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Buyers & Sellers
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Buyers & Sellers The Rotella Group, Inc. is selling Blockbuster Shopping Center, a 12,450 sq.ft. center located on East Silver Springs Boulevard in Ocala, FL for $2,487,500 with a Cap rate of 6.75%. The company also is selling Quince Station Shopping Center, a 101,271 sq.ft. center located on Quince Road in Memphis, TN for $5.8 million with a Cap rate of 9.03%. The center is currently 97% occupied and is situated on a land area of 8.49 acres. For more information, contact Steve Miller, The Rotella Group, Inc., 3300 North Federal Highway, Suite 200, Fort Lauderdale, FL 33306; 954-568-9015, Fax 954-568-9597; Email: steve@rotellagroup.com ; Web site: www.rotellagroup.com.
Rockwood Realty Associates is marketing the following three former Kmart locations: an 86,400 sq.ft. store situated on a land area of 8.65 acres in Independence, KS for $950,000; a 103,000 sq.ft. Vicksburg, MS store situated on a land area of 11.59 acres in San Angelo, TX; and a 93,000 sq.ft. store situated on a land area of 7.5 acres in Vicksburg, MS. For more information, contact Drew McElligott, Rockwood Realty Associates, 303 West Madison Street, Suite 1110, Chicago, IL 60606; 646-871-6022, Fax 312-252-5555; Email: dmcelligott@rockwoodrealty.com ; Web site: www.rockwoodexchange.com.
Coldwell Banker George Realty is selling a land area of 4.59 acres located on South State Street in San Jacinto, CA for $1.35 million. For more information, contact Stanley Fu, Coldwell Banker George Realty, 660 West Huntington Drive, Arcadia, CA 91007; 626-202-6602, Fax 626-462-5662.
Centurion Partners, LLC sold Northlite Commons II, a 22,901 sq.ft. center located in Kannapolis, NC for $5.775 million. The center is located adjacent to a Wal*Mart Supercenter and contains 4,000 sq.ft. of available space. Cotenants include Alltel, Duke Energy, Wells Fargo, Casa Grande Mexican Restaurant, ABC Store Boutiques, Hear Direct, 1st Class Shipping, Dragon Wok and Sold on Ebay. For more information, contact Maura Reddington, Centurion Partners, LLC, 16930 West Catawba Avenue, Suite 205, Cornelius, NC 28031; 704-895-2512 Ext. 1; Email: mreddington@centurionpartners.net.
NAI James E. Hanson is looking to acquire centers throughout FL and NJ for between $4 million and $20 million. For more information, contact Marta E. Sala, NAI James E. Hanson, 235 Moore Street, Hackensack, NJ 07601; 201-488-5800 Ext. 103; Email: msala@naihanson.com.
Phillips Edison & Co. is looking to acquire strip centers with a GLA of 60,000 sq.ft. and up nationwide for $5 million and up. The centers must have an occupancy rate of 85% or less. For more information, contact John Bessey, Phillips Edison & Co., 11690 Grooms Road, Cincinnati, OH 45140; 513-554-1110, Fax 513-554-1009.
Hogan Real Estate is selling Walgreens stores located in Floyd Knobs, IN and Shelbyville, KY. The stores have Cap rates of 6%, are absolute net investments and have 25-year lease terms with 10, five-year options. For more information, contact Justin Phelps, Hogan Real Estate, 420 West Liberty Street, Louisville, KY 40202; 502-426-1050; Email: jphelps@hogandev.com.
Arroyo & Coates, Inc. is selling a 41,981 sq.ft. Smiths Food & Drug store located just off Interstate 80 in Rock Springs, WY for $4.2 million with a Cap rate of 9%. The building is situated on a land area of 5.31 acres and has an absolute NNN lease with five years remaining. For more information, contact Paul Souza, Arroyo & Coates, Inc., 500 Washington Street, Suite 700, San Francisco, CA 94111; 415-445-7800 Ext. 184, Fax 415-723-7700; Email: psouza@a-c.com.
Staubach Investment Sales represented Centennial Trinity Oaks Partners LP in the sale of Trinity Oaks Shopping Center, a 28,164 sq.ft., one-story center located at the intersection of Trinity Mills Road and Midway Road in Carrollton, TX. The center is situated on a land area of 2.37 acres and is currently 100% occupied. For more information, contact Staubach Investment Sales, 15601 Dallas Parkway, Suite 400, Addison, TX 75001; 972-361-5422.
Capital B Realty, LLC is selling Crockett Eastgate Center, a 65,000 sq.ft. center located on Loop 304 East in Crockett, TX for $2 million with a Cap rate of 4%. The center is currently 61% occupied. For more information, contact Nicholas Baskin, Capital B Realty, LLC, 656 East Lake Drive/2815 U.S. Highway 59 South, Livingston, TX 77351; 936-327-4345, Fax 936-327-4321.
Mortgage 20/20 is looking to acquire land areas of two acres to 10 acres in Houston, TX and its metropolitan vicinity for the development of mixed-use space and a shopping center. For more information, contact Mortgage 20/20, 10654 Westheimer Road, Houston, TX 77042; 832-242-5055, Fax 832-242-1159; Email: mortgage2020@sbcglobal.net .
Fameco Real Estate negotiated the sale of The Crossroads Mall of the Poconos, a 245,356 sq.ft. regional center located at the intersection of Route 611 and Interstate 80 in Stroudsburg, PA. The center will be anchored by Lowe’s Home Improvement, Kohl’s, Red Robin, Pennstark Bank and Longhorn Steakhouse. One pad site is still available for ground lease. 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.
Coldwell Banker Commercial Amato & Associates is representing a client looking to acquire shopping centers nationwide from $2 million to $50 million. The client prefers sites in FL or surrounding states or DE and surrounding states, but will look at any location. Preferred Cap rates are 7% or higher. For more information, contact Jason T. Peronti, Coldwell Banker Commercial Amato & Associates, 110 Christiana Medical Center, Newark, DE 19702-1600; 302-224-7716; Email: jperonti@amatoassociates.com.
Wellington Capital Group, Inc. is selling a center located in Anderson, SC for $32.62 million. The center has a Cap rate of 6.86%. For more information, contact Bill Perez, Wellington Capital Group, Inc., 12797 Pineacre Court, Suite 200, Wellington, FL 33414; 561-784-7955.
Millennium Properties Real Estate, Inc. is looking to acquire outlots or endcaps in high-density, high-traffic locations in Downers Grove, Naperville, Tinley Park, Homewood, Barrington, Niles, Des Plaines, Lombard, Bloomingdale, Island Lake, Waukegan and Chicago, IL. For more information, contact Ben Rosenfield, Millennium Properties Real Estate, Inc., 20 South Clark Street, Suite 630, Chicago, IL 60603; 312-338-3000, Fax 312-338-3008; Email: brosenfeld@mpirealestate.com.
Gulf Coast Commercial Group, Inc. sold Copperwood Village Shopping Center, a 350,444 sq.ft. center located at the intersection of Highway 6 and FM 529 in Houston, TX. The center is 97% leased and is anchored by Marshalls, Bed Bath & Beyond, OfficeMax, Petco and Pier 1 Imports. For more information, contact Gulf Coast Commercial Group, Inc., 3120 Rogerdale, Suite 150, Houston, TX 77042; 713-532-0977, Fax 713-532-1969. |