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Buyers & Sellers
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Buyers & Sellers Capital Pacific is selling the following sites: a 24,000 sq.ft. Staples located on North 11th Avenue in Hanford, CA for $6.763 million; a 9,600 sq.ft. Hollywood Video located on West Lacey Boulevard in Hanford, CA for $2.404 million; a 24 Hour Fitness located on North Scottsdale Road in Scottsdale, AZ for $12.35 million; a 2,940 sq.ft. 7-Eleven located on East Hebron Parkway in Carrollton, TX for $1.685 million; a 13,357 sq.ft. Sav-On Drugs located at the intersection of Mount Vernon Avenue and Barton Road in Grand Terrace, CA; a 3,333 sq.ft. Oscars Restaurant located on Brawley School Road in Mooresville, NC for $1.26 million; an 11,600 sq.ft. Eckerd store located on Liberty Street in Franklin, PA for $1.75 million and a 6,000 sq.ft. Dollar Tree located on 9th Street in Crescent City, CA for $1.46 million. For more information, contact Chris Kostanecki, Capital Pacific, Four Embarcadero Center, Suite 2570, San Francisco, CA 94111; 415-274-2700, Fax 415-274-2710; Web site: www.capitalpacific.com.
CFO Capital Partners is selling a site located in Atlanta, GA with a Cap rate of 8.5%. For more information, contact CFO Capital Partners, 437 Fox Road, First Floor, Bridgeport, NY 13030; 315-633-9653, Fax 775-248-6603; Web site: www.cfocapitalpartners.com.
The Simon Cos. is looking to acquire 15 to 30 acres located near retail centers throughout GA, MD, NC, SC, TN and VA. The company looks to acquire land for townhouse/apartment development near new and proposed retail sites. For more information, contact Ben Simon or Kevin Tucker, The Simon Cos., 3400 Building, Suite 200, Virginia Beach, VA 23452; 757-340-3669, Fax 757-631-9155; Email: bsimon@palms.net.
Anchor Commercial Real Estate Services specializes in retail leasing, commercial brokerage, construction management, property management and retail and commercial development. The company currently has restaurant sites available, as well as retail and turn key development opportunities. For more information, contact Michael D. Elmore or Will Sherrod, Anchor Commercial Real Estate Services, 126 Seven Farms Drive, Suite 110, Charleston, SC 29492; 843-352-0070/843-747-2292, Fax 843-747-1070.
Colorado Mountain Commercial is selling a center located in Gunnison, CO for $1.575 million. For more information, contact Thomas Morgan, Colorado Mountain Commercial, 246 East 1st Street, Salida, CO 81201; 719-539-1888, Fax 719-539-1999; Web site: www.coloradomountaincommercial.com.
KWL Investments, LLC is selling a 14,520 sq.ft. CVS Pharmacy located in West Palm Beach, FL for $5.3 million. The store is situated on a land area of 1.76 acres. The site has 22 years left on a lease with three, five-year options to extend. For more information, contact Kent Landers, KWL Investments, LLC, 407 Beech, Vancouver, WA 98661; 360-513-1441.
Rein & Grossoehme sold Union Hills Plaza, a 9,008 sq.ft. center located at the intersection of 99th Avenue and Union Hills in Sun City, AZ for $1.25 million. The center was 46% occupied at the time of closing. For more information, contact Mark Rein, Rein & Grossoehme, 3900 East Camelback Road, Suite 408 North, Phoenix, AZ 85018; 602-954-7000, Fax 602-954-7001; Web site: www.high-yield.com.
Crossroads Commercial Real Estate is selling a land area of 7.7 acres for the Phase II expansion of a ShopRite-anchored center located in Montgomery, NY. Preliminary approvals are for an 86,000 sq.ft. expansion with pad sites. For more information, contact Crossroads Commercial Real Estate, One International Boulevard, Suite 400, Mahwah, NJ 07495; 201-512-8791, Fax 201-512-8830; Email: crosscommre@excite.com.
