|
Buyers & Sellers
|
|
|
Buyers & Sellers Asbury Properties, Inc. is selling a 6,331 sq.ft. Iconz Restaurant Bar and Grill located in Orange, CA. The one-story, single-tenant building is situated on a land area of 0.97 acres on North Tustin Street. The restaurant currently occupies the building, with a five-year lease that commenced in the beginning of this year. Asking rent is $2.80 psf NNN monthly, with annual three percent increases. Asking price is $3.27 million with a Cap rate of 6.5%. For more information, contact Stephanie Jackson, Asbury Properties, Inc., 6399 Wilshire Boulevard, Suite 1008, Los Angeles, CA 90048; 323-658-5443, Fax 323-658-5442; Email: asburyprop@sbcglobal.net .
Marcus & Millichap is selling a Walgreens for $4.5 million with a Cap rate of 6.85% in Canton, OH. Area demographics include a population of 150,000 within five miles earning $48,763 as the average household income. Marcus & Millichap-Ontario, CA Office sold Richie’s Real American Diner in Murrieta, CA. The 9,500 sq.ft. building is located on Murrieta Hot Springs Road and sold for $3.37 million with a Cap rate of 5.7%. The company also sold the 36,133 sq.ft. Shops at Pecos and Patrick, a four-tenant retail strip, for $4.5 million with a Cap rate of 6% at the intersection of Patrick Lane and Pecos Road in Las Vegas, NV. Marcus & Millichap-Ontario, CA Office also sold a 30,056 sq.ft. Arby’s Drive-Thru Restaurant located on Brookhurst Street in Huntington Beach, CA, for $2 million with a Cap rate of 4.83%. The company also sold an 856,938 sq.ft. Wal*Mart Super Center-anchored shopping center on South Pacific Avenue in Yuma, AZ for $14.9 million with a Cap rate of 6.23%. For more information, contact Adiel Brasov or Brian McKernan, Marcus & Millichap, 1401 17th Street, Suite 1100, Denver, CO 80202; 303-328-2048, Fax 303-308-9048; Emails: abrasov@marcusmillichap.com and bmckernan@marcusmillichap.com ; Web site: www.marcusmillichap.com . For more information regarding Richie’s Real American Diner, Shops at Pecos and Patrick, the Arby’s Drive-Thru and the Wal*Mart Supercenter, contact Jennifer Jones, Marcus & Millichap-Ontario Office, 3281 East Guasti Road, Suite 800, Ontario, CA 91761; 909-605-1800, Fax 909-605-1821; Email: jejones@marcusmillichap.com ; Web site: www.marcusmillichap.com .
Hoff Realtors is selling a restaurant located on Roosevelt Road in Glen Ellyn, IL for $1.6 million. The space can be redeveloped and is situated on a land area of 0.75 acres. For more information, contact Ron Stewart, Hoff Realtors, 708-870-2920; Email: run1ron@aol.com .
John Co. Strougo Realty Associates is seeking properties in CT, FL, NH, NJ and NY for $3 million to $5 million with a Cap rate of 6.75% to 7%. The company is interested in NNN single-tenant, freestanding Walgreens, CVS, Publix and Rite Aid with corporate-guaranteed leases. For more information, contact Louise Levy, John Co. Strougo Realty Associates, 350 Lexington Avenue, Suite 202, New York, NY 10016; 212-697-6500, Fax 212-949-9780; Email: jcsremgmt@aol.com .
Bosshardt Realty Services, Inc. is selling a Wal*Mart Supercenter outparcel situated on a land area of 1.37 acres in the Atlanta, GA area. The maximum building size of 14,000 sq.ft. The company also is selling a 26-acre development site located on Interstate 75 in northern FL for $4.5 million. For more information, contact John Thomas, Bosshardt Realty Services, Inc., 5542 NW 43rd Street, Gainesville, FL 32653; 352-538-4453, Fax 352-378-2737; Email: johnthomas@bosshardtrealty.com ; Web site: www.bosshardtrealty.com .
Kennedy Commercial is selling two 40,000 sq.ft. pads, or the remaining land area of 2.45 acres, at the intersection of Ann Road and North 5th Street in North Las Vegas, NV. Area retail will include a gas station, convenience store and a car wash to be built on the corner.
For more information,
contact Kennedy Commercial, 3230 South Buffalo Drive
Legend Properties, Inc. is selling a land area of 57 acres at the intersection of Perkintown Road and Straughns Mill Road in Pedricktown, NJ. Area demographics include a population of 21,847 within five miles earning $52,791 as the average household income. The company also is selling a 9,100 sq.ft. former CVS store located on East Clements Bridge Road in Runnemede, NJ for $1.4 million. For more information, contact Joseph Scarpa, Legend Properties, Inc., 20000 Horizon Way, Suite 280, Mount Laurel, NJ 08054; 856-231-1010, Fax 856-231-1111; Email: jscarpa@lpre.com ; Web site: www.lpre.com . For more information regarding the former CVS store in Runnemede, NJ, contact Doug Stewart, Legend Properties, Inc., 625 Ridge Pike, Suite A107, Conshohocken, PA 19428-1180; 856-231-1010; Email: dstewart@lpre.com ; Web site: www.lpre.com .
NAI Realvest is selling a Citgo Gas Station and Circle K Store on West U.S. Highway 83 in Weslaco, TX for $2.08 million with a Cap rate of 8%. The company is also selling a Citgo Gas Station and Circle K Store on South Staples Street in Corpus Christi, TX for $1.58 million. The 2,297 sq.ft. building is situated on a land area of 0.52 acres. Area retail includes Staples Padre Mall. The current tenant is on a 20-year lease expiring in December of 2025 with five, five-year options to renew.
