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Buyers & Sellers
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Buyers & Sellers RCG Ventures acquired the following retail centers: Raeford-Hoke Village in Raeford, NC; Four-Points Sheraton in Kansas City, MO; Jasper Plaza in Jasper, AL; White Pine Shopping Center in White Pine, TN; Oak Tree Plaza in Morristown, TN and Main Crossing in Paris, TX. For more information, contact Michael McMillen or Jim O’Donnell, RCG Ventures, 2970 Peachtree Road, Suite 805, Atlanta, GA 30305; 404-816-5454 Ext. 10/11; Emails: mikem@rcgventures.com and jimo@rcgventures.com; Web site: www.rcgventures.com.
Bosshardt Realty Services, Inc. is selling an outparcel to a Wal*Mart Supercenter located in Snellville, GA. For more information, contact John Thomas, Bosshardt Realty Services, Inc., 352-538-4453, Fax 352-378-2737; Email: johnthomas@bosshardtrealty.com.
America Realty & Investment is selling a 10,300 sq.ft. center located in the Los Angeles, CA area for $3.59 million with a Cap rate of 6.3%. The center is situated on a land area of 1.06 acres. For more information, contact Jimmy Pyon, America Realty & Investment, 23232 Lyons Avenue, Newhall, CA 91321; 661-670-7344; Email: jimmy@hotmail.com.
Millennium Properties, Inc. is selling two Wal*Mart-anchored outlots in Savoy, IL. The spaces can accommodate two 5,000 sq.ft. strip centers. For more information, contact Susan B. Silver, Millennium Properties, Inc., 20 South Clark Street, Suite 630, Chicago, IL 60603; 312-338-3001, Fax 312-338-3008.
Redd Realty Services is selling five one-acre outlots and one two-acre site at Blue Angel Exchange at the intersection of Highway 98 and Blue Angel Parkway in Pensacola, FL. The site is anchored by CVS and totals eight acres. For more information, contact Will Lybrook, Redd Realty Services, 4200 Northside Parkway, Building 10, Suite 101, Atlanta, GA 30327; 404-841-0123, Fax 404-841-0127; Email: will@reddrealty.com; Web site: www.reddrealty.com.
J.W. Franklin Co. is selling a land area of 11.16 acres next to a Wal*Mart Supercenter in Maryville, MO. The site is priced at $1.50 psf and is located at the intersection of Business 71 and South Main Street. For more information, contact Jeff Franklin, J.W. Franklin Co., PO Box 573, Warrensburg, MO 64093; 660-747-9854, Fax 660-747-3407; Web site: www.jwfranklin.com.
Bedore International is selling a land area of 3.98 acres in Las Vegas, NV for $6 million. The site is tenanted by 7-Eleven and Purrfect Auto. For more information, contact David Howes, Bedore International, 8691 West Sahara Avenue, Suite 210, Las Vegas, NV 89117; 702-873-3100, Fax 702-873-3131.
The Tower Group is selling a 9,100 sq.ft. Dollar General store located in Highway 715 in Lecompte, LA for $582,000 with a Cap rate of 8.25%. The site has a 10-year lease with five, five-year options. For more information, contact John D. Murphy, The Tower Group, 251-968-3585, Fax 251-968-8285; Email: jdmurphy@gulftel.com.
Upland Real Estate Group, Inc. is selling an Ashley Furniture store located on Rosedale Highway in Bakersfield, CA for $9,631,226 with a Cap rate of 7.75%. The site has a net operating income of $746,420. Area retail includes Target, Home Depot, Best Buy, Office Depot, Petco, Kohl’s, Starbucks and Pier 1 Imports. For details, contact Art R. Brown, Upland Real Estate Group, Inc., 3800 Wells Fargo Center, 90 South Seventh Street, Minneapolis, MN 55402; 612-465-8522, Fax 612-376-4489; Email: art@upland.com; Web site: www.upland.com.
Weiss Realty Co., Inc. is selling a 5,000 sq.ft. restaurant space located on Broadway in Kings Bridge, NY for $1.999 million. The company also is selling a 7,000 sq.ft. Tracy’s 9-Mile House restaurant located on Bergen Turnpike in Little Ferry, NJ for $3.5 million. The 1.5-acre site has an average daily traffic count of 17,000 vehicles. The company also is selling a 15,000 sq.ft. gas station located on Cedar Lane in Teaneck, NJ. The company also is selling a 20,517 sq.ft. site located at the southwest corner of Salem Road, Vauxhall Road an Alden Terrace in Union, NJ for $1.5 million. The site has drive-thru capabilities. For more information, contact Christopher Morgan or George Gines, Weiss Realty Co., Inc., 250 Moonachie Road, Moonachie, NJ 07074; 201-814-1800, Fax 201-814-1811.
