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Buyers & Sellers
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Buyers & Sellers TRI Commercial is selling a 2,376 sq.ft. Starbucks location on South Auburn Street in Colfax, CA for $1.75 million. The site has a drive-thru and is in the third year of a five-year lease with two, five-year options. The company also is selling a service shop and a barbeque/deli location on Canyon Court in Colfax, CA for $600,000. The two buildings total 2,160 sq.ft., with 1,260 sq.ft. of the retail/service station and 900 sq.ft. for the barbeque/deli. The company also is selling a 9,500 sq.ft. building located on Canyon Court in Colfax, CA for $1.25 million. The site includes 4,200 sq.ft. for a two-story office building and a 5,300 sq.ft. shop. The company also is selling Colfax Mall, a 53,582 sq.ft. center located on South Auburn Street in Colfax, CA for $9.5 million. The center is situated on a land area of 3.1 acres and is anchored by Sierra Grocery Market. Cotenants include Taco Bell, Pizza Factory and Curves. For more information, contact Keith Wardhaugh or Scott Cash, TRI Commercial, 2250 Douglas Boulevard, Suite 200, Roseville, CA 95661; 916-677-8142/8127; Emails: kwardhaugh@tricommercial.com and scash@tricommercial.com.
AmCap, Inc. is looking to acquire freestanding locations and strip and power centers throughout the U.S., with a focus on the West Coast, Pacific Northwest, New England and Mid-Atlantic states from $30 million to $120 million with Cap rates of 6%. The occupancy factor must be at least 90%. The company closed on more than $320 million worth of acquisitions last year and is looking to invest the same or more this year. For more information, contact Jake Bisenius, AmCap, Inc., 1281 East Main Street, Suite 200, Stamford, CT 06902; 203-327-2001, Fax 203-327-2003; Email: jake@amcap.com; Web site: www.amcap.com.
Massell Commercial Real Estate is selling a ground lease of build-to-suit opportunity for outparcels in Hazlehurst, GA. The site is anchored by a Wal*Mart Supercenter and is located at the intersection of U.S. 341, State Highway 27 and East Jarman Street. For more information, contact Kimberly Atlee, Massell Commercial Real Estate, Century Springs West, 6000 Lake Forrest Drive, Suite 375, Sandy Springs, GA 30328; 404-255-6810 or 877-204-8830, Fax 404-252-3883; Email: realty@massell.com; Web site: www.massell.com.
Millennium Properties, Inc. completed the following sales on two former Kmart properties on behalf of GMAC Commercial Mortgage for $4.4 million: a 94,843 sq.ft. site on Columbus Street in Ottawa, IL and a 100,150 sq.ft. site on Dettro Drive in Mattoon, IL. Both sites are situated on a land area of nearly 11 acres. The company is currently marketing a 99,469 sq.ft. former Kmart site in Jacksonville, IL for $2.35 million. For more information, contact Dan Hyman or Susan Silver, Millennium Properties, Inc., Two First National Plaza, 20 South Clark Street, Suite 630, Chicago, IL 60603; 312-338-3000.
The Royston Group is selling an Advance Auto Parts store in Wareham, MA for $2.35 million. The store has a new 15-year lease and the site has an average daily traffic count of 27,400 vehicles. 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.
Prakas Group is selling Linda B’s, a 2,800 sq.ft. restaurant located on East Palmetto Park Road in Boca Raton, FL for $325,000. The site has completed $700,000 in gross sales. For more information, contact Tom Prakas, Prakas Group, 561-929-0003, Fax 561-368-4303; Email: prakasgroup@aol.com.
Skyline Co. is looking to acquire centers anywhere in the U.S. from between $5 million and $10 million with a Cap rate of 8.5%. For more information, contact Allen Yadgari, Skyline Co., 1600 Sawtelle Boulevard, Suite 205, Los Angeles, CA 90025; 888-842-0477 or 310-479-4140, Fax 888-731-1132; Email: allen@skylinecompany.com.
ArciTerra Group, LLC is selling Shelby Township Center, a 100% leased center located at the intersection of 23 Mile Road and Shelby Parkway in Shelby, MI for $4.1 million. The site has a net operating income of $272,385. The center is currently shadow-anchored by Wal*Mart Supercenter. Tenants will include Starbucks, InkStop, Quiznos, Great Clips, Sally Beauty, EB Games and Pearl Nails. For more information, contact Ryan D. O’Connell, ArciTerra Group, LLC, 2720 East Camelback Road, Suite 220, Phoenix, AZ 85016; 602-840-6800, Fax 602-956-4494; Email: ryan.oconnell@arciterra.com.
