|
Buyers & Sellers
|
|
|
Buyers & Sellers Eshenbaugh Land Co. is selling the following sites throughout Tampa Bay, FL: a site located on State Route 60 for $1.3 million; six outparcels starting at $550,000; five parcels located at the intersection of State Route 60 and U.S. 41 for $3.95 million and a Publix outparcel on U.S. 41 for $1.3 million. For more information, contact Bill Eshenbaugh, Eshenbaugh Land Co., 813-287-8787; Email: bill@thedirtdog.com. Windsor Realty Group is looking to acquire land and existing retail. For details, contact Robert C. Miller Jr., Windsor Realty, LLC, 407 East Cape Coral Parkway, Cape Coral, FL 33904; 239-560-5300; Email: rmillerjr@windsorrealtygroup.com 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. The center is anchored by Sears, McRae’s, Belk Department Stores and a 16-screen Premiere Cinemas movie theater. 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; Web site: www.preit.com.
Bryant Development Corp. is looking to acquire properties from the East Coast to the Midwest, as well as equity partners. For more information, contact Andrew B. Hascoe, Bryant Development Corp. 104 Smith Avenue, Mount Kisco, NY 10549; 914-701-4300; Web site: www.bryantdevelopment.com. AmCap and Hart Advisers formed a joint venture on behalf of a public pension to invest $270 million in supermarket-anchored centers east of the Mississippi River, in Phoenix, AZ and Denver, CO. The first acquisition was Copaco Center in Bloomfield, CT, which was acquired for $40.3 million. For more information, contact Jay Kaiser, AmCap, Inc., 1281 East Main Street, Stamford, CT 00902; 203-327-2001; Email: jkaiser@amcap.com. Or contact, William Holmes, Hart Advisers, Inc., One Mill Pond Lane, Simsbury, CT 06070; 860-651-4000, Fax 860-651-4016; Email: whh@hartadvisers.com Massell Commercial Real Estate finds acquisition and disposition opportunities for shopping centers, 1031 exchanges, and sale on development and NNN properties. For more information, contact Massell Commercial Real Estate, 5600 Roswell Road, Suite 350 North, Atlanta, GA 30342; 404-255-6810, Fax 404-252-3883; Email: realty@massell.com.
Hutensky Capital Partners is looking to acquire sites nationwide. The company has discretionary capital and can close within 30 days. For more information, contact Veronique Longo, Hutensky Capital Partners, 280 Trumbull Street, Second Floor, Hartford, CT 06103-3599; 860-527-2222, Fax 860-706-0076; Email: vlongo@hutenskygroup.com. Edgewood Properties is looking to acquire properties throughout DE, FL, MD, NJ, NY and eastern PA. The company prefers anchored centers with a minimum GLA of 65,000 sq.ft. The company also will acquire drug stores on land areas of 1.5 acres in residential areas and development sites. Edgewood will also consider joint ventures. For details, contact Edgewood Properties, 1260 Stelton Road, Piscataway, NJ 08854; 732-985-1900.
Fameco Real Estate sold the following centers: Colonial Commons Shopping Center, a 494,852 sq.ft. center in Harrisburg, PA; Franklin Market Place, a 223,741 sq.ft. center in Philadelphia, PA and Vermillion Square, a 44,987 sq.ft. center in Fairless Hills, PA. For more information, contact Fameco Real Estate, 15 East Ridge Pike, Suite 100, Conshohocken, PA 19428; 610-834-8000, Fax 610-834-1793; Web site: www.famecoretail.com. Kimco Realty Corp. is looking to invest equity in retail assets with regional owners and developers nationwide. The company will also invest equity to recapitalize existing partnerships and free up embedded equity without the tax impact of a sale. Kimco also will invest equity in future development. The company will offer equity from $2 million and up for single assets and portfolios and will focus primarily on retail sites. For more information, contact Kimco Realty Corp., 800 Bustleton Pike, Suite 1G, Richboro, PA 18954; 215-396-0972; Web site: www.kimcorealty.com. Zamias Services, Inc. and PWG Capital acquired five centers in the Pittsburgh, PA area from the Casto-Skilken Group. The centers include Miracle Mile Shopping Center in Monroeville; Great Southern Shopping Center and Raceway Plaza in Bridgeville; Southland 4 Seasons Shopping Center in Pleasant Hills and Northern Lights Shopping Center in Baden, PA. The sites have a total GLA of approximately two million sq.ft. For more information, contact Joseph Anthony, Zamias Services, Inc., 300 Market Street, Johnstown, PA 15901; 814-535-3563, Fax 814-536-5505; Email: janthony@zamias.net. Kin Properties, Inc. acquires 50 sites annually. The company prefers centers or freestanding locations, as well as highly leveraged properties with low or no cash flow. For more information, contact Lee Cherney, Kin Properties, Inc., 185 NW Spanish River Boulevard, Suite 100, Boca Raton, FL 33431; 561-620-9200, Fax 561-955-9921; Email: info@kinproperties.com.
