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Buyers & Sellers
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Buyers & Sellers Marcus & Millichap National Retail Group is selling the following properties throughout NM: a Dollar General/Movie Gallery for $1.12 million with a Cap rate of 8.40% in Kirtland; a Dollar General/Cash Corral for $806,000 with a Cap rate of 8.25% in Grants; a Dollar General/Cash Corral for $813,000 with a Cap rate of 8.25% in Bloomfield and a freestanding Dollar General for $554,000 with a Cap rate of 8.34% in Portales. The properties can be acquired individually or on a portfolio basis. For more information, contact Brian T. Southworth, Marcus & Millichap National Retail Group, 101 West Ohio Street, Suite 1550, Indianapolis, IN 46204; 317-955-2600, Fax 317-955-0091.
Kudan Group, Inc. sold Dinky’s Bender, a tavern located on North Milwaukee Avenue in Chicago, IL. The company also negotiated the sale of Sauce, a 7,700 sq.ft. nightclub/restaurant located on North Clark Street in Chicago, IL. For more information, contact Michele Perez, Kudan Group, Inc., 1807 Glenview Road, Suite 205, Glenview, IL 60025; 847-724-7454, Fax 847-724-6447; Email: marketing@kudangroup.com; Web site: www.kudangroup.com.
Commercial One Realtors is selling land areas of six acres and 2.8 acres on Route 23 in Delaware, OH. The company also is selling eight acres of commercial, retail and service outlots from an original 42 acres on Route 36-37 in Delaware. Both sites have average daily traffic count of 40,000 vehicles and both sites are priced between $200,000 and $300,000. For more information, contact Chris Powell or Jim Miller, Commercial One Realtors, 1515 Bethel Road, Columbus, OH 43220; 614-451-5100, Fax 614-451-9943; Email: jmiller@c1realty.com; Web site: www.c1realty.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.
Upland Real Estate Group, Inc. sold the Centre at Lilburn, a 46,950 sq.ft. center located in Lilburn, GA for $10.6 million. The center is located adjacent to Wal*Mart and has 20 tenants, including Kool Smiles Dentistry, Great Clips, Payless Shoes and Nextel Wireless. For more information, contact Brier 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.
Lewis & Caplan, APLC is selling a Jack-In-The-Box restaurant on Burbank Drive in Baton Rouge, LA for $1,999,500 with a Cap rate of 6.1%. The lease has 13.5 years remaining. For more information, contact Robert A. Caplan, Lewis & Caplan, APLC, 3631 Canal Street, New Orleans, LA 70119; 504-486-7766, Fax 504-486-7769; Email: rc@lewis-caplan.com.
CB Richard Ellis, Inc. is selling Spanish Trace Village, a 15,785 sq.ft. center located on Blanco Road in San Antonio, TX for $1.8 million. For more information, contact Todd Mills or Rob Burlingame, CB Richard Ellis, Inc., 10101 Reunion Place, Suite 160, San Antonio, TX 78216; 210-507-1122/1123; Email: todd.mills@cbre.com and rob.burlingame@cbre.com; Web site: www.cbre.com.
DLC Management acquired Northern Lights Shopping Center, a center located at the intersection of Cleveland Avenue and Innis Road in Columbus, OH. The center is tenanted by A.J. Wright, Sears Outlet, Family Dollar, The Avenue, Dots, Rainbow Shops and six outparcels. There is also a vacant former Big Bear Supermarket. For more information, contact Guy W. Morris, DLC Management, 580 White Plains Road, Third Floor, Tarrytown, NY 10591; 914-631-3131, Fax 413-669-6793.
Palmer & Cay Properties is marketing Advance Auto Stores in NC and VA. 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.
Net Leased Investment Co. is representing a client looking to acquire a net-leased property in FL from between $1.5 million to $2.3 million. For more information, contact Michael Sheerin, Net Leased Investment Co., 120 Alexander Boulevard, Suite 18, Oviedo, FL 32765; 407-977-2448, Fax 407-977-0775; Email: msheerin@netleased.com; Web site: www.netleased.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.
Bognuda Commercial Real Estate Services is representing a client looking to acquire freestanding locations nationwide with a minimum of 12 years left on the lease with a Cap rate of 7.5%. The client is an all-cash buyer and can close quickly. The minimum purchase price is $3 million. 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.