Marcus & Millichap Real Estate Investment Brokerage Co. is selling a Walgreens store located in Canton, OH for $4.25 million with a Cap rate of 7.25%. The store has 11 years left on its primary NN lease with a total of 51 years including options. Area demographics include a population of 150,000 within five miles earning $48,763 as the average household income. Marcus & Millichap Real Estate Investment Brokerage Co. of Nevada is looking to acquire strip centers with vacancy issues from 30,000 sq.ft. to 60,000 sq.ft. throughout AZ, CA or NV. The center needs to be within 30 miles of a major airport. For more information, contact Adiel Brasov, Marcus & Millichap Real Estate Investment Brokerage Co., 1401 17th Street, Suite 1100, Denver, CO 80202; 303-328-2048, Fax 303-308-9048; Emails: abrasov@marcusmillichap.com and bmckernan@marcusmillichap.com. For more information regarding the sites in NV, contact Chris Clifford, Marcus & Millichap Real Estate Investment Brokerage Co. of Nevada, 3993 Howard Hughes Parkway, Suite 300, Las Vegas, NV 89109; 702-215-7100, Fax 702-215-7110; Email: cclifford@marcusmillichap.com.
Grubb & Ellis Co. is selling a portfolio of three freestanding single-tenant buildings located in the Rio Grande Valley area of TX. There are nine years remaining on the initial lease term with options, as well as 2% increases on each lease every year. The sites have Cap rates of 7%. Grubb & Ellis/Thomas Linderman Graham is offering a retail investment at The Factory, a 213,582 sq.ft. center located in Raleigh, NC. The center is situated on a land area of 35.63 acres and is currently 96% leased. Tenants include YMCA, Factory Ice House, Armadillo Grill and Village Deli. Grubb & Ellis Co. also represented Weingarten Realty Investors in the sale of Copperfield Village Shopping Center, a 163,011 sq.ft. center located in Houston, TX. The center was acquired by an affiliate of Greenstreet Real Estate Partners, L.P. The center is anchored by Randalls Food and Ross Dress For Less and is cotenanted by Wells Fargo Bank. The company also is selling a land area of 1.14 acres adjacent to Brandon Town Center located on Causeway Boulevard in Brandon, FL for $720,000. The site is pre-approved for a 12,000 sq.ft. building. Area demographics include a population of 70,286 within three miles earning $59,743 as the average household income. The site has an average daily traffic count of 85,000 vehicles. For more information, contact Jason A. Mittman, Grubb & Ellis, 8303 Mopac, Suite B125, Austin, TX 78759; 512-527-1032, Fax 512-340-0781; Email: jason.mittman@grubb-ellis.com; Web site: www.gepcig.com. For more information regarding The Factory, contact John B. Lindermann Jr. or Jim McMillan, Grubb & Ellis/Thomas Linderman Graham, 1511 Sunday Drive, Suite 200, Raleigh, NC 27607; 919-785-3434, Fax 919-785-0802; Emails: john.linderman@tlgcre.com and jim.mcmillan@tlcgre.com. For more information regarding Copperfield Village Shopping Center, contact George Cushing, Grubb & Ellis Co., 1330 Post Oak Boulevard, Suite 1400, Houston, TX 7756; 713-626-8888, Fax 713-626-2288; Web sites: www.georgecushing.com and www.grubb-ellis.com. For more information regarding the site in Brandon, FL, contact Lill Hanson or Michelle Crang-Seifert, Grubb & Ellis/Commercial Florida, 3030 North Rocky Point Drive, Suite 560, Tampa, FL 33607; 813-830-7886/7537 or 813-639-1111, Fax 813-639-1919; Emails: lhanson@commercialfl.com and mseifert@commercialfl.com. Faris Lee Investments completed the sale of the Shops at Rancho Cucamonga Town Square, a 15,472 sq.ft. center located on Foothill Boulevard in Rancho Cucamonga, CA for $8.1 million to an individual 1031 Exchange investor. The company represented the seller, Zion Enterprises, Inc. The center is currently 100% occupied by Active Ride, Golf Etc., Platos Closet and Rancho Beauty. For more information, contact Jennifer Little or Jessamyn Williams, Faris Lee Investments, 2301 Dupont Drive, Suite 100, Irvine, CA 92612; 949-863-1910 Ext. 27/21; Emails: jennifer@amies.com and jessamyn@amies.com; Web site: www.farislee.com.