Gregory Greenfield & Associates, Ltd. acquired Central Mall, an 860,830 sq.ft. center regional mall located in Fort Smith, AR. The mall is anchored by Dillard’s, JCPenney and Sears and features over 84 specialty stores and approximately 126,000 sq.ft. of office space. The acquisition was completed in the name of Fort Smith Mall Partners, L.P., a partnership of private investors. The center is tenanted Abercrombie & Fitch, Aeropostale, Children’s Place, Dallas Cowboys Pro Shop, Garfield’s and Motherhood Maternity. For more information, contact Amy Kuehn or Teresa Richards, Gregory Greenfield & Associates, Ltd., 124 Johnson Ferry Road, NE, Atlanta, GA 30328; 404-236-2300, Fax 404-236-2299.
Williams Realty Group is looking to acquire sites with value-added potential throughout the Midwest, with a focus on St. Louis, MO; Columbus, OH; Lansing, MI; Chicago, IL and IN for $3 million with a Cap rate of 9.25%. The company prefers sites with a GLA of 15,000 sq.ft. to 100,000 sq.ft. For more information, contact Ron Bell, Williams Realty Group, 9830 Bauer Drive, Indianapolis, IN 46280; 317-574-5480, Fax 317-829-2052; Email: twood@wr-group.com; Web site: www.wrtroup.com.
Sperry Van Ness completed the sale of Alante Plaza, a 6,254 sq.ft. center located at the intersection of 55th Avenue and Bell Road in Glendale, AZ for $2.475 million. Sperry Van Ness represented the buyer, DL Bell, LLC. The seller was 55th & Bell, LLC. The center is currently 100% leased to Le Grocerie and Kokopele Restaurant. The company also is selling an Eckerd drugstore in Chesapeake, VA for $6.018 million with a Cap rate of 6.25%. The company also is selling Pilot Knob Square, a center located in Charlotte, NC for $3.235 million with a Cap rate of 7.92%. For more information, contact David Ebeling or Megan Monfort, Sperry Van Ness, 18881 Von Karman, Suite 800, Irvine, CA 92612; 949-225-1883/1894; Emails; david.ebeling@svn.com and megan.monfort@svn.com; Web site: www.svn.com. For more information regarding the Eckerd location or Pilot Knob Square, contact Sperry Van Ness Lighthouse Commercial Realty, 13900 Conlan Circle, Suite 110, Charlotte, NC 28277; 704-759-3800 Ext. 17 and Ext. 14.
Fursse & Hall Realty, Inc. is selling a 36,000 sq.ft. office/retail center located in Fremont, WA. For more information, contact Keoni Fursse, Fursse & Hall Realty, Inc., 536 Westlake Avenue North, Seattle, WA 98109; 206-381-3810, Fax 206-381-3838; Web site: www.fhrealtyinc.com.
Wissman Commercial Real Estate is representing a client looking to acquire single-tenant or multi-tenant centers from $3 million to $50 million. The company also is representing a client looking to acquire retail or multi-family locations for between $15 million and $75 million. 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.
Realty Investment Corp. acquires residential tracts and commercial sites throughout FL. For more information, contact Dennis Donovan, Realty Investment Corp., 920 Dartmoor Street North, St. Petersburg, FL 33701; 727-224-1959.
Zar Property NY is looking to acquire anchored centers nationwide. The company prefers value-added opportunities below replacement cost and a minimum of 50,000 sq.ft. in NY and a minimum of 100,000 sq.ft. outside of NY. For more information, contact Zar Property NY, 49 West 37th Street, 10th Floor, New York, NY 10018; 212-944-7979, Fax 212-704-0462; Web site: www.zarproperty.com.
Southeast Capital Investments, Inc. is selling a site located 1.5 blocks from Huntsville Hospital complex in Huntsville, AL. Area demographics include a population of 6,250 within one mile earning $47,859 as the average household income. The company also is selling a land area of 5.48 acres in Anniston, AL for $1.5 million and a land area of 11.58 acres in Anniston for $2.3 million. Area retail includes Wal*Mart Supercenter and Wachovia Bank. For more information, contact Brent Kent, Southeast Capital Investments, Inc., 1021 Noble Street, Suite 206, Anniston, AL 36201; 256-238-8778, Fax 256-238-8775.
