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Buyers & Sellers
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Buyers & Sellers Sperry Van Ness sold an Eckerd drug store in Rolesville, NC for $4.27 million with a Cap rate of 7% and closed in 30 days. The company also completed the sale of Mariposa Plaza, a 39,600 sq.ft. center located on Brookhurst Street in Fountain Valley, CA to Mariposa Plaza, LLC for $13.96 million. The company represented the buyer as well as the seller, Rancho Mirage. The center is situated on a land area of 3.82 acres and is cotenanted by Hoag Healthcare, Tarbell Realtors, Citi Financial, Edward Jones Financial and Togo’s. The company also completed the sale of a single-tenant NNN-leased building occupied by Value City Furniture, to Oak Park, IL-based GRP Greenfield, LLC for $5.17 million. The 56,785 sq.ft. building is located on South 27th Street in Greenfield, WI. The seller was RMS Properties II, LLC. The company also completed the sale of a retail building tenanted by Wells Fargo Bank located within the Lemon Creek Village to a private investor for $2.75 million. The 6,915 sq.ft. building is located at the intersection of 60 Freeway and North Lemon Avenue in Walnut, CA. The company is also seeking acquisitions of NNN Walgreens priced between $3.3 million and $4 million throughout the Midwest or Southeast. For more information regarding the Eckerd in NC, contact Troy Legge, Sperry Van Ness, 13900 Conlan Circle, Suite 110, Charlotte, NC 28277; 704-759-3800 Ext. 14; Email: troy.legge@svn.com. For more information regarding Mariposa Plaza, the Value City and Lemon Creek Village properties, contact David Ebeling, Sperry Van Ness; 949-225-1883; david.ebeling@svn.com. For more information regarding Walgreens, contact Tom Vincent at 847-963-1031, Fax 847-358-7634; Web sites: www.svnlighthouse.com and www.svn.com.
EGRealty is seeking to acquire a NNN property leased to a national tenant with a corporate guarantee throughout CT, NJ, NY or PA, with asking prices ranging from $5 million to $10 million. For more information, contact Irina Chmeleva, EGRealty; 917-723-6727; Email: ichmeleva@1031EGR.com ; Web site: www.1031egr.com.
Commercial West Associates is selling a 4,635 sq.ft. T-Mobile-anchored center in Fresno, CA for $2.3 million with a Cap rate of 6.22%. For more information, contact Dru Zachmeyer, Commercial West Associates, 5 River Park Place West, Suite 110, Fresno, CA 93720; 559-490-3600, Fax 559-490-3610; Email: dzachmeyer@commercialwest.net.
The Royston Group is selling a Starbucks in Jackson, MS for $1.48 million with a Cap rate of 6.5%. For more information, contact Rob Sutton, The Royston Group, 1299 Ocean Avenue, Suite 316, Santa Monica, CA 90401-1054; 310-451-2100, Fax 310-395-3557; Email: rsutton@theroystongroup.com; Web site: www.theroystongroup.com. NAI Avant sold the 72,909 sq.ft., seven-acre Dentsville Square Shopping Center in Columbia, SC. The property was acquired by a private investor from West Coast Life Insurance for $3.3 million. The company also represented Twin Hickory Development Co. in its sale of three NNN leased Walgreens locations to a San Francisco, CA-based buyer. The properties are located in Kernersville, NC; Winston-Salem, NC and Glen Allen, VA. The transaction had an aggregate sales value of $14.3 million. For more information, contact NAI Avant, 1901 Main Street, Suite 200, Columbia, SC 29201; Web site: www.naiavant.com.
Coldwell Banker Commercial is selling Food Lion Center in Marion, SC. The company is also selling a 6,875 sq.ft. strip center located in Summerville, SC at a Cap rate of 8%. For more information, contact Brian Aiken, Coldwell Banker Commercial, 3506 West Montague Avenue, Suite 200, Charleston, SC 29418; 843-744-9877, Fax 843-744-9879; Emails: elmoremichael@bellsouth.net and brianmaiken@yahoo.com.
Lincoln Harris is selling a Starbucks located on University Parkway in Winston-Salem, NC. Asking price for the 3,250 sq.ft. store is $1.58 million with a Cap rate of 6%. Area retail includes Wal*Mart Supercenter, Lowe’s Home Improvement and Home Depot. Area demographics include a population of 29,147 within three miles earning $47,990 as the average household income. For more information, contact James Mattox, Lincoln Harris, 3000 RDU Center Drive, Morrisville, NC 27560; 919-840-8040 Ext. 7, Fax 919-840-0240; Email: jmattox@lincolnharris.com.
Cohen Commercial Properties, LLC is looking to acquire value-added urban retail properties priced from $5 million and up, as well as suburban shopping centers from $10 million and up. The company prefers sites in densely populated markets nationwide and in Puerto Rico. For more information, contact Andrew J. Cohen, Cohen Commercial Properties, LLC, 9 East 40th Street, New York, NY 10016; 212-679-1222, Fax 212-679-1533; Email: cohen@cohenco.com.
Ramco Gershenson Properties Trust is seeking to acquire anchored shopping centers located throughout the Midwest, Mid-Atlantic and southeast with GLAs ranging from 100,000 sq.ft. to 350,000 sq.ft. having a population of 50,000 within three miles. For more information, contact Catherine Clark or Deborah
Godfrey, Ramco Gershenson Properties Trust, 31500 Northwestern Highway Hilco Real Estate, LLC is selling a Bally’s fitness center located on Park Place in Morrow, GA. The 21,364 sq.ft. building is situated on a land area of 2.77 acres. The site has an average daily traffic count of 160,000 vehicles. Area retail includes Macy’s, Sears and JCPenney. Area demographics include a population of 185,498 within five miles earning $52,061 as the average household income. The company is also seeking to acquire retail or industrial assets that are either vacant or have short remaining lease terms in place. The company is also selling a 3,275 sq.ft. Hardee’s located in Hamilton, AL for $1.15 million with a Cap rate of 8%. The company is also selling an 11,600 sq.ft. NNN leased Walgreens located in Bedford, OH for $1.53 million with a Cap rate of 7%. Area demographics include a population of 162,000 within five miles earning $46,000 as the average household income. For more information, contact Joshua E. Joseph, Hilco Real Estate, LLC, One Northbrook Place, 5 Revere Drive, Suite 320, Northbrook, IL 60062; 847-504-2459, Fax 847-897-0859; Email: jjoseph@hilcorealestate.com. For more information regarding the Hardee’s and Walgreens properties, contact Andrew S. Becker; 847-504-2464, Fax 847-897-0788; Email: abecker@hilcorealestate.com; Web site: www.hilcorealestate.com.
Fairmont Capital is selling Brick Church Shopping Center located on Main Street in East Orange, NJ. Asking price for the ShopRite-anchored center is $24 million with a Cap rate of 7.4%. For more information, contact Joseph Drebin, Fairmont Capital, 39 West 37th Street, New York, NY 10018; 212-710-4022, Fax 212-937-6101; Email: jdrebin@fairmontcap.com; Web site: www.fairmontfunding.com.
Colliers International is selling a 100% leased Home Depot-shadowed-anchored center located at the intersection of Highway 6 and Richmond Avenue in Houston, TX. Cotenants include Radio Shack, Pearle Vision, Sally Beauty Supply and EZ Pay Day Loans. Asking price is $2.81 million for the 9,600 sq.ft. center. The company is also selling 3.71 acres on Bells Ferry Road in Woodstock, GA. The site has an average daily traffic count of 22,950 vehicles. Area demographics include a population of 51,044 within three miles earning $96,493 as the average household income. Area retail includes Wal*Mart. For more information, contact Patrick Graham, Colliers International, 1300 Post Oak Boulevard, Suite 200, Houston, TX 77056; 713-830-2169, Fax 713-986-4969; Email: pgraham@collierstexas.com. For more information regarding the GA site, contact Jeremy Greenwell, Colliers International, 1349 West Peachtree Street, Atlanta, GA 30309; 404-877-9290; Email: jeremy.greenwell@colliers.com; Web site: www.colliers.com.
Staubach Retail is selling a former Dillard’s anchor position at the Hickory Ridge Mall, located at the intersection of Winchester Road and Hickory Hill in Memphis, TN. The 154,000 sq.ft. store, situated on a land area of 9.321 acres, has an average daily traffic count of 65,000 vehicles. Asking price is $3.1 million. Macy’s and Sears anchor the mall. Area demographics include a population of 96,896 within three miles earning $49,480 as the average household income. For more information, contact Liz Whiteside, Staubach Retail, 3400 Peachtree Road, Suite 1100, Atlanta, GA 30326; 404-231-9631; Email: liz.whiteside@staubach.com.
