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Buyers & Sellers
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Buyers & Sellers Net Leased Investment Co. is selling a freestanding 12,738 sq.ft. Eckerd drug store located on Hunter Street in Apex, NC for $5.33 million with a Cap rate of 6.5%. The building is situated on a land area of 1.98 acres and has a 20-year NN lease with four, five-year options. The company also is selling a 6,446 sq.ft. freestanding AutoZone store located on North County Road in Odessa, TX for $825,000 with a Cap rate of 7.27%. The building has a 20-year NN lease with four, five-year options and 10% increases in each option period. For more information, contact Bob Fraser, Net Leased Investment Co., 120 Alexandria Boulevard, Suite 18, Oviedo, FL 32765; 407-977-2448, Fax 407-977-0775; Email: bobfraser@netleased.com; Web site: www.netleased.com.
Stan Johnson Co. is marketing a portfolio of 49 Taco Bell/KFC properties ranging from $760,198 to $1.865 million throughout AR, MO, OK and TX. The average property size is 2,642 sq.ft., while the average land area is 0.88 acres. For more information, contact Michael Cropper, Stan Johnson Co., Two Warren Place, 6120 South Yale Avenue, Suite 813, Tulsa, OK 74136; 918-494-2690, Fax 918-494-2692; Email: mcropper@stanjohnsonco.com; Web site: www.stanjohnsonco.com.
REZA Cos. represented Hager Pacific Properties in the sale of Baldwin Hills Crenshaw Plaza, an 850,000 sq.ft. mall in Los Angeles, CA to Capri Capital Advisors for $136 million. The center is anchored by the first three-story Wal*Mart, a 15-screen Magic Johnson Theater, Robinsons-May, Sears and Albertsons. Cotenants include T.J. Maxx, Walden Books, Hollywood Video, Radio Shack, Footlocker, H&R Block, Payless Shoes, Lane Bryant, Lerner Stores, Forever 21, Bath & Body Works, Bakers Footwear, Footaction USA, McDonald’s, Taco Bell, Hot Dog On a Stick, Panda Express, Sizzler, Fatburger and Quiznos. The company also representing Passco Cos., LLC in the sale of Kauai Village, a center located on the island of Kauai, HI. The center is anchored by Safeway and Longs Drugs and is cotenanted by Starbucks, Jamba Juice, Wyland Galleries, Panda Express and Coldstone Creamery. For more information, contact Desiree Hernandez, REZA Investment Group, Inc., 3 Park Plaza, Suite 550, Irvine, CA 92614; 949-271-1169; Email: desiree@rezacompanies.com.
Holliday Fenoglio Fowler, L.P. is marketing Round Rock Town Centre, a 45,174 sq.ft. center located at the southeast quadrant of Gattis School Road and A.W. Grimes Boulevard in Round Rock, TX. The center is situated on a land area of 9.137 acres and is currently 67.58% occupied. Tenants include Randall’s, Wachovia Bank, Twin Liquor, Café Java, Image Sun Tanning and Curves. The site has an average daily traffic count of 61,830 vehicles. Area demographics include a population of 155,066 within five miles earning $82,245 as the average household income. For more information, contact Barry Brown, Holliday Fenoglio Fowler, L.P., 8401 North Central Expressway, Suite 400, Dallas, TX 75225; 214-265-0880, Fax 214-265-9564; Web site: www.hfflp.com.
Sperry Van Ness sold Samantha Marketplace, a 112,334 sq.ft. center located on Perris Boulevard in Moreno Valley, CA to TS Marketplace, LLC for $17 million. For more information, contact David Ebeling or Megan Monfort, Sperry Van Ness, 18881 Von Karman, Suite 800, Irvine, CA 92612; 949-225-1883/1894, Fax 949-251-9200; Emails: david.ebeling@svn.com and megan.monfort@svn.com; Web site: www.svn.com.
The McClure Co., Inc. is selling a 365,000 sq.ft. center located in New Castle, PA for $8.8 million. The center is anchored by Sears and Lowe’s Home Improvement and is tenanted by Wendy’s and Bob Evans. Area retail includes Wal*Mart Supercenter. The company also is selling Union Plaza, a 220,000 sq.ft. center located in New Castle, PA for $8.8 million. The center is anchored by Sears and Lowe’s Home Improvement. For more information, contact J. Richard McClure, The McClure Co., Inc., PO Box 114, St. Petersburg, FL 33731; 727-821-0170; Email: mccre@verizon.net.