Colliers Turley Martin Tucker sold two parcels totaling seven acres on the 6100 block of Keystone Avenue in Indianapolis, IN. The site is located near Glendale Mall. The sites were formerly occupied by Sears Hardware and Service Merchandise. The company also is selling a portfolio of three NNN leased Dave & Buster’s locations in Columbus, OH, Jacksonville, FL and Addison, IL. The sites range from 38,000 sq.ft. to 50,00 sq.ft. and can be sold as a package or individually. The sites have 15-year leases. For more information, contact Colliers Turley Martin Tucker; 317-639-0442; Web site: www.ctmt.com. For more information regarding the Dave & Buster’s portfolio, contact Kevin James, Colliers Turley Martin Tucker, 614-827-1705, Fax 614-241-4701; Email: ktjames@ctmt.com.
Cramer Real Estate Services is representing a client looking to acquire a strip center in the Baton Rouge, LA area. For more information, contact Mark Cramer, Cramer Real Estate Services, PO Box 84102, Baton Rouge, LA 70884; 225-709-4098, Fax 225-208-1386; Email: mtcramer@cox.net.
Quine & Associates, Inc. is selling a site located in Albuquerque, NM for $9.5 million. The site is currently 100% preleased to three major tenants and is slated to open early next year. 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.
Zell Commercial Real Estate Services, Inc. is selling Oasis at the Islands, a center located at the southeast corner of Elliot Road and McQueen Road in Gilbert, AZ for $2.146 million. The building is situated on a land area of 1.4 acres. Area demographics include a population within one mile earning $82,276 as the average household income. The company also is selling a 1,943 sq.ft. single tenant freestanding restaurant site located at the intersection of Alma School Road and Guadalupe Road in Mesa, AZ for $808,500 with a Cap rate of 7.5%. The company also is selling retail and office pads at Santa Maria Village, a center located at the intersection of McQueen Road and Chandler Boulevard in Chandler, AZ. The site has an average daily traffic count of 60,500 vehicles. For more information, contact Bryan Ledbetter or Alan L. Zell, Zell Commercial Real Estate Services, Inc., 5343 North 16th Street, Suite 290, Phoenix, AZ 85016; 602-248-0600, Fax 602-248-0501; Emails: bledbetter@zellcre.com and azell@zellcre.com; Web site: www.zellcre.com.
The Rappaport Cos. acquired Penn Station Shopping Center, a 244,815 sq.ft. center located on Silver Hill road in District Heights, MD. For more information, contact The Rappaport Cos., 8405 Greensboro Drive, Suite 830, McLean, VA 22102-5121; 571-382-1200, Fax 571-382-1210; Web site: www.rappaportco.com.
Colliers International is selling a Wells Fargo bank site located on Interstate 45 South, between Scarsdale Boulevard and Dixie Farm Road, in Houston, TX for $5.467 million with a Cap rate of 7%. The site has a net operating income of $382,718. The company also is selling a 9,000 sq.ft. Home Depot shadow-anchored center located at the intersection of Highway 6 and Richmond in Houston, TX for $2.81 million. Cotenants include Radio Shack, Pearle Vision, Sally Beauty Supply and EZ Payday Loans. The site has a net operating income of $207,722. The company also is offering a Kohl’s NNN ground leased investment located on Springfield Avenue in Chico, CA for $7.275 million. The site has a 20-year lease with options. Area demographics include a population of 100,147 within seven miles earning $52,109 as the average household income. For more information, contact Saul Keeton, Colliers International, 1300 Post Oak Boulevard, Suite 200, Houston, TX 77056; 713-830-2155, Fax 713-986-4955. For more information regarding the Home Depot shadow-anchored center, contact Patrick Graham, Colliers International, at 713-830-2169; Email: pgraham@collierstexas.com. For more information regarding the site in Chico, CA, contact Gary Gallelli Jr. or Stuart Wright, Colliers International, 1400 Rocky Ridge Drive, Suite 150, Roseville, CA 95661; 916-784-7550, Fax 916-784-2098; Emails: gary.gallelli@colliers.com and stuart.wright@colliers.com.
Equity One, Inc. looks to acquire supermarket-anchored centers and strip centers with a minimum GLA of 65,000 sq.ft. with no maximum size requirement throughout FL, GA, the Carolinas, New England and Mid-Atlantic states. The company also will consider the redevelopment and/or retenanting opportunities in well-located areas. The company also will consider locations that have short terms remaining on supermarket leases. For more information, contact Equity One, Inc., 1600 N.E. Miami Gardens Drive, North Miami Beach, FL 33179; 305-947-1664, Fax 305-947-1734; Web site: www.equityone.net.