M2, LLC is selling a Dollar General located in Muleshoe, TX for $399,999 with a Cap rate of 9%. For more information, contact Mike S. Mattioli, M2, LLC, 721 14th Street Southwest, Albuquerque, NM 87102; 505-243-2153, Fax 505-314-0900; Email: mmattioli@m2realestate.biz .
Stalworth Real Estate Services is selling Big Spring Mall, located on FM Loop 700 in Big Spring, TX. The site has an average daily traffic count of 20,000 vehicles. The 132,030 sq.ft. center is situated on a land area of 14.057 acres and is anchored by Bealls, Sears and Cinemark Movie Theater. Area demographics include a population of 19,549 within three miles earning $42,006 as the average household income. Cotenants include Amerikick, Blum’s Jewelry, Seams So Nice Alterations, Attitudes Hair Salon, Suggs Hallmark, Merle Norman Cosmetics, Serendipity Ice Cream, Keller Williams Realtors, Hollywood Nails and Greg’s Grill. Asking price is $1.5 million. For more information, contact Frank Heifrin or Jack Culpepper III, Stalworth Real Estate Services, 1700 George Bush Drive East, Suite 240, College Station, TX 77840; Emails: fgh@stalworthonline.com and jack@stalworthonline.com; Web site: www.stalworthonline.com.
Weichert Commercial Brokerage, Inc. is selling a 2,000 sq.ft. building located on Route 46 in Dover, NJ for $489,000. The company is also selling a 12,500 sq.ft. building located on Route 22 in Union, NJ for $3.6 million. The site is located on a land area of 0.62 acres. Area retail includes Party City, Target, Babies “R” Us and Circuit City. For more information on the Route 46 property, contact Patricia Feehan, Weichert Commercial Brokerage, Inc.; Email: pfeehan@weichertcommercial.com. For more information on the Route 22 property, contact Barry A. Feldman or David Fisher, Weichert Commercial Brokerage, Inc., 225 Littleton Road, Morris Plains, NJ 07950; 973-267-7778, Fax 973-267-5432; Emails: bfeldman@weichertcommercial.com and dfisher@weichertcommercial.com; Web site: www.weichertcommercial.com. Champion Realty Advisors, LLC is selling a 0.689-acre location at the intersection of Hilton Street and Archer Avenue in Willow Springs, IL. The site has an average daily traffic count of 18,100 vehicles. Asking price is $650,000. For more information, contact Austen Alexa, Champion Realty Advisors, LLC, 3500 Lacey Road, Suite 240, Downers Grove, IL 60515; 630-598-1001, Fax 630-598-1002; Email: austen@championre.com .
NewMark Merrill Cos. completed the sale of Cottonwood Corners, an Albertsons-anchored center located at the intersection of College Avenue and Horsetooth Road in Fort Collins, CO. The center was purchased for $9.2 million. The 80,276 sq.ft. center is situated on a land area of 7.149 acres and is cotenanted by Famous Footwear, Country Cleaners and Cottonwood Liquors. The company also completed the sale of Broomfield Plaza. The Hobby Lobby-anchored center is located at the intersection of 120th and Sheridan Boulevard in Broomfield, CO. The center was acquired for $10.2 million. The 105,064 sq.ft. center is situated on a land area of 10.7 acres and is cotenanted by Hallmark, Black Jack Pizza, The UPS Store, Sherwin-Williams and Tuesday Morning. The company also completed the sale of Summit Square, a Safeway-anchored center located at the intersection of 84th Avenue and Federal Boulevard in Westminster, CO for $8.35 million. The 96,153 sq.ft. center is situated on a land area of 10.75 acres and is cotenanted by Wells Fargo, Taco Bell, Baskin Robbins, H&R Block, World Savings, Department of Motor Vehicles and Panda Buffet. The company also completed the sale of Stratford Crossing, a 358,000 sq.ft. center located in Bloomingdale, IL for $50 million. The center is 96.4% leased to tenants including Big Kmart, Dominick’s Grocery Store, The Sports Authority, PetSmart, Outback Steakhouse, Ruby Tuesday’s and Shoe Carnival. For more information, contact NewMark Merrill Cos., 5850 Canoga Avenue, Suite 650, Woodland Hills, CA 91367; 818-710-6100, Fax 818-710-6116; Web site: www.newmarkmerrill.com.
Blanchard & Calhoun Commercial is selling FATZ Café located on Pine Log Road in Aiken, SC. The 6,566 sq.ft. restaurant has an average daily traffic count of 15,000 vehicles. Area retail includes Wal*Mart, Target, Home Depot, Lowe’s Home Improvement, Kroger, Publix, Old Navy and Aiken Mall. The current NOI is $177,000. For more information, contact Mike Graybill or Matt Mills, Blanchard & Calhoun Commercial, 2743 Perimeter Parkway, Building 100, Suite 370, Augusta, GA 30909; 706-854-6715/6710, Fax 706-722-6960; Emails: mgraybill@bccommercial.com and mmills@bccommercial.com; Web site: www.bccommercial.com. AmCap, Inc. and Hart Realty Advisers, Inc. acquired NorthPoint Center, a 275,000 sq.ft. center located at the intersection of Rand, Arlington Heights and Palatine Roads in Arlington Heights, IL for $62.8 million. The center is anchored by Jewel-Osco, Old Navy, Office Depot and Ulta. Circuit City will also join the center. The site has an average daily traffic count of 151,800 vehicles. Area demographics include a population of 143,000 within three miles earning $95,000 as the average household income. For more information, contact Jake Bisenius, AmCap, Inc.; 203-327-2001; Email: jbisenius@amcap.com; Web site: www.amcap.com. Or contact William H. Holmes, Hart Realty Advisers, Inc.; 860-651-4000; Email: whh@hartadvisers.com; Web site: www.hartadvisers.com.
Schuckman Realty, Inc. is selling a shopping center in Nassau County, Long Island, NY and two shopping centers located in Suffolk County, Long Island, NY. For more information, contact Ken Schuckman, Schuckman Realty, Inc., 7600 Jericho Turnpike, Woodbury, NY 11797; 516-496-8888, Fax 516-496-8905; Email: ken@schuckmanrealty.com.
20six Realty Group, LLC is selling three Eckerd pharmacies, each located in NJ, NY and PA. All have long-term leases in place. The sites are being offered at a Cap rate of 6.75%. For more information, contact Isaac Klein, 20six Realty Group, LLC; 212-612-0272; Email: Isaac@26realty.com; Web site: www.26realty.com.
NAI Batten & Moore, LLC is selling the following four Walgreens locations with Owen Real Estate: A Walgreens located in Apex, NC for $5.88 million with a Cap rate of 6.15%; a Walgreens located in Wake Forest, NC for $5.18 million with a Cap rate of 6.25%; a Walgreens located in Pawley’s Island, SC for $5.18 million with a Cap rate of 6% and a Walgreens located in Florence, SC for $5.23 million with a Cap rate of 6.4%. For more information, contact Dunston Powell, NAI Batten & Moore, LLC, 49 Immigration Street, Suite 100, Charleston, SC 29403; 843-576-0123, Fax 843-577-6656; Email: dunston@battenandmoore.com.
AmREIT is selling Blanco Pointe located at the intersection of Blanco Road and Huebner Road in San Antonio, TX for $7.2 million. The 25,396 sq.ft. center is situated on a land area of 3.68 acres. Area demographics include a population of 44,426 within three miles earning $117,299 as the average household income. The site has an average daily traffic count of 45,000 vehicles. For more information, contact AmREIT, 8 Greenway Plaza, Suite 1000, Houston, TX 77046; 713-850-1400, Fax 713-850-0498.
Centcom Realty is selling a former Tia’s Restaurant located on Spring Valley Road in Richardson, TX. The 5,964 sq.ft. building is situated on a land area of 50,263 sq.ft. Area retail includes CVS and Chili’s. Area demographics include a population of 152,563 within three miles earning $62,217 as the average household income. The asking price is $850,000. For more information, contact Jeremy A. Gray, Centcom Realty, 100 Crescent Court, Dallas, TX 75201; 214-871-5050.
CB Richard Ellis is selling a Hy-Vee supermarket located on West 119th Street in Olathe, KS for $12.75 million with a Cap rate of 6.43%. The 76,890 sq.ft. store is situated on a land area of 8.6 acres. For more information, contact CB Richard Ellis, 10 Universal City Plaza, 27th Floor, Universal City, CA 91608; 818-502-6700, Fax 818-243-6069; Web site: www.cbre.com.
