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Buyers & Sellers
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Buyers & Sellers Roadside Development, LLC is selling a 50,000 sq.ft. site located in a center in Bel Air, MD. Tenants include Wal*Mart, Target, Lowe’s Home Improvement, Regal Cinema, BCS Bank and BJ’s Wholesale Club. The company also is selling an 85,000 sq.ft. site located in Bel Air, MD for $1.5 million. Area retail includes Walgreens, 7-Eleven, WaWa, Wal*Mart, Target and Lowe’s Home Improvement. For more information, contact William S. Saslaff, Roadside Development, LLC, PO Box 10479, Baltimore, MD 21209; 410-435-7000, Fax 410-435-7502.
Fameco Real Estate is selling the following sites: Mountain View Mall, a 215,893 sq.ft. center located in Ardmore, OK; Blue Grass Plaza, an 87,302 sq.ft. center located in Philadelphia, PA; Shippen Towne Centre, a 31,888 sq.ft. center located in Shippensburg, PA; The Shops at Foster Brook, a 32,000 sq.ft. center located in Bradford, PA; Westwood Mall, a 251,251 sq.ft. center located in Marquette, MI and Washington Town Centre, a 35,014 sq.ft. center located in Edinboro, 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.
CB Richard Ellis, Inc./The Dalton Team sold the following sites: a 193,590 sq.ft. Super Kmart located in Port Huron, MI and a 113,945 sq.ft. Wal*Mart located in Pearland, TX. For more information, contact Gregory M. Dalton, CB Richard Ellis, Inc., 1512 Eureka Road, Suite 100, Roseville, CA 95661-3040; 916-781-4816.
Upland Real Estate Group, Inc. sold a center located in Randall, IL. The center is currently 100% leased and is tenanted by T.J. Maxx, Pier 1 Imports, Famous Footwear, Petco Animal Supplies, Dress Barn, Fruitful Yield and Partyland. For more information, contact Melissa H. Deshler, Upland Real Estate Group, Inc., Marquette Plaza, 250 Marquette Avenue, Suite 575, Minneapolis, MN 55401; 612-332-6600, Fax 612-376-4489; Email: melissa@upland.com; Web site: www.upland.com.
Combined Properties, Inc. acquired 8.5 acres at the intersection of Antelope and Scott Roads in Murrieta, CA for $3 million. For more information, contact Linda Dreyer, Combined Properties, Inc., 1255 22nd Street, 6th Floor, Washington, DC 20037-1225; 202-293-4500, Fax 202-833-3013.
AEI Fund Management, Inc. is looking to acquire single-tenant net leased properties nationwide. For more information, contact George J. Rerat, AEI Fund Management, Inc., 1300 Wells Fargo Place, 30 Seventh Street East, St. Paul, MN 55101; 651-225-7723, Fax 651-227-7705; Email: grerat@aeifunds.com.
Murphy Commercial Realty, Inc. is selling a 1,446 sq.ft. building located on Gulf Boulevard in Pinellas County, FL. 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.
Metrovest Equities is selling a 262,000 sq.ft. center located in Cortland, NY. The center is anchored by Price Chopper, Kmart and Tractor Supply and is cotenanted by JCPenney, Radio Shack, Payless Shoes, Fashion Bug, Olympia Sports, Applebee’s and Tanning Bed. For more information, contact Russell Freeman, Metrovest Equities, 731 Lexington Avenue, New York, NY 10022; 212-500-4150, Fax 212-500-4151; Email: russell@metrovest.com.
Marcus & Millichap Real Estate Investment Brokerage Co. sold San Pedro Towne Center, Phase II, a 101,169 sq.ft. center located in San Antonio, TX. The site is located on San Pedro, just south of the North Star Mall. The center is tenanted by Dollar Tree and is situated on a land area of 7.4 acres. 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.
