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Buyers & Sellers
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Buyers & Sellers Aston Properties, Inc. acquired the following three centers in the Carolinas: New Market Square, a 124,545 sq.ft. center located in Burlington, NC anchored by Harris Teeter and T.J. Maxx; New Market Plaza, a 119,006 sq.ft. center located in Kernersville, NC anchored by Food Lion and Panera Bread and Market Place on Harden, a 72,105 sq.ft. center located in Columbia, SC anchored by Food Lion and Office Depot. For more information, contact Kevin M. Flynn, Aston Properties, Inc., 6525 Morrison Boulevard, Suite 300, Charlotte, NC 28211; 704-319-4923, Fax 704-366-7337.
Investment Real Estate Associates is looking to acquire anchored or unanchored centers located throughout FL for up to $30 million. For more information, contact Richard Zafrani, Investment Real Estate Associates, 1200 Brickell Avenue, Suite 800, Miami, FL 33131; 305-808-7950, Fax 305-808-7962; Email: rzafrani@irea-usa.com.
Robert Stuart Real Estate is selling a portfolio of convenience stores/gas stations throughout the southern U.S. with Cap rates ranging from 7.5% to 7.75%. Leases are absolute NNN and have a minimum of 15 years remaining on the initial terms. For more information, contact Bob Stuart, Robert Stuart Real Estate, 13064 Bender Drive, Moreno Valley, CA 92553; 951-247-2426; Email: rubobstu@verizon.net.
Tri-Peak, Inc. is selling a land area of two acres at the intersection of Interstate 395 and Route 16 in Webster, MA for $2 million. The property is level and has gas, water, sewer and is zoned commercial. For more information, contact Peter Krause, Tri-Peak, Inc., 24 Hartford Turnpike, Vernon, CT 06066; 860-205-1440, Fax 860-646-4895.
Marcus & Millichap Real Estate Investment Brokerage Co. sold South Pasadena Shopping Center, a 6,904 sq.ft. center located in South Pasadena, CA for $5.12 million. The property is 100% occupied and is tenanted by Starbucks, KFC, Oasis Beauty Retreat, Wells Fargo Bank and T-Mobile. The company’s Tampa, FL office is marketing Royal Oaks Plaza, a center located in Valrico, FL for $13.7 million. The center is located on Lithia Pinecrest Road and is situated on a land area of nine acres. Tenants include Lifestyle Family Fitness, Cora Health, Majik Touch Cleaners, Manhattan Beauty School, Panda Gardens, Raccoons, Video Games & Wireless and World Wine & Liquor. For more information, contact Marcus & Millichap Real Estate Investment Brokerage Co., 3281 East Guasti Road, Suite 800, Ontario, CA 91761; 909-605-1800, Fax 909-605-1832; Web site: www.marcusmillichap.com. For more information regarding Royal Oaks Plaza, contact Les Aron or Dave Goldstein, Marcus & Millichap Real Estate Investment Brokerage Co., 7650 Courtney Campbell Causeway, Suite 920, Tampa, FL 33607; 813-287-9777, Fax 813-287-1165.
Richard Jones Real Estate & Associates is representing a client looking to acquire NNN deals in GA, NC and SC within 300 miles of Greensboro, NC for up to $3 million. The client is looking for solid NNN deals only and principal or direct brokers only and lease terms with a minimum of 10 years. The client also will divide funds into two deals if needed. For more information, contact R.T. Hudgins, Richard Jones Real Estate & Associates, 2716-B Troxler Road, Burlington, NC 27215; 336-214-7676, Fax 336-343-4035.
National Commercial Brokers, Inc. is selling a 7,882 sq.ft. restaurant, plus adjacent land totaling 0.95 acres on the Hyannis Airport Rotary intersecting Route 28 and Route 132 in Hyannis, MA. Area retail includes Staples, T.J. Maxx, Pizzeria Uno, Stop & Shop and the Cape Cod Mall. For more information, contact Brian S. Nadler, National Commercial Brokers, Inc., 75 Second Avenue, Suite 315, Needham, MA 02494; 781-453-0360, Fax 781-453-0390; Email: brian@nationalcommercial.com; Web site: www.nationalcommercial.com.
Discovery Realty Advisors, Inc. is selling Verizon Wireless locations in NC and TN. The TN location is selling for $1.946 million with a Cap rate of 7.5% and rental increases every six to 10 years, while the NC location is selling for $2.003 million with a Cap rate of 7.5% with rental increases every six to 10 years. For more information, contact Ray D. Kreger, Discovery Realty Advisors, Inc., 621 NW 53rd Street, Suite 240, Boca Raton, FL 33487; 561-276-1031; Email: investments@discoveryrealty.com.