Hanley Brown Group Real Estate Advisors is selling a single tenant Wienerschnitzel, Tastee Freez and Hungry Howie’s Pizza location in Lake Elsinore, CA for $2.89 million with a Cap rate of 5.8%. The site has a brand new 10-year NNN lease with options and 12% increases every five years. Area retail includes Wal*Mart, Vons, Big Lots, Sav-On, Starbucks, In-N-Out Burger, Quiznos, Kragen, Stater Bros., Washington Mutual and Payless Shoes. The site has an average daily traffic count of 100,000 vehicles. There are over 10,000 new homes planned within a five-mile radius. For more information, contact Eric L. Werner, Hanley Brown Group Real Estate Advisors, 2569 McCabe Way, Suite 100, Irvine, CA 92614; 949-585-7678 or Brian Bielatowicz, Lee & Associates Commercial Real Estate Services, 951-445-4515; Emails: eric.werner@hanleybrown.com and bbielatowicz@lee-associates.com; Web site: www.hanleybrown.com.
OTRE Investments, LLC is looking to acquire sites nationwide, except for the northeast region, from 2,000 sq.ft. to 75,000 sq.ft. The company seeks to acquire freestanding, single tenant retail buildings on high traffic corridors that have some leasing risk and/or need some capital improvements. For more information, contact David Boudreau, OTRE Investments, LLC, 301 Howard Street, Suite 930, San Francisco, CA 94118; 415-908-4945, Fax 415-908-4936; Email: dboudreau@otre.net.
Terra Realty Services is selling a 54,000 sq.ft. center located in Lake Zurich, IL for $10 million. The center has 27 tenants. Asking rent is $16 psf with CAM of $4.79 psf. For more information, contact Steven Schwab, Terra Realty Services, 14048 Petronells, Suite 102, Libertyville, IL 60048; 847-845-8500 or 847-707-3507, Fax 847-557-3907; Email: info@terrarealty.net; Web site: www.terrarealty.net.
A private investor is selling a value-added 158,000 sq.ft. center located in Charlotte, NC for $4 million with a Cap rate of $7.4. The center is situated on a land area of 16 acres and is tenanted by Subway, a nail salon, Web Tax, DA SPOT Jazz lounge, Shoe Warehouse, a Bingo hall, a game store and Sports Dimensions restaurant. For more information, contact Parham Shariat at 703-898-5253.
Coldwell Banker is representing investors and/or developers looking to acquire centers throughout FL. For more information, contact Kathy Janow, Coldwell Banker, 954-689-0227; Email: kjanow@aol.com.
The Shopping Center Group, LLC served as broker in the sale of a 3,701 sq.ft. Bojangles restaurant located on GA Highway 369 in Gainesville, GA. For more information, contact Janice Wetter, The Shopping Center Group, LLC, 3101 Towercreek Parkway, Suite 200, Atlanta, GA 30339; 678-718-2805 or 770-955-2434, Fax 770-951-0054; Web site: www.theshoppingcentergroup.com.
Sperry Van Ness represented the seller in the sale of a freestanding location in Fairfax County, VA to La Petite Academy, Inc. The property, which has three years remaining on the lease, sold for $1.87 million. For more information, contact Michael B. Roberts, Sperry Van Ness, 6342 Beverly Drive, Mission, KS 66202; 877-707-1031 or 913-262-4455; Email: michael.roberts@svn.com; Web site: www.advisor.svn.com/michaelroberts.
The Everest Group is selling a parcel at the Florence Mall in Florence, KY for $15.825 million. The site has 63.3 acres with frontage on Interstate 75. 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.