Clarke Wyndham is selling Shops on Texas located at the intersection of Texas Avenue and Holleman Drive in College Station, TX. The 16,000 sq.ft. is cotenanted by Rhino Games and Philly Connection. Blockbuster Video anchors the center. The site has an average daily traffic count of 43,000 vehicles. Area retail includes Hobby Lobby, Ross Dress For Less, Shoe Carnival, Starbucks, Sprint, Verizon, HEB, Target and Old Navy. Asking price is $5.65 million with a Cap rate of 7%. Area demographics include a population of 78,340 within three miles earning $40,771 as the average household income. The company is also selling Gleannloch Farms located at the intersection of Spring-Cypress Road and Champion Forest Drive in Spring, TX. The 8,200 sq.ft. center is cotenanted by Great Clips, Plaza Carpet, CVS and Top Donut. Area retail includes Kroger, Walgreens, Bank of America, Chase, Washington Mutual, Starbucks and Wendy’s. The asking price is $2.44 million with a Cap rate of 7.5%. Area demographics include a population of 92,113 within three miles earning $73,255 as the average household income. For more information, contact Jarrett Adame, Clarke Wyndham, 5005 Riverway, Suite 210, Houston, TX 77056; 713-888-0997, Fax 713-888-0998; Email: jadame@clarkewyndham.com.
Brookside Realty Corp., Inc. is seeking to acquire shopping centers located within any southern or central states. The centers must have GLAs of at least 100,000 sq.ft. with a stable tenant base. For more information, contact Amy J. Saul, Brookside Realty Corp., Inc., 5801 Congress Avenue, Boca Raton, FL 33487; Email: amy561@aol.com; Web site: www.brooksiderealty.com. Trout, Segall & Doyle is looking to acquire centers in the $1 million to $5 million range throughout the Mid-Atlantic states. For more information, contact Arthur W. Putzel, Trout, Segall & Doyle, 2 Village Square, Suite 219, Baltimore, MD 21210-1600; 410-435-4000, Fax 410-435-4277; Email: aputzel@troutsegall.com.
Hanley Brown Group Real Estate Advisors is selling College Country Shopping Center located at the intersection of Center Avenue and Gothard Street in Huntington Beach, CA. The 59,793 sq.ft. center is situated on a land area of 3.77 acres. Del Taco anchors the center. Asking price is $12.65 million with a Cap rate of 6.37%. The company is also selling Magnolia Point & Magnolia Center located at the intersection of Magnolia Street and McFadden Avenue in Westminster, CA. Both the 16,808 sq.ft. Magnolia Point and 9,940 sq.ft. Magnolia Center are situated on a land area of 1.99 acres. Asking price is $11.7 million with a Cap rate of 6%. The company also closed the following sales: 90,269 sq.ft. Champan Heights located in Yucaipa, CA for $12.24 million; 8,000 sq.ft. Hollywood Video located in Colton, CA for $1.71 million; 2,134 sq.ft. Wienerschnitzel/Tastee Freez in Wildomar, CA for $1.96 million; 57,818 sq.ft. Diamond Valley Shopping Center located in Hemet, CA for $4.99 million; 6,589 sq.ft. Harbor City Plaza located in Harbor City, CA for $2.3 million; 3,100 sq.ft. Jack in the Box located in La Miranda, CA for $1.53 million; 40,000 sq.ft. Gold’s Gym in San Antonio, TX for $6.125 million; 5,000 sq.ft. Pacific Dental located in Riverside, CA for $1.6 million and Santa Fe Crossroads located in Vista, CA for $3.76 million. The company is also selling a single-tenant NNN Jiffy Lube & Carwash site located in Moreno Valley, CA for $2.16 million with a Cap rate of 6%. Area retail includes Office Depot, Big Lots, Rite Aid, Radio Shack, Subway, KFC and Jack in the Box. The site has an average daily traffic count of 188,000 vehicles. For more information, contact Hanley Brown Group Real Estate Advisors, 2569 McCabe Way, Suite 100, Irvine, CA 92614; 949-585-7610, Fax 949-585-7611; Email: info@hanleybrown.com. For more information regarding the Jiffy Lube property, contact Eric L. Werner; 949-585-7678; Email: eric.werner@hanleybrown.com; Web site: www.hanleybrown.com.
Cole Realty Advisors is selling a Tortuga Cantina Restaurant located in The Woodlands, TX. Asking price for a cash buyer is $2.165 million with a Cap rate of 8.5%. There are 7.5 years remaining on initial term, with 4% rental bumps every two years. For more information, contact Eddie Villa, Cole Realty Advisors, 2555 East Camelback Road, Suite 400, Phoenix, AZ 85016; 602-778-8773, Fax 602-778-8776; Email: evilla@colecapital.com; Web site: www.colecapital.com. Commercial Investment Realty Group, Inc. is selling a 5,000 sq.ft. building situated on a land area of 10,500 sq.ft. in Idaho Springs, CO to principals only. Asking price is $525,000. For more information, contact Bob Cornella, Commercial Investment Realty Group, Inc.; Email: bobcornella@bellsouth.net.
Mid-America Real Estate Corp. brokered the sale of Ontario City Center located at the intersection of Ontario Street and Rush Street in Chicago, IL to a private investor. The seller was a private partnership based in Chicago. The eight-story, 320,717 sq.ft. project is cotenanted by Four Points by Sheraton, Trader Joe’s, Fifth Third Bank, T-Mobile and Starbucks. For more information, contact Mid-America Real Estate Corp., Two Mid-America Plaza, Third Floor, Oakbrook Terrace, IL 60181-4713; 630-954-7300, Fax 630-954-7304/7306; Web site: www.midamericagrp.com.
The Tower Group is representing a REIT seeking to acquire two more properties. The client prefers properties such as bookstores, office supply stores and pharmacies, and has particular interest in retailers such as Bed, Bath & Beyond, Stein Mart, Kmart and Belk. The client prefers a Cap rate of 7.5% to 8%. For more information, contact John Murphy, The Tower Group; 251-968-3585; Email: jdmurphy@gulftel.com.
Karpoff Affiliates, LLC represents buyers that acquire up to 100% of projects during pre-construction. The company’s individual buyers can purchase from 30% to 100% of projects units. Pre-construction and conversion projects welcome. For more information, contact Marilyn Karpoff, Karpoff Affiliates, LLC, The Chrysler Building, 132 East 43rd Street, Suite 343 New York, NY 10017; 212-358-8044, Fax 646-607-7259; Email: mkarpoff@karpoffaffiliates.com; Web site: www.karpoffaffiliates.com.
Investment Real Estate Associates is representing a client seeking to place $50 million of 1031 equity in the first quarter of 2007. The client is seeking opportunities with the following criteria: Retail in MI or any primary market in the southwest or west; power centers, anchored strips, large single tenant, which must be NNN leased with a minimum of seven years remaining on the leases; minimum initial ROE requirement of 6.5% and no existing debt. The client may consider unique joint venture or passive equity positions in group-up, redevelopment, replacement of equity or land infrastructure plays. For more information, contact Kevin G. Kowalski, Investment Real Estate Associates, 1200 Brickell Avenue, Suite 800, Miami, FL 33131; 305-808-7960, Fax 305-808-7962; Email: kevin@irea-usa.com.
Goldstein Development Co., a division of The Goldstein Group, develops retail and residential properties. The company acquires properties, creates joint ventures using a value-added services technique and handles property management, as well as project financing. The company is seeking development opportunities of land areas ranging from one acre to 200 acres, as well as retail or retail/multi-unit residential projects from 10,000 sq.ft. to 20,000 sq.ft. For more information, contact Alan Goldstein, The Goldstein Group, 266 Harristown Road, Suite 105, Glen Rock, NJ 07452; 201-703-9700 Ext. 13, Fax 201-703-9678; Email: agoldstein@thegoldsteingroup.com; Web site: www.thegoldsteingroup.com.
Ronus Properties is seeking to acquire retail/mixed-use properties, power, lifestyle and neighborhood centers throughout the southern, southwestern and eastern states for $15 million to $150 million. For more information, contact Rick Langhorne, Richard Markham or Jackie Wammock, Ronus Properties, Piazza at Paces, The Forum, 3290 Northside Parkway, Suite 250, Atlanta, GA 30327; 678-553-4000/4030/4040, Fax 678-553-4001; Web site: www.ronusproperties.com.
Equity One is seeking to acquire the following: stabilized market-dominant grocery-anchored properties having a GLA of at least 65,000 sq.ft. with supply-side restrictions and strong demographics, and value-added properties offering potential near-term revenue enhancements that could result from re-positioning the tenant mix, building expansion space for existing or new tenants and building out pads. For more information, contact Alan Merkur, Equity One, 1600 Northeast Miami Gardens Drive, North Miami Beach, FL 33179-4900; 305-947-1664, Fax 305-947-1734; Email: acquisitions@equityone.net; Web site: www.equityone.net.
