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Buyers & Sellers
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Buyers & Sellers Tri-State Realty Group, LLC is selling six lots from 1.11 acres to 2.48 acres on Thomas Grace Road in Sharpsburg, GA, at the intersection of Highway 34 and Andrew Bailey Road. The lots are priced $450,000 per acre for interior lots and $695,000 per acre for corner lots. The company will build to suit. Area retail includes Kroger, Publix, Hallmark, Waffle House, Chick-Fil-A and McDonald’s. For more information, contact Jean Peck or Donna Romeo, Tri-State Realty Group, LLC; 770-313-0045/560-5346; Emails: jpeck@tri-staterealty.net and dromeo@tri-staterealty.net.
Trustreet Properties is selling an Arby’s location in Gadsden, AL. The site is listed for $2.04 million at a Cap rate of 6.5%. The store is situated on a land area of 37,918 sq.ft. Area retail includes Belk, Sears, Michaels, Premier Cinema, Taco Bell, Capt. D’s, McDonald’s, Chick-Fil-A, Logan’s Roadhouse, Subway, Waffle House and Ruby Tuesdays. The company also is selling numerous other Arby’s, Burger Kings, Captain D’s, Checkers, Chili’s, Denny’s, Furr’s, KFC, Kum & Go, Rally’s, Taco Bell and Wendy’s. For more information, contact investment property sales, Trustreet Properties; 407-540-2222, Fax 407-540-2044; Web site: www.trustreet1031.com.
Client Realty Services is looking to acquire retail or industrial sites for $2 million to $4 million throughout AZ. For more information, contact Gordon Wagner, Client Realty Services, 2921 East Ft. Lowell Road, Suite 205, Tucson, AZ 85716; 520-331-4050, Fax 520-844-8886; Email: gordonwrealty@theriver.com.
Shane Investment Property Group is selling the North Hills Shopping Center in Atlanta, GA for $14.5 million at a Cap rate of 7.86%. Financing is locked in at 5.34%. The anchor has two years remaining and its current rent is $4.50 psf. For more information, contact Jeff Enck, Shane Investment Property Group, 100 North Point Center East, Suite 150, Alpharetta, GA 30022; 770-481-1960, Fax 770-481-1961; Email: jenck@shanegroup.net; Web site: www.shanegroup.net.
Bob Bassel Realties, Inc. is looking to acquire net leased investment properties of all types with a minimum of a 15-year lease term. The company also is interested in land lease investments. For more information, contact Bob Bassel, Bob Bassel Realties, Inc., 1312 St. Catherine Street West, Suite 318, Montreal, Quebec, Canada; 514-871-9414, Fax 514-871-9506; Email: info@bobbassel.com.
DJM Realty is selling eight freestanding locations from 79,431 sq.ft. to 110,386 sq.ft. as well as two anchor sites of 75,600 sq.ft. and 77,529 sq.ft. The company also is selling two vacant land parcels of 3.7 acres and 6.98 acres. The properties are located in IA, IL, IN and MO. The deadline for submitting offers is Jan. 24, 2007. For more information, Emilio Amendola, Jim Avallone or Lara Rycyk, DJM Realty; 877-468-1050 Ext. 223/224/236; Web site: www.djmrealty.com.
Eden Property Co., LLC is selling two proposed Walgreens sites in Howell, NJ and Staten Island, NY, which are slated to open in January 2007. The Howell, NJ site is 14,550 sq.ft. and the Staten Island, NY site is 11,600 sq.ft. The company also is looking to acquire land of one acre to 15 acres in Pittsburgh, PA and within a 200-mile radius of New York City, NY. 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.
The Triad Group sold a property on 61-83 Braintree Street in Boston, MA for $2.7 million. Triad 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-1.
Coldwell Banker is selling the 110,000 sq.ft. Dickson Plaza Shopping Center on Highway 70 in White Bluff, TN for $2.925 million. The project sits on six acres. For more information, contact Jim Hill, Coldwell Banker; 615-476-0258, Fax 615-446-4471; Email: hilljim@realtracs.com.
Beitler Commercial Real Estate is looking to acquire a single tenant retail or industrial properties priced between $3.4 million to $6 million in the Western region as well as office/retail buildings in CA for $23 million to $40 million. For more information, contact Shelley Nelbert, Beitler Commercial Real Estate; 818-501-5001 Ext. 133.
Colliers International is selling the 3,200 sq.ft. Butte Community Bank site at the Anderson Marketplace in Anderson, CA for $1.08 million. The lease is an absolute net ground lease at a 20-year term with three, 10-year options. There are 15% rent increases every five years. For more information, contact Gary Galleli, Jr. or Stuart Wright, Colliers International, 1400 Rocky Ridge Drive, Suite 150, Roseville, CA 95661; 916-784-7550, Fax 916-784-2098; Email: gary.galleli@colliers.com; Web site: www.colliersroseville.com.
