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Buyers & Sellers
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Buyers & Sellers A private investor is looking to acquire shopping centers, malls and office buildings anywhere in the U.S. The sites must have a GLA of at least 150,000 sq.ft. For more information, contact Robert Stuart, 13064 Bender Drive , Moreno Valley, CA 92553; 951-247-2426; Email: rubobstu@verizon.net.
Nassimi Realty Corp. completed the acquisition of Northmont Plaza, a 132,286 sq.ft. center located on Taywood Road in Englewood, OH. The center is anchored by Aldi and Big Lots and is currently 98% occupied. Cotenants include Bank One, Family Dollar, Radio Shack, Sherwin-Williams, Fashion Bug and Subway. For more information, contact Nassimi Realty, Inc., Seven Penn Plaza, 270 Seventh Avenue, Suite 1700, New York, NY 10001; 610-687-0807.
The Merrill Cos., LLC acquired a 27-acre parcel located at the intersection of Bangerter Highway and South Street in Riverton, UT for the development of Riverton Meadows Center. The proposed 196,700 sq.ft. center is expected to be anchored by Lowe’s Home Improvement Warehouse. For more information, contact Carol Dvorak, The Merrill Cos., 5850 Canoga Avenue, Suite 650, Woodland Hills, CA 91367; 702-889-8800 or 818-887-9797, Fax 818-456-5755.
Faris Lee Investments arranged the acquisition of 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.
CB Richard Ellis, Inc. is selling State & La Cumbre Center located in Santa Barbara, CA for $8.75 million. The company also is selling a land area of 18.84 acres at the intersection of Valencia and Nexus Roads in Tucson, AZ for $7 psf. For more information, contact Scott A. Heaton or Neil Mishurda, CB Richard Ellis, Inc., 500 Citadel Drive, Suite 301, Commerce, CA 90040; 323-838-3130 or 323-838-3121; Emails: scott.heaton@cbre.com and neil.mishurda@cbre.com. For more information regarding the Tucson site, contact Nancy McClure, CB Richard Ellis, 3385 North Campbell Avenue, Tucson, AZ 85719; 520-323-5100, Fax 520-323-5156.
Weingarten Realty Investors acquired five centers with a combined GLA of 307,800 sq.ft. for $53.5 million. The company also sold five centers for $71.1 million. The acquisitions include Lake Washington Crossing, a 118,800 sq.ft. center located at the intersection of Wickham Road and Lake Washington Road in Melbourne, FL; Marshall Plaza, a 78,800 sq.ft. center located at the intersection of McHenry and Sylvan Avenue in Modesto, CA. The company also acquired a package of three properties in NC, including Bull City Market, a 42,500 sq.ft. center located at the intersection of Broad Street and West Main Street in Durham; Steele Creek Crossing, a 77,300 sq.ft. center located on York Road in Charlotte and Johnston Road Plaza, a 79,500 sq.ft. center located at the intersection of Johnston Road and McMullen Creek Parkway in Charlotte. The company also sold the following centers throughout TX: Bingle Shopping Center, Cypress Village Shopping Center and Williams Trace Shopping Center in the Houston area and McDermott Commons Shopping Center and Murphy Crossing in the Dallas market. For more information, contact Brook Wootton, Weingarten Realty Investors, PO Box 924133, Houston, TX 77292-4133; 713-866-6000, Fax 713-866-6049; Web site: www.weingarten.com.
Pace Properties, Inc. represented Kimco Realty in the sale of a 130,000 sq.ft. center located in Hazelwood, MO. The site was acquired by HV Real Estate and Jeffco Properties. For more information, contact Pace Properties, Inc., 1401 South Brentwood Boulevard, Suite 100, St. Louis, MO 63144; 314-968-9898, Fax 314-968-5050; Web site: www.paceproperties.com.
Property Sales & Acquisitions, Inc. is looking to acquire properties from between $3 million and $6 million. For more information, contact Tamera Derish, Property Sales & Acquisitions, Inc., 4811 South High School Road, Indianapolis, IN 46221; 317-821-8419, Fax 317-821-8593; Web site: www.propertiesbanked.com.
Sperry Van Ness completed the sale of a 7,619 sq.ft. center located on South Myrtle Avenue in Monrovia, CA for $3.7 million to a private investor. The center is situated on a land area of 0.7 acres and is 100% leased to Coffee Bean & Tea Leaf, Quizno’s, Teri & Yaki and Urbane Beauty. For more information, contact David Ebeling, Sperry Van Ness, 18881 Von Karman Avenue, Suite 800, Irvine, CA 92612; 949-225-1894, Fax 949-553-1697; Emails: david.ebeling@svn.com and megan.monfort@svn.com.
Realty Investments, LLC is representing a client looking to acquire ground leases nationwide from $10 million to $100 million with Cap rates of 6%. The client prefers to acquire credit retail and large movie theaters, but will consider other sectors. For more information, contact Edward J. Ostensoe, Realty Investments, LLC, 6800 Fleetwood Road, Suite 1112, McLean, VA 22101; Email: edwardostenoe@yahoo.com and nnninvestments@yahoo.com. Or contact the company’s western offices at 1885 Desert Forest Way, Henderson, NV 89012.
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.
Shane Investment Property Group is selling Mableton Auto Center, a three-tenant NNN automotive strip center located on Veterans Memorial Highway in Mableton, GA for $735,000 with a Cap rate of 9.05%. Area demographics include a population of 50,148 within three miles earning $59,252 as the average household income. For more information, contact Jeff Enck, Shane Investment Property Group, 2325 Lake View Parkway, Suite 200, Alpharetta, GA 30004; 770-481-1960, Fax 770-481-1961; Email: jenck@shanegroup.net.
Marcus & Milllichap Real Estate Investment Brokerage Co. sold a Sheetz convenience store located on Butler Pike in Grove City, PA for $2.1 million. The company also sold Centennial Plaza, a 12,000 sq.ft. center located on West Street Road in Warminster, PA for $1.55 million. For more information, contact Marcus & Milllichap Real Estate Investment Brokerage Co., 1628 JFK Boulevard, Suite 1200, Philadelphia, PA 19103; 215-557-0900, Fax 215-557-0966; Web site: www.marcusmillichap.com. |