AEI Fund Management, Inc. is seeking to acquire freestanding, NNN leased restaurants and retail properties nationwide. For more information, contact George Rerat, AEI Management, Inc., 30 East Seventh Street, Suite 1300, St. Paul, MN 55101; 800-328-3519, Fax 651-227-7705; Email: aeifund2@aeifunds.com; Web site: www.aeifunds.com.
Nassimi Realty Corp. is acquiring shopping centers with a minimum GLA of 50,000 sq.ft. nationwide and minimum GLAs of 100,000 sq.ft. throughout FL. The company’s acquisitions typically range from $500,000 to $30 million. For more information, contact Oliver Nassimi, Nassimi Realty Corp., 7 Penn Plaza, Suite 1700, New York, NY 10001; 212-643-8080, Fax: 212-643-2626; Email: oliver@nassimirealty.com; Web site: www.nassimirealty.com . Borrus Associates is seeking to acquire anchored neighborhood, power and strip centers throughout CT, DE, MD, NJ, NY and PA on behalf of investors. For more information, contact Julius Borrus, Borrus Associates, 294 Broad Street, Red Bank, NJ 07701; 732-345-7002, Fax 732-345-7207.
Kin Properties, Inc. is seeking to acquire single-tenant retail, industrial or office properties, subject to existing net leases, with rents at or below market rents. The company acquires as a principal, on average, 50 locations annually. For more information, contact Lee Cherney, Kin Properties, Inc., 185 Northwest Spanish River Boulevard, Suite 100, Boca Raton, FL 33431; 561-620-9200 or 888-546-7767, Fax 561-955-9921; Email: info@kinproperties.com; Web site: www.kinproperties.com.
The Triad Group brokered the sale of 61-83 Braintree Street, located in Boston, MA, for $2.7 million. The company represented the buyer, USRI, LLC, and the seller, Thompson Durkee Co. For more information, contact Linda Sternberg, The Triad Group, 930 Commonwealth Avenue South, Boston, MA 02215; 888-Triad-01; Email: sternymom@comcast.net; Web site: www.thetriadgroup.com.
Gould Investors L.P. is seeking to acquire urban storefronts and anchored shopping centers throughout Boston, MA; NJ; NY; Philadelphia, PA and Washington, DC, ranging from $2 million to $25 million. For more information, contact Marlon E. Matza, Gould Investors L.P., 60 Cutter Mill Road, Suite 203, Great Neck, NY 11021; 516-466-3100, Fax 516-684-4923; Email: marlonm@gouldlp.com; Web site: www.gouldlp.com.
The Cotswold Group, Inc. is seeking well-located under-performing retail properties in trade areas with a population of at least 100,000 on the East Coast. The company currently owns centers throughout NJ, NY, PA and VA. For more information, contact Robert Y. Shasha, The Cotswold Group, Inc., 550 Mamaroneck Avenue, Suite 411, Harrison, NY 10528-1634; 914-381-8040, Fax 914-381-8044; Email: rshasha@cotswoldgroupinc.com.
Smigel Partners IX, Ltd. sold a 24-acre retail parcel located at the intersection of Orange Avenue and Hartman Road in Ft. Pierce, FL to Orange Avenue Shoppes Fla, LLC for $9.5 million. ComNet Realty, Inc. represented the buyer. For more information, contact ComNet Realty, Inc., 4800 North Federal Highway, Suite B205, Boca Raton, FL 33431; 561-999-0006, Fax 561-999-0007; Email: comnet@comnetrealty.com; Web site: www.comnetrealty.com. Urstadt Biddle Properties, Inc. is seeking to acquire 50,000 sq.ft. grocery-anchored neighborhood and shopping centers throughout the NY metropolitan area, primarily in Westchester and Putnam counties, NY and Fairfield County, CT. The company’s minimum transaction price is $4 million. For more information, contact John C. Merritt, Jr. or James Aries, Urstadt Biddle Properties, Inc., 321 Railroad Avenue, Greenwich, CT 06830; 203-863-8211/8224, Fax 203-861-6755; Emails: jmerritt@ubproperties.com or jaries@ubproperties.com; Web site: www.ubproperties.com.
Ron Bennett Commercial Real Estate is selling 98 acres located on Interstate 5 in WA, 12 miles south of the Canadian border. Entitlements are near completion for a 1.1 million sq.ft. lifestyle center. Asking price is $33 million. For more information, contact Ron Bennett, Ron Bennett Commercial Real Estate, 1919 Cornwall Avenue, Bellingham, WA 98225; 800-671-9440, Fax 360-671-9449; Email: ron@ronbennett.com; Web site: www.ronbennett.com.
Fantastic Realty, Inc. is selling the following properties: A 24,000 sq.ft. land area, suitable to build 115,000 sq.ft. of retail or residential space, located at the intersection of 165th Street and 3rd Avenue in the Bronx, NY for $7 million. Area demographics include a population of 950,000 within 2.5 miles. Area retail includes Family Dollar, McDonald’s, R&S Strauss, C-Town Supermarket and Dunkin’ Donuts, and a 9,000 sq.ft. parcel, suitable to build 35,000 sq.ft. of retail or residential space, located at the intersection of 169th Street and Webster Avenue in the Bronx, NY for $1.8 million. Area demographics include a population of 750,000 within two miles. Area retail includes Family Dollar, Super Laundromat, Associated Supermarket, Dunkin’ Donuts and Domino’s Pizza. The company is also selling a 107,000 sq.ft. center located on South Washington Street in Junction City, KS for $2.5 million. Cotenants include Food 4 Less, Orscheln and Cellular One. For more information, contact Fantastic Realty, Inc., 12 Sam Law Drive, Monsey, NY 10952; 845-352-9844, Fax 845-352-9845; Email: david@fantasticrealtyinc.com.
BND Commercial, LLC sold Northpointe Shopping Center, located at the intersection of Lima Road and Dupont Road in Fort Wayne, IN. For more information, contact David Nugent, BND Commercial, LLC, 1021 South Calhoun Street, Suite 1, Fort Wayne, IN 46802; 260-407-0900, Fax 260-469-7137; Email: dnugent@bndcommercial.com; Web site: www.bndcommercial.com.
Breslin Realty, Inc. is selling the following properties: A 6,200 sq.ft. freestanding Blockbuster Video located on Grand Avenue in Baldwin, NY for $2 million; a 750 sq.ft. freestanding retail site on a land area of 0.07 acres, located on Sunrise Highway in Valley Stream, NY for $750,000 and a land area of 2.05 acres, located on Fulton Avenue in Farmingdale, NY for $4 million. For more information regarding Blockbuster Video, contact Ken Breslin, Breslin Realty, Inc., 500 Old Country Road, Suite 200, Garden City, New York 11530; 516-741-7400, Fax 516-741-7128. For more information regarding the remaining properties, contact Brad Barish; 516-741-7400 Ext.231; Emails: kbreslin@breslinrealty.com and bbarish@breslinrealty.com; Web site: www.breslinrealty.com.
Bob Bassel Realties, Inc. is acquiring net leased investment retail, office, industrial and commercial properties with a 15-year minimum lease term. The company will also consider land lease investments. For more information, contact Bob Bassel, Bob Bassel Realties, Inc., 1312 Catherine Street West, Suite 318, Montreal, Quebec, Canada H3G 1P6; 514-871-9414, Fax 514-871-9506; Email: info@bobbassel.com.
Trustreet Properties is selling an Arby’s restaurant located on Rainbow Drive in Gadsden, AL for $2.04 million with a Cap rate of 6.5%. The 3,537 sq.ft. restaurant is situated on a land area of 37,918 sq.ft. Area retail includes the Gadsden Colonial Mall, which includes Belk, Sears, Premier Cinema, Taco Bell, Captain D’s, McDonald’s, Chick-fil-A, Logan’s Roadhouse, Subway, Waffle House and Ruby Tuesday. The company also has a portfolio of Wendy’s restaurants located throughout MI, OH, TN, VA and WV for sale with Cap rates ranging from 7% to 7.5%. The company is also selling Taco Bell restaurants located throughout OH with Cap rates ranging from 6.65% to 9%. The company also has a portfolio of Rally’s sites located in AR, IN, LA, MI and OH for sale with Cap rates ranging from 7% to 8.75%. The company is also selling Checkers restaurants located throughout FL and MI with Cap rates ranging from 6.85% to 7.5%. The company also has a portfolio of Captain D’s sites located in MS and TN for sale with Cap rates ranging from 7.2% to 7.3%. The company is also selling an Arby’s restaurant located on State Route 664 South in Logan, OH for $1.27 million with a Cap rate of 6.5%, as well as an Arby’s restaurant located on Towne Center Drive in Leechburg, PA for $1.39 million with a Cap rate of 6.5%. For more information, contact Trustreet Properties, 450 South Orange Avenue, Orlando, FL 32801; 407-540-2222, Fax 407-540-2044; Web site: www.trustreet1031.com. DJM Realty is selling the following K’s Merchandise properties throughout IA, IL, IN and MO: eight freestanding locations ranging from 79,431 sq.ft. to 110,386 sq.ft.; two anchor positions ranging from 75,600 sq.ft. to 77,529 sq.ft. and two vacant land parcels of 3.7 acres and 6.98 acres. For more information, contact Emilio Amendola, Jim Avallone or Lara Rycyk, DJM Realty, 445 Broadhollow Road, Suite 417, Melville, NY 11747; 631-752-1100, Fax 631-752-1231; Emails: eamendola@djmrealty.com and javallone@djmrealty.com; Web site: www.djmrealty.com.