KMO Development, Inc. is selling two Boston’s Gourmet Pizza locations in Evansville, IN and Woodbury, MN. In Evansville, IN, the company is selling the location for $3.14 million at a Cap rate of 8.25%. There is a 20-year absolute net lease with options and 1% rent increases annually. The company is selling the Woodbury, MN unit for $3.86 million at a Cap rate of 8.5%. There is a 20-year absolute net lease with options and 1.5% rent increases annually. The location is a pad site of a lifestyle center anchored by Linens ‘N Things, Michaels, Banana Republic, The Gap, Jos. A. Bank and Talbot’s. For more information, contact Grant Stewart, KMO Development Group, Inc.; 918-743-3456, Fax 918-743-4084; Email: gstewart@kmodevelopment.com.
BridgePointe Advisors is selling the 196,118 sq.ft. Kanawha Mall, located on MacCorkle Avenue in Kanawha City, WV. The mall is anchored by a recently-expanded Elder-Beerman and shadow-anchored by Gabriel Brothers. Other tenants include China Buffet, Deb Shop, FYE and the Department of Motor Vehicles. Area retail includes Lowe’s Home Improvement, Kroger, Cracker Barrel, Applebee’s, Longhorn Steakhouse, IHOP, Bob Evans, Texas Steakhouse and Pizza Hut. The average daily traffic count is 143,000 vehicles. The center is 84% occupied and there is space available for an anchor. Area demographics include a population of 108,025 within 10 miles earning $53,563 as the average household income. The company also is selling Winder Corners, a 161,774 sq.ft. Publix-anchored community center located on Monroe Highway in Winder, GA. The center is 99% occupied and tenants include Goody’s, Peebles, Aaron Rents, Blockbuster Video and Hibbett Sports. The average daily traffic count is 9,591 vehicles. Area demographics include a population of 81,167 within 10 miles earning $58,206 as the average household income. For more information regarding the Kanawha Mall or Winders Corners, contact Gary Saykaly or Van Barron, BridgePointe Advisors, 2475 Northwinds Parkway, Suite 250, Alpharetta, GA 30004; 404-446-4910/4922, Fax 404-446-4901; Emails: gsaykaly@bp-advisors.com and vbarron@bp-advisors.com.
NAI Ohio Equities is selling an Advance Auto Parts store in suburban Dayton, OH. The 7,000 sq.ft. store sits on 0.795 acres and opened October 2006. The 15-year lease has three five-year options. The rent is $101,034 annually for the initial term with 5% increases for each option. The asking price reflects a 7% Cap rate. For details, contact John Gunnin, NAI Ohio Equities; 614-629-5218; Email: jgunnin@ohioequities.com.
Anastasio Associates is representing a 1031 investor seeking retail centers with a strong anchor. The buyer prefers AAA rated tenants. Acquisition prices can range up to $5.5 million. Geographic regions of interest cover Phoenix, AZ; CT; NJ; NY; OH and PA. For details, contact Toni Denis, Anastasio Associates; 191 East Main Street, Huntington, NY 11743; 631-549-5800.
CB Richard Ellis is selling the 8,400 sq.ft. Rome Village Plaza for $2.202 million at a Cap rate of 7.65%. Located on Cartersville Highway in Rome, GA, the site is a shadow anchored by a Wal*Mart Supercenter. The center is tenanted by Milano’s, US Nails, North GA Cellular, H&R Block and Lendmark Financial Services. Area demographics include a population of 63,061 within seven miles earning $52,048 as the average household income. The company also is selling Shops of Tara, a 69,706 sq.ft. retail/service center on Tara Boulevard in Jonesboro, GA. The site is listed for $7.77 million at a Cap rate of 7.9%. Tenants include Dent 1 st , Monterrey Mexican Restaurant, La Estrella Supermarket, Corona Billiards, Corinthina Colleges and JR Crickets Sports Bar/Restaurant. Area retail includes a proposed Office Depot, Marshalls, Sports Authority, K&G Menswear, as well as Macy’s, JC Penney and Sears at the Southlake Mall. Area demographics include a population of 200,426 within five miles earning $51,022 as the average household income. CB Richard Ellis also is selling a one-acre parcel adjacent to CVS on Brown’s Bridge Road in Covington, GA for $550,000. Area retail includes Dollar General, Kroger and Advanced Auto. Area demographics include a population of 49,911 within five miles earning $79,218 as the average household income. The company also is selling the Roebuck Center on Parkway East in Birmingham, AL for $12.6 million at a Cap rate of 7.73%. The 152,243 sq.ft. center is anchored by Food World. The center is 98% occupied and other tenants