CB Richard Ellis, Inc. is selling a 4,480 sq.ft. Sizzler restaurant located on Los Alamitos Boulevard in Los Alamitos, CA for $1.636 million. The site has a net operating income of $89,983. The tenant is on a 40-year NNN lease with 11 years remaining. The company also is selling a site located in Citrus Heights, CA for $8.4 million with a Cap rate of 6.01%. The site is part of a suburban center located at the intersection of Greenback Lane and San Juan Avenue. Cotenants at the site include Ross Dress For Less, Payless ShoeSource, Golden One Credit Union and Mervyn’s. The company also represented a private investment group in the sale of a Texas Roadhouse restaurant located at the intersection of U.S. 183 and Anderson Mill Road in Austin, TX. A private investor in Dallas, TX acquired the property, which is situated on a land area of 1.254 acres. The company also is selling a 6,040 sq.ft. former restaurant site located on South Westshore Boulevard in Tampa, FL for $1.8 million. The site has a fully-equipped kitchen and an outdoor deck and is situated on a land area of 0.36 acres. The company also is selling a potential mixed-use/commercial/40-unit residential site located on Pine Ridge Road in Naples, FL for $3 million. Area retail includes Chevron, IHOP, Shell, Burger King, Waffle House, Best Western Hotel, Cambridge Square, Hawthorne Suites, Perkins, Hooters, Harley Davidson, Racetrac and a golf course. The company also is selling a dark 72,507 sq.ft. Lowe’s Home Improvement store located in Marion, OH for $5.613 million with a Cap rate of 7.75%. The site has a net operating income of $435,042 and is situated on a land area of eight acres. There are seven years remaining on the lease term. For more information, contact Philip D. Voorhees, CB Richard Ellis, Inc., 3501 Jamboree Road, Suite 100, Newport Beach, CA 92660; 949-725-8466, Fax 949-725-8545; Email: phil.voorhees@cbre.com. For information regarding the Citrus Heights location, contact Randy Getz, CB Richard Ellis, Inc., 555 Capitol Mall, Suite 100, Sacramento, CA 95814; 916-446-8287; Email: randy.getz@cbre.com. For more information regarding the Texas Roadhouse site, contact Walter Saad or Cathy Nabours, CB Richard Ellis, Inc., 1221 South MoPac Expressway, Suite 100, Austin, TX 78746; 512-499-4925/4917; Emails: walter.saad@cbre.com and cathy.nabours@cbre.com. For more information regarding the site in Tampa, FL, contact John Jenkins or Tim Kleman, CB Richard Ellis, 201 East Kennedy Boulevard, Suite 1500, Tampa, FL 33602; 813-273-8438/8433, Fax 813-223-7144; Emails: john.jenkins@cbre.com and tim.kleman@cbre.com. For more information regarding the site in Naples, FL, contact Fred Kermani, CB Richard Ellis, 1100 Fifth Avenue South, Suite 100, Naples, FL 34102; 239-659-1447, Fax 239-659-4028; Email: fred.kermani@cbre.com; Web site: www.cbre.com/fred.kermani. For more information regarding the Lowe’s Home Improvement site, contact Jeffrey Thomas, CB Richard Ellis, 1420 5th Avenue, Suite 1700, Seattle, WA 98101; 800-775-3350, Fax 206-260-2829; Email: jeffrey.thomas@cbre.com; Web site: www.cbre.com/jeffrey.thomas.
DePaul Real Estate Investment Group is selling the following sites: Standley Lake Marketplace, a 70,786 sq.ft. center located at the intersection of Church Ranch Boulevard and North Wadsworth Parkway in Westminster, CO for $20 million with a Cap rate of 6.30%. Anchors include First National Bank of Colorado, Panda Express, 7-Eleven, KFC/Taco Bell, Cort Furniture Retail and Sylvan Learning Center; Boulevard Center II, a 61,444 sq.ft. center located on South Colorado Boulevard in Denver, CO for $18.8 million with a Cap rate of 6.76%. Anchors include Guitar Center, Lamps Plus, Village Inn, Maytag Appliance Center and Red Corral Chinese Restaurant; a 40,000 sq.ft. 24 Hour Sports Fitness Center located on West 120th Avenue in Westminster, CO for $10.6 million with a Cap rate of 6.5%; Woodland Park Plaza, a 43,872 sq.ft. center located in Woodland Park, CO for $5.9 million. Anchors include Blockbuster Video, Subway, Great Clips, GNC, Papa Murphy’s and Dairy Queen; Province Center, a 14,903 sq.ft. center located on South Colorado Boulevard in Highlands Ranch, CO for $5.725 million with a Cap rate of 6.30%. Anchors include a dance studio, nail salon, Mexican restaurant, Mediterranean restaurant and a Gaming café; Cherry Creek North, a 23,003 sq.ft. center located on East Third Avenue in Denver, CO for $6.5 million with a Cap rate of 7.41%. For more information, contact Paul DeCrescentis, DePaul Real Estate Investment Group, Inc., 999 18th Street, Suite 2310, Denver, CO 80202; 303-333-9799, Fax 303-333-1703; Email: paul@depaulreig.com.
