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Buyers & Sellers
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Buyers & Sellers Retail Realty Group, Inc. is selling a 61,226 sq.ft. big box commercial/retail/office building located on Kennedy Boulevard in Tampa, FL for $10.7 million. The company also is selling a 52,000 sq.ft. commercial/retail building located at the southwest corner of Fowler Avenue and 15th Street in Tampa, FL for $6.5 million. For more information, contact Suzanne Chen, Retail Realty Group, Inc., 813-960-8244, Fax 813-264-2775; Email: retailrealty@aol.com .
Fameco Real Estate represented the buyer in the acquisition of Penn Plaza, a 177,000 sq.ft. center located on Fifth Street Highway in Reading, PA. Anchors include Kmart, JoAnn Fabrics and Dollar Tree. The seller was Pasbjerg Development Co. The company also negotiated the sale of Kmart Plaza, a 100,000 sq.ft. center located at the intersection of Route 272 and Rothsville Road in Ephrata, PA. The company represented both buyer and seller. Anchors include Kmart and Fulton Bank. For more information, contact Diane Weinberg, Fameco Real Estate, 633 West Germantown Pike, Suite 200, Plymouth Meeting, PA 19462; 610-834-8000, Fax 610-834-1793.
The Azarian Group, LLC acquired Town Plaza II Shopping Center located on Route 303 in Orangeburg, NY. For more information, contact John M. Azarian, The Azarian Group, LLC, The Azarian Building, 6 Prospect Street, Suite 1B, Midland Park, NJ 07432; 201-444-7111, Fax 201-444-6655; Email: jazarian@azariangroup.com ; Web site: www.azariangroup.com .
Coldwell Banker Commercial Mountain West Real Estate, LLC is selling a land area of 1.08 acres on Hagers Grove Road in Salem, OR for $850,000. The center is anchored by Kelly’s, Ashley’s Home Center and Home Depot. The company also is selling a land area of approximately two acres on Geary Street in Albany, OR for $925,000. Area retail includes Target, Gottschalks, Old Navy and Sears. The company also is selling a 1,467 sq.ft. building located on Pacific Boulevard in Salem, OR for $750,000. For more information, contact Alex Rhoten, Tiffany Jones or Staci Herndon, Coldwell Banker Commercial Mountain West Real Estate, LLC, 250 Division Street, Salem, OR 97301; 503-587-4777, Fax 503-588-3514.
Dillon Realty Enterprises, Ltd. is looking to acquire strip, neighborhood, community or lifestyle centers from 25,000 sq.ft. up to 100,000 sq.ft. throughout the coastal communities of FL for between $7.5 million to $25 million with a minimum Cap rate of 6.75%. The sites must have a minimum occupancy of 90%. For more information, contact Neil Dillon, Dillon Realty Enterprises, Ltd., 5777 West Century Boulevard, Suite 1660, Los Angeles, CA 90045; 310-641-5711 Ext. 14, Fax 310-641-5751; Email: neildillon@aol.com .
Colliers International is selling a Home Depot shadow-anchored center located at the intersection of Highway 6 and Richmond in Houston, TX for $2.81 million. The center is currently 100% leased and has a net operating income of $207,722. Tenants include 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 .
DMB Capital & Real Estate Advisory, LLC is looking to acquire 1031 properties for between $75 million and $100 million throughout New York, NY, the tri-state area, Westchester County, NY and CT. For more information, contact Dennis M. Behunick, DMB Capital & Real Estate Advisory, LLC, 99 Danbury Road, Ridgefield, CT 06877; 203-438-8645, Fax 203-438-5299; Email: dmbcapital@aol.com .
U.S. Land Investments, LLC is selling a land area of 14.17 acres in western NE. The site is excess land from a Wal*Mart Supercenter and the company will subdivide the site into one-acre lots. The site has an average daily traffic count of 16,000 vehicles. Area retail includes Cabela’s, Arby’s, McDonald’s, Pizza Hut, Motel 6, Holiday Inn Express and American. For more information, contact Tobin B. Knight, U.S. Land Investments, LLC, 1430 South Michigan Avenue, PH 2, Chicago, IL 60605; 312-235-2834, Fax 312-276-8429; Email: tknight@uslandllc.com ; Web site: www.uslandllc.com .