For more information,
contact Mez Birdie, NAI Realvest, 2200 Lucien Way, Suite 350,
Griffin Properties is representing a client looking to acquire centers in Oakland County, MI, with a minimum of four tenants, for $2 million to $10 million with a Cap rate of at least 10%. For more information, contact Patrick Winter, Griffin Properties, 29433 Southfield Road, Suite 200, Southfield, MI 48076; 248-443-9000, Fax 248-443-9001; Email: pwinter@griffinproperties.com .
Trustreet Properties is selling a 2,770 sq.ft. Captain D’s restaurant located on Timberlake Road in Lynchburg, VA. The restaurant is situated on a land area of 26,641 sq.ft. The asking price is $823,457 with a Cap rate of 7%. The lease commenced in March and will expire in March of 2026 with four, five-year options. The company is also selling a 2,616 sq.ft. KFC located at the intersection of Delony Avenue and Fulton Street in Grand Rapids, MI. The restaurant is situated on a land area of 17,424 sq.ft. and the asking price is $1.15 million with a Cap rate of 9.5%. The leased commenced in February of 1991 and will expire in February of 2011 with two, five-year options. A 5,439 sq.ft. Chili’s restaurant located in Colombia, SC is being sold for $3.92 million with a Cap rate of 6.95%. The restaurant is situated on a land area of 65,412 sq.ft. The lease commenced in December of 2005 and will expire in December of 2025 with two, 10-year options. The company also is selling the following sites: a 5,967 sq.ft. Chili’s on North Kings Highway in Myrtle Beach, SC for $3.037 million with a Cap rate of 6.95%; a 1,670 sq.ft. Taco Bell located on High Street in Wadsworth, OH for $1.542 million with a Cap rate of 6.65%; a 2,250 sq.ft. Taco Bell located on 65th Street in Vancouver, WA for $2.619 million with a Cap rate of 6.50%; a 1,971 sq.ft. Taco Bell located on Tallmadge Circle in Tallmadge, OH for $1.54 million with a Cap rate of 6.65%; a 2,226 sq.ft. Taco Bell located on Graham Road in Stow, OH for $2.065 million with a Cap rate of 6.65%; a 1,670 sq.ft. Taco Bell located on Pearl Road in Parma, OH with a Cap rate of 9%; a 1,971 sq.ft. Taco Bell located on East Bagley Road in Middleburg Heights, OH for $1.712 million with a Cap rate of 6.65%; a 1,971 sq.ft. Taco Bell located on Center Road in Brunswick, OH for $1.778 million with a Cap rate of 6.65%; a 1,569 sq.ft. Taco Bell located on Romig Road in Akron, OH for $1.148 million with a Cap rate of 7%; and a 4,812 sq.ft. Kum & Go convenience store located on Highway 175 in Ellsworth, IA for $1.547 million with a Cap rate of 7%. 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 .
1031tax.com is selling a land area of 43.5 acres in Riverside County, CA for $15 million. The site is located near a 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 .
TKO Real Estate Advisory Group, Inc. is selling a 202,046 sq.ft. center anchored by Food Town, Rite Aid and Party City in Birmingham, AL. The center has space available of 103,000 sq.ft., which can be divided. Outparcels are also available. For more information, contact Ted Kraus, TKO Real Estate Advisory Group, Inc., PO Box 2630, Mercerville, NJ 08619; 609-587-6200, Fax 609-587-3511; Web site: www.dealmakers.net .
BCMT Properties, LLC is representing an investor looking to acquire centers throughout AZ, CA, Las Vegas, NV and TX, with a focus on CA for between $28 million and $200 million. The investor prefers centers that are new or newly renovated with major national tenant anchors, preferably supermarkets and a 7% Cap rate or better. For more information, contact Mayda L. Tress, BCMT Properties, LLC, PO Box 211266, Royal Palm Beach, FL 33421-1266; 561-339-1441, Fax 866-544-7163; Web site: www.bcmtproperties.com .
NDC Real Estate Management, Inc. is working with a 1031 buyer who is looking for either a net leased property or a group of net leased properties with a combined value of $7 million, with a Cap rate of 7% or higher and a lease with at least 15 years remaining. For more information, contact Mark Foster, NDC Real Estate Management, Inc., 1001 Third Avenue West, Suite 650, Bradenton, FL 34205; 941-745-1889 Ext. 127, Fax 941-747-7512; Email: mfoster@ndcrealestate.com ; Web site: www.ndcrealestate.com .
RCG Ventures, LLC is looking to acquire a strip center for $3 million to $5 million with a Cap rate of 8%. Preferred demographics include a population of at least 30,000. For more information, contact Kelli Jones, RCG Ventures, LLC, 2970 Peachtree Road, Suite 805, Atlanta, GA 30305; 404-816-5454, Fax 404-816-5445; Email: kellij@rcgventures.com ; Web site: www.rcgventures.com .
Sperry Van Ness is selling a 155,129 sq.ft. Burlington Coat Factory in Cleveland, OH for $4.59 million with a Cap rate of 9%. The store is located in a large mall, which must be redeveloped, and has six years remaining on the lease. The company is also selling a 13,500 sq.ft. Walgreens in Lakewood, CO for $3.85 million with a Cap rate of 7.14%. The company also is selling a 13,905 sq.ft. Walgreens in Rock Island, IL for $4.84 million with a Cap rate of 6.5%.