Legend Properties is selling a land area of 14.5 acres, as well as a 10,000 sq.ft. building with six existing tenants, on County Road 519 in White Township, NJ. Area demographics include a population of 38,044 within seven mile earning $82,092 as the average household income. For more information, contact Peter Jones, Legend Properties, Inc., 517 Route 1 South, Suite 3108, Iselin, NJ 08830; 732-602-0707, Fax 732-602-9111; Email: pjones@lpre.com; Web site: www.lpre.com.
Hilco Real Estate, LLC is selling a 3,275 sq.ft. Hardees store located in Hamilton, AL for $1.156 million with a Cap rate of 8%. The building is situated on a land area of 42,000 sq.ft. For more information, contact Andrew S. Becker, Hilco Real Estate, LLC, One Northbrook Place, 5 Revere Drive, Suite 320, Northbrook, IL 60062; 847-504-2464, Fax 847-897-0788; Email: abecker@hilcorealestate.com; Web site: www.hilcorealestate.com.
R.J. Brunelli & Co., Inc. is selling a land area of 4.28 acres on Route 34 in Aberdeen, NJ. Area demographics include a population of 135,862 within five miles earning $115,692 as the average household income. The company also is selling a two-story building and a 2,820 sq.ft. retail building that contains a retail showroom, office space and six existing garage bays on New Brunswick Avenue in Fords, NJ. For more information, contact Martin Yaged, R.J. Brunelli & Co., Inc., 400 Perrine Road, Suite 405, Old Bridge, NJ 08857; 732-721-5800, Fax 732-721-9241; Email: myaged@njretailrealty.com; Web site: www.njretailrealty.com . For more information regarding the site in Fords, NJ, contact Ron DeLuca; Email: rdeluca@njretailrealty.com.
Property Specialists, Inc. is selling the following two centers located in the Tampa Bay, FL market: a 28,209 sq.ft. center located on U.S. Highway 19 in Pinellas for $5.8 million. The center has a net operating income of $387,000; and a 35,510 sq.ft. center located on North Dale Mabry in Hillsborough for $6.5 million. The center has a net operating income of $426,000. Some features of the center include: 100% leased NNN, turnkey, tenants paying actual operating expenses and room to build at the Pinellas center. For more information, contact Neil Mirchandani, Property Specialists, Inc., 6401 First Avenue South, St. Petersburg, FL 33707-1301; 727-384-2334, Fax 727-384-5255; Email: neilm@psiflorida.com.
Massey Knakal Realty Services is selling 30,000 sq.ft. of automotive/retail buildings on Deer Park Avenue in North Babylon, NY. The property consists of a one-story, four-store retail building and a one-story automotive building. The projected net operating income for the site is $156,784. For more information, contact Joseph Amendola, Massey Knakal Realty Services, 118-35 Queens Boulevard, 14th Floor, Forest Hills, NY 11375; 516-267-7888 Ext. 2110, Fax 718-275-5478; Email: jamendola@masseyknakal.com.
Lamar Cos. is selling Eastgate Plaza, a 185,000 sq.ft. center located on North 9th Avenue in Pensacola, FL. The center has a net operating income of $1.23 million and is anchored by Party City, Winn-Dixie, Beall’s Outlet, Powerhouse Gym, Dollar General and Guitar Center. The company specializes in acquiring centers nationwide, preferring sites with cash flow and upside potential, with a GLA of 100,000 sq.ft. throughout CO, FL, IN, NC, NJ, OH, PA, SC and TX and a GLA of 150,000 sq.ft. in all other regions. There is no maximum limit for GLA. Lamar looks for value-added sites and the preferred demographics include a population of at least 30,000 within five miles earning $40,000 as the minimum household income. Lamar is an all-cash buyer and can close within 30 to 60 days from the date the offer is accepted. For more information, contact Larry Lang, Lamar Cos., 10901 Toller Drive, Suite 105, Littleton, CO 80127; 303-904-1122, Fax 303-904-1133; Web site: www.lamarcompanies.com.
Foundation Commercial is selling a land area of approximately 12 acres, adjacent to a Wal*Mart Supercenter, in St. Louis, MO. 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.