Richard Bowers & Co. is selling an 83,000 sq.ft. center located on two major intrastate highways and directly off Interstate 75 in Macon, GA for $5.9 million with a Cap rate of 8.75%. The center has a net operating income of $516,000. The center is currently 100% leased with credit tenants and has site plans for a 20,000 sq.ft. outparcel. Area retail includes Walgreens, McDonald’s, Wendy’s and Pennington’s. For more information, contact Cynthia Sadler, Richard Bowers & Co., 260 Peachtree Street, Suite 2400, Atlanta, GA 30303; 404-816-1600, Fax 404-880-0077; Web site: www.richardbowers.com .
Stan Johnson Co. is selling a 122,472 sq.ft. Garden Ridge store located at Landmark Center at the intersection of Interstate 40 and West Wendover Avenue in Greensboro, NC for $9.1 million. The site has an average daily traffic count of 85,000 vehicles. Area demographics include a population of 124,508 within five miles earning $69,401 as the average household income. Area retail includes Home Depot, Lowe’s Home Improvement, Target, Wal*Mart, Sam’s Club, Best Buy, Kmart, Babies “R” Us, Kohl’s and Circuit City. For more information, contact Jeff Matulis, Stan Johnson Co., 6120 South Yale Avenue, Suite 813, Tulsa, OK 74136; 918-494-2690, Fax 918-494-9708; Email: jmatulis@stanjohnsonco.com ; Web site: www.stanjohnsonco.com .
NewBridge Retail Advisors recently served as advisor in the sale of approximately a half acre of land located in the Brickell area of Miami, FL. The sales price and Cap rate were not disclosed. The site was previously occupied by a six-story office building. The company also served as advisor in the sale of Gainesville Towne Center, a 142,468 sq.ft. center located along Browns Bridge Road in Gainesville, GA. NewBridge represented Kimco Realty Corp. The buyer was a U.S. subsidiary of Sterling CentreCorp., Inc. The center is anchored by Big Lots and Office Depot. Area retail includes Colonial Lakeshore Mall, Wal*Mart Supercenter, Lowe’s Home Improvement, Target, Home Depot, Publix, Kohl’s and other national big box retailers. For more information, contact Gary Saykaly, NewBridge Retail Advisors, Royal Centre One, 11675 Great Oaks Way, Suite 135, Alpharetta, GA 30022; 678-802-6500, Fax 678-802-6588.
Axis Realty Partners is representing a client looking to acquire 50,000 sq.ft. shopping centers throughout the Mid-Atlantic states that have upside potential. For more information, contact John O’Dea, Jr., Axis Realty Partners, 24 Louella Court, Suite 240, Wayne, PA 19087; 610-687-4600 Ext. 301, Fax 610-687-0404; Email: jodea@axisrealtypartners.com .
NAI BT Commercial is selling Eagle River Retail Center, a center located in Boise, ID for $5.264 million. The site has an average daily traffic count of 50,000 vehicles. Trade-area demographics include a population earning $90,000 as the average household income. For more information, contact Michael Maffia, NAI BT Commercial, 415-677-0478, Fax 415-956-3381; Email: pdaily@naibtcommercial.com .
Net Leased Retail Properties is selling SuperCenter Plaza in Natchitoches, LA for $8.35 million with a Cap rate of 7.5%. The company also is selling a Costco ground lease and a North Fork Bank in Wharton, NJ for $3.833 million with a Cap rate of 6%. The company also is selling the following Rite Aid stores throughout WA with Cap rates of 7%: $6.6 million in Kent; $7.395 million in Bremerton; Olympia for $7.757 million and in Kirkland for $8.569 million. For more information, contact Shawn Jess, Net Leased Real Properties, 1090 Joshua Way, Suite B, Vista, CA 92801; 760-734-1130 Ext. 100, Fax 760-560-1607; Email: shawn@1031nnnsearch.com ; Web site: www.1031nnnsearch.com .