Richman Realty Associates is selling the following properties: an Eckerd in Augusta, GA for $4.5 million with a Cap rate of 7%; an Eckerd in Stone Mountain, GA for $2.83 million with a Cap rate of 7%; a Winn-Dixie Shopping Center in Orlando, FL for $6.1 million with a Cap rate of 8.7%; a Publix Shopping Center in the Orlando, FL area for $7.9 million with a Cap rate of 6.25%; and Walgreens located in CA, CO and WI for $7.5 million, $5.6 million and $4.8 million, respectively. 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.
Matheron Commercial is looking to acquire retail sites from $20 million to $100 million. The sites must have occupancy rates of 80%. The company also is offering a 1031 exchange opportunity in the southeastern U.S. for $2.643 million with a Cap rate of 7.4%. The site has a 15-year lease term with 15% increases every five years. For more information, contact Lynn Matheron, Matheron Commercial, PO Box 37292, Raleigh, NC 27627; 919-552-3709; Email: matheroncommercial@nc.rr.com.
Hanley Brown Group Real Estate Advisors represented both buyer and seller in the sale of an 11,800 sq.ft. inline space located adjacent to Albertsons at the Fullerton Marketplace in Fullerton, CA for $4.4 million. The center is located at the intersection of Orangethorpe Avenue and Euclid Street. Cotenants include Sally Beauty and Supercuts. The company also represented both buyer and seller in the sale of Five Points Plaza, an 8,340 sq.ft. center located at the intersection of La Sierra Avenue and Pierce Street in Riverside, CA for $1.2 million. The center is 100% occupied. For more information, contact Ed Hanley, Hanley Brown Group Real Estate Advisors, 2569 McCabe Way, Suite 100, Irvine, CA 92614; 949-585-7677, Fax 949-585-7610; Email: info@hanleybrown.com.
Richard Bowers & Co. is selling a 40-acre site adjacent to a Wal*Mart Supercenter located in the Atlanta, GA area for $9 million. For more information, contact Cynthia Sadler, Richard Bowers & Co., 260 Peachtree Street, Suite 2400, Atlanta, GA 30303; 404-816-1600 Ext. 109, Fax 404-880-0077; Email: csadler@richardbowers.com; Web site: www.richardbowers.com.
Staubach Retail is selling a CVS pharmacy located at the intersection of Second Avenue and 112th Street in Lansingburgh, NY for $4.42 million with a Cap rate of 6.25%. For more information, contact David T. Wojciechowski, Staubach Retail, 12 East 49th Street, 31st Floor, New York, NY 10017; 212-418-2600, Fax 212-418-2675; Email: dtwoj@staubach.com; Web site: www.staubachretailne.com.
Baum Realty Group sold a 1.5-acre property located at the intersection of Route 59 and 95th Street in Naperville, IL for $3.9 million. The building is currently occupied by Bank of America. For more information, contact Baum Realty Group, Inc., 1030 West Chicago Avenue, Suite 300, Chicago, IL 60622; 312-666-3000, Fax 312-666-7970; Web site: www.baumrealty.com.
ATV-1, LLC is selling a land area located on North Highway 317 in Temple, TX for $350,000. The property contains slightly more than three acres and is improved by a former convenience store building. For more information, contact Eddie Tuvin, ATV-1, LLC, Chelsea Tower, Suite 1511, 7401 Westlake Terrace, Bethesda, MD 20817; 301-767-5942, Fax 301-767-5923; Email: etuv@aol.com.
Interstate Realty and Development is representing investors looking to acquire centers throughout the southeastern U.S. for $2 million. The centers must have a GLA of at least 60,000 sq.ft. For more information, contact Adam Cross, Interstate Realty and Development, 2151 Volunteer Parkway, Bristol, TN 37620; 423-968-5971, Fax 423-764-9121; Email: adam@ira-realty.com.
Hendon Properties acquired Golden East Crossing, a 580,000 sq.ft. center located in Rocky Mount, NC. The center is anchored by Belk, JCPenney and Sears and is tenanted by The Children’s Place, American Eagle, Aeropostale, Bath & Body Works, Victoria’s Secret and Lady Foot Locker. For more information, contact Hendon Properties, 3445 Peachtree Road, Suite 465, Atlanta, GA 30326; 404-262-7400, Fax 404-262-2030.
