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Buyers & Sellers
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Buyers & Sellers Sperry Van Ness sold Jiffy Lube locations in Olathe, KS and Kansas City, MO for $1.46 million and $1.577 million, respectively. For more information, contact Michael B. Roberts, Sperry Van Ness, 6342 Beverly Drive, Mission, KS 66202; 877-707-1031; Web site: www.svn.com.
Net Leased Investment Co. is selling three Meineke Car Care Center locations in Elkton, MD for $1.26 million with a Cap rate of 7.5%. 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; Web site: www.netleased.com.
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.
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.
Marcus & Millichap Real Estate Investment Brokerage Co. is marketing Los Gatos Village Square, a 45,738 sq.ft. mixed-use center located on Los Gatos Boulevard in Los Gatos, CA for $19.1 million. The site has an average daily traffic count of 44,000 vehicles. The center is anchored by Trader Joe’s, Carl’s Jr., H&R Block and Pet Food Express. Area retail includes Nob Hill Foods, Lunardi’s Market, Whole Foods Market, Rite Aid and Longs. Area demographics include a population of 106,597 within three miles earning $160,000 as the average household income. For more information, contact Marcus & Millichap Real Estate Investment Brokerage Co., 2999 Oak Road, Suite 210, Walnut Creek, CA 94597; 925-953-1700, Fax 925-953-1710; Web site: www.marcusmillichap.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.
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.
Murphy Commercial Realty, Inc. is selling a 1,446 sq.ft. building located in Pinellas County, FL for $1 million. The site has an average daily traffic count of 25,000 vehicles. For more information, contact Patti Laubaugh, Murphy Commercial Realty, Inc., 513 North Belcher Road, Suite A, Clearwater, FL 33765; 727-725-7090, Fax 727-725-8090.
NAI Mathews Partners is selling a 20,875 sq.ft. center located in Manchester, TN for $3.6 million with a Cap rate of 8%. The center is shadow-anchored by a Wal*Mart Supercenter. For more information, contact Cheri Thomas, NAI Mathews Partners, 300 Broadway, Nashville, TN 37201; 615-850-2705, Fax 615-244-2957; Web site: www.mathewspartners.net.
Commercial First is selling a single-tenant restaurant site located in NC for $515,000 with a Cap rate of 9.34%. The site has a 10-year lease with two, five-year options. For more information, contact Jeffrey K. Mullis, Commercial First, PO Box 9265, Hickory, NC 28603; 828-322-8022 Ext. 103, Fax 206-203-1556; Email: jeff@commercialfirst.net.
Syndicated Equities Corp. sold a Walgreens store located in Elgin, IL for $6.5 million. The company also brokered the sale for a 14,500 sq.ft. Walgreens store located in Marion, IN for $3.8 million. The company also sold a Washington Mutual Bank located in Palm Beach, FL for $2.9 million. For more information, contact Ari Vinkour, Syndicated Equities Corp., 1345 North Wells Street, Chicago, IL 60610; 312-640-9020.
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.
MetWest Commercial Real Estate, LLC is representing a client looking for $200 million in properties throughout southeastern FL. The sites must be either 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.
Featherstone Realty, Inc. is selling a single-tenant, NNN lease location in central FL for $8.415 million. The site includes two buildings consisting of approximately 67,500 sq.ft. on a land area of 5.13 acres. For more information, contact George E. Featherstone, Featherstone Realty, Inc., 4655 West Flagler Street, Miami, FL 33134; 305-442-2017, Fax 305-386-9229; Email: siteselector@juno.com.
Upland Real Estate Group, Inc. sold a 7-Eleven convenience store located in Aston, PA for $1.2 million. For more information, contact Dana Dietz, Upland Real Estate Group, Inc., 250 Marquette Avenue, Suite 575, Minneapolis, MN 55401-1872; 612-332-6600, Fax 612-376-4489; Email: dana@upland.com; Web site: www.upland.com.
CB Richard Ellis, Inc. negotiated the sale of a 31-property automotive store portfolio across eight states for $36 million. The 214,000 sq.ft. portfolio includes Checker, Schuck’s, Kragen and O’Reilly auto parts stores ranging in size from 6,000 sq.ft. to 8,000 sq.ft. in AZ, CA, CO, ID, NM, TX, UT and WY. For more information, contact Katherine Haug, CB Richard Ellis, Inc., 2415 East Camelback Road, Phoenix, AZ 85016-4290; 602-735-5555, Fax 602-735-5655; Email: katherine.haug@cbre.com; Web site: www.cbre.com/phoenix.
MLK Development, LLC is selling a land area of six acres on South Hollywood in Houma, LA for $8 psf. For more information, contact Henry J. Richard, MLK Development, LLC, PO Drawer 4035, Houma, LA 70361; 985-856-5703, Fax 985-872-9160.
Courtelis Co. is looking to acquire land for master development, retail development and redevelopment opportunities, as well as joint ventures. For more information, contact Bruce M. Pasternack, Courtelis Co., 703 Waterford Way, Suite 800, Miami, FL 33126; 305-261-4330, Fax 305-261-4338; Email: bpasternack@courtelis.com; Web site: www.courtelis.com.
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