes Walgreens, Publix and CVS. For more information, contact Michelle Trombley, Sperry Van Ness, 18881 Von Karman Avenue, Suite 800, Irvine, CA 92612; 949-225-1890, Fax 949-250-4126. For more information regarding the 5,200 sq.ft. building in Holiday, FL, contact Bill Bach, Sperry Van Ness – BBRI, 15638 Eastbourne Drive, Odessa, FL 33556; 813-926-8600, Fax 813-920-7943; Email: william.bach@svn.com; Web site: www.bbricommercial.com.
Cohen Financial is looking to acquire real estate assets with values between $5 million to $12 million in the Chicago, IL area. The company prefers sites that have occupancy rates of 75% to 90%. For more information, contact Brian T. Pohl, Cohen Financial, Two North LaSalle Street, Suite 800, Chicago, IL 60602; 312-602-6135, Fax 312-346-6669; Email: bpohl@confidential.com.
The Woodmont Co. acquired a land area of approximately 40 acres at the intersection of Loy Lake and U.S. 75 in Sherman, TX. The site will eventually include a center, Sherman Commons, which will be approximately 300,000 sq.ft. Opening is slated for October 2006. For more information, contact The Woodmont Co., 2100 West 7th Street, Fort Worth, TX 76107-2306; 817-732-4000, Fax 817-735-4738.
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.
Linear Retail Properties, LLC acquired Stow Shopping Center, a 119,038 sq.ft. center located in Stow, MA for $12.3 million. The center is fully-leased and is anchored by Shaw’s Supermarket and is cotenanted by Ace Hardware, Global Fitness, Radio Shack, Dunkin’ Donuts, Papa Gino’s and Citizen’s Bank. For more information, contact Dina Buccieri, Linear Retail Properties, LLC, Five Burlington Woods Drive, Burlington, MA 01803; 781-273-5665, Fax 781-273-5683; Email: dbuccieri@linearretail.com.
Equity One, Inc. acquired DeSoto Shopping Center, a 69,090 sq.ft. center located at the intersection of East Pleasant Run Drive and Hampton Road in DeSoto, TX for $8.18 million. The center is anchored by a 58,960 sq.ft. Tom Thumb supermarket and has 10,130 sq.ft. of small shop space. The center also is 100% leased and is situated on a land area of 7.26 acres. Area demographics include a population of 49,726 within three miles earning $59,367 as the median household income. For more information, contact Equity One, Inc., 1696 NE Miami Gardens Drive, North Miami Beach, FL 33179; 305-947-1664, Fax 305-947-1734; Web site: www.equityone.net.
Spectrum Realty Advisors is representing Limik L.P. in the sale of Marietta Square, a 57,950 sq.ft., Food Lion-anchored center located in Jacksonville, FL. The company also is representing The Sembler Co. in the sale of Publix at Shakerag, a 77,913 sq.ft. center located in Suwanee, GA. For more information, contact Joe Montgomery, Tony D’Ambrosio or Jon Barry, Spectrum Realty Advisors, 5871 Glenridge Drive, Suite 400, Atlanta, GA 30328; 404-252-2288, Fax 404-252-8666.
Thor Equities acquired Merritt Square Mall, an 840,295 sq.ft. center located in Merritt Island, FL for $64.5 million. The purchase includes 99,579 sq.ft. of an outparcel property, bringing the total area acquired to 939,874 sq.ft. The center is anchored by Sears, Dillard’s, JCPenney and Cobb Theater. The development company plans to invest in mall improvements and will seek to attract additional national and regional restaurant and fashion tenants. For more information, contact Thor Equities, 139 Fifth Avenue, New York, NY 10010; 212-529-5055, Fax 212-460-9243; Email: info@thorequities.com.
Tax Strategies Group, LLC is looking to acquire Class A office, industrial, retail and multi-family locations in major metropolitan and secondary markets, with a focus on AZ, CA, CO, FL, NV and the Midwest. The company prefers a site at least 80% occupied and lease terms from 10 to 15 years NNN. For more information, contact Ed Wlodarczyk, Tax Strategies Group, LLC, 744 North Wells Street, Chicago, IL 60610; 312-867-9700, Fax 312-867-9750; Email: edwlodarczyk@taxstrat.com; Web site: www.taxstrat.com.