Coldwell Banker Commercial NRT is selling centers throughout FL for between $1 million and $30 million. For more information, contact Allan Cohen, Coldwell Banker Commercial NRT, 20803 Biscayne Boulevard, Suite 102, Aventura, FL 33180; 305-215-3668, Fax 954-454-7216; Email: allancohen@shoppingcentersflorida.com; Web site: www.shoppingcentersflorida.com.
Fisher Auction Co., Inc. is offering the following properties with minimum bids starting at $450,000: Kmart Plaza, a 49,420 sq.ft. center in Cleveland, OH; Claremont Plaza, a 110,656 sq.ft. center in Ashland, OH; Hillsboro Shopping Center, a 58,564 sq.ft. center in Hillsboro, OH and Countryside Place, a 17,000 sq.ft. center in Lebanon, OH. For more information, contact Fisher Auction Co., Inc., 2745 East Atlantic Boulevard, Suite 200, Pompano Beach, FL 33062; 954-942-0917 or 800-331-6620, Fax 954-782-8143.
McCollom Realty Services Ltd. is looking to acquire strip centers and single-use retail in smaller Midwestern markets. The sites must have a population from 7,500 to 75,000. The company also is selling a 12,480 sq.ft. site located on West Diversey Avenue in Chicago, IL. For more information, contact McCollom Realty Services Ltd., 1010 Lake Street, Oak Park, IL 60301; 708-383-6450; Web site: www.mccollomrealty.com.
Hoty Enterprises, Inc. is offering sites from one acre to 30 acres directly across from the Kalahari Waterpark Resort in Sandusky, OH. For more information, contact John M. Hoty, Hoty Enterprises, 4918 Milan Road, Sandusky, OH 44870; 419-609-7000 or 800-416-4689; Web site: www.hoty.com.
Lamar Cos. is selling the following centers: Dick’s Plaza, an 85,000 sq.ft. center located on Central City Parkway in Westland, MI. The center is anchored by Dick’s Sporting Goods, Sports Rehab and Garden City Hospital; and Ridgefield Center, a 170,218 sq.ft. center located on South Danville Bypass in Danville, KY for $8.417 million. The center is anchored by Kmart, Hibbett Sports, Goody’s, Tractor Supply Co., Sam Goody and Rite-Aid. For more information, contact Larry Lang, Lamar Cos., 10288 West Chatfield Avenue Suite 200, Littleton, CO 80128; 303-904-1122, Fax 303-904-1133; Web site: www.lamarcompanies.com. Colliers Lanard & Axilbund is selling three former WaWa locations in southern NJ. For more information, contact David Vender, Colliers Lanard & Axilbund, 399 Market Street, Philadelphia, PA 19106; 215-928-7575.