Alba Consulting Corp. acquires and sells retail properties, and also specializes in tenant selection and shopping center management. For more information, contact John Atanasio, Alba Consulting Corp., 1420 Court Street, Clearwater, FL 33756; 727-443-0718, Fax 727-447-2369.
Block & Co., Inc. is looking to acquire retail sites, restaurant locations, shopping centers and hotels in the Kansas City, MO area. For more information, contact David M. Block, Block & Co., Inc., 605 West 47th Street, Suite 200, Kansas City, MO 64112; 816-932-5550, Fax 816-932-5501; Email: dblock@blockandco.com.
Syndicated Equities Corp. brokered the sale of two freestanding RBC Centura Bank branches located in suburban Atlanta, GA for $5.85 million. Area retailers near the locations include Publix, Kroger, Eckerd, Bank of America and Wachovia Bank. For more information, contact Syndicated Equities Corp., 1345 North Wells Street, Chicago, IL 60610; 312-640-9020.
The Swiss Group is selling an AutoZone store located on East Washington Street in Indianapolis, IN with a Cap rate of 6.5%. The building is situated on a land are of 0.75 acres. The company also is selling a 21,000 sq.ft. former Frank’s Nursery located on Rockville Road in Indianapolis, IN for $1.65 million. For more information, contact Frank E. Swiss, The Swiss Group, 3985 West 106th Street, Suite 110, Carmel, IN 46032; 317-816-9270, Fax 317-816-9271; Email: fswiss@swissgroup.com; Web site: www.swissgroup.com.
Saad & Vallas Realty Group, LLC is selling a 16,595 sq.ft. strip center located in Mobile, AL for $3.62 million with a Cap rate of 7.5%. The center is shadow anchored by a Wal*Mart Supercenter. The center is situated on a land area of 1.86 acres and is tenanted by Payless Shoes, Rhino Video, Nextel, Firehouse Subs, All About Hair & Tan, Approved Cash Advance, Tender Touch and Boiling Point. For more information, contact Christie Amezquita, Saad & Vallas Realty Group, LLC, 3290 Dauphin Street, Mobile, AL 36606; 251-478-7223; Email: camezquita@saad.com; Web site: www.saad.com.
Net Leased Investment Co. is selling an AutoZone store located in Odessa, TX for $923,077 with a Cap rate of 6.5%. The site has a 20-year NN lease. For more information, contact Bill Ellison, Net Leased Investment Co., 120 Alexandria Boulevard, Suite 18, Oviedo, FL 32765; 407-977-2448, Fax 407-977-0775; Email: bill@netleased.com.
DDR, Inc. is selling a land area of seven acres at the intersection of Ronald Reagan Parkway and Five Forks Trickum in Lawrenceville, GA for $1.8 million. Area demographics include a population of 66,000 within three miles earning $88,000 as the average household income. The company also is selling a 5.5 acre corner site at the Mall of Georgia located at the intersection of Highway 324 and Cross Road in Buford, GA for $4.5 million with a Cap rate of 9.78%. For more information, contact Jason Durham, DDR, Inc.; 678-662-2857, Fax 770-822-2144; Email: jasondurhamc21@yahoo.com.
Hull Storey Retail Group acquired Twin Rivers Mall, a 360,500 sq.ft. center located in New Bern, NC. The center is anchored by Belk and JCPenney. For more information, contact Hull Storey Retail Group, 3632 Wheeler Road, Augusta, GA 30909; 706-863-2222, Fax: 706-868-7457; Web site: www.hullstorey.com.
Berkeley Capital Advisors is selling Bradford Square Mall, a 295,531 sq.ft. center located in Hopkinsville, KY. The center is currently 93% occupied and is anchored by JCPenney, Peebles, Goody’s, Dawahares and Dollar Tree. For more information, contact Alex Quarrier, Berkeley Capital Advisors, 831 East Morehead Street, Charlotte, NC 28202; 704-714-2365, Fax 704-379-1988; Email: quarrier@berkeleycap.com.