For more information,
contact Tom Vincent, Sperry Van Ness, 1803 Hicks Road
E.J. Schottenstein Real Estate, LLC is selling a land area of 104 acres on State Road 13 in Newton Township, OH. Area demographics include a population of 43,000 within five miles earning $43,000 as the average household income. The company is also selling a land area of 4.6 acres in Hilliard, OH. Area demographics include a population of 178,014 within five miles earning $58,294 as the average household income. For more information, contact Steve Master, E.J. Schottenstein Real Estate, LLC, 4016 Townsfair Way, Suite 202, Columbus, OH 43219; 614-428-6105, Fax 614-428-6149; Email: steven@ejschottenstein.com ; Web site: www.ejschottenstein.com .
Nassimi Realty Corp. is looking to acquire core investments such as retail properties with a minimum of 50,000 sq.ft. in NJ, NY and PA or 100,000 sq.ft. anywhere on the eastern half of the U.S. The properties must be located in major metro areas or secondary shopping destinations. Opportunities to enhance the income during the holding period are required. Deal sizes range from $2 million to $100 million. The company also is looking to acquire value-added and opportunistic investments for retail, industrial or multi-family sites, which offer potential that could result from repositioning the tenant mix, building expansion space for existing tenants or new tenants and/or building pad sites. Vacant buildings and non performing mortgages collateralized by the above property types would be considered. Deal sizes range from $500,000 to $50 million. For more information, contact Nassimi Realty Corp., 370 7th Avenue, Suite 1700, New York, NY 10001; 212-643-8080, Fax 212-643-2626; Email: acquisitions@nassimirealty.com ; Web site: www.nassimirealty.com .
Bomier Properties, Inc. has a former Krispy Kreme building available for sale or lease, with an asking price of either $22 psf NNN or $1.55 million. The 4,746 sq.ft. building, situated on a land area of 1.38 acres, is located at the intersection of Bluemound Drive and College Avenue in Appleton, WI. The building includes two restrooms, a small office area and a drive-thru window, along with approximately 1,500 sq.ft. of storage space with a 16-foot ceiling. Area demographics include a population of 59,338 within three miles earning $48,049 as the average household income. Area retail includes the Fox River Mall. For more information, contact Jason G. Gallmeier, Bomier Properties, Inc., 5553 Waterford Lane, Appleton, WI 54913-8402; 920-739-5300, Fax 920-739-7007; Email: jason@bomier.com ; Web site: www.bomier.com .
First2Close Financial Services, Corp. is representing a client looking to acquire a center in FL for $5 million to $7 million with a Cap rate of 8% and with well-known cotenants like Subway. For more information, contact Jeanette Pizarro, First2Close Financial Services, Corp., 9740 Eureka Drive, Miami, FL 33157; 305-252-3664, Fax 305-252-3994; Email: jpizarro@first2close.com ; Web site: www.first2close.com .
Acadia Realty Trust is looking to acquire income-producing retail and mixed-use properties either with stable cash flow or with moderate to high value-added potential for a minimum of $15 million. The company preferably would like to acquire portfolios. The properties should have a GLA of at least 100,000 sq.ft. with one or more credit anchor tenants on a long-term lease. Preferred locations are located in infill areas with populations greater than 100,000 anywhere in the eastern half of the U.S. For more information, contact Joel Braun, Brittany Bragg or Jeremy Bernard, Acadia Realty Trust, 1311 Mamaroneck Avenue, Suite 260, White Plains, NY 10605; 914-288-8100, Fax 914-428-2760.
The Fitzgerald Group is seeking vacant, large tracts throughout FL for multi-family and retail development, two to four acres of vacant land areas from Broward Country through Palm Beach County, FL and a vacant land area of at least 50 acres in Palm Beach County, FL for institutional, non-profit usage. For more information, contact Helene Reiber, The Fitzgerald Group, 951 Broken Sound Parkway, Suite 150, Boca Raton, FL 33487; 561-620-2800 Ext. 16, Fax 561-620-2810; Email: elegantexec@aol.com .
A private investor is looking to acquire NNN leases with corporate guarantees. The client will purchase one, but prefers a portfolio with a Cap rate of 6.75% and up. Preferred sites include retail, banks and restaurants with a minimum of 15 years left on the lease. For more information, contact Sheina Levin, 718-773-7130; Email: abbarealty@aol.com .
Car Tune USA, Inc. is looking to acquire small retail centers in the Midwest, with a focus on IN, KY and OH. The company prefers sites with high traffic counts. For more information, contact Bill Rosenbeck, Car Tune USA, Inc., 937-602-2727.
HSS Management Co. is selling a land area of 9.88 acres at the intersection of 18th Street and 30th Avenue in Kenosha, WI. Area retail includes Glenwood Crossings Plaza, which is anchored by Walgreens, Blockbuster Video and Pick N Save supermarket. Area demographics include a population of 105,916 within five miles earning $60,911 as the average household income. For more information, contact Michael Horne, HSS Management Co., 4801 West Golf Road, Suite 200, Skokie, IL 60077; 847-677-9100, Fax 847-677-9106.