Passco Real Estate Enterprises, Inc. completed the sale of Moreno Valley Plaza Shopping Center, a 341,000 sq.ft. center located on Sunnymead Boulevard in Moreno Valley, CA for $29 million. The center is anchored by Vons supermarket, Office Depot, Big Five Sporting Goods and Big Lots. Cotenants include Radio Shack, H&R Block, Leslie’s Pool Mart and JoAnn Fabrics. For more information, contact Passco Real Estate Enterprises, Inc., 96 Corporate Park, Suite 200, Irvine, CA 92606; 949-442-1000, Fax 949-442-2460; Web site: www.passco.net.
Marcus & Millichap is selling the following properties: Conyers Plaza I and II, a 119,695 sq.ft. center located in Atlanta, GA for $16.2 million and $14.2 million, respectively. The center is shadow-anchored by Wal*Mart and Home Depot; a 10,908 sq.ft. drug store located in Wildwood, FL for $2.57 million with a Cap rate of 7.1%; Oak Hill Plaza, a 111,680 sq.ft. center in Richmond, VA for $11.75 million with a Cap rate of 7.43%. For more information, contact Al Taf, Marcus & Millichap, 1200 Abernathy Road, Building 600, Suite 650, Atlanta, GA 30328; 678-942-4637, Fax 770-200-1517; Email: ataf@marcusmillichap.com.
Spectrum Realty Advisors sold Westside Plaza, a 67,873 sq.ft. Kroger-anchored center located in Athens, GA. The company also sold a Wal*Mart center located in Gainesville, GA on behalf of Lexington Corporate Properties Trust. For more information, contact Joe Montgomery, Tony D’Ambrosio or Jon Barry, 5871 Glenridge Drive, Suite 400, Atlanta, GA 30328; 404-252-2288, Fax 404-252-8666.
Perry & Associates is looking to acquire Wal*Mart-anchored centers located throughout the eastern U.S. The company also will consider dark stores, single buildings, potential vacancies and undeveloped outparcels. For more information, contact Jim Perry, Perry & Associates, PO Box 1686, Lexington, KY 40588; 859-278-5868, Fax 859-278-5858; Email: jperry1@mis.net.
Horizon Realty Services, Inc. sold a former JCPenney department store at the Lincoln Mall located at the intersection of Route 30 and Cicero Avenue in Matteson, IL. The building was sold to Freehold Capital Advisors. For more information, contact Susan Winter, Horizon Realty Services, Inc., 3715 Ventura Drive, Suite 200, Arlington Heights, IL 60004; 847-870-8585; Email: admin@horizonrealtyservices.com; Web site: www.horizonrealtyservices.com.
Baum Realty Group arranged the acquisition of a land area of 1.6 acres at the intersection of 161st Street in LaGrange Road in Orland Park, IL for $1.29 million by The Dermatology Center. The seller was Summit Development Corp. For more information, contact Baum Realty Group, 1030 West Chicago Avenue, Suite 300, Chicago, IL 60622; 312-666-3000, Fax 312-666-7970; Web site: www.baumrealty.com.
DePaul Real Estate Investment Group, Inc. is selling a pad at Shops at Bluff, a 15,719 sq.ft. center located on Academy Boulevard in Colorado Springs, CO for $4.65 million. The center is tenanted by Starbucks, Tan Your Hide II, Alpine Vision, Hollywood Video and T-Mobile. 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.
Landmark Real Estate Co. is selling a land area of 3.5 acres off Route 3 in Clifton, NJ for $7 million. Area retail includes Briad Shopping Center. For more information, contact Laurence Liebowitz, Landmark Real Estate Co., 555 Miller Court, Wyckoff, NJ 07481; 201-560-1800, Fax 201-560-0600; Email: l2broker@aol.com; Web site: www.landmarkreco.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.
Capital Realty Advisors is looking to acquire centers throughout the southeastern U.S., with a focus on TX and NV, from between $8 million and $15 million with Cap rate of 8.5% and occupancy at 80% or higher. The center must have a GLA of at least 100,000 sq.ft. For more information, contact Donna McDonald, Capital Realty Advisors, 600 Sandtree Drive, Suite 109, Palm Beach Gardens, FL 33403; 561-624-5888, Fax 561-624-5827; Email: dmcdonald@capitolrealtyadvisors.com.
Bognuda Commercial Real Estate Services is representing a client looking to acquire centers throughout the U.S. The company prefers a Cap rate of 9%. For more information, contact Greg Bognuda, Bognuda Commercial Real Estate Services, 100 Drake’s Landing Road, Suite 150, Greenbrae, CA 94904; 415-925-2266, Fax 415-925-1144.