EDEN Property Co., LLC is selling a 14,550 sq.ft. Walgreens pharmacy located in Howell, NJ, as well as an 11,600 sq.ft. Walgreens pharmacy located in Staten Island, NY. Both stores are slated to open next month. The company is looking to acquire parcels of one to 15 acres for retail development within a 200-mile radius of New York, NY and Pittsburgh, PA. For more information, contact Dennis Cieri or Ed Jaten, EDEN Property Co., LLC, 6 Park Avenue, Rutherford, NJ 07070; 201-804-7744, Fax 201-804-2707; Emails: dcieri@edenpropertycompany.com and ejaten@edenpropertycompany.com.
DLC Management Corp. has recently acquired nine shopping centers. The company is looking for additional acquisition opportunities in the Northeast, Midwest, Mid-Atlantic and Southeast markets. For more information, contact Daniel Taub or Guy Morris, DLC Management Corp., 580 White Plains Road, Tarrytown, NY 10591; 914-631-3131/914-406-7650, Fax 914-631-6533; Emails: dtaub@dlcmgmt.com or gmorris@dlcmgmt.com; Web site: www.dlcmgmt.com .
High Associates, Ltd. is selling a land area of 31.5 acres located at the intersection of 422 and Clear Spring in Annville, PA. Asking price is $4.5 million. For more information, contact Annette Cassel Means, High Associates, Ltd., 5000 Ritter Road, Suite 201, Mechanicsburg, PA 17055; 717-697-2422, Fax 717-697-0870; Email: ameans@high.net .
RPC Real Estate, LLC partnered with CMS Cos. to acquire Kings Highway Commerce Center, a 153,500 sq.ft. center located on Route 41 in Maple Shade, NJ. The center is currently 93% leased, with cotenants including Tuesday Morning, Condon & Skelly Insurance and Pasta Vino. Area demographics include a population of 78,108 within three miles earning $97,814 as the average household income. For more information, contact Jeffrey D. Hipple, RPC Real Estate, LLC, Short Hills Town Center, 486 Evesham Road, Suite 200, Cherry Hill, NJ 08003; 856-428-5750; Email: jhipple@rpcrealestate.com. NAI Pyramid Brokerage Co. is selling a commercial zoned parcel of 16 acres located on Investors Drive in Watertown, NY. The site is comprised of eight acres on both sides of the street. Asking price is $1.5 million. The company is also selling Freight Yard Plaza, a 5,550 sq.ft. mixed-use center located on Alexandria Street in Carthage, NY for $395,000. Area demographics include a population of 7,409 within three miles earning $45,243 as the average household income. For more information, contact Karen Carson, NAI Pyramid Brokerage Co., 11 Public Square, Watertown, NY 13601; 315-779-1196, Fax 315-779-1198; Email: kcarson@pyramidbrokerage.com; Web site: www.pyramidbrokerage.com.
Vanick Properties, Inc., with Hazbro Associates LP, acquired the Hazleton Shopping Plaza, an 84,000 sq.ft. center located in Hazleton, PA. Save-A-Lot anchors the center. Cotenants include Bank of America, Blockbuster Video and Rent-A-Center. The company, on behalf of its affiliate, Perstruo Realty, LLC, acquired three shopping centers from Acadia Realty Trust. The portfolio includes Greenridge Plaza, a 191,755 sq.ft. center located on Greenridge Street in Scranton, PA. Giant Foods and A.J. Wright anchor the center. Cotenants include Aaron’s Rentals, Fashion Bug, Dollar General, Payless Shoes and Curves. Luzerne Shopping Center is a 58,663 sq.ft. center located on Luzerne Street in Scranton, PA. Price Rite and Eckerd tenant the center. Pittston Plaza is a 79,494 sq.ft. center located on North Township Boulevard in Pittston, PA. Redner’s Market anchors the center. For more information, contact Jean-Claude Kaufman, Vanick Properties, 381 Broadway, Westwood, NJ 07675; 201-666-7710; Email: jc@vanickproperties.com.
Fidelity-AMG Realty Partners, LLC is looking to acquire grocery-anchored community and power centers, in addition to single-tenant retail sites and land suited for retail development throughout the Northeast, Mid-Atlantic states and FL. For more information, contact Fidelity-AMG Realty Partners, LLC, 641 Shunpike Road, Chatham, NJ 07928; 973-966-2800, Fax 973-966-6161; Web site: www.fidelityland.com.
Zar Property NY is seeking to acquire anchored shopping centers and enclosed malls nationwide. The company’s primary focus are value-added/redevelopment opportunities with a minimum GLA of 100,000 sq.ft. nationwide and a minimum GLA of 25,000 sq.ft. in NY. For more information, contact Zar Property NY, 49 West 37th Street, New York, NY 10018; 212-944-7979; Email: david@zarpropertyny.com.
Old Liberty Properties, Inc. recently acquired a 91,400 sq.ft. building, situated on a land area of 12.5 acres, located in Saco, ME for $5.02 million. The company also acquired 11 Haverty’s furniture stores, totaling approximately 612,130 sq.ft., throughout GA, KS, KY, SC, TX and VA for $51.2 million. The REIT acquires single-tenant net leased individual properties and portfolios with a minimum price of $5 million. Acquisitions of short-term leases, dark properties and non-investment grade credit tenants will also be considered. For more information, contact Patrick Callan, Jr. or Lawrence Ricketts, Jr., One Liberty Properties, Inc., 60 Cutter Mill Road, Suite 303, Great Neck, NY 11021; 516-773-2795; Emails: pcallan@1liberty.com and larryr@1liberty.com; Web site: www.onelibertyproperties.com.
Stephen Frank Associates, Inc. is seeking to acquire NNN single-tenant freestanding locations, malls, strip, power and outlet centers throughout FL, IL, IN, KY, MO, NJ, PA and TN. The company’s typical acquisitions are priced between for $1 million to $50 million. For more information, contact Sabina Holtzman, Stephen Frank Associates, Inc., 150 Carondelet Plaza, Suite 603, St. Louis, MO 63105; 305-812-2949, Fax 866-595-8359; Email: safrealty@aol.com.
TKO Real Estate Advisory Group, Inc. is selling the following properties: A 37,527 sq.ft. former Burlington Coat Factory store located on Kutztown Road in Reading, PA; East Town Shopping Center, with a GLA of 202,046 sq.ft., located in Birmingham, AL; Five Points Shopping Center located in Fairborn, OH with a Cap rate of 8.25% and three outparcles situated in front of a Kmart-anchored center located in Pittson, PA. For more information, contact Ted Kraus, TKO Real Estate Advisory Group, Inc., PO Box 2630, Mercerville, NJ 08690; 609-587-6200, Fax 609-587-3511; Email: ted@dealmakers.net; Web site: www.dealmakers.net.
NAI Real Vest negotiated the $2 million sale of a 3.75-acre site at Oveido Marketplace located on Red Bug Road in Maitland, FL. The seller was The Viera Co. The buyer, Orlando-based Realty Capital doing business as Shoppes of Oveido Marketplace, LLC, acquired the parcel. For more information, contact Paul P. Partyka or George Viele, NAI Real Vest; 407-875-9989.
Interstate Realty and Development is selling a 64,235 sq.ft. Food City-anchored center located in Bluefield, VA with a Cap rate of 7.75%. For more information, contact Adam Cross, Interstate Realty and Development, 2151 Volunteer Parkway, Bristol, TN 37620; 423-968-5971; Email: adam@ira-realty.com. Lamar Cos. acquired West Ashley Shoppes located at the intersection of Orleans Road and Sam Rittenburg Road in Charleston, SC. The 141,260 sq.ft. center is anchored by Bed Bath & Beyond, Ross Dress For Less, Cost Plus World Market and Music City Records. For more information, contact Dana Hawkins, Lamar Cos.; 610-730-1877; Email: danah@lamarco.com.