Talon Development Group, Inc. is selling a land area of six acres, with a possible future phase II for a total of 13 acres, on Grand River Avenue in Brighton, MI. The site is planned for a mixed-use development with a neighborhood retail center and outlot opportunities for banks, a drug store, restaurants and retail. Area demographics include a population of 150,629 within 10 miles earning $94,686 as the average household income. The site has an average daily traffic count of 22,567 vehicles. The company also has entered into executed letters of intent and leases with The Learning Experience to develop, own and manage child care centers for both corporate and franchise operators throughout metropolitan Detroit, MI and is offering these facilities for sale both on a completed facility and pre-development basis. Six locations are individual, ground-up, full turnkey developments. The remaining two will be fully completed leased and occupied facilities. The main geographic focus for these developments is in western Wayne, Oakland and northwestern Macomb Counties. For more information, contact Cathy P. Wilson, Talon Development Group, Inc., 550 Hulet Drive, Suite 103, Bloomfield Hills, MI 48302; 248-745-3530; Email: cwilson@talondev.com .
BUYERS AND SELLERS (LEFTOVERS 7-21-06): Pan Pacific Retail Properties is looking to acquire centers throughout CA, OR, NV and WA, and will also consider portfolios in AZ, ID and UT. The company seeks to acquire neighborhood and community centers anchored by supermarkets or drug stores with a GLA of 65,000 sq.ft. and up. The company seeks stabilized market-dominant properties with supply-side restrictions and strong demographics and value-added opportunities offering potential near-term revenue enhancements that could result from repositioning the tenant mix, building expansion space for existing or new tenants and building out pads. For more information, contact Stuart A. Tanz, Pan Pacific Retail Properties, 1631-B South Melrose Drive, Vista, CA 92081; 760-727-1002, Fax 760-727-1430; Email: stanz@pprp.com ; Web site: www.pprp.com .
DRA Advisors, LLC is selling the following retail sites: Mount Pleasant Towne Center, a 450,000 sq.ft. center located in Charleston, SC. Anchors include Belk, Old Navy, Barnes & Noble, Bed Bath & Beyond, Earth Fare and Consolidated Theatre; Costco on Morena, a 410,000 sq.ft. center located in San Diego, CA. Anchors include Costco Wholesale, Price Self Storage and Charlotte Russe; Bigg’s Place, a 400,000 sq.ft. center located in Cincinnati, OH. Anchors include Bigg’s Hypermarket, Gold’s Gym and Hobby Lobby; Dearbrook Marketplace, a 330,000 sq.ft. center located in Humble, TX. Anchors include Best Buy, Marshall’s, Bed Bath & Beyond, Marshall’s, Sports Authority, OfficeMax, PetSmart and Old Navy; Eastchase Market, a 235,000 sq.ft. center located in Fort Worth, TX. Anchors include Ross Dress For Less, United Artists Theatre, PetSmart and Home Depot Floor Store; Maple Shade, a 200,000 sq.ft. center located in Moorestown, NJ. Anchors include Lowe’s Home Improvement, Sports Authority and Bally Total Fitness; The Shops at Kildeer, a 170,000 sq.ft. center located in Kildeer, IL. Anchors include Bed Bath & Beyond, Circuit City, Old Navy and World Market; and a CarMax portfolio with 12 sites in CA, FL, IL, MD, TN, TX and VA. For more information, contact Janine Roberts or Dean Sickles, DRA Advisors, LLC, 220 East 42nd Street, 27th Floor, New York, NY 10017; 212-697-4740; Emails: jroberts@draadvisors.com and dsickles@draadvisors.com ; Web site: www.draadvisors.com .
Next Realty Midwest, LLC brokered the acquisition of a 200-acre assemblage of land in five separate transactions for a value of $38 million. Located at the intersection of Boughton Road and Interstate 35 in Bolingbrook, IL, the land was acquired for the development of The Bolingbrook Promenade, a center that will be anchored by a Bass Pro Shop Outdoor World and Macy’s. The center will open next year. For more information, contact Next Realty Midwest, LLC, 400 Skokie Boulevard, Suite 800, Northbrook, IL 60062; 847-881-2000, Fax 847-881-2200; Email: info@nextrealty.com ; Web site: www.nextrealty.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 .
Commerce CRG is selling shop space at Riverton Meadows, a Lowe’s Home Improvement-anchored center located on South Bangerter Highway in Riverton, UT. Area demographics include a population of 85,141 within five miles earning $75,589 as the average household income. For more information, contact Tom Cook, Jake Fairclough or Tim Airmet, Commerce CRG, 175 East 400 South, Suite 700, Salt Lake City, UT 84111; 801-303-5488/5489/5567; Emails: tcook@commercecrg.com , jfairclough@commercecrg.com and tairmet@commercecrg.com ; Web site: www.commercecrg.com .
Excel Realty Holdings is looking to acquire power, regional community and neighborhood supermarket-anchored centers located in dominant retail corridors nationwide. The company prefers anchored centers with 70% to 75% national credit tenants, stabilized assets with long-term anchor leases, value-added assets with short term leases and strong sales, freestanding retail NNN lease properties with national credit tenants and individual or portfolio transactions. The company prefers that the anchor tenants occupy space greater than 10,000 sq.ft. For more information, contact Mark T. Burton, Excel Realty Holdings, 801 North 500 West, Suite 201, Bountiful, UT 84010; 801-294-2400, Fax 801-294-7479; Email: sfarnsworth@excelretalyholdings.com ; Web site: www.excelrealtyholdings.com .