Calkain Realty Advisors is representing a client looking to acquire Walgreens or CVS locations throughout the eastern U.S. from $4 million to $6 million with a Cap rate above 6%. The client prefers NNN leases with greater than 15 years remaining. 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.
Adams-Nelson and Associates, Inc. is selling Cruz’n Wheels, a recreational vehicle sales and service center, located in Winchester, VA for $875,000. The site is situated on a land area of 0.47 acres. For more information, contact Russell Clay, Adams-Nelson and Associates, Inc., 303 South Loudoun Street, Winchester, VA 22601; 540-667-2424, Fax 540-667-2441; Email: russellclay@adamsnelson.com; Web site: www.russellclay.com.
Coldwell Banker Alliance Commercial is selling a mixed-use building with an apartment on the second story and retail at street level in downtown Indianapolis, IN for $185,000. The 6,200 sq.ft. site has a basement suitable for storage. For more information, contact C. Jayne Messer, Coldwell Banker Alliance Commercial, 598 West Carmel Drive, Carmel, IN 46032; 317-844-0440.
Brooks, Torrey & Scott, Inc. is selling Liberty Rock Shopping Center, a 175,876 sq.ft. center located at the intersection of Boston Post Road and Route 1 in Milford, CT for $16 million. The center includes pad sites for Walgreens and Taco Bell and is situated on a land area of 20.44 acres. The site has an average daily traffic count of 30,000 vehicles. Area demographics include a population of 142,295 within five miles earning $65,256 as the average household income. For more information, contact Torrey D. Brooks, Brooks, Torrey & Scott, Inc., 542 Westport Avenue, 2nd Floor, Norwalk, CT 06851; 203-847-2616, Fax 203-840-4848; Email: torrey@btsrealty.com.
Aries Deitch & Endelson is looking to acquire a single-floor building with a GLA of 15,000 sq.ft. to 20,000 sq.ft. within Rockland County, NY or northern NJ. For more information, contact Julian Aronin or Manny Berger, Aries Deitch & Endelson, 110 South Central Avenue, Hartsdale, NY 10530; 914-949-2800 Ext. 115/106, Fax 914-949-2424; Email: mannyberger@ade-re.com.
American Retail Properties is selling 145 acres of land located at the intersection of Interstate 290 and Route 140 in Boylston, MA. The site has an average daily traffic count of 84,300 vehicles. Area demographics include a population of 367,013 within 10 miles earning $69,969 as the average household income. For more information, contact David Nugent or David Birmingham, American Retail Properties, 148 State Street, Suite 600, Boston, MA 02109; 617-778-6500, Fax 617-778-6533; Emails: dnugent@americanrp.com and dbirmingham@americanrp.com; Web site: www.americanrp.com.
Faris Lee Investments acquired 89,079 sq.ft. of Winchester Springs, a 110,000 sq.ft. center located at the intersection of Winchester Road/Route 79 and Murrieta Hot Springs Road in Murrieta, CA for $16 million. A portion of the center was sold by Krausz Cos. to Wolff Properties as a 1031 exchange. The center is currently 100% occupied and is anchored by Albertsons. Cotenants include Blockbuster Video, McDonald’s and Bank of America. 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.
The Shopping Center Group is selling Northwest Plaza, a 50,740 sq.ft. center located on Interstate 55 in Senatobia, MS. The center is currently 97.6% occupied and is tenanted by Hibbett Sports, Movie Gallery, Kellwood Outlet and Radio Shack. The center has a Cap rate of 8.87%. The company also is selling River Shoals Village, a 72,962 sq.ft. center located in Atlanta, GA. The center is currently 100% occupied and is tenanted by Wayfield Foods, Family Dollar, Papa John’s, Allstate Insurance and Church’s Chicken. The center is being offered at an 8% Cap rate. The company also is selling FedEx Kinko’s Center, a 10,000 sq.ft. center located in Athens, GA. The center is currently tenanted by FedEx/Kinko’s and Verizon Wireless. Area retail includes Stein Mart, Borders Books & Music and T.J. Maxx. The center has a Cap rate of 7.38%. The company also is selling a HiFi Buys Center, a 28,000 sq.ft. center located adjacent to Interstate 85 in Atlanta, GA. The center is currently 72% occupied and is being offered at a Cap rate of 7.72%. Area retail includes Gwinnett Place Mall, which is anchored by Macy’s, Sears and JCPenney. For more information, contact The Shopping Center Group, LLC, 3101 Towercreek Parkway, Suite 200, Atlanta, GA 30339; 770-955-2434, Fax 770-951-0054; Email: tscginvestments.com; Web site: www.theshoppingcentergroup.com.