Diversified Commercial Investments is representing a client looking to acquire properties throughout southern CA for between $5 million and $10 million. The centers must have at least a 6% Cap rate and be 80% occupied. For more information, contact Allen Yadgari, Diversified Commercial Investments, 1055 Wilshire Boulevard, Suite 1670, Los Angeles, CA 90017; 213-225-7112, Fax 213-225-7110. Coldwell Banker Commercial – Investment Services Group is looking to acquire credit-anchored, multi-tenant centers and single-tenant credit retail properties for between $4 million and $15 million. The company is not looking for shadow-anchored centers and is not willing to assume high-leverage or high interest rate debt. Demographics must have an average household income of at least $40,000. Preference is given to properties located in the southern U.S. 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. Borrus Associates is looking to acquire anchored, strip, neighborhood and power centers throughout CT, DE, MD, NJ, NY and PA. For more information, contact Julius Borrus, Borrus Associates, 3333 Highway 9, Old Bridge, NJ 08857; 732-679-4100. Urstadt Biddle Properties, Inc. is looking to acquire retail sites throughout the suburbs of New York, NY. The company offers all-cash transactions or REIT partnership tax-advantage transactions. For more information, contact John Merritt or Jim Aries, Urstadt Biddle Properties, Inc., 321 Railroad Avenue, Greenwich, CT 06830; 203-863-8200 Ext. 211/224, Fax 203-861-6755; Web site: www.ubproperties.com. Upland Real Estate Group, Inc. sold the following three Jiffy Lube properties: a 4,073 sq.ft. location in St. Peter, MO for $1.2 million; a 1,500 sq.ft. location in Zanesville, OH for $1 million and a 4,073 sq.ft. location in Cedar Park, TX for $1.4 million. For more information, contact Brier E. Swing, Upland Real Estate Group, Inc., 250 Marquette Avenue, Suite 575, Minneapolis, MN 55401-1872; 612-332-6600, Fax 612-376-4489. Baumgard Development Corp. is looking to acquire shopping centers and land for centers throughout FL. The company prefers strip centers from 35,000 sq.ft. to 40,000 sq.ft. and supermarket-anchored centers of at least 100,000 sq.ft. The properties must be on major through streets or avenues. For more information, contact Daniel Baumgard, Baumgard Development, 1575 San Ignacio Avenue, Suite 100, Coral Gables, FL 33146; 305-661-0110. The Goldstein Group is selling a Bassett Furniture store located on Route 70 West in Brick, NJ for $4.2 million with a Cap rate of 6%. The store is situated on a land area of 3.02 acres. For more information, contact Alan Goldstein, Ari Gasner or Wayne King, The Goldstein Group, Glen Rock Plaza, 266 Harristown Road, Suite 105, Glen Rock, NJ 07452; 201-703-9700; Emails: agoldstein@thegoldsteingroup.com; Web site: www.thegoldsteingroup.com. Staubach Retail Services is selling Deptford Crossing, a 202,000 sq.ft. center located off Route 55 in Deptford, NJ for $25.9 million with a Cap rate of 7.9%. The project is anchored by Marshalls, T.J. Maxx, PetsMart, Michaels, OfficeMax, JoAnn and ULTA and is 98% occupied. Area demographics include a population of 220,000 within five miles. For more information, contact David T. Wojciechowski, Staubach Retail Services, Tower 49, 12 East 49th Street, New York, NY 10017; 212-418-2668, Fax 212-418-2675; Email: dtwoj@staubach.com. Hanley Brown Group Real Estate Advisors represented both buyer and seller in the sale of Lincoln Square, a 24,000 sq.ft. center located at the intersection of Magnolia Avenue and Lincoln Road in Riverside, CA for $2.745 million. The buyer was Sparks Property Investments, LLC, while the seller was a private investor. For more information, contact Ed Hanley, Hanley Brown Group Real Estate Advisors, 2569 McCabe Way, Suite 100, Irvine, CA 92614; 949-585-7611; 949-585-7677, Fax 949-585-7611; Email: info@hanleybrown.com; Web site: www.hanleybrown.com.
Linear Retail Properties, LLC acquired Daniel Webster Plaza, an 82,000 sq.ft. center located on Daniel Webster Highway in Nashua, NH for $13.85 million. The center is tenanted by Pier 1 Imports, Jennifer Convertibles, Lenscrafters, Mattress Giant, Bank of New Hampshire and Cassandra 2000 day spa. The center currently has 48,000 sq.ft. of retail space available. For more information, contact Linear Retail Properties, LLC, 5 Burlington Woods Drive, Burlington, MA 01803; 781-273-5665, Fax 781-273-5683; Email: info@linearretail.com; Web site: www.linearretail.com. The Woodmont Co. completed negotiations on the sale of 2.59 acres to Fire Mountain Restaurants in Weatherford, TX. The restaurant will be located at Weatherford Town Center and will open during November. For more information, contact