Excell Fund, LLC is selling a 9,240 sq.ft. Family Dollar site located on Schaefer Highway in Detroit, MI for $985,000 with a Cap rate of 8%. The store is situated on a land area of 35,600 sq.ft. Area demographics include a population of 73,149 within three miles earning $40,844 as the median household income. The site has an average daily traffic count of 20,000 vehicles. For more information, contact Kathy Ellman or Virgil Shouse, Excell Fund, LLC, 2 Steele Street, Denver, CO 80206; 303-320-6248/303-321-5372, Fax 303-377-6167; Emails: kathy@excellfund.com and virgil@excellfund.com.
United American Realty is selling a 200,000 sq.ft. center, as well as a 242,000 sq.ft. center located in central FL at a Cap rate of 5% to 6%. For more information, contact Ray Martin, United American Realty, 8302 Laurel Fair Circle, Suite 100, Tampa, FL 33610; 813-740-8992 Ext 202, Fax 813-740-8982; Email: rmartin@unitedamericanrealty.com.
Del Valle International, Inc. is selling a 59,000 sq.ft. parcel of land located in Hialeah, FL for $500,000. For more information, contact Del Valle International, Inc., 1000 Ponce de Leon Boulevard, Suite 332, Coral Gables, FL 33134; 305-642-9384; Email: investment@delvalle-international.com.
Unicorp National Developments, Inc. acquired Goodings Plaza located in Orlando, FL from BP-RP Universal, LLP for $22 million. The 82,026 sq.ft. center is situated on a land area of 11.77 acres and is cotenanted by Gooding’s Supermarket, Charley’s Steakhouse, The Crab House and Ripley’s Believe It of Not. Faris Lee Investments represented both the buyer and seller. For more information, contact Faris Lee Investments,
2301 Dupont Drive, Suite 100
Borden Equities is selling a land area 60,000 sq.ft. located on Route 17 in Newburgh, NY. The company also has several pads available for sale. For more information, contact Neal Borden, Borden Equities, 1 International Boulevard, Suite 400, Mahwah, NJ 07430; 201-512-8787, Fax 201-434-1471; Email: nborden@bordenequities.com; Web site: www.bordenequities.com. Real Estate Strategies, Inc. is selling a land area of 19 acres located on SR 50 in Clermont, FL for $6.5 million. Area retail includes Super Target. The company is also selling three outlots of the Crystal Creek Center located at the intersection of John Young Parkway and Crystal Creek Boulevard in Orlando, FL. The site has an average daily traffic count of 60,000 vehicles. Asking price for the 1.75-acre site is $1.6 million. Asking price for the 2.97-acre parcel is $2.85 million. Asking price for the 1.665-acre site is $750,000. The company is also selling three commercial parcels totaling eight acres located on U.S. 27 in Lake County, FL. The site has an average daily traffic count of 28,500 vehicles. Buyer can build 4,000 sq.ft. per acre. Asking price for the corner 2.465-acre parcel is $983,295. Asking price for the 2.342-acre location is $788,700. Asking price for the 3.48-acre site is $1.5 million. For more information, contact Susan Lawrence, Real Estate Strategies, Inc., 250 North Orange Avenue, Suite 1250, Orlando, FL 32801; 407-316-0200, Fax 407-206-0065; Email: slawrence@restrategies.net.
Commercial Retail Advisors, LLC brokered the sale of an OfficeMax Plaza to a joint venture company formed by its sister company, Commercial Retail Investors, LLC and Holualoa Arizona, Inc. The 82,000 sq.ft. center is located at the intersection of Oracle and Pastime Road in Tucson, AZ and is anchored by OfficeMax and Sleep America. The buyer was 3838 Oracle Plaza Joint Venture, LLC. For more information, contact Randy Finfrock or Craig Finfrock, Commercial Retail Advisors, LLC, 2990 North Campbell Avenue, Suite 230, Tucson, AZ 85719; 520-290-3200; Web site: www.cradvisorsllc.com.
National Retail Properties, Inc. is selling a 1.60-acre site ground leased to CVS and located on University Avenue Northeast in Fridley, MN for $2.69 million with a Cap rate of 5.75%. The company is also selling a Road Ranger in Freeport, IL. Asking price for the 36,638 sq.ft. parcel is $1.85 million with a Cap rate of 7.45%. The company is also selling a 17,136 sq.ft. Taco Bell/KFC restaurant located in Spencer, IN for $1.02 million with a Cap rate of 7%. The company is also selling a 40,000 sq.ft. parcel tenanted by Taco Bell restaurant in Washington, IN for $1.32 million with a Cap rate of 7.05%. The company is also selling a Taco Bell restaurant on a 36,000 sq.ft. parcel located in Robinson, IL for $1.65 million at a Cap rate of 7%. For more information, contact Diane Merritts, National Retail Properties, Inc., 450 South Orange Avenue, Suite 900, Orlando, FL 32801; 407-650-1240, Fax 321-206-2130; Web site: www.nnnreit.com.
Kudan Group, Inc. is selling a 20,000 sq.ft. center located in a western suburb of Chicago, IL for $3.8 million. The mixed-use project is situated on a land area of 83,515 sq.ft. The center contains six retail stores, four residential units and one restaurant. For more information, contact Marcus Sullivan or Jim Martin, Kudan Group, Inc., 1807 Glenview Road, Suite 205, Glenview, IL 60025; 847-724-7454, Fax 847-724-6447; Emails: marcus@kudangroup.com and jim@kudangroup.com; Web site: www.kudangroup.com.
Klarfeld Real Estate Co., Inc. is selling a Starbucks located in St. Louis, MO for $1.32 million with a Cap rate of 6.3%. For more information, contact Mishaal Taqui, Klarfeld Real Estate Co., Inc. 107 South Meramec, St. Louis, MO 63105; 314-721-7021, Fax 314-721-8188; Email: mtaqui@klarfeldre.com.
AMS Commercial is selling a 10,204 sq.ft. outparcel at the Edinburgh Premium Outlet Malls located at the intersection of I-65 and U.S. 31 in Edinburgh, IN for $695,000. For more information, contact Tim Smith, AMS Commercial; 812-376-8330 Ext. 101; Email: tim@ams83.com .
C&J Realty Group is selling a 15,000 sq.ft. neighborhood center located in Fort Worth, TX for $2.9 million. The center is situated on a land area of 1.7942 acres. For more information, contact Jody Jones, C&J Realty
Group; 972-740-2682, Fax 817-540-1569; Email: jody@jodyjones.us.
KMO Development Group, Inc. is selling a Popeyes restaurant located in Tulsa, OK for $1.46 million with a Cap rate of 8.25%. Area demographics include a population of 90,000 within three miles. The company is also selling a Popeyes restaurant located in Emporia, KS for $1.19 million with a Cap rate of 7.85%. For more information, contact Grant Stewart, KMO Development Group, Inc.; 918-743-3456, Fax 918-743-4084; Email: gstewart@kmodevelopment.com; Web site: www.kmodevelopment.com.
The Pocklington, Pocklington & Forster Retail Investment Group of GVA Advantis sold Buccaneer Plaza, a 21,636 sq.ft. center located on North 49th Street in Pinellas Park, FL for $2.51 million. The seller was 1031 Exchange Services 102, LLC and the buyer was P2F Fund, LLC. For more information, contact GVA Advantis, 255 South Orange Avenue, Suite 750, Orlando, FL 32801; 407-999-4775; Web site: www.gvaadvantis.com . The Azarian Group, LLC recently acquired Plaza K Shopping Center, located on Route 1 in Woodbridge, NJ. For more information, contact John M. Azarian, The Azarian Group, The Azarian Building, 6 Prospect Street, Suite 1B, Midland Park, NJ 07432; 201-444-7111 Ext. 27, Fax 201-444-6655; Email: jazarian@azariangroup.com; Web site: www.azariangroup.com.
American Retail Properties is selling a 61,000 sq.ft. Furniture World store located on South Broadway in Salem, NH for $6.5 million. Area retail includes Kmart, Staples, Marshalls, Circuit City, BJ’s Wholesale Club, Sears, JCPenney and Bed Bath & Beyond. The company is also selling a 103,785 sq.ft. Furniture World store located on Lowell Road in Salem, NH for $6 million. Area retail includes AC Moore, Market Basket, Linens ‘N Things, Best Buy, Macy’s, Target and Home Depot. The company is also selling a 150,000 sq.ft. Furniture World store located on South Porter Street in Manchester, NH for $20 million. Area retail includes Sam’s Club, Lowe’s Home Improvement, Burlington Coat Factory, Petco, Bob’s Stores, Wal*Mart, Stop & Shop and HomeGoods. Another Furniture World is for sale in Nashua, NH at an asking price of $10 million. For more information, contact David Nugent, American Retail Properties, 148 State Street, Suite 600, Boston, MA 02109; 617-778-6500, Fax 617-778-6533; Email: dnugent@americanrp.com; Web site: www.americanrp.com.