Las Vegas Real Estate Advisors, LLC is selling a 12,696 sq.ft. retail pad site located at Tierra Rainbow Professional Park in Las Vegas, NV for $5.53 million. The center is anchored by Dunn Edwards Paints, Subway and Q.C. Financial, Inc. The property is located just 0.3 miles north of the Interstate 215 Freeway. For more information, contact Michael Boscia or Hillary Stoltz, Las Vegas Real Estate Advisors, LLC, 702-851-7731 or 702-851-7754.
NAI Ohio Equities is selling June Parkway Plaza, an 18,000 sq.ft. center located in Zanesville, OH for $2.035 million with a Cap rate of 8.62%. The center is tenanted by Advance America, H&R Block, Always Party Store, Z Nails, USA Pizza, Country Dollar, Phone Depot and Curves. The center has a net operating income of $175,619. For more information, contact Michael Zelnik or Patrick Dwyer, NAI Ohio Equities, 614-629-5280/5282; Emails: mike@44ohio.com and pat@44ohio.com.
Retail Investment Group, LLC is selling the Fidelity Investor Center building located on Town Center Parkway in Jacksonville, FL at the St. Johns Town Center. The property is on a long term net lease and is listed for $4.87 million. For more information, contact Steven I. Davis, Retail Investment Group, LLC, 12 Highland Avenue, Suite 100, Great Neck, NY 11021; 516-829-2625, Fax 516-977-2635; Email: steven@retail1031.com.
Commercial Services Group is selling a land area of 18 acres in Summerville, SC for $3.2 million. The site is adjacent to 140 planned homes. For more information, contact Scott Hodges, Commercial Services Group, 902 Savannah Highway, Charleston, SC 29407; 843-769-5100.
NewBridge Retail Advisors served as advisor in the sale of Palisades Shopping Center, a 289,936 sq.ft. center located off of Interstate 65 in Homewood, AL. The buyer was an Atlanta, GA developer who plans to redevelop the two-story, multi-use center. The center is anchored by Eckerd, China Buffet and other national, regional and local shop tenants. For more information, contact Gary Saykaly or Lynn Roth, NewBridge Retail Advisors, Royal Centre One, 11675 Great Oaks Way, Suite 135, Alpharetta, GA 30022; 678-802-6500, Fax 678-802-6588.
P.P.I. Capital, Inc. is looking to acquire strip centers or freestanding locations nationwide from $5 million to $40 million. The company prefers sites from 80,000 sq.ft. to 500,000 sq.ft. with an occupancy factor below 80%, as well as existing retail projects with dark anchors or vacant big boxes. For more information, contact B.J. Halavi, P.P.I. Capital, Inc., 10850 Wilshire Boulevard, Suite 720, Los Angeles, CA 90024; 310-446-1122, Fax 310-475-5519; Email: bj@ppicapital.net.
W.A.&S. Partners I, LLC is looking to acquire big box, power centers or supermarket-anchored centers throughout the southeastern U.S. The sites must be at least 40,000 sq.ft. The company prefers problem properties, but dark anchored sites will also be considered. For more information, contact Gary R. Williams, W.A.&S. Partners I, LLC, 17597 Rockefeller Circle, Suite 4, Fort Myers, FL 33967; 239-437-0302; Email: gwillli1122@aol.com.
Weingarten Realty Investors acquired a portfolio of five retail properties, including four properties in metro Atlanta, GA and one in Sanford, FL. The acquisition adds more than 900,000 sq.ft. to Weingarten’s portfolio and represents a total investment of $183 million. The centers include: Brookwood Marketplace, a 375,000 sq.ft. center anchored by SuperTarget, Home Depot and OfficeMax in Atlanta, GA; Camp Creek Phase II, a 230,000 sq.ft. center anchored by SuperTarget and Circuit City in Atlanta, GA; Lakeside Marketplace, a 330,000 sq.ft. center anchored by SuperTarget, Circuit City, Ross Dress For Less, Petco and OfficeMax in Acworth, GA; Publix at Princeton Lakes, a 70,000 sq.ft. center anchored by Publix in Atlanta, GA and MarketPlace at Seminole Towne Center, a 550,000 sq.ft. center anchored by SuperTarget, Circuit City, Linens ‘N Things, Marshalls and Petco in Sanford, FL. For more information, contact Weingarten Realty Investors, 2600 Citadel Plaza Drive, Suite 300, Houston, TX 77008; 713-866-6000, Fax 713-866-6049; Web site: www.weingarten.com.