include U.S. Postal Service, Hancock Fabrics, Dollar General and Bestway Rent-To-Own. Area demographics include a population of 42,708 within three miles earning $45,345 as the average household income. CB Richard Ellis also is selling a Panera Bread on Station Avenue in Anderson, SC for $1.45 million. The 4,765 sq.ft. site is an outparcel to Anderson Station, a 243,663 sq.ft. power center anchored by Old Navy, Bed Bath & Beyond, Hobby Lobby, Pier 1 and Party City. Area demographics include a population of 53,939 earning $57,970 as the average household income. CB Richard Ellis is selling a 136,716 sq.ft. Sam’s Club in Anderson, SC. The freestanding store opened in 1993 with a 20-year NNN lease. The Sam’s Club is adjacent to a 191,976 sq.ft. Wal*Mart Supercenter and a 5,000 sq.ft. strip center occupied by Sally Beauty, Cato, Cato Plus, Game Stop and Asian Noodle House. Demographics within five miles of the site offer a population of 53,939 earning an average household income of $57,970. The rent is $812,098 annually. The asking price of $12.5 million reflects a 6.5% Cap rate. CB Richard Ellis is also selling 14.17 acres of land zoned for retail development adjacent to a newly constructed Wal*Mart Supercenter in Sidney, NE. The site has visibility from Interstate 80 and is priced at $2.2 million. For more information regarding Rome Village Plaza, contact Craig Taylor, CB Richard Ellis, 3340 Peachtree Road, Suite 1050, Atlanta, GA 30326; 404-923-1454, Fax 404-923-1241; Email: craig.taylor@cbre.com; Web site: www.cbre.com. For more information regarding the CVS site, contact George Bartelme; 404-923-1490, Fax 404-923-1593; Email: george.bartelme@cbre.com. For more information regarding the Roebuck Center, contact Mark Shellabarger, Craig Taylor or Matthew Baldwin; 813-273-8439/404-923-1454/813-273-8458; Emails: mark.shellabarger@cbre.com or matthew.baldwin@cbre.com; Web site: www.cbre.com/roebuck. For more information regarding the Panera Bread site, contact Chris Bosworth, Will Pike and Mike Burkard; 404-923-1486/1381; Emails: chris.bosworth@cbre.com, will.pike@cbre.com and mike.burkard@cbre.com. For more information, regarding the Anderson, SC site, contact Chris Bosworth, CB Richard Ellis; 404-923-1486, Fax 404-923-1241; Email: chris.bosworth@cbre.com. For details regarding the Sidney NE site, contact Keely Polczynski, CB Richard Ellis, 311 South Wacker Drive, Suite 400, Chicago, IL 60606; 312-861-7870, Fax 312-935-1880; Email: keely.polczynski@cbre.com.
Sperry Van Ness Commercial Real Estate Advisors is selling a 24-acre site in Lincolnton, NC for $1.495 million located at the intersection of Roper Drive and East Main Street. Area retail includes Lowe’s Home Improvement and Staples. The site is zoned commercial and retail mixed-use. The company also is selling a CVS at the intersection of Pamplico Highway and Mountain Laurel Court in Florence, SC for $2.725 million at a Cap rate of 6.5%. Area retailers include Lowe’s Home Improvement, Ruby Tuesdays, Bi-Lo, Wal*Mart Supercenter, McDonald’s, Aldi, Walgreens and Radio Shack. The company also is selling a 17,120 sq.ft. outparcel at a Wal*Mart Supercenter in Madison Heights, VA at the intersection of South Amherst Highway and Woody’s Lake Road. The site is selling for $3.665 million at a Cap rate of 7.25%. Tenants include Radio Shack, Movie Gallery, Mattress King, Quiznos, Little Caesars, Advance America and HomeTown Rentals. Sperry Van Ness also is selling an Eckerd at the intersection of East Main Street and Fernwood Glendale Road in Spartanburg, SC for $3.5 million at a Cap rate of 7.67%. The 10,908 sq.ft. site is shadow-anchored by Hillcrest Shopping Center, which is tenanted by Publix, Rack Room Shoes, South Trust Bank, Chick-Fil-A, Petco, Stein Mart, Ross Dress for Less, Office Depot and Marshalls. For more information regarding the Lincolnton site, contact Eddie Blanton or Phil Davis, Sperry Van Ness Commercial Real Estate Advisors, 13900 Conlan Circle, Suite 110, Charlotte, NC 28277; 704-759-3800 Ext. 11/15. For more information regarding the CVS site, contact Troy Legge; 704-759-3800 Ext. 14; Email: troy.legge@svn.com; Web site: www.svnlighthouse.com. For more information regarding the Madison Heights, VA out-pad, contact Robert Podewils or Eddie Blanton; 708-759-3800 Ext. 17/11; Emails: robert.podewils@svn.com and eddie.blanton@svn.com. For more information regarding the Eckerd site, contact Troy Legge; 704-759-3800 Ext. 14; Email: troy.legge@svn.com. |