Hilco Real Estate is selling a land area of 1.9 acres at the north east corner of Clear Lake Avenue and Dirksen Parkway in Springfield, IL for $2.2 million. The site has an average daily traffic count of 25,000 vehicles. The only improvement currently on the site is an approximately 3,300 sq.ft. former Hardee’s restaurant, which is being sold for $1.3 million. The company also is selling an undeveloped 0.38-acre lot located on West 79th Street in Chicago, IL for $700,000. The site has an average daily traffic count of 21,000 vehicles. Area retail includes Dunkin’ Donuts, Dominick’s, Subway, Chase and Hostess Bakery Outlet. Taco Bell Corporate has a ground lease in place with nine years remaining. Annual rent is currently $43,560 and increases to approximately $48,000 in August 2010 for the remainder of the primary lease term. The tenant has an interest in buying out the remainder of the lease obligation. The company also is selling two former Hardee’s restaurants in Montgomery, AL. The properties are located on Day Street and Norman Bridge Road. Each building is approximately 3,500 sq.ft. and is situated on a land area of 1.6 acres. The Day Street property is being sold for $195,000 with an asking rent of $10 psf, while the Norman Bridge Road site is being sold for $195,000 with an asking net rent of $10 psf. For more information, contact Matt Darin or Josh Joseph, Hilco Real Estate, One Northbrook Place, Five Revere Drive, Suite 320; 847-504-2456 or 847-504-2459; Emails: mdarin@hilcorealestate.com and jjoseph@hilcorealestate.com ; Web site: www.hilcorealestate.com .
Antonoff & Co. Brokerage, Inc. is selling an 8,765 sq.ft. center located on East Street in Golden, CO for $1.3 million with a Cap rate of 7.23%. The center is situated on a land area of 0.46 acres and has a net operating income of $93,985. The company also is selling Parker Pointe, a 19,969 sq.ft. center located on East Mississippi in Araphoe County, CO for $2.95 million with a Cap rate of 7.13%. The center is situated on a land area of 1.563 acres and has a net operating income of $210,281. The company also is selling a 25,000 sq.ft. pad site located at the intersection of Sable Boulevard and Bromley Lane in Brighton, CO. The site has an average daily traffic count of 40,500 vehicles. Cotenants include King Sooper’s, Blockbuster Video, Starbucks, Papa Murphy’s, Domino’s and Subway. Area demographics include a population of 37,340 within five miles earning $70,853 as the average household income. For more information, contact Steve Sebern or Gene Stone, Antonoff & Co. Brokerage, Inc., 1528 Wazee Street, Denver, CO 80202; 303-623-0200, Fax 303-454-5400; Emails: ssebern@antonoff.com and gstone@antonoff.com ; Web site: www.antonoff.com . For more information regarding the site in Brighton, CO, contact Jeffrey Hirschfeld or Eli Boymel; Emails: jhirschfeld@antonoff.com and eboymel@antonoff.com .
McCollom Realty, Ltd. is selling a land area of 2.05 acres on South Miller Park Way in West Milwaukee, WI. Area retail includes T.G.I. Friday’s, Target, Chili’s, Culvers, IHOP and Boston Market. Area demographics include a population of 228,551 within three miles. The site is located four blocks from Miller Park Stadium. For more information, contact McCollom Realty, Ltd., 1010 Lake Street, Oak Park, IL 60301; 708-383-6450, Fax 708-383-1120; Web Site: www.mccollomrealty.com .
Staubach Retail is selling Las Colinas Plaza, a 134,953 sq.ft. center located at the intersection of Byron Nelson Way and MacArthur Boulevard in Las Colinas, TX. The center is anchored by a 53,275 sq.ft. Tom Thumb flagship supermarket and is adjacent to the Four Seasons Resort & Club Dallas. The center is currently 95.12% occupied. For more information, contact Ken Shulman, John Hammill or Alan Gore, Staubach Retail, 15601 Dallas Parkway, Suite 400, Addison, TX 75001; 972-361-5078/5109/5316; Emails: ken.shulman@staubach.com , john.hammill@staubach.com and alan.gore@staubach.com ; Web site: www.staubach.com .
CB Richard Ellis, Inc. is selling a 3,333 sq.ft. Wendy’s restaurant on North Pepper Avenue in Colton, CA for $1.27 million with a Cap rate of 5.32%. CB Richard Ellis/Urban Retail Group is selling a land area of 6.28 acres on Highway 20 directly in front of a Wal*Mart in Galena, IL for $3.3 million. CB Richard Ellis is selling the following sites in FL: a land area of four acres on State Route 417 in Sanford for $2 million and a land area of 18.20 acres at the intersection of Interstate 95 and Route 1 in Ormond Beach. The company’s Oak Brook, IL office is selling The Shops at Kildeer, a 167,477 sq.ft. center located at the intersection of Rand Road and Long Grove Road in Kildeer, IL. Anchors include Bed Bath & Beyond, Circuit City, Old Navy and World Market. The center is currently 100% occupied. Area demographics include a population of 64,669 within three miles earning $108,346 as the average household income. CB Richard Ellis/Melody Capital Markets is selling Eastchase Market, a 235,017 sq.ft. center located at the intersection of Eastchase Parkway and Interstate 30 in Fort Worth, TX. The center is situated on a land area of 28.92 acres, is currently 63% occupied and has a projected net operating income of $2,947,553. Anchors include Target and Office Depot, which are both separately owned, Ross Dress For Less, PetSmart, United Artists Movie Theater and The Home Depot Floor Store. Area demographics include a