Carolina Realty Advisors is selling a 42,440 sq.ft. center located at the intersection of Albermarle Road and Lawyers Road in Charlotte, NC for $2.39 million. The center is situated on a land area of 4.31 acres and is currently 100% occupied. It consists of four tenants and an outparcel with a ground lease. For more information, contact Rob Cassam, Carolina Realty Advisors, 201 West Morehead Street, Suite 200, Charlotte, NC 28202; 800-587-4066 or 704-442-1774; Email: robcass@ix.netcom.com; Web site: www.charlottencproperty.com.
Ruggiero Development Group is selling a land area of 2.44 acres in Gloucester Township, NJ for $1.4 million. The site includes a retail building of 12,058 sq.ft. and a bank building of 3,595 sq.ft. For more information, contact Louis J. Stackeni, Ruggiero Development Group, 1786 Wilmington Pike, Suite 300, Glen Mills, PA 19342; 484-843-4814, Fax 610-459-4151; Email: lstackeni@rdgllc.com; Web site: www.rdgllc.com.
Foundation Commercial is selling a land area of 14 acres located in St. Louis, MO. The center is located adjacent to a proposed Wal*Mart. For more information, contact John T. Beckman, Foundation Commercial, 618 Spirit Drive, Suite 250, St. Louis, MO 63005; 314-862-4220, Fax 636-532-7847.
Prudential Sanders Realty is selling the following sites: an Eckerd store located on Washington Road in East Point, GA for $2.196 million with a Cap rate of 7.75%; a Bed Bath & Beyond, Petco and Dick’s Sporting Goods in Topsham, ME for $15.36 million with a Cap rate of 6.90%; an Eckerd located on North Delsea Drive in Glassboro, NJ for $2.314 million with a Cap rate of 7.40%; and a Taco Bell located on South State Road 37 in Elwood, IN for $1.542 million with a Cap rate of 7.75%. For more information, contact William Medina, Prudential Sanders Realty, 74 Tower Street, Lake Placid, FL 33852; Email: w.medina@earthlink.net.
1031tax.com is representing a buyer looking for a single tenant NNN leased property with a minimum price of $20 million. For more information, contact Alan Fruitman, 1031tax.com, 800-454-0015, Fax 866-288-0837; Email: alan@1031tax.com; Web site: www.1031tax.com.
NAI Batten & Moore, LLC is selling a 14,820 sq.ft. Walgreens store located at the southwest corner of West Williams Street and Olive Chapel Road in Apex, NC for $6.030 million with a Cap rate of 6.0%. The store is situated on a land area of 2.8 acres and has a 25-year lease with ten, five-year renewal options. For more information, contact Dunston Powell, NAI Batten & Moore, LLC, 49 Immigration Street, Charleston, SC 29403; 843-576-0123; Email: dunston@battenandmoore.com.
Capital Pacific is selling a 6,726 sq.ft. Kauffman Tire store located in Brandon, FL for $2.46 million with a Cap rate of 7.25%. The store has a primary term of 20 years with four, five-year options and a net operating income of $178,372. The building is situated on a land area of 1.21 acres and is adjacent to a strip center. Area demographics include a population within five miles earning $67,364 as the average household income. For more information, contact Chris Kostanecki or Chris Peters, Capital Pacific, Four Embarcadero Center, Twenty Fifth Floor, Suite 2570, San Francisco, CA 94111; 415-274-2701/2702/2703, Fax 415-274-2710; Emails: ckostanecki@capitalpacific.com and cpeters@capitalpacific.com; Web site: www.capitalpacific.com.
Integrity Commercial Realty is selling The Hamilton House, a 1,127 sq.ft. building located on North Main Street in Grapevine, TX for $295,000. For more information, contact Jennifer Gray, Integrity Commercial Realty, 1400 Civic Place, Suite 223, Southlake, TX 76092; 817-912-0252 Ext. 102, Fax 817-912-0253; Email: jennifer@integritycommercialrealty.com.
Sage Property Investments, Inc. is seeking to acquire regional shopping centers of at least 20,000 sq.ft. nationwide, with a focus on the Dallas/Fort Worth, TX area and Raleigh, NC market. For more information, contact Matt Pitcher, Sage Property Investments, Inc., PO Box 1774, Skyland, NC 28776; 828-329-0128, Fax 866-308-9799; Email: matt@sagepropertyinvestments.com.