Robert Stuart Real Estate is selling a portfolio of three Midwestern movie theaters on an absolute triple net basis. The price for the three is just under $31 million with an initial Cap rate of 7.5%. There are 19 years remaining on the leases and rents increase by 8% every five years. For more information, contact Robert Stuart, Robert Stuart Real Estate, 13064 Bender Drive, Moreno Valley, CA 92553; 951-247-2426; Email: rubobstu@verizon.net .
CB Richard Ellis, Inc. represented J. Herzog & Sons, Inc. in the sale of Huntington Plaza, a center located on North Jefferson Street in Huntington, IN to Namdar & Son Corp. The 190,685 sq.ft. center, which is currently 83% leased, sold for approximately $7.22 million. Anchors include JCPenney, Big Lots, Peebles and Maurices. For more information, contact Angela Burrows, CB Richard Ellis, Inc., 311 South Wacker Drive, Chicago, IL 60606; 312-935-1475, Fax 312-935-1445; Email: angela.burrows@cbre.com .
V.I.P. Real Estate, Inc. is selling a fully-leased 26,000 sq.ft. center located on the south shore of Staten Island, NY with a Cap rate of 6.11%. The site also includes a 2,100 sq.ft. freestanding pad site. For more information, contact Stephen E. Picciurro, V.I.P. Real Estate, Inc., 3155 Amboy Road, Staten Island, NY 10306; 718-447-0700 Ext. 302, Fax 718-351-2587; Email: stephen@viprealestate.net .
Comreb Limited Partnership is selling a fully-leased center located in southeastern FL. For more information, contact Ron Neufeld, Comreb Limited Partnership, PMB 110, 1007 North Federal Highway, Fort Lauderdale, FL 33304-1422; Email: comreb@bellsouth.net ; Web site: www.recyber.com/member/r1552 .
Lynch Realty Group, LLC is selling Rawson Commons, a 100% leased center located in Franklin, WI for $3.8 million. For more information, contact Kevin P. Lynch, Lynch Realty Group, LLC, 312-456-9620, Fax 312-456-9626; Email: klynch@lynchrealtygroup.com .
Genesis Commercial Group, Inc. is selling a 3,257 sq.ft. former Burger King restaurant site with a drive-thru located at the intersection of Hillsboro Boulevard and Powerline Road in Deerfield Beach, FL. Area retail includes Super Target. For more information, contact Sev Rodrigues, Genesis Commercial Group, Inc., 954-647-3846, Fax 954-697-5802; Email: sevr@genesiscommercial.com .
1031tax.com is selling a 43.5-acre commercial site located in Riverside County, CA for $15 million. Area retail includes Wal*Mart Supercenter, Lowe’s Home Improvement and Kohl’s. For more information, contact Alan Fruitman, 1031tax.com, 800-454-0015, Fax 866-288-0837; Email: alan@1031tax.com .
Sandor Development Co. sold the following sites: Wal*Mart Shopping Plaza, a 27,222 sq.ft. center located on Oddfellows Road in Crowley, LA for $4.905 million; and a Starbucks store located on U.S. 31 in Franklin, IN for $1.25 million. For more information, contact Jackie Corgan, Sandor Development Co., 2220 North Meridian Street, Indianapolis, IN 46208; 317-925-9011. Or contact the company at 5725 North Scottsdale Road, Suite C-195, Scottsdale, AZ 85250; 480-949-9011; Web site: www.sandordev.com .
Axis Realty Partners is representing a client looking to acquire underperforming centers from 30,000 sq.ft. and up throughout the Mid-Atlantic region. The clients are cash buyers and can close quickly. For more information, contact John O’Dea Jr., Axis Realty Partners, Wayne, PA 19087; 610-687-4600 Ext. 301, Fax 610-687-0404; Email: jodea@axisrealtypartners.com .