Talcor Commercial Real Estate Services, Inc. is selling Northside Shopping Center, a 139,337 sq.ft. center located on North Main Street in Gainesville, FL for $6.5 million with a Cap rate of 7.5%. The center is situated on a land area of 13.71 acres and is anchored by Winn-Dixie, Ashley Furniture and Big Lots. The company also is selling a land area of 2.836 acres located on State Route 77 in Chipley, FL for $300,000. The site is located adjacent to a Wal*Mart Supercenter. The company also is selling Mariner Plaza, a 54,027 sq.ft. center located on North Highway 231 in Panama City, FL for $5.9 million with a Cap rate of 8.5%. The center is situated on a land area of 5.180 acres. For more information, contact E. Edward Murray Jr., Talcor Commercial Real Estate Services, Inc., Monticello Square, 1018 Thomasville Road, Suite 200A, Tallahassee, FL 32303; 850-224-2300, Fax 850-425-1114; Email: murray@talcor.com.
A private investor is selling a 45,968 sq.ft. The Sports Authority building located in Albuquerque, NM for $7.25 million with a Cap rate of 6.75%. For more information, contact Ron M. Pelleg, 1640 South Sepulveda Boulevard, Suite 308, Los Angeles, CA 90025; 310-477-5300 Ext. 104, Fax 310-479-1870; Email: ron@pelleg.com.
Woolbright Development, Inc. acquired the following centers in the Orlando and Tampa Bay/St. Petersburg, FL markets: Springs Plaza, a 62,500 sq.ft. center located at the intersection of State Road 434 and Wekiva Springs Road in Longwood, FL for $10 million. The company plans to remodel the center, which is located adjacent to an Albertsons supermarket, and is tenanted by Starbucks, Quizno’s, AmSouth Bank and Schakolad Chocolates; and East Lake Woodlands, a 139,246 sq.ft. center located at the intersection of East Lake Road and Tampa Road in Palm Harbor, FL for $16.2 million. In addition to the retail component, which is anchored by Publix, the center has 18,202 sq.ft. of office space in a three-story professional building. For more information, contact Gloria Kramer, Woolbright Development, Inc., 3200 North Military Trail, Fourth Floor, Boca Raton, FL 33431; 561-989-2265; Email: gkramer@woolbright.net.
Stanley & Associates is selling the following properties: an 8,000 sq.ft. Matthews Grocery store located on Route 33 South in Beaver, OH for $900,000; a Dan’s Furniture located on East North in Waverly, OH for $399,000; and a Shirley’s Food & Carryout located on State Route 33 South in Beaver, OH. For more information, contact Larry Stanley, Stanley & Associates, 125 Victory Drive, Waverly, OH 45690; 740-941-4422, Fax 740-941-4424.
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.
The Rotella Toroyan Clinton Group is looking to acquire multiple sites of approximately one acre in the Broward and Miami, FL market. The potential site must be zoned for automotive repair service and have major retail anchors in the area. For more information, contact Steven M. Miller, Rotella Toroyan Clinton Group, LLP, 3300 North Federal Highway, Suite 200, Fort Lauderdale, FL 33306; 954-568-9015, Fax 954-568-9597; Email: steve@rtcgrealestate.com.
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.
Madison Marquette acquired Mariner’s Village Shopping Center, a 133,000 sq.ft. center located at the intersection of Conway Road and Michigan Avenue in Orlando, FL for $13.385 million from Regency Centers. The center is currently 100% occupied and is tenanted by Winn-Dixie, Walgreens, Blockbuster Video, Wingshack and Firehouse Subs. Area demographics include a population of 119,153 within three miles. For more information, contact Jeff Ingram, Madison Marquette, 1850 M Street NW, 12th Floor, Washington, DC 20036; 202-775-0200, Fax 202-741-3801; Web site: www.madisonmarquette.com.