Breslin Realty is selling a land area of 5.9 acres at the intersection of Doyle Court and Larkfield Road in East Northport, NY for $4 million. Area demographics include a population of 198,172 within five miles earning $106,223 as the average household income. The site has an average daily traffic count of 30,000 vehicles. Area retail includes Sears, Old Navy, Home Depot, Best Buy, Stop & Shop, Marshalls, T.J. Maxx, Barnes & Noble, Macy’s, Target, Sports Authority, Modell’s, Chili’s, Ulta, Babies “R” Us, Borders Books, Applebee’s, Pathmark and Trader Joe’s. For more information, contact Wilbur Breslin, Breslin Realty, 500 Old Country Road, Garden City, NY 11530; 516-741-7400 Ext. 223, Fax 516-741-5621.
KAM Realty is selling a 12,000 sq.ft. NNN leased retail building located at the intersection of Bear Valley Road and Interstate 15 Freeway in Victorville, CA for $6.42 million. The site is 100% leased to national and regional tenants. Demographics include a trade-area population of 300,000 earning $50,000 as the average household income. For more information, contact Yury Ferkelman, KAM Realty, 8730 Wilshire, Suite 415, Beverly Hills, CA 90211; 310-659-7999, Fax 310-659-4396; Email: yuryf@comcast.net.
Century 21 Westbank is looking to acquire a strip center located in TX for between $5 million and $20 million. The center must have credit tenants, recent construction and a good rate of return. For more information, contact William Lake, Century 21 Westbank, 3355 Bee Caves Road, Suite 304, Austin, TX 78746; 512-589-5842, 512-306-0424.
Passco Real Estate Enterprises, Inc. is looking to acquire multi-tenant retail, multi-family and industrial properties from $5 million to $40 million throughout the western U.S. Preferred retail sites include supermarket-anchored, Class A neighborhood and community centers with a minimum of 80,000 sq.ft. of GLA. For more information, contact Paul Mittman, Passco Real Estate Enterprises, Inc., 96 Corporate Park, Suite 200, Irvine, CA 92606; 949-442-1000, Fax 949-442-2460; Email: pmittman@passco.net.
Lic Commercial is representing a client looking to acquire 1,000 sq.ft. of retail space in a high-traffic center located in West Kendall, FL. The client also is looking to acquire centers. For more information, contact Mike McHugh, Lic Commercial, 126 Aragon Avenue, Coral Gables, FL 33134; 305-442-4740, Fax 305-442-4693.
Mid States Development, Inc. is selling SouthRidge Center, a 65,000 sq.ft. center located in Rice Lake, WI for $6.575 million. The center is situated on a land area of approximately five acres. Area retail includes Wal*Mart, ShopKo, Menard’s, Kmart and Cedar Mall. The center is currently 100% occupied. For more information, contact David K. Sanders, Mid States Development, Inc., 2160 EastRidge Center, Eau Claire, WI 54701; 715-833-2225, Fax 715-833-0808; Email: dsanders@midstatesdevelopment.com.
Paramount Realty sold Seaman’s Plaza, a center located on Route 35 in Eatontown, NJ to Vornado Realty Trust. The center is tenanted by Seaman’s Furniture and SkiBarn. For more information, contact Maurice Zekaria, Paramount Realty, 1195 Route 70, Suite 2000, Lakewood, NJ 08701; 732-886-1500 Ext. 102, Fax 732-886-1690; Email: mzekaria@paramountrealtyservices.com.