Colonial Properties Trust sold Colonial Mall Gadsden, a 480,000 sq.ft. mall located in Gadsden, AL for $58.8 million. The mall is anchored by Sears, McRae’s and Belk department store and is currently 965 occupied. For more information, contact Barbara M. Pooley, Colonial Properties Trust, 2101 6th Avenue North, Suite 750, Birmingham, AL 35203; 205-250-8768; Web site: www.colonialprop.com.
Vesta Strategies, LLC is looking to acquire or joint venture single-tenant and power center portfolios nationwide. The company is looking to invest in sub investment grade credit. For more information, contact Dave Carter, Vesta Strategies, LLC, 7380 Sand Lake Road, Suite 500, Orlando, FL 32819; 407-352-3983, Fax 407-352-5204; Email: dcarter@vestastrategies.com.
netUSrealestate is looking to acquire sites throughout LA and MS for $500,000 to $1 million. For more information, contact Jen VanWilliams, netUSrealestate, 4318 Downtowner Loop N, Suite E, Mobile, AL 36609; 251-344-2000, Fax 702-925-0388; Web site: www.netusrealestate.com.
P.D.Q. Properties Corp. is looking to acquire retail centers throughout the U.S. with a GLA of at least 30,000 sq.ft. The company is looking for centers with a Cap rate of no less than 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.
Premier Commercial Realty sold a land area of 5.1 acres on Randall Road in Elgin, IL for $1,333,170. The company represented both the buyer and seller. For more information, contact Premier Commercial Realty, 9225 South Route 31, Lake In The Hills, IL 60156; 847-854-2300, Fax 847-854-2380; Email: info@premier-comm.com; Web site: www.premier-comm.com.
Coldwell Banker Commercial McGuire Mears & Associates sold a land area of 62 acres at the intersection of Interstate 90 and Interstate 43 in Beloit, WI. For more information, contact Joel Patch, Coldwell Banker Commercial McGuire Mears & Associates, 400 Midland Court, Suite 101, Janesville, WI 53546; 608-752-6325, Fax 608-756-1573; Email: joel@mcguiremears.com.
Murray Hill Properties LLC is selling a 5,859 sq.ft. building located on Fifth Avenue in New York, NY. For more information, contact Alyne Model, Murray Hill Properties LLC, 1140 Avenue of the Americas, New York, NY 10036; 212-944-4747, Fax 212-944-4750; Email: info@murrayhill.com.
NAI Capital is selling Bullhead Plaza, a 31,606 sq.ft. center located on Hancock Road in Bullhead City, AZ for $3.5 million with a Cap rate of 7.63%. The center is currently 95% occupied. For more information, contact Peter Lund, NAI Capital, 1640 South Sepulveda Boulevard, Suite 500, Los Angeles, CA 90025; 310-440-8500, Fax 310-440-8525; Email: plund@naicapital.com.
NAI Hunneman Commercial Brokers brokered the sale of a 60,000 sq.ft. building located on Main Street in Monson, MA for $5.7 million. The company represented both buyer, Monson, LLC, and the seller, Armata Development. For more information, contact NAI Hunneman Commercial Brokers, 303 Congress Street, Boston, MA 02210; 617-457-3400, Fax 617-457-3268; Web site: www.naihunneman.com.
Gemini Real Estate Advisors, LLC acquired North Summit Square, a 226,130 sq.ft. center located just off U.S. Highway 52 and University Boulevard in Winston-Salem, NC. For more information, contact Will Obeid, Gemini Real Estate Advisors, LLC, The Flatiron Building, 175 Fifth Avenue, Suite 715, New York, NY 10010; 704-895-7845 Ext. 103.
Pennsylvania Real Estate Investment Trust acquired Gadsden Mall, a 480,000 sq.ft. mall located in Gadsden, AL from an affiliate of Colonial Properties Trust for $58.8 million. For more information, contact Ronald Rubin, Pennsylvania Real Estate Investment Trust, 200 South Broad Street, Philadelphia, PA 19102-3803; 215-875-0700, Fax 215-546-7311.
Friedman Real Estate Group, Inc. negotiated the investment sale of a vacant Super Kmart property in Canton, MI to IKEA, which plans on demolishing the existing structure to build a 306,000 sq.ft., two-story retail store located on Ford Road. For more information, contact Samantha Moffett, Friedman Real Estate Group, 34975 West Twelve Mile Road, Farmington Hills, MI 48331; 248-324-2000, Fax: 248-848-4141; Email: samantha.moffett@freg.com; Web site: www.friedmanrealestate.com.