Eastern Net Lease Advisors is looking to acquire strip centers and freestanding locations in secondary markets throughout New England from $500,000 to $5 million. The company requires sites that have 0.5 acres to 20 acres or buildings from 5,000 sq.ft. to 30,000 sq.ft. with short-term leases. For more information, contact Michael O’Mara, Eastern Net Lease Advisors, 21 Oak Street, Medway, MA 02053; 508-321-1422, Fax 508-321-1344; Email: mike@eastern1031.net; Web site: www.eastern.net.
A&B Properties, Inc. acquired a four-acre site located just two blocks from the Ala Moana Shopping Center in Honolulu, HI for $19.3 million. The 176,000 sq.ft. parcel is leased to a Hawaii subsidiary of Daiei Japan, which operates a 105,000 sq.ft. Daiei Department Store on the site. For more information, contact Meredith J. Ching, A&B Properties, Inc., 822 Bishop Street, Honolulu, HI 96813, PO Box 3440, Honolulu, HI 96801-3440; 808-525-6611, Fax 808-525-8447; Web site: www.abprop.com.
Horizon Realty Services, Inc. sold a former Walgreens located on East Ridge Road in Lansing, IL to Aetna Development, which entered into a long-term lease with Advance Auto. 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. Colliers International is selling a one-story building located just north of the intersection of Fairmont Parkway and the Sam Houston Parkway in southeast Pasadena, TX for $2.275 million with a Cap rate of 7.5%. The absolute NNN lease has increases in the sixth and 11th years. For more information, contact David M. Butler, Colliers International, 1300 Post Oak Boulevard, Suite 200, Houston, TX 77056; 713-830-2105, Fax 713-986-4405; Email: dbutler@collierstexas.com; Web site: www.collierstexas.com.
Inland Western Retail Real Estate Trust, Inc. acquired Oswego Commons Shopping Center, a 498,100 sq.ft. center in Oswego, IL for $35 million. The center is anchored by Dominick’s Finer Foods, T.J. Maxx and OfficeMax and is cotenanted by Petco, Famous Footwear, Panera Bread, Payless ShoeSource and EB Games. 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.
AAG Management Co. is representing a client looking to acquire single-tenant supermarket properties, freestanding big box retail or distribution center. The client will only do all-cash deals. For more information, contact Martin Kapelner, AAG Management Co., 421 Seventh Avenue, 15th Floor, New York, NY 10001; 212-564-7250, Fax 212-615-2736.
Equity One, Inc. completed the acquisition of the 155-acre Sunlake development parcel in Pasco County, FL for $12.6 million. The parcel was acquired by a joint venture with Amprop Development Corp. Equity One has a 60% controlling interest in the joint venture, and will earn an 8% preferred return on its capital contribution. The Sunlake parcel is located about 20 miles north of Tampa on the north side of State Road 54. For more information, contact Howard Sipzner, Equity One, Inc., 1696 NE Miami Gardens Drive, North Miami Beach, FL 33179; 305-947-1664; Web site: www.equityone.net.
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.
Realty Executives Commercial is selling a 5,000 sq.ft. building located on Clarewood Road in Houston, TX for $595,000. Area retail includes Sharpstown Mall and Bally Fitness Center. For more information, contact Patricia E. Bond, Realty Executives Commercial, 14780 Memorial Drive, Suite 103, Houston, TX 77079; 281-220-8167, Fax 281-496-0387.
Oakridge Investments is selling a 3,000 sq.ft. Taco Bueno restaurant located at the intersection of Southlake Boulevard and Kimball Road in Dallas, TX for $763,636. Area retail includes Leslie’s Pool Supply, Chick-fil-A, Alpha Graphics, Lowe’s Home Improvement, PetsMart, Home Depot, Albertsons and Costco. The company also is selling a 5,530 sq.ft. Chili’s restaurant located at the intersection of Highway 121 and Preston Road in Dallas, TX for $1,781,818. Area retail includes Stonebriar Mall, Billiards and Bar Stools, IKEA Home Furnishings and The Centre at Preston Ridge. For more information, contact Belinda Alaniz, Oakridge Investments, 8235 Douglas Avenue, Suite 815 – LB 49, Dallas, TX 75225; 214-361-2350, Fax 214-361-2375.
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.
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