Plaza Advisors sold Pier 1 Plaza, a center located on Fourth Street North in St. Petersburg, FL for $2.975 million. The company represented the seller, Optima Partners, LLP. Nael Res, LLC acquired the center. Tenants include Pier 1 Imports and Nextel/Sprint. For more information, contact Jim Michalak, Plaza Advisors, 3412 Bay To Bay Boulevard, Tampa, FL 33629; 813-837-1300 Ext. 101, Fax 813-831-2627; Email: jim.michalak@plazadvisors.com ; Web site: www.plazadvisors.com .
Marcus & Millichap National Retail Group is selling an Econo Lube N’ Tune location at the intersection of West Sahara Avenue and Rainbow Boulevard in Las Vegas, NV. The site has a Cap rate of 6.25% and a 15-year absolute NNN lease with three, five-year options and increases of 6% every three years. For more information, contact Greg Van Ness, Marcus & Millichap National Retail Group, 3993 Howard Hughes Parkway, Suite 300, Las Vegas, NV 89109; 702-215-7129, Fax 702-215-7110; Email: gvanness@marcusmililchap.com .
Grubb & Ellis/BRE Commercial, LLC is selling a 12,771 sq.ft. building located at The Annex at Chandler Commons at the intersection of Ray Road and Cooper Road in Chandler, AZ for $3.915 million with a Cap rate of 6.5%. The building is situated on a land area of 1.74 acres. Cotenants include Fantastic Sam’s, Hungry Howie’s, Beneficial Finance of Arizona and Fitness Defined. The site has an average daily traffic count of 45,800 vehicles. Area demographics include a population of 316,301 within five miles earning $67,001 as the average household income. The company also is selling Safeway Plaza, a 36,526 sq.ft. center located on Stockton Hill Road in Kingman, AZ for $8.4 million with a Cap rate of 6.62% The center is situated on a land area of 3.61 acres and is currently 96.5% occupied. For more information contact, Gregory B. Valladao or Ryan J. Schubert, Grubb & Ellis/BRE Commercial, LLC, 2375 East Camelback Road, Suite 300, Phoenix, AZ 85016; 602-954-9000, Fax 602-468-8588; Emails: gvalladao@brephoenix.com and rschubert@brephoenix.com ; Web site: www.brephoenix.com .
Henzlik-Oliver Real Estate Cos., LLC acquired Village Mall Shopping Center, a 98,457 sq.ft. center located on West 10th Street in Great Bend, KS. The center is anchored by Food 4 Less and Village Cinema. For more information, contact Tyler S. Oliver, Henzlik-Oliver Real Estate Cos., LLC, 13356 Metcalf, Overland Park, KS 66213; 913-438-9900, Fax 913-438-9994; Web site: www.henzlikoliver.com .
Mike Rivera & Associates, LLC is looking to acquire power centers and malls from 100,000 sq.ft. and up throughout FL and GA with a minimum Cap rate of 7%. The company also will acquire portfolios and prefers to work with principals and direct leasing brokers only. The company also is selling an outparcel corner site located in Fort Myers, FL for $1.5 million. The 0.75 acre-site is approved for a full-service car wash with retail and an 80-foot tunnel. A lease with Dunkin’ Donuts has been signed. The site has an average daily traffic count of 55,000 vehicles. For more information, contact Michael A. Rivera, Mike Rivera & Associates, LLC, 239-770-6257, Fax 239-495-2066; Email: invest@e-realtyinfo.com .