DLC Management Corp. acquired Tri-City Plaza, a 300,038 sq.ft. center located at the intersection of Interstate 84, Route 83 and Route 30 in Vernon, CT. The center is anchored by Price Chopper Supermarket, T.J. Maxx, HomeGoods and Staples. Cotenants include Lenscrafters, Sally Beauty, Payless, Radio Shack, KB Toys and Dollar Tree. Demographics include 47,664 households within five miles earning $68,351 as the average income. For more information, contact Daniel Taub, DLC Management, 580 White Plains Road, Tarrytown, NY 10591; 866-352-6468 or 914-631-3131, Fax 914-631-6533; Email: dtaub@dlcmgmt.com; Web site: www.dlcmgmt.com .
Cullinan Properties, Ltd. is selling outlots at East Court Village, a center located in Pekin, IL. Area retail includes Wal*Mart, Bergner’s, Hobby Lobby, Big Lots, Starbucks, Goody’s, Dollar Tree, Culver’s, Bob Evans, Hibbett’s Sporting Goods, Steve & Barry’s, Applebee’s and Farm & Fleet. The outlots range in size from 0.57 acres to 5.11 acres and range in sale price from $7 psf to $11 psf. For more information, contact Kathleen Cullinan, Cullinan Properties, Ltd., 1333 Burr Ridge Parkway, Burr Ridge, IL 60527; 630-286-0179, Fax 630-286-0175; Email: kcullinan@cullprop.com.
Coldwell Banker Commercial Bennett Williams is selling Colonial Crossings, a 17,200 sq.ft. center located just off Route 22 in Harrisburg, PA. Area retail includes Colonial Park Mall and Shoppes at Susquehanna Marketplace. Area demographics include a population of 143,083 within five miles earning $53,569 as the average household income. For more information, contact Brad Rohrbaugh or Chad Stine, Coldwell Banker Commercial Bennett Williams, 110 North George Street, 4th Floor, York, PA 17401; 717-843-5555, Fax 717-843-5550; Email: brohrbaugh@bennettwilliams.com and cstine@bennettwilliams.com.
Capital Commercial Real Estate Group is looking to acquire strip centers nationwide for up to $200 million. The centers must have national tenants. For more information, contact Claudia Gonzalez, Capital Commercial Real Estate Group, 786-277-5419; Email: gonzalezclaudiag@yahoo.com.
Colliers L&A is selling a land area of 1.446 acres at the intersection of Cedar Lane and Chambers Street in Hamilton, NJ. For more information, contact Richard L. Soloff, Colliers L&A, 399 Market Street, 3rd Floor, Philadelphia, PA 19106; 215-928-7527 or 215-925-4600; Email: richard.soloff@colliers.com.
Marcus & Millichap Real Estate Investment Brokerage Co. is selling the following sites: Sedgefield Crossing, a 115,732 sq.ft. center located at the northeast corner of High Point Road and Groometown Road in Greensboro, NC for $7.3 million with a Cap rate of 8.34%. The site has an average daily traffic count of 45,000 vehicles. The center is anchored by Family Dollar, Hancock Fabrics and U.S. Postal Service; a land area of 4.85 acres on Hurffville Road in Deptford, NJ for $3.5 million with a Cap rate of 5.36%. Area retail includes Jerry’s Carpet, Hoveround, Cherrywood, Steve’s Mobile, Nuwave Marine, Coco Faustino, Porter’s Fire, Laminate Creations and Joe’s Service; A 64,833 sq.ft. center located on Lincoln Highway East in Lancaster, PA for $10.534 million with a Cap rate of 6.78%. The site has an average daily traffic count of 37,000 vehicles. Area retail includes Target. The center is tenanted by Adidas, Tuesday Morning, Oreck Outlet and Waffle House; a Citibank site located at the intersection of 13th and Arch Street in Philadelphia, PA for $3.4 million with a Cap rate of 5.89%; a Walgreens store located at the intersection of Bustleton and Byberry Road in Philadelphia, PA for $8.692 million with a Cap rate of 6.50%. The store has a net operating income of $565,000; a Rite Aid store located in Erie, PA for $4.22 million with a Cap rate of 7.50%. The store has a net operating income of $316,524; an Advance Auto Parts store located on West Ridge Pike in Trooper, PA for $2.4 million with a Cap rate of 8.15%. Area demographics include a population within one mile earning $71,000 as the average household income. The site has an average daily traffic count of 20,000 vehicles and a net operating income of $195,660; Hunting Park Plaza, a center located on North Broad Street in Philadelphia, PA for $4.425 million with a Cap rate of 7.72%. There also is the potential to add another 5,000 sq.ft. to the site, which has a net operating income of $341,417; a Family Dollar store located on North Broad Street in Philadelphia, PA for $1.42 million with a Cap rate of 7.06%. Area demographics include a population of 53,823 within one mile. The site has a net operating income of $100,182; and Tecport Retail center located on Friendship Road in Harrisburg, PA for $4.75 million with a Cap rate of 6.56%. The site has an average daily traffic count of 87,000 vehicles and a net operating income of $311,624. Tenants include Fuddruckers, Isaac’s, Tuscano’s and Cornerstone Coffee. For more information, contact Marcus & Millichap Real Estate Investment Brokerage Co., 1628 JFK Boulevard, Suite 1200, Philadelphia, PA 19103; 215-557-0900, Fax 215-557-0966; Web site: www.marcusmillichap.com.