GVA Advantis is selling Damalas Centre at Hilltop, a 27,118 sq.ft. center located at the intersection of Laskin Road and First Colonial in Virginia Beach, VA for $5 million. The center is situated on a land area of 1.187 acres. Space on the first floor has an asking price of $18 psf NNN, while space on the second floor has an asking price of $14 psf NNN. The site has an average daily traffic count of 30,000 vehicles. Area demographics include a population of 143,837 within five miles earning $48,497 as the average household income. For more information, contact J.C. Wynkoop, GVA Advantis, World Trade Center, 101 West Main Street, Suite 900, Norfolk, VA 23510-1687; 757-213-8289 or 757-627-0661; Email: jcwynkoop@advantisgva.com; Web site: www.advantisgva.com.
Marcus & Millichap Real Estate Investment Brokerage Co. sold a 1,620 sq.ft. TuneUp Masters store located on North Lamar Avenue in Austin, TX for $588,235 with a Cap rate of 8.5%. The site has an average daily traffic count of 33,900 vehicles. Area demographics include a population of 137,146 within three miles. The company also sold a 1,600 sq.ft. Jiffy Lube store located on North Sierra Highway in Rosamond, CA for $882,000 with a Cap rate of 6.8%. The company also sold a 1,500 sq.ft. Mobil Express Lube store located on Valley Drive East in Miles City, MT for $900,000 with a Cap rate of 8.89%. For more information, contact Kevin Boeve, Marcus & Millichap Real Estate Investment Brokerage Co., 3281 East Guasti Road, Suite 800, Ontario, CA 91761; 909-605-1800, Fax 909-605-1821; Email: jejones@marcusmillichap.com. For more information regarding the Mobil Express Lube store, contact Jennifer Jones.
Colliers International is selling a 9,600 sq.ft. Home Depot shadow-anchored center located at the intersection of Highway 6 and Richmond Avenue in Houston, TX for $2.81 million. The center is currently 100% leased and is tenanted by Radio Shack, Pearle Vision, Sally Beauty Supply and EZ Payday Loans. For more information, contact Patrick Graham, Colliers International, 1300 Post Oak Boulevard, Suite 200, Houston, TX 77056; 713-830-2169; Email: pgraham@collierstexas.com.
Equity One, Inc. acquired Piedmont Peachtree Crossing, a 152,239 sq.ft. center located on Piedmont Road in Atlanta, GA for $48 million. The center is situated on a land area of 10.9 acres and is located in Atlanta’s Buckhead section. The center is anchored by Kroger, is cotenanted by Cost Plus, Binders Art, Washington Mutual, Eye Gallery, Starbucks and Jamison Shaw Hairdressers and is 100% leased. For more information, contact Equity One, Inc., 1600 NE Miami Gardens Drive, North Miami Beach, FL 33179; 305-947-1664, Fax 305-947-1734; Web site: www.equityone.net.
Falcon Commercial Real Estate Services is selling a 1.53-acre site located on Route 301 in Waldorf, MD for $1.197 million. The site has been designed to accommodate an 18,000 sq.ft. retail/office project. Area retail includes Lowe’s Home Improvement, Wal*Mart, Sam’s Club and Home Depot. The site has an average daily traffic count of 58,000 sq.ft. For more information, contact Jeffrey A. Ross, Falcon Commercial Real Estate Services, 1783 Forest Drive, Suite 162, Annapolis, MD 21401; 410-263-4645, Fax 410-263-8082; Email: jross-falconres@comcast.net.
CB Richard Ellis, Inc. arranged the sale of Village Plaza at Boca Village, a center located on Yamato road in Boca Raton, FL for $16.25 million. The Dabby Family Trust acquired the property from Boca Village, LLC for $618 psf. The center recently opened and is tenanted by McDonald’s, Washington Mutual, Starbucks, Einstein’s Bagels, Cingular Wireless and Jamba Juice. For more information, contact David J. Donnellan or William R. Strauss, CB Richard Ellis, Inc., 5355 Town Center Road, Suite 701, Boca Raton, FL 33486; 561-393-1606/1615, Fax 561-393-1650; Emails: david.donnellan@cbre.com and william.strauss@cbre.com.
The Rotella Group, Inc. is selling a 14,500 sq.ft. building located on West Commercial Boulevard in Tamarac, FL for $2.35 million. 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.
Commercial Services Group is representing clients looking to acquire retail sites and lifestyle and neighborhood centers throughout SC. Second and third tier markets are suitable and the company can also acquire portfolios. Requirements include a 7.5% Cap rate and an 85% occupancy rate. For more information, contact Scott Hodges, Commercial Services Group, 902 Savannah Highway, Charleston, SC 29407; 843-769-5100, Fax 843-725-3765; Email: scott.hodges@agentowned.com.
Reif & Associates, Inc. is representing a client looking to acquire centers throughout the Midwest and the East Coast for between $5 million and $100 million with a Cap rate of 7.5%. The client prefers secondary markets and will consider newer centers. For more information, contact Marnie Robinson, Reif & Associates, Inc., PO Box 796157, Dallas, TX 75379; 469-633-1610, Fax 469-633-1615; Email: propertyxpert@comcast.net. |