Stirling Properties is selling a 44,752 sq.ft. former Wal*Mart store located on Highway 1 South in Donaldsonville, LA for $600,000. The site has an average daily traffic count of 24,212 vehicles. Area demographics include a population of 28,830 within 10 miles earning $50,624 as the average household income. The company’s Gulfport, MS office is selling a land area of 1.49 acres on West Aloha Drive in Diamondhead, MS. The site has an average daily traffic count of 37,000 vehicles. Area demographics include a population of 20,292 within five miles earning $60,158 as the average household income. The company also is selling the following former Wal*Mart sites: a 41,076 sq.ft. site on North 4th Street in Ferriday, LA; a 42,207 sq.ft. site on South Julia Street in Rayville, LA and a 52,331 sq.ft. site on East Main Street in Oakgrove, LA. The company also is selling Howard Shopping Center, a 61,391 sq.ft. center located at the intersection of U.S. Highway 90 and Hanley Road in Ocean Springs, MS for $2.85 million. The center is anchored by Big Lots, Tuesday Morning, Family Dollar, Magnolia Music, Shalimar Apparel, USA Insurance and Barbers Leasing. The site has an average daily traffic count of 41,000 vehicles. Area demographics include a population of 106,676 within 10 miles earning $56,738 as the average household income. For more information, contact Dottie Tarleton, Stirling Properties, 8550 United Plaza Boulevard, Baton Rouge, LA 70810; 225-926-4481, Fax 225-925-9888; Email: dtar@stirlingprop.com ;Web site: www.stirlingprop.com . For more information regarding the Diamondhead, MS site, contact Monte Luffey or Tim Carlson, Stirling Properties, 1911 23rd Avenue, Gulfport, MS 39502; 228-864-8629, Fax 228-563-5617; Emails: mluffey@stirlingprop.com and tcarlson@stirlingprop.com . For more information regarding the former Wal*Mart sites, contact Jonathan Walker or Jeff Landry, Stirling Properties, 8550 United Plaza Boulevard, Baton Rouge, LA 70810; 225-926-4481, Fax 337-572-0237; Emails: jwalker@stirlingprop.com and jlandry@stirlingprop.com . For more information regarding Howard Shopping Center, contact Chris Abadie, Stirling Properties, 615 Baronne Street, Suite 100, New Orleans, LA 70113-1082; 504-523-4481, Fax 504-523-4475; Email: cabadie@stirlingprop.com .
Hutensky Capital Partners, LLC acquired North Bergen Center, a 124,000 sq.ft. center located at the intersection of 69th Street and U.S. Routes 1-9, also known as Tonnelle Avenue, in North Bergen, NJ for $13.4 million. The center is anchored by a 64,272 sq.ft. Pathmark supermarket. The site provides the opportunity to redevelop a 60,000 sq.ft. space formerly occupied by a movie theater and for the addition of an outparcel. For more information, contact Michael J. Cubeta, The Hutensky Group, 280 Trumbull Street, Second Floor, Hartford, CT 06103-3599; 888-527-0827 or 860-297-4543, Fax 860-706-0076; Web site: www.hutenskygroup.com .
NAI Ohio Equities is selling June Parkway Plaza, an 18,000 sq.ft. center located in Zanesville, OH for $2.035 million with a Cap rate of 8.62%. Tenants include Advance America, H&R Block, Allways Party Store, Z Nails, USA Pizza, Country Dollar, Phone Depot and Curves. The site has a net operating income of $175,619. For more information, contact Michael Zelnik or Patrick Dwyer, NAI Ohio Equities, 614-629-5280/5282; Emails: mike@44ohio.com and pat@44ohio.com .
D. Linton & Associates Realty is looking to acquire empty big box retail spaces nationwide up to $25 million. The company is able to close within 30 days on deals over $5 million and is able to close within 10 days on deals up to $5 million. For more information, contact Sandra Heurtelou, D. Linton & Associates Realty, 14540 SW 136 Street, Suite 100, Miami, FL 33186; 305-234-1232, Fax 305-234-1252; Email: sandrah@dlintonrealty.com .
Sperry Van Ness is selling Highland Station, a 12,088 sq.ft. center located in Dallas/Fort Worth, TX for $2.775 million with a Cap rate of 7.5%. For more information, contact Brad Cruickshank, Sperry Van Ness, 3108 West 5th Street, Fort Worth, TX 76107; 817-870-9886, Fax 817-870-9734; Email: bradc@svn.com .
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