The Woodmont Co., 2100 West 7th Street, Fort Worth, TX 76107-2306; 817-732-4000, Fax 817-735-4738; Web site: www.woodmont.com. JBG Rosenfeld Retail acquired an eight-acre parcel in Herndon, VA for the development of Woodland Park Crossing, a 143,000 sq.ft. center located at the intersection of Sunrise Valley Drive and Monroe Street. The center will be anchored by Harris Teeter supermarket. For more information, contact JBG Rosenfeld Retail, 4445 Willard Avenue, Suite 700, Chevy Chase, MD 20815; 301-657-0700, Fax 301-657-9850; Web site: www.jbgr.com. Quine & Associates, Inc. is selling two supermarket-anchored centers located in the southwestern U.S. for $15 million. For more information, contact Douglas Wilder, Quine & Associates, Inc., 301 South Sherman, Suite 100, Richardson, TX 75081; 972-669-8440 Ext. 242, Fax 972-783-8901; Email: dwilder@quine.com. Faris Lee Investments represented AIG Baker in the sale of a 320,469 sq.ft. portion of Olathe Station, a 611,643 sq.ft. center located in Olathe, KS to PASSCO. The two-phased retail center is located at the intersection of West 119th Street and South Strang Line Road. Phase I is anchored by Super Target, Bed Bath & Beyond, OfficeMax, Bassett Furniture and PetsMart and includes an additional 75,000 sq.ft. of small shop space. Phase II is 98% occupied and is tenanted by AMC Theater, Michaels, Brook Mays Music, Joe’s Crabshack, Zio’s Italian Restaurant, Texas Roadhouse and Rock Bottom Pizza, as well as 54,000 sq.ft. of additional small shop space. PASSCO acquired all the buildings except the AMC Theatre parcel. The company also is selling the following properties: a 40,813 sq.ft. center located in Rancho Santa Margarita, CA for $12.5 million with a Cap rate of 7%; a 215,103 sq.ft. Safeway-anchor center located in Nogales, AZ for $18.22 million with a Cap rate of 8%. The center is situated on a land area of 18.4 acres and is anchored by Safeway, Walgreens, Jack-In-The-Box, Radio Shack, Big Lots, Falles Paredes, Stage Stores and Curves for Women; and County Fair Mall, a 397,071 sq.ft. mall located in Woodland, CA for $22 million. The center is 85.6% occupied and is anchored by Mervyn’s, Target, JCPenney, Gottschalks, Footlocker, Payless Shoes, GNC and Cinemark Movies. For more information, contact Faris Lee Investments, 2301 DuPont Drive, Suite 100, Irvine, CA 92612; 949-221-1800, Fax 949-221-1830; Email: info@farislee.com; Web site: www.farislee.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.
Wissman Commercial Real Estate is representing an investor looking to acquire retail and office properties throughout FL from $5 million and up. For more information, contact Joe Wissman, Wissman Commercial Real Estate, 23439 Michigan Avenue, Suite 3W, Dearborn, MI 48124; 313-561-1900, Fax 313-561-1903; Email: propone@ix.netcom.com.
Marcus & Millichap is selling the following centers throughout TX: Valley Dale Crossing, a 3,950 sq.ft. center located on North Central Expressway in Dallas for $1.05 million with a Cap rate of 7.2%. The center is anchored by Auto Care Clinic and Hertz Rental; MJ Crossing, a 49,125 sq.ft. center located on North Town East Boulevard in Mesquite for $4.375 million with a Cap rate of 8%. The center is anchored by Prestige Furniture; Handsboro Square, a 156,544 sq.ft. center located on East Pass Road in Gulfport, MS for $8.1 million with a Cap rate of 8%. The center is anchored by Kmart and Sav-A-Center; Colleyville Towne Square, a 32,330 sq.ft. center located on Colleyville Boulevard in Colleyville for $7.7 million with a Cap rate of 7.7%; Lake June Retail Center, a 10,117 sq.ft. center located on Lake June Road in Dallas for $900,000 with a Cap rate of 9.75%; and The Shoppes at Lakeline Village, a 19,913 sq.ft. center located on Cypress Creek Road in Cedar Park for $5.5 million with a Cap rate of 8.27%. The center is shadow-anchored by Randall’s Grocery. For more information, contact Stephen Maulden, Marcus & Millichap, 14185 North Dallas Parkway, Suite 980, Dallas, TX 75254; 972-980-4800 Ext. 151, Fax 972-490-1501; Email: smaulden@marcusmillichap.com; Web site: www.marcusmillichap.com. Eastern Net Lease Advisors is selling a former freestanding Burger King located at the intersection of Main Street and Route 28 in Yarmouth, MA. The 3,068 sq.ft. building includes a drive-thru and is situated on a land area of 1.23 acres. 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.eastern1031.net.
KGK Commercial Group, LLC is selling Walgreens stores located throughout FL, GA, MI, PA and TN with Cap rates from 6.19% to 6.75%. For more information, contact Kevin K. Kowalski, KGK Commercial Group, LLC, 14026 Trouville, Suite 200, Tampa, FL 33624; 813-629-7299; Email: kgkowalski@tampabay.rr.com.