Brock Development is selling a land area of 2.68 acres at the intersection of Blue Heron and Congress in West Palm Beach, FL. For more information, contact Peter Brock, Brock Development, 1551 Forum Place, Building 100, West Palm Beach, FL 33401; 561-684-1040, Fax 561-686-9940.
Wilson Commercial Real Estate is marketing CityPlace at Long Beach, a 365,000 sq.ft. center located near West 4th Street, West 6th Street, Pine Avenue and Elm Avenue in Long Beach, CA. The mixed-use development also includes 341 residential units, including 120 residential condominiums and 221 apartment rental units. The center is anchored by Wal*Mart, Nordstrom Rack, Ross Dress For Less, Big 5 Sporting Goods, Anna’s Linens, Ashley Stewart, Footaction, Motherhood Maternity, Payless Shoes and Panda Express. For more information, contact Wilson Commercial Real Estate, 11601 Wilshire Boulevard, Suite 1650, Los Angeles, CA 90025; 310-473-4424.
CB Richard Ellis, Inc. represented Friars Village 02, LLC and Scottsdale Crossing, LLC in the sale of Friars Village Shopping Center, a 49,452 sq.ft. center located at the intersection of Friars Road and Mission Gorge Road in San Diego, CA for $13.6 million. The center is currently 100% leased and is tenanted by Petco, Pizza Hut, Rubio’s Baja Grill, Starbucks Coffee, Jamba Juice, San Diego Brewing Co. and Einstein Bagels. For more information, contact, Reg Kobzi, CB Richard Ellis, Inc., 4365 Executive Drive, Suite 900, San Diego, CA 92121; 858-546-4604/858-546-4600, Fax 858-546-3985; Email: reg.kobzi@cbre.com; Web site: www.cbre.com.
Columbus Commercial Realty is selling a 15,330 sq.ft. center located in Columbus, OH for $3.9 million with a Cap rate of 9%. The center is tenanted by Starbucks. The company also is selling a 16,916 sq.ft. center located in Columbus, OH for $3.925 with a Cap rate of $3.925 million. Area retail includes Kohl’s, Meijer and Home Depot. For more information, contact Kevin T. James, Columbus Commercial Realty, 300 East Broad Street, Suite 500, Columbus, OH 43215; 614-280-4817, Fax 614-233-5917; Web site: www.ccrcw.com.
Marcus & Millichap Real Estate Investment Brokerage Co. is selling the following shopping center investments: Toys “R” Us Shopping Center, a 72,000 sq.ft. center anchored by Toys “R” Us and Blockbuster Video in Fort Smith, AR for $5.9 million; Independence Promenade, a 90,281 sq.ft. unanchored center located on Independence Boulevard in Charlotte, NC for $12.5 million; Woodlawn Shopping Center, a 42,000 sq.ft. unanchored center located at the intersection of Interstate 77 and Woodlawn Boulevard in Charlotte, NC for $7 million and Covington Square Shopping Center, a 137,000 sq.ft. center located in Atlanta, GA for $14.5 million. For more information, contact Mac McCall, Marcus & Millichap Real Estate Investment Brokerage Co., 500 Northpark Town Center, 1100 Abernathy Road, N.E., Suite 600, Atlanta, GA 30328; 770-393-1700, Fax 770-393-1738; Email: wmccall@marcusmillichap.com.
Signature Associates-ONCOR International negotiated the sale of 9,648 sq.ft. of retail space located on South Merriman in Westland, MI. For more information, contact Justin Gaffrey, Signature Associates-ONCOR International, One Towne Square, Suite 1200, Southfield, MI 48076; 248-948-9000.
J.L. Nelms Real Estate is selling several Advance Auto buildings with leases of 15 years throughout the upper Midwest. All rents are capped at 7% and prices range from $1.2 million to $1.9 million. For more information, contact Jim Nelms, J.L. Nelms Real Estate, 5604 Wedgmont Circle North, Fort Worth, TX 76133; 817-370-6370, Fax 817-615-3504; Email: jnelms@airmail.net.