Orion Investment Management Ltd. Corp. is looking to acquire net leased investments anywhere in the U.S. The preferred deal size is about $4 million to $10 million. The company also is selling a 30,054 sq.ft. Office Depot store located on North Stemmons Freeway in Dallas, TX for $5.8 million. The site is located near Love Field Airport, hotels and the Dallas Convention Center. For more information, contact Joseph A. Sanz, or Allan White, Orion Investment Management Ltd. Corp., 9155 South Dadeland Boulevard, Suite 1602, Miami, FL 33156; 305-725-7088, 305-804-3812 or 305-710-8400; Emails: jsanz@orionmiami.com and awhite@orionmiami.com.
Marcus & Millichap Real Estate Investment Brokerage Co. is marketing Highland Plaza Shopping Center, a 247,146 sq.ft. center located off Interstate 271 at Wilson Mills Road in Highland Heights, OH for $40 million. The center is anchored by Home Depot, Kohl’s and Dick’s Sporting Goods. The site has an average daily traffic count of 36,000 vehicles. For more information, contact Tony Sekulovski or Mark Luttner, Marcus & Millichap Real Estate Investment Brokerage Co., 333 West Wacker Drive, Suite 200, Chicago, IL 60606; 312-327-5400, Fax 312-327-5410; Web site: www.marcusmillichap.com.
United Equities Corp. is looking to acquire sites nationwide with the following criteria: single tenant, net leased, retail, industrial or office properties with lease terms of at least 15 years remaining for a minimum of $2 million with no maximum. The company can acquire sites on all-cash deals and is looking for properties in in-fill areas with populations greater than 100,000. For more information, contact Arnold Kramer, United Equities Corp., 2 North LaSalle Street, Suite 1776, Chicago, IL 60602; 312-332-5652 Ext. 88, Fax 312-803-9652; Email: united@ameritech.net.
Commercial Investment Realty Group, Inc. is looking to acquire a shopping center or office building in Palm Beach County, FL. The company is representing a client with over $5 million and another with over $8 million. For more information, contact Maureen O’Sullivan, Commercial Investment Realty Group, Inc., 561-262-8557.
KMO Development Group, Inc. is selling the following PetSmart locations in TX: a store in Midland for $4.685 million with a Cap rate of 6.40%. The store has 15 years remaining on its lease and is located near Big 5 Sporting Goods, Dollar Tree, Circuit City and Wal*Mart Supercenter; and a store in Killeen for $4.6 million with a Cap rate of 6.40%. The 25,778 sq.ft. store has 15 years remaining on its lease with 3% rent increases every 30 months. Area retail includes Target, Toys “R” Us, Circuit City, Office Depot, Killeen Mall, Lowe’s Home Improvement, Home Depot, Hobby Lobby and Wal*Mart Supercenter. The company also is selling the following sites: a Boston’s Gourmet Pizza in Woodbury, MN for $4 million with a Cap rate of 8.25%; a Boston’s Gourmet Pizza in Evansville, IN for $3.414 million with a Cap rate of 8.25%; a Popeyes Chicken & Biscuits in Tulsa, OK for $1.507 million with a Cap rate of 8.00%; a Popeyes Chicken & Biscuits in Emporia, KS for $1.244 million with a Cap rate of 7.65%; a Back Yard Burgers restaurant in Charlotte, NC for $2.367 million with a Cap rate of 7.85%; a Back Yard Burgers restaurant in Greeneville, TN for $1.633 million with a Cap rate of 8.25% and an RJ Gator’s in Jacksonville, FL for $3.933 million with a Cap rate of 8.50%. 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.
Judd Lofchie & Associates, Inc. is selling a land area of 0.94 acres at the intersection of U.S. Route 34 and Washington Street in Oswego, IL. The site has an average daily traffic count of 30,000 vehicles. Demographics include a trade-area population of 101,000 earning $86,000 as the average household income. For more information, contact Judd Lofchie, Judd Lofchie & Associates, Inc., 1585 Beverly Court, Suite 129, Aurora, IL 60502; 630-236-3600 Ext. 3, Fax 630-236-3525; Email: judd@jlholdings.com; Web site: www.jlholdings.com.
Capital B Realty, LLC is selling a Family Dollar store located in Hugo, OK for $795,000. The site has a new 10-year lease with bumps and five-year options plus 3% override. Area retail includes Wal*Mart and a bank branch. For more information, contact Nicholas Baskin, Capital B Realty, LLC, 656 East Lake Drive, Livingston, TX 77351; 936-327-4345, Fax 936-327-4321; Email: nicholasbaskin@livingston.net; Web site: www.capitalbrealty.com.
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