Frank Yekaitis Real Estate, LLC is selling a land area of two acres on North Caldwell in Hazelhurst, MS for $650,000 with a Cap rate of 9%. The center is currently 54% occupied. The company also is selling a land are of 15 acres on Greenview Street in Richland, MS for $2.75 psf. For more information, contact Frank Yekaitis, Frank Yekaitis Real Estate, LLC, PO Box 97133, Jackson, MS 39288-7133.
Hanley Brown Group Real Estate Advisors represented the seller in the sale of a 16,490 sq.ft. Leed’s Mattress Superstore located at the intersection of Beach Boulevard and Yorktown Avenue in Huntington Beach, CA for $4.6 million with a Cap rate of 6.3%. The seller was Team Construction. For more information, contact Eric P. Wohl, Hanley Brown Group Real Estate Advisors, 949-585-7610; Web site: www.hanleybrown.com.
CB Richard Ellis is selling Commercial Capital Bank, a 7,840 sq.ft. site located on West Manchester Avenue in Los Angeles, CA for $2.95 million. For more information, contact Katie DiCarlo, CB Richard Ellis, 990 West 190th Street, Suite 100, Torrance, CA 90502; 310-516-2308, Fax 310-516-2310; Email: kathryn.dicarlo@cbre.com.
Baum Realty Group, Inc. arranged the acquisition of Fountainbleu Court Shopping Center, a 38,546 sq.ft. center located on 183rd Street in Hazel Crest, IL for $5.4 million. The property was purchased by a private investor and sold by RMS Properties. The center is tenanted by Bank One, Radio Shack and Blockbuster Video. For more information, contact Baum Realty Group, Inc., 1030 West Chicago Avenue, Suite 300, Chicago, IL 60622; 312-666-3000, Fax 312-666-7970; Web site: www.baumrealty.com.
Hartwell Realty, Inc. is selling a 40-acre mixed-use site located on Highway 421 in Lillington, NC. The site is located across from the proposed 65-acre Good Hope Hospital Campus and Central Carolina Community College. The offering price is $62,500 per acre. For more information, contact Brenda Compton, Hartwell Realty, Inc., 1027 Highway 70 West, Suite 106, Hartwell Plaza, Garner, NC 27529; 919-772-0170, Fax 919-772-9274; Web site: www.chartwell.com.
DJM Asset Management is selling 11 Winn-Dixie outparcels in a bankruptcy sale. The stores are located throughout FL, GA and VA. Sites in FL include Hollywood, Leesburg, Live Oak, Miramar and three in Miami. There are three sites in Dallas, GA and one in Clarksville, VA. The sites range from 0.356 acres to 6.108 acres. For more information, contact James Avallone or Joe DiMitrio, DJM Asset Management, 445 Broadhollow Road, Suite 417, Melville, NY 11747; 631-752-1100 Ext. 224/227; Web site: www.djmasset.com.
Century 21 Access America is selling a 24,103 sq.ft. supermarket and package store located at the intersection of three Connecticut state highways in northern CT for $3.5 million. The site has an average daily traffic count of 12,000 vehicles. For more information, contact Donald Liberatore or Daniel Thibodeau, Century 21 Access America, 449 Silas Deane Highway, Wethersfield, CT 06109; 860-263-2121 Ext. 246, Fax 860-263-2135.
Faris Lee Investments sold County Fair Mall, a 400,000 sq.ft. mall located at the intersection of East Gibson and East Street in Woodland, CA for $15.1 million. The company represented the seller, Triple Net Properties. The center is situated on a land area of 35.23 acres and was 100% occupied at the time of the sale. Anchors include Gottschalks, Mervyns, Target and JCPenney. Cotenants include Foot Locker, Radio Shack, Citiwear, Pacific Sunwear, Washington Mutual and Cinemark Movie 5, as well as a variety of specialty stores and restaurants. For more information, contact Faris Lee Investments, 2301 Dupont Drive, Suite 100, Irvine, CA 92612; 949-221-1800, Fax 949-221-1830; Email: info@farislee.com; Web site: www.farislee.com.
Metro Commercial Real Estate, Inc. is selling the following Burger King locations: a 2,500 sq.ft. restaurant located in Pennsauken, NJ for $1.44 million with a Cap rate of 6.25% and a 2,520 sq.ft. restaurant located in Philadelphia, PA for $1.6 million with a Cap rate of 6.25%. For more information, contact Gregory Jones, Metro Commercial Real Estate, Inc., Eight Tower Bridge, 161 Washington Street, Suite 375, Conshohocken, PA 19428; 610-260-2673, Fax 610-825-5156; Email: gjones@metrocommercial.com.
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