Hastings Cohn Real Estate is selling Garden Village Plaza, a 172,479 sq.ft. center located at the intersection of Union Road and French Road in Cheektowaga, NY for $5 million. The center is anchored by Village Flea Market and Dollar General and is situated on a land area of 22 acres. The site has an average daily traffic count of 28,114 vehicles. Area demographics include a population of 283,039 within five miles earning $44,066 as the average household income. For more information, contact Alan T. Hastings, Hastings Cohn Real Estate, 423 Elmwood Avenue, Buffalo, NY 14222; 716-886-Deal, Fax 716-886-0060.
Equity Alliance Corp. is looking to acquire a multi-tenanted retail or office building located anywhere in New England from between $2 million to $3 million with a Cap rate of 8% or higher. The client’s goal is to obtain a 10% cash cash/cash return after securing positive leverage. For more information, contact Joel Kahn, Equity Alliance Corp., 32 Elk Drive, Bedford, NH 03110; 603-472-3808, Fax 603-471-0782; Email: jkahn@equity-alliance.com.
Goodman Real Estate Services Group, LLC represented Ruby Tuesday in the acquisition of 2.18-acres of land on Airport Highway in Holland, OH. For more information, contact Goodman Real Estate Services Group, LLC, 25333 Cedar Road, Suite 305, Lyndhurst, OH 44124; 216-381-8200, Fax: 216-381-8211; Email: anne@goodmanrealestate.com.
Capital Pacific is selling a Dollar Tree store located along Highway 101 in Crescent City, CA for $1.46 million with a Cap rate of 7%. For more information, contact Capital Pacific, Four Embarcadero Center, Twenty Fifth Floor, Suite 2570, San Francisco, CA 94111; 415-274-2700, Fax 415-274-2710; Email: infosanfrancisco@capitalpacific.com.
NAI Horizon represented The Montecito Cos., LLC in the acquisition of a land area of 12 acres at the intersection of Cheyenne and Civic Center Drive in Las Vegas, NV for $3.8 million from Triple CCC, LLC. The company also represented Armstrong Development Properties, Inc. in the acquisition of a land area of 1.74 acres at the intersection of Craig and Allen in Las Vegas, NV from Star Living Trust for $1.6 million. The company also represented a client in the acquisition of a 6,656 sq.ft. Hollywood Video located on 82nd Street in Lubbock, TX from Joanna Demeyer Trust. For more information, contact Mike Fitz, NAI Horizon, 6725 Via Austi Parkway, Suite 300, Las Vegas, NV 89119; 702-938-6555.
Felenstein Was Associates is selling outlots at The Cove, a center located on Meadowland Parkway in Secaucus, NJ for $5.5 million. The company also is looking to acquire centers from 200,000 sq.ft. to 400,000 sq.ft. throughout the Northeast for between $5 million and $25 million. The company prefers centers that are 80% occupied. For more information, contact Jeffrey T. Was, Felenstein Was Associates, 47 East 77th Street, Suite 205, New York, NY 10021; 212-772-9829 Ext. 15.
Terranova Corp. completed the sale of Shoppes of Cresthaven located in Palm Beach County, FL for $15.1 million. The 175,932 sq.ft. center is located on South Military Trail . For more information, contact Kerry Wilcox, Terranova Corp., 801 Arthur Godfrey Road, Suite 600, Miami Beach, FL 33140; 305-695-8700, Fax 305-672-7800; Email: info@terranovacorp.com.
Stan Johnson Co. is selling a 3,500 sq.ft. DQ Grill & Chill restaurant located on East Austin in Giddings, TX for $1.485 million. For more information, contact Ryan Butler or Gill Warner, Stan Johnson Co., Two Warren Place, 6120 South Yale Avenue, Suite 813, Tulsa, OK 74136; 918-494-2690, Fax 918-494-2692; Email: rbutler@stanjohnsonco.com.
NAI Pyramid Brokerage Co. brokered the sale of the former Pharmhouse Plaza, a 93,000 sq.ft. center located on Seneca Turnpike in New Hartford, NY. The center was acquired by M.S.R. Plaza, LLC. For more information, contact Dominic Pavia, NAI Pyramid Brokerage Co., PO Box 3, 5786 Widewaters Parkway, Syracuse, NY 13214; 315-736-0856, Fax 315-445-2074; Email: dpavia@pyramidbrokerage.com. |