Turner & Associates Realty, Inc. is selling a 72,000 sq.ft. center located in Hazelhurst, GA. The center is anchored by Food Lion and is tenanted by CVS, Dollar General, BC Moore, Pizza Hut and Sun N Fun. For more information, contact Monte Turner, Turner & Associates Realty, Inc., 4301 Hillsboro Pike, Suite 210, Nashville, TN 37215; 615-383-7878, Fax 615-383-9878; Email: turnerandassociates@comcast.net.
Paramount Partners, LLC is representing a client looking to acquire retail centers of single-tenant net-leased properties for up to $14 million. The client is looking for sites primarily in the Northeast, but will consider locations nationwide. 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.
The Wilder Cos. acquired The Days Inn Orlando on Sand Lake Road in the Dr. Phillips area of Orlando, FL. Plans call for the hotel to be demolished and the land to be used to build The Rialto, a mixed-use development of specialty retail, luxury residences and office space. The 350,000 sq.ft. Rialto will consist of approximately 20 shops, fine dining restaurants and cafes, 200 deluxe condominiums and nearly 40,000 sq.ft. of office space. The center will be situated on a land area of 13 acres. For more information, contact The Wilder Cos., 300 Massachusetts Avenue, Boston, MA 02115; 617-247-9200, Fax 617-247-4044; Web site: www.wilderco.com.
MetWest Commercial Real Estate, LLC is representing a client looking for $200 million in properties throughout southeastern FL. The sites must be one property for $200 million, two separate properties for $100 million each or four properties for $50 million each. Preferred sites include retail centers, major warehouse sites, warehouse flex space complexes or office buildings. For more information, contact Mike McHugh, MetWest Commercial Real Estate, LLC, 126 Aragon Avenue, Coral Gables, FL 33134; 305-442-4740, Fax 305-442-4693; Email: mike@met-west.com; Web site: www.mwcre.com.
Colliers International is selling an 18,798 sq.ft. multi-tenant center located at the intersection of North Closner Boulevard and Schunior Road in Edinburg, TX for $1.95 million with a Cap rate of 8.2%. The center is currently 90% occupied. 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.
Baum Realty Group, Inc. arranged the sale of an 11,800 sq.ft., two-building retail center located in Boise, ID for $3.3 million. The seller was Baum Brothers, LLC. The buildings are 100% leased with the largest tenant being U.S. Bank, a subsidiary of U.S. Bancorp. Cotenants include Baja Fresh and T-Mobile. For more information, contact Baum Realty Group, Inc., 1030 West Chicago Avenue, Suite 300, Chicago, IL 60622; 312-666-3000, Fax 312-666-7970.
Express Auction is offering a retail strip center with office suites on West 127th Street in Alsip, IL. The site includes 12 retail units and six office units and is located less than 20 miles from downtown Chicago, IL. For more information, contact Express Auction, 4115 Wilkens Avenue, Second Floor, Baltimore, MD 21229; 888-748-3398; Web site: www.expressauction.com.
Hanley Brown Group Real Estate Advisors represented both buyer and seller in the sale of Tyler Plaza, a 15,300 sq.ft. center located at the intersection of Tyler Street and Wells Avenue in Riverside, CA for $2.295 million. The center is situated on a land area of 1.38 acres. For more information, contact Eric L. Werner, Hanley Brown Group Real Estate Advisors, 2569 McCabe Way, Suite 100, Irvine, CA 92614; 949-585-7678, Fax 949-585-7611; Email: info@hanleybrown.com.
Fameco Real Estate negotiated the sale of the Rio Grande Shopping Center located at the intersection of Route 9 and Route 47 in Rio Grande, NJ to Frank Theatres of Pleasantville, NJ. The center is anchored by Kmart. Area retail includes Lowe’s Home Improvement, Michael’s Arts and Crafts, GNC and Ross Dress For Less. A new Wal*Mart store is slated to open across the intersection of Route 9. For more information, contact Diane Weinberg, Fameco Real Estate, 15 East Ridge Pike, Suite 100, Conshohocken, PA 19428; 610-834-8000, Fax 610-834-1793.
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