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Buyers & Sellers
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Buyers & Sellers Cambridge Investors is looking to acquire strip and power centers throughout the Midwest, Southeast and West for between $3 million and $50 million. For more information, contact David Rubin, Cambridge Investors, 31000 Northwestern Highway, Suite 220, Farmington Hills, MI 48334; 248-538-9898, Fax 248-538-1583; Email: drubin@cambridgeinvestors.com; Web site: www.cambridgeinvestors.com.
Stan Johnson Co. is selling a 10,880 sq.ft. CVS store located at the intersection of U.S. 19 and Moog Road in Holiday, FL for $3.712 million. For more information, contact Jeff Matulis, Stan Johnson Co., Two Warren Place, 6120 South Yale Avenue, Suite 813, Tulsa, OK 74136; 918-494-2690, Fax 918-494-2692; Email: info@stanjohnsonco.com; Web site: www.stanjohnsonco.com.
Aztec Group, Inc. acquired Jacks’ Suniland Center, a 15,000 sq.ft. center located in Pinecrest, FL for $4.475 million. The center is anchored by a bank and is situated on a land area of one acre. For more information, contact Jason Shapiro, Aztec Group, Inc., 2665 South Bayshore Drive, PH-2A, Miami, FL 33133; 305-854-5000, Fax 305-854-9795; Email: info@aztecgroup.com; Web site: www.aztecgroup.com.
Calkain Realty Advisors is representing a 1031 exchange client looking to acquire NNN properties with the following criteria: locations in the southeastern U.S., with an emphasis on FL, for between $2.5 million and $3.5 million with a Cap rate of 6.5% or greater. The lease terms must be greater than 10 years. For more information, contact David Sobelman, Calkain Realty Advisors, 11150 Sunset Hills Road, Suite 310, Reston, VA 20190; 703-787-4714, Fax 703-787-4783; Email: dsobelman@calkain.com; Web site: www.calkain.com.
Quine & Associates, Inc. is selling a Family Dollar/Auto Zone store located in Dallas, TX for $1.5 million with a Cap rate of 9%. For more information, contact Douglas Wilder, Quine & Associates, Inc., 301 South Sherman, Suite 100, Richardson, TX 75081; 972-669-8440 Ext. 242, Fax 972-783-8901; Email: dwilder@quine.com.
Coldwell Banker Commercial Mountain West Real Estate, LLC is selling a 10,000 sq.ft. site located on Portland Road in Salem, OR for $2.2 million. For more information, contact Alex Rhoten, Coldwell Banker Commercial Mountain West Real Estate, LLC, 698 12th Street, Suite 100, Salem, OR 97301; 503-587-4777, Fax 503-588-3514.
NAI Olympia Partners represented Shorewood Shops, LLC in the acquisition of three separate parcels of land, totaling nearly six acres, at the intersection of Illinois Road and Scott Road in Fort Wayne, IN. The company is planning to develop a 24,000 sq.ft. center with two adjoining outlots. Opening is slated for the Fall. For more information, contact Maria Stein, NAI Olympia Partners, 320 North Meridian Street, Suite 700, Indianapolis, IN 46204; 317-264-9400, Fax 317-264-9406; Web site: www.naiolympia.com.
Ludwig & Seeley Real Estate represented Lowe’s Home Center, Inc. in the acquisition of 14 acres in South Bend, IN. For more information, contact Heather Stout, Ludwig & Seeley Real Estate, 29850 Northwestern Highway, Southfield, MI 48034; 248-750-1700; Web site: www.ludwigseeley.com.
J&R Investments is looking to acquire sites throughout the Mid-Atlantic for between $750,000 to $4 million. For more information, contact Joel Flachs, J&R Investments, 50 Savits Drive, Elverson, PA 19520; 610-469-6999, Fax 610-469-1881; Email: jflachs@ptd.net.
The Everest Group is selling a land area of 27.75 acres at the intersection of Interstate 275 and Winton Road in Cincinnati, OH for $8.32 million. The site is located adjacent to Home Depot and Kmart. The space was formerly occupied by Auto Nation. For more information, contact Chris Nachtrab, The Everest Group, 9912 Carver Road, Suite 100, Cincinnati, OH 45242; 513-769-2500, Fax 513-769-2512; Email: chris.nachtrab@everestrealestate.com; Web site: www.everestrealestate.com.
Marcus & Millichap National Retail Group is selling a 6,655 sq.ft. Hollywood Video store located on the U.S./Mexico border in San Juan, TX for $1.665 million with a Cap rate of 8.04%. Area retail includes McDonald’s and HEB Grocery. For more information, contact Brian T. Southworth, Marcus & Millichap National Retail Group, 101 West Ohio Street, Suite 1550, Indianapolis, IN 46204; 317-955-2600, Fax 317-955-0091; Email: bsouthworth@marcusmillichap.com.
JGB Properties is selling a land area of 3.11 acres on Oswego Road in Liverpool, NY for $859,000. The site is located close to the New York State Thruway on exit 38. For more information, contact Marty Dowd, JGB Properties, LLC, 115 Metropolitan Drive, Liverpool, NY 13008; 315-234-4184, Fax 315-451-8503; Email: mdowd@jgbproperties.com; Web site: www.jgbproperties.com.