Landmark Properties Group acquired the following three centers throughout Dayton, OH from Walpert Properties Group: Alex Plaza, Prestige Plaza and Yankee Station, which have a combined GLA of 78,000 sq.ft. For more information, contact Landmark Properties Group, 4848 Route 8, Unit 2 Allison Park, PA 15101; 724-443-9000, Fax 724-443-9010. Advantis Real Estate Services Co. is selling a land area of 10.51 acres on the 158 Bypass at Mile Post 11 in Nags Head, NC.For more information, contact Tommy Drew, Advantis Real Estate Services Co., 101 West Main Street, Suite 900, Norfolk, VA 23510; 757-627-0661; Email: tdrew@advantisgva.com. Campanelli Cos. is looking to acquire centers with a GLA of 100,000 sq.ft. to 250,000 sq.ft. with an occupancy of 95% throughout MA. For more information, contact Ron Billings, Campanelli Cos., PO Box 850985, 1 Campanelli Drive, Braintree, MA 02185-0985; 781-849-1442. CB Richard Ellis, Inc. negotiated the sale of two 13,503 sq.ft. Osco Drug stores in Tucson, AZ for $6.7 million. The company also is selling a land area of 23 acres at the intersection of Valencia Road and Nexus Road in Tucson, AZ for $6 psf. For more information, contact Katherine Haug, CB Richard Ellis, Inc., 2415 East Camelback Road, Phoenix, AZ 85016; 602-735-5555, Fax 602-735-5655; Email: katherine.haug@cbre.com; Web site: www.cbre.com. For more information regarding the 23-acre site in Tucson, contact Nancy McClure, CB Richard Ellis, Inc., 3385 North Campbell Avenue, Tucson, AZ 85719; 520-323-5100, Fax 520-323-5156. Capital Realty Advisors, Inc. is looking to acquire investment opportunities from $5 million to $100 million throughout the southeastern U.S., including AZ, NV and TX. The company prefers multi-tenant retail centers with a GLA of 100,000 sq.ft. anchored by supermarkets or national credit retailers. The centers should have a Cap rate of 7% or greater.For more information, contact Donna McDonald, Capital Realty Advisors, Inc., 600 Sandtree Drive, Suite 109, Palm Beach Gardens, FL 33403; 561-624-5888, Fax 561-624-5827; Email: dmcdonald@capitalrealtyadvisors.com. Equimax Mortgage and Loan is selling Frostburg Shopping Plaza, a 114,475 sq.ft. center located in Frostburg, MD for $3.9 million with a Cap rate of 9.48%. The center is situated on a land area of 14 acres and is currently 52% occupied. Tenants include Subway and Rite Aid. Area retail includes Pizza Hut. For more information, contact Bobby Broukhim, Equimax Mortgage and Loan, 12121 Wilshire Boulevard, Suite 1400, Los Angeles, CA 90025; 310-873-9547, Fax 310-207-6308; Email: babak@emaxloan.com. Triangle Commercial is selling a 5,500 sq.ft. multi-tenant 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. Phase One Realty, Inc. is selling Walgreens locations in NM, NV and TX with Cap rates of 6.25% and absolute NNN 25-year terms. For more information, contact Robert H. Fippinger, Phase One Realty, Inc., PO Box 22865, Santa Fe, NM 87502, 2011 Botulph Road, Santa Fe, NM 87505; 505-986-2942, Fax 505-988-5134; Email: rhf@phaseonerealty.com. Richman Realty Associates is representing a client looking to acquire up to four NN or NNN properties throughout FL or TX. Preferred sites include Steak N’ Shake, Dunkin’ Donuts, Cracker Barrel or Pier 1 Imports. 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. Coldwell Banker Commercial McGuire Mears & Associates is looking to acquire NNN-leased national restaurant properties throughout the Midwest for between $1 million and $3 million. The company will also acquires sites throughout the southeastern U.S. For more information, contact Joel Patch, Coldwell Banker Commercial McGuire Mears & Associates, 400 Midland Court, Suite 101, Janesville, WI 53546; 608-752-6325. 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. 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. 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. Vornado Realty Trust agreed to acquire the retail portion of the former Westbury Hotel in New York, NY for $113 million. The 17,000 sq.ft. building, whose retail space is fully occupied by retailers including Cartier, Chloe and Gucci, is located on Madison Avenue, between 69th and 70th Streets. The building also has 47 two and five-bedroom condominiums. For more information, contact Vornado Realty Trust, 888 7th Avenue, New York, NY 10019; 212-894-7000, Fax 201-587-0600; Web site: www.vno.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. 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. |