population of 495,706 within seven miles earning $59,436 as the average household income. The site has an average daily traffic count of 141,345 vehicles. The company’s Covington, LA office is selling Stirling Slidell Centre, a 339,529 sq.ft. center located at the intersection of Airport Road and Interstate 12 in Slidell, LA. The site has an average daily traffic count of 73,475 vehicles. Anchors include Circuit City, Dress Barn, Ross Dress For Less, Shoe Carnival, PetSmart, David’s Bridal, Cingular Wireless and Catherine’s. Area demographics include a population of 53,213 within five miles earning $59,508 as the average household income. For more information, contact Patrick Toomey, Philip D. Voorhees and Holly Hamilton, CB Richard Ellis, Inc., 3501 Jamboree Road, Suite 100, Newport Beach, CA 92660; 949-725-8452, Fax 949-725-8545; Emails: patrick.tommey@cbre.com , phil.vorhees@cbre.com and holly.hamilton@cbre.com . For more information regarding the site in Galena, IL contact Keely Polczynski, CB Richard Ellis/Urban Retail Group, 311 South Wacker Drive, Suite 400, Chicago, IL 60606; 312-861-7870, Fax 312-935-1880; Email: keely.polczynski@cbre.com ; Web site: www.cbre.com/kpolczynski . For more information regarding the FL properties, contact Bobby Palta, CB Richard Ellis, 201 South Orange Avenue, Suite 1500, Orlando, FL 22801; 407-839-3124, Fax 407-839-2171; Email: bobby.palta@cbre.com ; Web site: www.cbre.com/bobby.palta . For more information regarding The Shops at Kildeer, contact Robert J. Mahoney, George B. Good or Richard A. Frolik, CB Richard Ellis, 700 Commerce Drive, Suite 550, Oak Brook, IL 60523; 630-573-7011/7010/7012. For more information regarding Eastchase Market, contact Doug Hazelbaker or Ryan Shore, CB Richard Ellis/Melody Capital Markets, 5430 LBJ Freeway, Suite 1100, Dallas, TX 75240; 972-458-4833/5266; Emails: doug.hazelbaker@cbre.com and ryan.shore@cbre.com .
Bows Real Estate is selling a 15,000 sq.ft. outparcel shadow-anchored by a 150,000 sq.ft. Wal*Mart Supercenter in Dayton, TN for $1.972 million. The company also is selling a land area of 5.75-acres at the intersection of Interstate 75 and Wade Green Road in Cobb County, GA for $1.2 million. For more information, contact Lamar Fields, Bows Real Estate, PO Box 52225, Atlanta, GA 30355; 404-812-6801; Email: plfields54@yahoo.com . For more information regarding the site in Cobb County, GA, contact David Bows at 404-842-1677.
Anderson Commercial Brokerage is selling outparcels located on Team Boulevard in Smyrna, TN. The site is located adjacent to Roxy’s 14-screen movie theater. The sites range in size from 0.82 acres to 1.25 acres. For more information, contact Rita Anderson, Anderson Commercial Brokerage, 2442 North Mt. Juliet Road, Mt. Juliet, TN 37122; 615-754-2442, Fax 615-758-8012; Email: acbdealmkr@comcast.net .
Colliers Arnold is selling a land area of 0.49 acres at the intersection of Martin Luther King Boulevard and Pine Street in Seffner, FL for $195,000. The site is located adjacent to the GTE Federal Credit Union and has an average daily traffic count of 34,000 vehicles. Area demographics include a population of 111,530 within five miles earning $56,180 as the average household income. For more information, contact Thomas G. Chamblee, Colliers Arnold, 4350 West Cypress Street, Suite 300, Tampa, FL 33607-4175; 813-221-2290; Email: tchamblee@colliersarnold.com ; Web site: www.colliersarnold.com .
Holliday Fenoglio Fowler, L.P. is selling Deerbrook Marketplace, a 328,726 sq.ft. center located at the intersectio of U.S. Highway 59 and FM 1960 in Humble, TX. The center is situated on a land area of 36.27 acres and is currently 97% occupied. Anchors include Sports Authority, Best Buy, Bed Bath & Beyond, Marshall’s, OfficeMax, PetSmart and Old Navy. The site has an average daily traffic count of 152,000 vehicles. Area demographics include a population of 382,047 within 10 miles earning $67,148 as the average household income. For more information, contact Barry Brown, Holliday Fenoglio Fowler, L.P., 8401 North Central Expressway, Suite 400, Dallas, TX 75225; 214-265-0880, Fax 214-265-9564; Web site: www.hfflp.com .
Sealy & Dickson, L.L.C. is selling a 29,570 sq.ft. anchor position at Longview Mall, a 609,000 sq.ft. mall located on McCann Road in Longview, TX. The center is anchored by Dillard’s, JCPenney, Sears and Beals. Area demographics include a population of 73,825 within five miles earning $60,409 as the average household income. The site has an average daily traffic count of 57,444 vehicles. For more information, contact Melissa Riddick, Sealy & Dickson, L.L.C., 333 Texa Street, Suite 1050, Shreveport, LA 71101; 318-222-8700; Email: melissar@sealynet.com ; Web site: www.sealynet.com .
NAI Capital is selling an Arco am/pm convenience store/gas station located at the intersection of Main Street and Interstate 10 in Cabazon, CA for $2.9 million. For more information, contact Mainor Bojorquez, NAI Capital, 949-937-4062; Email: mainorb@naicapital.com .
GMH Capital Partners is selling a land area of 79.5 acres on Millstone Road in East Windsor, NJ. The maximum building area is approximately 865,000 sq.ft. For more information, contact David Forrest or Randall Calvert, GMH Capital Partners, 10 Campus Boulevard, Newtown Square, PA 19073; 610-355-8233/8259, Fax 610-355-8533/8559; Emails: dforrest@gmh-inc.com and rcalvert@gmh-inc.com ; Web site: www.gmhcp.com .