Antonoff & Co. Brokerage, Inc. is selling land areas of 3.05 acres and 4.84 acres at the intersection of Interstate 70 and Towers Road in Aurora, CO. The 4.84-acre site is selling for $945,263, while the 3.05-acre site is selling for $597,083. The site has an average daily traffic count of 45,463 vehicles. Area demographics include a population of 148,867 within five miles earning $55,760 as the average household income. For more information, contact Steve Sebern or Gene Stone, Antonoff & Co. Brokerage, Inc., 1528 Wazee Street, Denver, CO 80202; 303-623-0200, Fax 303-454-5400; Emails: ssebern@antonoff.com and gstone@antonoff.com.
Mid-America Real Estate Investment Sales Group represented VEF Advisors in the sale of South Loop Marketplace, a 102,266 sq.ft. center located at the intersection of Roosevelt Road and Canal Street in Chicago, IL. The buyer was American Realty Advisors and Tucker Development. The center is anchored by Dominick’s Finer Foods and a 30,893 sq.ft. multi-tenant building housing 14 specialty, dining and service retailers, including Washington Mutual, Movie Gallery, FedEx Kinko’s, GameStop, GNC, Sears Optical, Subway, U.S. Cellular and Domino’s Pizza. The company also sold The Centre at Lake in the Hills, a 99,451 sq.ft. center located at the intersection of Randall Road and Algonquin Road in Lake in the Hills, IL. The center is situated on a land area of 14.57 acres and is anchored by Dominick’s Finer Foods. Cotenants include Hollywood Video, GNC, Wolf Camera, Einstein Bros. Bagels, Caribou Coffee and H&R Block. For more information, contact Mid-America Real Estate Investment Sales Group, Two Mid-America Plaza, Third Floor, Oakbrook Terrace, IL 60181-4713; 630-954-7300, Fax 630-954-7304/7306; Web site: www.midamericagrp.com.
Capital Pacific is selling the following properties: a freestanding Hollywood Video store located in Hanford, CA for $2.4 million with a Cap rate of 7%; a 4,532 sq.ft. Starbucks located at the intersection of Cedar Ridge Drive and West Center Drive in Duncanville, TX; an Eckerd store located in Franklin, PA for $1.75 million with a Cap rate of 7.70%; a Sav-On and adjacent retail in Grand Terrace, CA for $4.075 million with a Cap rate of 5.6%; and a 2,940 sq.ft. 7-Eleven store located in Carrollton, TX for $1.685 million with a Cap rate of 6%. For more information, contact Chris Kostanecki or Zeb Ripple, Capital Pacific, Four Embarcadero Center, Twenty Fifth Floor, Suite 2570, San Francisco, CA 94111; 415-274-2700, Fax 415-274-2710; Email: infosanfrancisco@capitalpacific.com.
Phase One Realty, Inc. is selling a 47,311 sq.ft. site located in Louisville, KY for $4.95 million with a Cap rate of 7.25%. The building is situated on a land area of 5.3 acres and has 19 years remaining on the base lease term. For more information, contact Robert H. Fippinger, Phase One Realty, Inc., PO Box 22865, Santa Fe, NM 87502 or 2011 Botulph Road, Santa Fe, NM 87505; 505-986-2942, Fax 505-988-5134; Email: rhf@phaseonerealty.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 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.
Goodman Real Estate Services Group, LLC represented RAI Restaurants and Cleveland Deli Co. in the sale of a Schlotszky’s site located on Tiedeman Road in Brooklyn, OH. The buyer, RAI, leased the property to Chipotle Mexican Grill. The company also represented Willo Pizza Beverage Shop in the sale of a site located on Euclid Avenue in Willoughby, OH to Barb & Patty’s Properties, Inc. The company also brokered the sale of an existing BJ’s Wholesale Club and a BJ’s gas station property on Home Avenue in Akron, OH. For more information, contact Anne Santora, Goodman Real Estate Services Group, LLC, 25333 Cedar Road, Suite 305, Lyndhurst, OH 44124; 216-381-8200, Fax 216-381-8211.