NewBridge Retail Advisors has been awarded the listing for a portfolio of 15 southeastern retail properties that are available together, in groups, or separately. The properties include assets in AL, GA, MS, NC and TN. The seller is a private investment group from GA seeking to redeploy capital in their portfolio. The portfolio offers stabilized properties and properties with upside opportunities. Of the 15 properties, six are operating Winn-Dixie centers, three are operating Food Lion centers, one is anchored by a local supermarket and one is anchored by a Fred’s drug store. Four properties have vacant Winn-Dixie or Food Lion boxes, but three are still paying rent. Square footages range from 29,900 sq.ft. to 289,900 sq.ft. and totals 996,034 sq.ft. The AL properties include Coldwater Plaza in Oxford; Palisades Shopping Center in Birmingham; Royal Plaza in Gadsden; Saks Plaza in Anniston; Sutton Square in Rainbow City and Three Notch Plaza in Andalusia. The GA properties include Marketplace of Americus in Americus; Cherry Street Plaza in Jesup and Marketplace of Moultrie in Moultrie. The TN properties include a Food Lion in Elizabethtown; Genesis Square in Crossville; Karns Corner in Knoxville and Sparta Crossing in Sparta. The MS property is Eastgate Plaza in Meridian, while the NC property is Tabor Crossing in Tabor City. For more information, contact Gary Saykaly or Lynn Leonard, NewBridge Retail Advisors, Royal Centre One, 11675 Great Oaks Way, Suite 135, Alpharetta, GA 30022; 678-802-6500, Fax 678-802-6588.
Triangle Commercial is working with a group that is looking for an exchange property that should not exceed $925,000. The company is looking for sites in NC and VA, with a focus on VA. For more information, contact Chuck Valdez, Triangle Commercial, 200 Cascade Pointe Lane, Suite 101, Cary, NC 27513; 919-677-6100, Fax 919-677-6161; Email: chuck@trianglecommercial.com.
Diversified Commercial Real Estate is selling a 9,700 sq.ft. former restaurant located at the intersection of Interstate 90 and Route 31 in Elgin, IL for $1.35 million. The building is situated on a land area of 2.8 acres. For more information, contact Michael Larson, Diversified Commercial Real Estate, 8231 Hohman Avenue, Suite 200, Munster, IN 46321; 219-836-4740 Ext. 107, Fax 219-836-4911; Email: mike@divcommercial.com; Web site: www.divcommercial.com.
Fameco Real Estate negotiated the sale of The Crossroads Mall of the Poconos, a 245,356 sq.ft. regional center located at the intersection of Route 611 and Interstate 80 in Stroudsburg, PA. The center will be anchored by Lowe’s Home Improvement, Kohl’s, Red Robin, Pennstark Bank and Longhorn Steakhouse. One pad site is still available for ground lease. For more information, contact Diane Weinberg, Fameco Real Estate, 15 East Ridge Pike, Suite 100, Conshohocken, PA 19428; 610-834-8000, Fax 610-834-1793.
Coldwell Banker George Realty is selling a land area of 4.59 acres located on South State Street in San Jacinto, CA for $1.35 million. For more information, contact Stanley Fu, Coldwell Banker George Realty, 660 West Huntington Drive, Arcadia, CA 91007; 626-202-6602, Fax 626-462-5662.
Centurion Partners, LLC sold Northlite Commons II, a 22,901 sq.ft. center located in Kannapolis, NC for $5.775 million. The center is located adjacent to a Wal*Mart Supercenter and contains 4,000 sq.ft. of available space. Cotenants include Alltel, Duke Energy, Wells Fargo, Casa Grande Mexican Restaurant, ABC Store Boutiques, Hear Direct, 1st Class Shipping, Dragon Wok and Sold on Ebay. For more information, contact Maura Reddington, Centurion Partners, LLC, 16930 West Catawba Avenue, Suite 205, Cornelius, NC 28031; 704-895-2512 Ext. 1; Email: mreddington@centurionpartners.net.
Capital B Realty, LLC is selling Crockett Eastgate Center, a 65,000 sq.ft. center located on Loop 304 East in Crockett, TX for $2 million with a Cap rate of 4%. The center is currently 61% occupied and is anchored by Beall’s and Family Dollar. The company also is selling a 17,400 sq.ft. Family Dollar store located on South Maple Street in Trinity, TX for $395,000 with a Cap rate of 11%. For more information, contact Nicholas Baskin, Capital B Realty, LLC, 656 East Lake Drive/2815 U.S. Highway 59 South, Livingston, TX 77351; 936-327-4345, Fax 936-327-4321.
Hogan Real Estate is selling Walgreens stores located in Floyd Knobs, IN and Shelbyville, KY. The stores have Cap rates of 6%, are absolute net investments and have 25-year lease terms with ten, five-year options. For more information, contact Justin Phelps or Kevin Schreiber, Hogan Real Estate, 420 West Liberty Street, Louisville, KY 40202; 502-426-1050; Emails: jphelps@hogandev.com and kschreiber@hogandev.com.
Arroyo & Coates, Inc. is selling a 41,981 sq.ft. Smiths Food & Drug store located just off Interstate 80 in Rock Springs, WY for $4.2 million with a Cap rate of 9%. The building is situated on a land area of 5.31 acres and has an absolute NNN lease with five years remaining. For more information, contact Paul Souza, Arroyo & Coates, Inc., 500 Washington Street, Suite 700, San Francisco, CA 94111; 415-445-7800 Ext. 184, Fax 415-723-7700; Email: psouza@a-c.com.
Millennium Properties Real Estate, Inc. is looking to acquire outlots or endcaps in high-density, high-traffic locations in Downers Grove, Naperville, Tinley Park, Homewood, Barrington, Niles, Des Plaines, Lombard, Bloomingdale, Island Lake, Waukegan and Chicago, IL. For more information, contact Ben Rosenfield, Millennium Properties Real Estate, Inc., 20 South Clark Street, Suite 630, Chicago, IL 60603; 312-338-3000, Fax 312-338-3008; Email: brosenfeld@mpirealestate.com; Web site: www.mpirealestate.com. |