Burnham Real Estate is selling Costco on Morena, a 411,375 sq.ft. center located on Morena Boulevard in San Diego, CA. The center is situated on a land area of 26.82 acres. For more information, contact Peter D. Bethea, Burnham Real Estate, 858-452-6500; Email: bethea@burnhamrealestate.com .
NAI Ohio Equities is selling an 8,125 sq.ft. Goddard School located in Lake In The Hills, IL for $2.375 million. The building is situated on a land area of 1.06 acres. For more information, contact Michael Zelnik, NAI Ohio Equities, 614-629-5280, Cell phone 614-309-3288; Email: mike@44ohio.com .
NAI BT Commercial is selling a Sportsman’s Warehouse store located in Las Cruces, NM for $7.947 million with a Cap rate of 7.25%. The store has a new, 15-year NNN lease with fixed rental increases. For more information, contact Michael Maffia, NAI BT Commercial, 415-677-0478, Fax 415-956-3381; Email: pdaily@naibtcommercial.com .
Thessing Commercial Properties, LLC is selling Wal*Mart Supercenter shadow-anchored centers in OK and TX. For more information, contact Brad Thessing, Thessing Commercial Properties, LLC, 8410 Interlochen Drive, Fremont Hills, MO 65714; 417-860-7449, Fax 866-395-5054; Email: bthessing@tcpllc.org .
Hanley Brown Group Real Estate Advisors is selling a Washington Mutual store in Apple Valley, CA for $2.311 million with a Cap rate of 5%. The site has a 10-year NNN lease with four, five-year options and 12.5% fixed rental increases every five years. The company also represented both buyer and seller in the sale of Desert Inn Pecos Center, a 48,172 sq.ft. center located at the intersection of East Desert Inn Road and Pecos-McLeod Drive in Las Vegas, NV for $11.44 million with a Cap rate of 6.6%. The center is situated on a land area of 3.36 acres. Tenants include Family Dollar, Nevada Career Institute and Ace Cash Express. For more information, contact Edward B. Hanley, Hanley Brown Group Real Estate Advisors, 2569 McCabe Way, Suite 100, Irvine, CA 92614; 949-585-7677, Fax 949-585-7611; Email: edward.hanley@hanleybrown.com ; Web site: www.hanleybrown.com .
Linda Stancil-Redner and Associates is selling a land area of 2.967 acres at the intersection of Long Branch Extension and Coppermine in Dahlonega, GA for $250,000. For more information, contact Linda Stancil-Redner, Linda Stancil-Redner and Associates, 33 Live Oak Road, Suite A, Dahlonega, GA 30533; 706-867-0107, Fax 706-867-0245; Web site: www.lindastancilredner.com .
Grubb & Ellis/Quantum Commercial Group is selling Gateway Center in Montrose, CO for $12.4 million. The 900,000 sq.ft. center is located at the intersection of Colorado State Highway 50 and Miami Road and is situated on a land area of 110 acres. Grubb & Ellis/Idaho Commercial Group is selling a 36,764 sq.ft. retail or office development located at the intersection of Emerald Street and Benjamin Lane in Boise, ID for $325,000. Area demographics include a population of 98,728 within three miles earning $47,959 as the average household income. Area retail includes Cabelas, Office Depot, Best Buy, Ross Dress For Less, Old Navy, Circuit City, Target, David’s Bridal, Golden Corral, Big 5 Sports, Lens Crafters, T.G.I. Friday’s and the Boise Town Square Mall. For more information about Gateway Center, contact Candace Seaton or Hermann J. Spielkamp, Grubb & Ellis/Quantum Commercial Group, 101 North Cascade Avenue, Suite 200, Colorado Springs, CO 80903; 719-228-3624 for Candace Seaton, 719-228-3612 for Hermann J. Spielkamp, Fax 719-634-0404; Emails: candace.seaton@grubb-ellis.com and hermann.spielkamp@grubb-ellis.com ; Web site: www.quantumcommgrp.com . For information about Emerald and Benjamin, contact Josh Wester of David Nielsen, Grubb & Ellis/Idaho Commercial Group, 533 East Riverside Drive, Suite 100, Eagle, ID 83616; 208-287-9487 for Josh Wester, 208-287-9483 for David Nielsen, Fax 208-287-9501; Emails: josh.wester@grubb-ellis.com and david.nielsen@grubb-ellis.com ; Web site: www.idahocg.com .
ONO Commercial Partners is representing a client looking to acquire single-tenant properties and power centers nationwide from $4 million to $20 million. The client prefers tenant credit of B or better and a lease term of six years or longer. The company also is selling a 9,014 sq.ft. Dollar General store located on Airline Drive in Bossier City, LA. The store has a lease term of 10 years with five, five-year options. The company also is selling Fortune Plaza, a 20,300 sq.ft. center located in Youngsville, LA. The center has a Cap rate of 8.25% and a net operating income of $219,135. For more information, contact John D. Murphy, ONO Commercial Properties, 251-968-3585, Fax 251-968-8989; Email: jdmurphy@smartresort.com .
