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Buyers & Sellers
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Buyers & Sellers TriStar Realty Group, LLC is representing a client looking for opportunities along the west coast of FL. Preferred sites include supermarket-anchored centers and mom and pop strip centers and NNN properties in Hillsborough, Pinellas, Manatee and Sarasota Counties. For more information, contact Peter R. Logan, TriStar Realty Group, LLC, One Mack-Cali Center, 501 East Kennedy Boulevard, Suite 1220, Tampa, FL 33602; 813-272-9700 or 727-442-9500, Fax 813-272-9725; Web site: www.tristarrealtygroup.com.
Kudan Group, Inc. is selling the following properties throughout the Chicago, IL area: a 4,400 sq.ft. building located on West Superior that includes a restaurant and two apartments; a 10,000 sq.ft. retail/office building located on West Madison with first floor retail space; a 4,050 sq.ft. nightclub and tavern located on West Wrightwood; a 3,960 sq.ft. restaurant for $650,000; a 6,936 sq.ft. building located on West Irving Park Road for $1.075 million and a 1,875 sq.ft. restaurant for $240,000. For more information, contact Kudan Group, Inc., 1807 Glenview Road, Suite 205, Glenview, IL 60025; 847-724-7454.
Entertainment Properties Trust is looking to acquire sites nationwide and in Canada for between $1 million and $50 million. The company acquires and develops megaplex movie theaters. Tenants include Rave Motion Pictures, AMC, Loews, Consolidated, Southern Theatres, Wallace, Regal Entertainment Group and Crown Theatres. For more information, contact Jon Weis, Entertainment Properties Trust, 30 Pershing Road, Suite 201, Kansas City, MO 64108; 816-472-1700, Fax 816-472-5794; Email: jonw@eprkc.com; Web site: www.eprkc.com.
Calkain Realty Advisors is representing a client looking to acquire NNN drug stores with the following criteria: a 7% Cap rate with a long-term lease located along the East Coast for between $2 million and $4 million. For more information, contact David Sobelman, Calkain Realty Advisors, 11150 Sunset Hills Road, Suite 310, Reston, VA 20190; 703-787-4732, Fax 703-787-4783; Email: dsobelman@calkain.com; Web site: www.calkain.com.
William B. May Commercial Real Estate is looking to acquire a freestanding or retail property in Nassau County, Long Island, NY for between $1.5 million and $2 million. For more information, contact David Ambalu, William B. May Commercial Real Estate, 505 8th Avenue, 8th Floor, New York, NY 10018; 646-442-3882, Fax 212-265-8751.
Palmer Cay Properties, Inc. is selling a 152,000 sq.ft. Wal*Mart Supercenter in PA for $15.5 million. The lease runs through 2019. 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.
Terranova Corp. completed the sale of a former Kmart store located in Pembroke Pines, FL to Costco Wholesale, Inc. for $7 million. Terranova represented the seller, CCMCSC 2000 – 1 Broward Plaza, LLC in its disposition of the vacant Kmart, which sits on the western end of Westfork Plaza, a supermarket-anchored center located at the intersection of Pines Boulevard and Dykes Road. Costco will tear down the building to construct a 135,739 sq.ft. store with a garden center and a gas station. For more information, contact Kerry Wilcox, Terranova Corp., 801 Arthur Godfrey Road, Suite 600, Miami Beach, FL 33140; 305-779-8908, Fax 305-672-7800; Web site: www.terranovacorp.com.
Horn Capital Realty, Inc. is looking to acquire the following NNN-leased sites: drug stores with a minimum of 15 years remaining on the lease; retail box sites with a minimum of nine years remaining on the lease; the site must be well-located with rent bumps. For more information, contact Jonathan S. Horn, Horn Capital Realty, Inc., 1177 Kane Concourse, Suite 301, Bay Harbor Islands, FL 33154; 305-864-2000, Fax 305-864-4240; Email: jsh@horncapital.com.
MBK Real Estate, Inc. sold the neighborhood center component of Lakewood Towne Center in Lakewood, WA to Lakha Investments for $31.5 million. Lahka is acquiring 157,520 sq.ft. of the center’s total one million sq.ft. The center is anchored by a 62,800 sq.ft. Safeway and is tenanted by Saar’s Marketplace, Applebee’s, Panda Express, Cold Stone Creamery, Payless ShoeSource, Hill’s Hallmark, Subway, Supercuts, HairMasters and Desert Sun Tanning Center. For more information, contact MBK Real Estate, Inc., PO Box 57065, Irvine, CA 92619-7065, 175 Technology Drive, Irvine, CA 92618; 949-789-8300.
Intersouth Properties is looking to acquire retail centers from between $7 million and $25 million with Cap rates of 8% or better nationwide. The company also is willing to do upside potential projects, a well as centers that are 100% occupied. For more information, contact William M. Chapman, Intersouth Properties, 4890 University Square, Suite 1, Huntsville, AL 35816; 256-830-9160, Fax 256-430-0881.
Spectrum Realty Advisors is selling Westside Plaza, a 67,873 sq.ft. center anchored by Kroger in Athens, GA on behalf of The Kroger Co. 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.
Coyote Management, L.P. acquired Temple Mall, a 555,400 sq.ft. center located in Temple, TX. For more information, contact Michael E. Rulli, Coyote Management, L.P., 16475 Dallas Parkway, Suite 250, Addison, TX 75001; 972-248-9375; Web site: www.coyotemanagement.com.
The Shopping Center Group, LLC is marketing Grand Pavilion at North Fulton, a 62,323 sq.ft. center located at the intersection of State Bridge Road and Kimball Bridge Road in Alpharetta, GA for $11.5 million. The center is currently 91% occupied. Area demographics include a population of 67,042 within three miles earning $106,275 as the average household income. For more information, contact Janice L. Wetter, The Shopping Center Group, 3101 Towercreek Parkway, Suite 200, Atlanta, GA 30339; 770-955-2434, Fax 770-951-0054; Email: janicew@theshoppingcentergroup.com; Web site: www.tscginvestments.com.
McCoon Commercial Real Estate is selling a land area of 16 acres in the Central Valley/Ceres, CA area for $6 million. For more information, contact Don McCoon, McCoon Commercial Real Estate, 2853 Geer Road, Suite B, Turlock, CA 95382; 209-667-1174, Fax 209-667-1197; Email: propertylink@pacbell.net; Web site: www.proplink.com.
Green Realty Co., LLC is looking to acquire Dollar General stores throughout IL, IN, MI and WI. For more information, contact Michael L. Green, Green Realty Co., LLC, 1020 North Broadway, Milwaukee, WI 53202; 414-431-3700; Email: mgreen@nnnbroker.com; Web site: www.nnnbroker.com.
NetLeaseX Realty Markets, Inc. is working with an investor looking to acquire a property in the greater Cincinnati, OH area for between $1.75 million and $4 million with a Cap rate of 9% or higher. The investor also will consider a turnaround deal if the property is priced to compensate for the lease-up risk. For more information, contact Ronald B. Zimmerman, NetLeaseX Realty Markets, Inc., 119 East Court Street, Cincinnati, OH 45202; 513-861-1031, Fax 513-632-9577.
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. |