PM Realty Group brokered the sale of Friendswood Square located at the intersection of North Friendswood Drive and Edgewood Drive in Friendswood, TX. The 77,587 sq.ft. center is situated on a land area of 7.4 acres and is cotenanted by Walgreens, Dollar General, Whataburger and KoMan Furniture & Mattress. The company represented New Plan Excel Realty Trust in the sale. The company also brokered the sale of Ensenada Square, the Kroger-anchored center located on South Bowen Road in Arlington, TX for Tabani Group, Inc. The 62,676 sq.ft. center is situated on a land area of 5.5 acres. For more information, contact PM Realty Group,
1000 Main St., Suite 2400
Texas Business Vistas, Inc. is selling a land area of 19 acres located on Harmon Road in Fort Worth, TX for $1.75 million. Area retail includes Cabela’s. For more information, contact Frank Klein or Jim Klein, Texas Business Vistas, Inc.; 817-874-4807/214-803-2335, Fax 817-326-4900; Email: tbv1983@alltel.net. Partners Investment Properties is selling a 12-unit shopping center in Seekonk, MA for $3.02 million. The company is also selling a four-unit center in Brighton, MA for $2.65 million. The company is also selling an eight-unit, Dunkin’ Donuts-anchored center in Providence, RI for $1.35 million. For more information regarding the Seekonk, MA and Providence, RI centers, contact Joe Cawley, Partners Investment Properties; 617-877-0945. For more information regarding the Brighton, MA center, contact Tom Cawley; 617-780-1773; Web site: www.pipre.com.
ERS Investments is looking to acquire anchored shopping centers in major metropolitan markets throughout the eastern U.S. Preferred sites are anchored by a supermarket, discounter or a drug store. The company focuses on brownfields and redevelopment opportunities. For more information, contact ERS Investments, 34 East Main Street, Suite 295, Smithtown, NY 11787; 631-676-6360; Email: info@ersinvest.net.
Grubb & Ellis is selling a Haynes Furniture store located on South Orange Blossom Trail in Orlando, FL for $3.85 million. The 24,350 sq.ft. store has an average daily traffic count of 47,000 vehicles. Area demographics include a population of 43,761 within three miles earning $62,014 as the average household income. The company is also selling The Gardens, a lifestyle center located on Interstate 45 North in Houston, TX for $15.9 million with a Cap rate of 7.4%. The 58,500 sq.ft. center is situated on a land area of 9.84 acres and is anchored by Budget Car Rental, Wells Fargo, Marble Slab Creamery, Slick Willie’s and Taco Tote. The site has an average daily traffic count of 284,000 vehicles. Area retail includes Salt Grass Steakhouse, Joe’s Crab Shack, Zito’s Italian Restaurant, Lupe Tortilla and Mamacitas Mexican Restaurant. Area demographics include a population of 60,742 within three miles earning $52,886 as the average household income. The company is also selling West Oaks Shopping Center located at the intersection of Highway 6 and Park Hallow Drive in Houston, TX. The 13,484 sq.ft. center is situated on a land area of 1.02 acres and is anchored by Verizon Wireless and shadow-anchored by Office Depot, Conn’s and Burlington Coat Factory. The asking price is $3.91 million with a Cap rate of 7.4%. Area demographics include a population of 102,495 within three miles earning $70,867 as the average household income. The company negotiated the sale of a Checkers restaurant on North Mitchell Street in Cadillac, MI for $1.04 million. The 1,049 sq.ft. restaurant is situated on a land area of 0.9 acres. Marian Patricia Seller Trust was the buyer and Maple & Main Redevelopment, LLC was the seller. The company represented Gulf Coast Commercial Group in the sale of the 85,729 sq.ft.
Westgate Shopping Center located on Interstate 10 in Houston, TX. The center was acquired by Royal Investors Group, LLC. Cotenants include LA Fitness, Applebee’s, Panera Bread and Mattress Giant. The company represented a joint venture between Regency Centers and Macquarie CountryWide Trust in the sale of the 136,235 sq.ft. Westheimer Market Place Shopping Center, which has a dark anchor space leased to Randall’s Supermarket through 2018. NewQuest Properties acquired the center, located in Houston, TX. For more information, contact Michael Langman or Ray Hayhurst, Grubb & Ellis, 315 East Robinson Street, Suite 555, Orlando, FL 32801; 407-481-5381/5419; Email: mlangman@commercialfl.com. For more information regarding The Gardens Lifestyle Center and West Oaks Shopping Center, contact Gus N. Lopez or George Koucouthakis, Grubb & Ellis, 1330 Post Oak Boulevard, Suite 1400, Houston, TX 77056; 713-599-5123/5117, Fax 713-626-2288; Email: gus.lagos@grubb-ellis.com. For more information regarding the Cadillac, MI-based Checkers, contact Joe Rossi; 407-481-5394. For more information regarding Westgate Shopping Center and Westheimer Market Place Shopping Center, contact George Cushman; 713-599-5165; Email: george.cushing@grubb-ellis.com. Web sites: www.commercialfl.com and www.grubb-ellis.com.
Marcus & Millichap is selling phase two of Market Square located on Gray Highway in Macon, GA for $2.4 million with a Cap rate of 8.14%. The 22,075 sq.ft. center is shadow-anchored by a 98% leased 123,298 sq.ft. shopping center. The site has an average daily traffic count of 25,430 vehicles. Area demographics include a population of 76,000 within five miles. Area retail includes Wal*Mart. Cotenants include Sally Beauty Supply, Kool Smiles, Citi Financial, Hair Trends, World Communications, The Play House and Lynn’s Nails. The company is also selling Ashley Square located at the intersection of Lawrenceville Highway Northwest and Indian Trail Road in Lilburn, GA for $2.75 million with a Cap rate of 8.35%. The 30,525 sq.ft. center has an average daily traffic count of 39,000 vehicles. Area demographics include a trade-area population of 70,000 within three miles earning $78,999 as the average household income. Cotenants include Outback Steakhouse, Royal Manor Banquet Hall, Allstate and Tot & Jumy Hot Wings. The company is also selling Dublin Corners located on Hillcrest Parkway in Dublin, GA for $5.95 million with a Cap rate of 8.83%. The 104,326 sq.ft. center is cotenanted by Kmart, CC Beauty Mart, Inc., Hong Kong Restaurant and CK Nails. The company is also selling Williamsburg Shopping Center located on Washington Road in East Point, GA for $2 million with a Cap rate of 8.62%. The 41,200 sq.ft. center is situated on a land area of 3.82 acres and is cotenanted by Price Busters, Summit Health, Beauty Supplies, Demico and True Life Church. The company is also selling Troy Marketplace located at the intersection of U.S. Highway 231 and Franklin Drive in Troy, AL for $7 million with a Cap rate of 7.5%. The 139,355 sq.ft. center is cotenanted by Pic N’ Save, Citi Trends, Peebles, Fred’s, Burke’s Outlet, Merle Norman, Check Into Cash and Cato. Area retail includes Wal*Mart Supercenter and Lowe’s Home Improvement. The center is situated on a land area of 15 acres. The company is also selling a Bassett Furniture-anchored project located on Mall of Georgia Boulevard in Buford, GA for $5.5 million with a Cap rate of 7.83%. The 19,949 sq.ft. center is situated on a land area of 2.15 acres and is cotenanted by Cingular Wireless and Quiznos. Area retail includes Costco, Sam’s Club, Target, Best Buy, PetSmart, Michaels, Linens ‘N Things, Circuit City, Marshalls, hhgregg and Borders. The company is also selling Corner Lakes Plaza located on East Colonial Drive in Orlando, FL. The 77,260 sq.ft. center is situated on a land area of 9.04 acres and is cotenanted by Fantastic Sams, The UPS Store, Movie Gallery, Diamond Nails, White Cleaners and Twistee Treat. Publix and Tractor Supply anchor the center. The company is also selling Independence Promenade located on East Independence Boulevard in Charlotte, NC for $11.5 million with a Cap rate of 8.5%. The 90,281 sq.ft. center is situated on a land area of 7.09 acres and is cotenanted by Aarons Rents, Fred’s, Jackson Hewitt and Laser Quest. The site has an average daily traffic count of 62,000 vehicles. Area retail includes Harris Teeter, McDonald’s and T.G.I. Friday’s. The company is also selling