Sperry Van Ness completed the sale of an 11,453 sq.ft. Hometown Buffet restaurant located at the Interstate 240 Service Road in Oklahoma City, OK for $2.15 million. The building is situated on a land area of 2.02 acres. Area retail includes Krispy Kreme, Red Lobster, Steak & Ale, Holiday Inn and Sleep Inn. For more information, contact David Ebeling, Sperry Van Ness, 18881 Von Karman, Suite 800, Irvine, CA 92612; 949-225-1883, Fax 949-225-1894; Emails: david.ebeling@svn.com and megan.monfort@svn.com; Web site: www.svn.com.
Casto sold Northern Lights Shopping Center, a 380,000 sq.ft. center located in Columbus, OH to DLC Management. The company also sold the following five centers located throughout the Pittsburgh, PA area: Great Southern, a 364,195 sq.ft. center anchored by T.J. Maxx and OfficeMax in Bridgeville; Miracle Mile, a 320,029 sq.ft. center anchored by Marshalls, DSW and Old Navy in Monroeville; Northern Lights, a 609,405 sq.ft. center anchored by Giant Eagle in Baden; Raceway Plaza, a center anchored by Wal*Mart in Bridgeville and Southland/Four Seasons, a 367,395 sq.ft. center anchored by OfficeMax and Tuesday Morning in Pleasant Hills. For more information, contact Casto, 191 West Nationwide Boulevard, Suite 200, Columbus, OH 43215; 614-228-5331, Fax 614-469-8376; Web site: www.castoinfo.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.
Inland Western Retail Real Estate Trust, Inc. acquired the 628,626 sq.ft. retail portion of Phase 1 of The Gateway Shopping Center located in Salt Lake City, UT. Many of the center’s 95 stores and restaurants are located in the 650,000 sq.ft., open-air mixed-use space. Tenants include Dick’s Sporting Goods, Barnes & Noble, Virgin Megastore, Abercrombie & Fitch, Hollister, Z Gallerie, Banana Republic, J. Jill, California Pizza Kitchen, Anthropologie, Sur La Table, Coldwater Creek, Megaplex 12 and Clark Planetarium. 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.
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 and has an average daily traffic count of 45,700 vehicles. 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.
Millennium Properties, Inc. sold a 41,365 sq.ft. former Eagle Foods store located on West Jefferson Street in Joliet, IL for $2.065 million. The property is situated on a land area of 3.2 acres and was sold to Omkar Real Estate, LLC on behalf of ARCap Servicing, Inc. For more information, contact Millennium Properties, Inc., 2 First National Plaza, 20 South Clark, Suite 630, Chicago, IL 60606; 312-338-3000, Fax 312-338-3008; Web site: www.mpirealestate.com.
Ashkenazy Acquisition Corp. acquired the following three retail properties: Douglaston Plaza Shopping Center in the Flushing section of Queens, NY; Washington Bridge Shopping Center in Fort Lee, NJ and a retail strip center in Brooklyn, NY. Douglaston Plaza Shopping Center has a GLA of 300,000 sq.ft. and is located on 61st Avenue. The company acquired the property from Yale University. Tenants include Macy’s, Toys “R” Us, Modell’s, Waldbaum’s and other local retailers. Washington Bridge Shopping Center is located on Lemoine Avenue, between Lincoln Avenue and Cross Street and includes 50,000 sq.ft. of retail and office space on the second floor. It is near a number of major highways that lead to the George Wahington Bridge in Manhattan. The strip center in Brooklyn has a GLA of 10,000 sq.ft. and is located on Church Avenue. For more information, contact Ashkenazy Acquisition Corp., 455 Fifth Avenue, Second Floor, New York, NY 10016; 212-213-4444, Fax 212-213-5713; Web site: www.aacrealty.com.
Capital Realty Advisors, Inc. is selling Spring Park Plaza, a center located in Denham Springs, LA. The 136,000 sq.ft. center is 97% occupied and has a Cap rate of 9.58%. The center is anchored by an antique market and auction house. Credit tenants include Rite Aid, RadioShack, Wells Fargo and Fantastic Sam’s. 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; Web site: www.capitalrealtyadvisors.com. |