Millco Investments is selling a 7,000 sq.ft. Advance Auto Parts store located at the intersection of 43rd and Hempstead in Houston, TX for $1.938 million with a Cap rate of 6.5%. The building is situated on a land area of one acre. The site has a 15-year NNN lease with a 20% rent increase in year 11 and a net operating income of $126,000. The company also is selling a 9,180 sq.ft. Family Dollar store located at the intersection of Telephone Road and Covern Street in Houston, TX for $1 million with a Cap rate of 7.5%. The site has a net operating income of $75,000. For more information, contact Jordan J. Kaufman, Millco Investments, 19 South LaSalle Street, Suite 1000, Chicago, IL 60603; 312-377-7800 Ext. 103, Fax 312-377-7898; Email: jordan@millcoinvestments.com .
TriMax Properties is selling a Circle K store located in Mesa, AZ. The store has 17 years remaining on its lease with increases every five years. The building is situated on a lot of 34,761 sq.ft. For more information, contact Michael Linzey, TriMax Properties, 818-501-8059, Fax 818-501-1816; Email: michael@trimaxproperties.biz .
Lang Realty is representing a client looking to acquire upscale retail buildings and shopping centers in southern FL. The client has a budget in excess of $15 million. For more information, contact Peter Kernan, Lang Realty, 6271 PGA Boulevard, Palm Beach Gardens, FL 33418; 561-776-1850, Fax 561-626-5572; Email: petekernan@earthlink.net .
Arroyo & Coates is selling a Walgreens store, on behalf of Sansome Pacific Properties, Inc., in Pasadena, CA for $8.975 million. The property is located at the intersection of North Lake and Orange Grove. Area demographics include a population of 181,643 within three miles earning $95,752 as the average household income. For more information, contact Paul Souza, Arroyo & Coates, 500 Washington Street, Suite 700, San Francisco, CA 94111; 415-445-7800 Ext. 184, Fax 415-723-7700; Email: psouza@a-c.com .
Equity Retail Brokers sold a 13,800 sq.ft. Eckerd/Brooks pharmacy located on Aramingo Avenue in Philadelphia County, PA for $5.65 million to 75 Hawthorne Realty, LLC. The tenant will continue to operate the property, which includes a drive-thru service window. For more information, contact Equity Retail Brokers, 101 West Elm Street, Suite 370, Conshohocken, PA 19428; 610-645-7000, Fax 610-645-5454; Web site: www.equityretailbrokers.com .
NewBridge Retail Advisors 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 T. Saykaly, NewBridge Retail Advisors, Royal Centre One, 11675 Great Oaks Way, Suite 135, Alpharetta, GA 30022; 678-802-6500, Fax 678-802-6588.
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 .
Gannaway & Associates, LLC is looking to acquire centers in NC with Cap rates at 9% or more. The company prefers no single-tenant deals and no daisy chains. For more information, contact Denise and Mike Tayyeb, Gannaway & Associates, LLC, 589 Bedford Street, Stamford, CT 06901; 203-252-2200.
National Retail Properties, Inc. is selling a CVS drug store located in Fridley, MN for $2.695 million with a Cap rate of 5.75%. The annual rent is $155,000. The store has a new 25-year lease. For more information, contact Rebecca Gittens, National Retail Properties, Inc., 450 South Orange Avenue, Suite 900, Orlando, FL 32801; 407-650-1253, Fax 407-650-1046; Web site: www.nnn1031.com .
Mike Rivera & Associates, LLC is selling a 30,000 sq.ft. strip center located on U.S. 41 in north Naples, FL for $15 million with a Cap rate of 6.4%. The center is currently 100% occupied and has a net operating income of $906,404. The site has an escalation of 4% plus per term. For more information, contact Michael A. Rivera, Mike Rivera & Associates, LLC, PO Box 73, Estero, FL 33919; 239-770-6257, Fax 239-495-2066; Email: invest@e-realtyinfo.com .
CRG Realty is selling a 200-acre commercial development site located contiguous to the new amusement and theme park development site in Bonifay, FL. The site is located a the intersection of Thomas Drive and Highway 79 and is selling for $155,000 per acre. The site is near the Jim Fowler Wildlife Park and will sit at the front to the three parks, including the amphitheatre, wildlife park and amusement park. For more information, contact Nan Gile, CRG Realty, 205 Azalea Street, Panama City Beach, FL 32407; 850-249-8555 or cell 850-960-7355, Fax 850-249-9988; Email: nangile@knology.net .
Block & Co., Inc. brokered the sale of the space located on East Central Street in Wichita, KS between ARIA Enterprises and buyer Crescent Oil Company. The company also brokered the sale for the space located on South Noland Road in Kansas City, MO between private investors and buyer Corridor Properties, LLC. For information, contact Monique Scritchfield, Block & Co., Inc., 605 West 47th Street, Suite 200, Kansas City, MO 64112; 816-753-6000, Fax 816-412-7401; Web site: www.blockandco.com .
KMO Development Group, Inc. is selling the following sites: a Houlihan’s restaurant in Algonquin, IL with a 15-year lease for $2.676 million with a Cap rate of 9%; a Boston’s Gourmet Pizza restaurant with a 20-year lease in Mill Creek, VA for $2.984 million with a Cap rate of 9%; an R.J. Gator’s restaurant in Jacksonville, FL with a 20-year lease for $3.748 million with a Cap rate of 8.50%; a Boston’s Gourmet Pizza restaurant in Evansville, IN with a 20-year lease for $3.52 million with a Cap rate of 8.25%; a retail center located in Clovis, NM for $2.808 million with a Cap rate of 8.25% and a Back Yard Burgers restaurant located in Springfield, MO with a 20-year lease for $2.25 million with a Cap rate of 8%. 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 .
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 .
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 .
|