Premier Plaza Shopping Center located on West Government Street in Brandon, MS for $1.7 million with a Cap rate of 8.25%. The 10,150 sq.ft. center is situated on a land area of one acre and is cotenanted by Hollywood Video, Yoko Japanese Restaurant, Advance America and Cellular South. Area retail includes Cato, Sally Beauty Supply, Jr. Misses, Dollar Tree, Cici’s Pizza and Cingular Wireless. The company is also selling Gardendale Exchange located on Odum Road in Gardendale, AL for $6.57 million with a Cap rate of 5.97%. The 21,517 sq.ft. center is situated on a land area of 8.5 acres and is cotenanted by AmSouth, Cingular Wireless, Sally Beauty Supply, Subway and Jackson Hewitt. The center is shadow-anchored by Wal*Mart Supercenter. The company is also selling Bloomingdale Commons located on Bloomingdale Avenue in Brandon, FL for $9.25 million with a Cap rate of 6.67%. The 27,575 sq.ft. center is situated on a land area of 4.8 acres and has an average daily traffic count of 50,000 vehicles. Cotenants include Olde Town Pizzaria, Carvel, Firehouse Subs, Gel-ee Bean Kids Salon, Apex Mortgage, Choice Realty, Pur Aesthetic Medical Spa and Pho Brandon Asian Cuisine. The company is also selling North Point Day Center located on North Point Parkway in Alpharetta, GA for $5.3 million with a Cap rate of 7.1%. The 22,000 sq.ft. center is situated on a land area of 3.23 acres and is cotenanted by Atlanta Great Foods, Inc., Nail Max & Pro Jewelry Repair, Hair Clips, Sushi Zutto and Saxby’s Coffee. The company is also selling Station West Shopping Center located on Columbia Road in Blakely, GA for $2.1 million with a Cap rate of 8.03%. The 81,600 sq.ft. center is situated on a land area of 8.738 acres and is cotenanted by Fred’s, Citi Trends, Hibbetts and Farmer’s Furniture. The company is also selling a Marathon-branded gas station located on Murphy Highway in Blairsville, GA for $2.25 million. The gas station is situated on a land area of one acre and has an average daily traffic count of 6,000 vehicles. The company is also selling The Pit Stop Center located on Highway 85 in Riverdale, GA for $2.3 million with a Cap rate of 8.95%. The 13,674 sq.ft. center is situated on a land area of 1.39 acres and is cotenanted by a laundromat, a barbershop and a Mexican restaurant. The company is also selling Merchant’s Court located on South Willow Avenue in Cookeville, TN for $2.97 million with a Cap rate of 7.46%. The 14,000 sq.ft. center is situated on a land area of 1.72 acres and is cotenanted by CiCi’s Pizza, Marble Slab Creamery, Raines Agency, Game Haven and Honeybaked Ham. The company is also selling an Edwin Watts Golf and Fast Signs anchored site located at the intersection of Cobb Parkway South and Franklin Road in Marietta, GA for $3.36 million with a Cap rate of 7.75%. The 25,725 sq.ft. center is situated on a land area of 1.479 acres and has an average daily traffic count of 75,780 vehicles. The company is also selling Pendley Hills Shopping Center located at the intersection of Covington Highway and Redan Road in Decatur, GA for $4.15 million with a Cap rate of 8.54%. The 67,724 sq.ft. center is situated on a land area of 8.44 acres and is cotenanted by a dollar store, Vega Express Laundromat, Kingston Meat Market and Georgia Department of Labor. Area demographics include a population of 104,838 within three miles. The company also sold an Arby’s restaurant located on Madison Avenue in Murrieta, CA. The 2,516 sq.ft. restaurant sold for $1.99 million with a Cap rate of 5.03%. A 2,800 sq.ft. Wendy’s restaurant located on Highway 111 in La Quinta, CA was sold for $1.92 million with a Cap rate of 5%. The company also sold a 2,000 sq.ft. Starbucks site located on Lenwood Road in Barstow, CA for $1.95 million with a Cap rate of 5.13%. The company is also selling the following properties: Creswell Plaza located in Opelousas, LA for $7.2 million with a Cap rate of 7.2%; Golden Eagle Plaza located in Donaldsonville, LA for $5.2 million with a Cap rate of 7.5%; Lafayette Plaza located in Lafayette, LA for $5 million with a Cap rate of 7.8% and Eastpointe Plaza located in Adrian, MI for $3.4 million with
a Cap rate of 7.9%. The company is selling Metro Cinema and Indigo Grill locations within the Town Center Colleyville located in Dallas, TX for $8.5 million with a Cap rate of 8.24%. For more information, contact Marcus & Millichap, 1100 Abernathy Road Northeast, Building 500, Suite 600, Atlanta, GA 30328; 770-393-1700, Fax 770-393-1738. For more information regarding the Murrieta, CA-based Arby’s; La Quinta, CA-based Wendy’s and the Barstow, CA-based Starbucks, contact Jennifer Jones, Marcus & Millichap, 3281 East Guasti Road, Suite 800, Ontario, CA 91761; 909-605-1800, Fax 909-605-1821; Email: jejones@marcusmillichap.com. For more information regarding Creswell Plaza, Golden Eagle Plaza, Lafayette Plaza and Eastpointe Plaza, contact John Riser or Adam Goldsmith at 317-218-5300/5322; Emails: jriser@marcusmillichap.com and agoldsmith@marcusmillichap.com. For more information regarding Metro Cinema and Indigo Grille, contact Richard I. Geisenfeld, Marcus & Millichap, 201 East 5th Street, Suite 2050, Cincinnati, OH 45202; 513-241-9002 or 937-367-6656, Fax 937-353-4073; Email: rgeisenfeld@marcusmillichap.com . Race Trac Real Estate has the following surplus properties for sale: A 6.47-acre property located at 5398 St. Stephens Road in Mobile, AL; a 0.94-acre property located at the intersection of Highway 231 and Bell Road in Montgomery, AL; a 1.13-acre property located on U.S. Highway 411 in Moody, AL; a 0.92-acre property located at the intersection of Interstate 20 and Highway 20 in Mooresville, AL; a 20.98-acre property located at the intersection of Interstate 65 and Highway 67 in Priceville, AL; a 1.47-acre property located at the intersection of Highway 75 North and Main Street in Rainsville, AL; a 0.43-acre property located at the intersection of Martin Luther King Jr. Boulevard and 9th Street in Tuscaloosa, AL; a 1.14-acre property located at the intersection of U.S. 17 and Darrell Lane in East Palatka, FL; a 0.46-acre property located on SR 60 West in Lake Wales, FL; a 1.46-acre property located at the intersection of County Line Road and U.S. Highway 92 in Lakeland, FL; a 3.681-acre property located at the intersection of Blanding Boulevard and Section Street in Middleburg, FL; a 1.12-acre property located on U.S. Highway 90 in Milton, FL; a 4.9-acre property located on Highway 87 in Milton, FL; a 1.55-acre property located on Kirkman Road in Orlando, FL; a 2.9-acre property located at the intersection of U.S. 41 and 18th Street in Palmetto, FL; a 1.085-acre property located at the intersection of U.S. 19 and Springhill Drive in Springhill, FL; a 0.67-acre property located on SR 16 in St. Augustine, FL; a 1.65-acre property located behind the Race Trac convenience store on SR 674 in Ruskin, FL; a 9.5-acre property located at the intersection of SR 50 and Deltona Boulevard in Weeki Wachee, FL; a 5.99-acre property located at the intersection of Highway 41/411 and Baker Road in Cartersville, GA; a 12-acre property located on Tara Boulevard in Jonesboro, GA; a 0.65-acre property located on Delk Road in Marietta, GA; a two-acre property located at the intersection of Highway 85 and Gardenwalk Boulevard in Riverdale, GA; a 1.02-acre property located on South Cobb Drive in Smyrna, GA; a 1.917-acre property located on U.S. Highway 41-Alt. in Hopkinsville, KY; a 3.86-acre property located on University Avenue in Hammond, LA; a 1.14-acre property located on U.S. Highway 80 in Brandon, MS; a 0.58-acre property located on Lenoir-Rhyne Boulevard in Hickory, NC; a 4.16-acre property located on Randolph Street in Thomasville, NC; a 0.47-acre property located on Dorchestor Road in Charleston, SC; a 1.18-acre property located on U.S. Highway 70 in Lebanon, TN; a 3.5-acre property located off of Garth Road near the San Jacinto Mall in Baytown, TX and a 0.53-acre property located at the intersection of Palmer Highway and 31st Street in Texas City, TX. For details, contact Race Trac Real Estate; 770-431-7600 Ext. 1112; Email: racetracrealestate@racetrac.com; Web site: www.racetracrealestate.com. |