Discovery Realty is selling a freestanding Starbucks store located in IA for $1.024 million with a Cap rate of 6.5%. The store has a lease term of 30 years, including four, five-year options with increases. For more information, contact Ray D. Kreger, Discovery Realty, 621 NW 53rd Street, Suite 240, Boca Raton, FL 33487; 561-276-1031; Email: investments@discoveryrealty.com.
NAI Mertz is selling a 3,800 sq.ft. building located at the intersection of Old York Road and Greenwood Avenue in Jenkintown, PA for $750,000. Area demographics include a population of 544,077 within five miles earning $44,277 as the median household income. The company also is selling a land area of 0.8367 acres on Kidder Street in Wilkes-Barre Township, PA for $895,000. The site has an average daily traffic count of 30,000 vehicles. Area demographics include a population of 116,132 within five miles earning $42,488 as the average household income. The company also is selling a 30,000 sq.ft. retail building located on Warren Avenue in Cherry Hill, NJ for $1.55 million. Area demographics include a population of 313,318 within five miles earning $69,768 as the average household income. The company also is selling a 2,200 sq.ft. building located on Main Street in the Manayunk section of Philadelphia, PA for $850,000. Area demographics include a population of 689,696 within five miles earning $51,877 as the average household income. Area retail includes Nicole Miller, Banana Republic, Pottery Barn, Restoration Hardware, Somnia, Le Bus, Starbucks, Hikaru, Jake’s Restaurant, Derek’s and Zesty’s Restaurant. For more information regarding the site in Jenkintown and the site on Main Street in the Manayunk section of Philadelphia and in Cherry Hill, NJ, contact Marc Cutler or Rick Gordon, NAI Mertz, 21 Roland Avenue, Mt. Laurel, NJ 08054; 215-221-1100 or 856-234-9600 for Rick Gordon, Fax 856-234-4957; Emails: marc.cutler@naimertz.com and rick.gordon@naimertz.com; Web site: www.naimertz.com. For more information regarding the site in Wilkes-Barre, contact Carolyn Mertz, NAI Mertz of PA, 350 Laird Street, Suite 110, Wilkes-Barre, PA 18602; 570-820-7700 Ext. 203, Fax 570-820-8280; Email: carolyn.mertz@naimertz.com.
Paramount Realty Services, Inc. is selling Tile Place Center locations on Route 35 in Ocean, NJ and on Route 70 in Brick, NJ for a combined price of $8.5 million. The Ocean site has a GLA of 32,000 sq.ft. and is in a center tenanted by Fabric Collection and Sherwin-Williams. Area retail includes Wegmans, Foodtown, Target, Costco, Macy’s, Toys “R” Us, Home Depot and Lowe’s Home Improvement. The Brick location has a GLA of 20,000 sq.ft. and is in a center tenanted by Alley Oop and Party City. Area retail includes Old Navy, ShopRite, Best Buy, Barnes & Noble, Sports Authority and Bed Bath & Beyond. The company also is selling a 60,000 sq.ft. center located on East Ridge Road in Rochester, NY for $3.2 million with a pro forma Cap rate of 13.25%. The site has a current net operating income of $165,000. For more information, contact Maurice Zekaria, Paramount Realty Services, Inc., 1195 Route 70, Suite 2000, Lakewood, NJ 08701; 732-961-8112 or 732-886-1500, Fax 732-886-1690; Email: mzekaria@prs-nj.com.
Silbert Realty & Management Co., Inc. is selling a 9,757 sq.ft. building, plus a 1,740 sq.ft. basement, situated at the intersection of Miln Street and North Avenue West in Cranford, NJ for $1.799 million. The building is situated on a land area of 0.22 acres. Area demographics include a population of 145,145 within three miles earning $71,175 as the median household income. For more information, contact Brian S. Silbert, Silbert Realty & Management Co., Inc., 85A Division Avenue, PO Box 406, Millington, NJ 07946; 908-604-6900, Fax 908-604-2030; Email: info@silbertrealestate.com; Web site: www.silbertrealestate.com.
Trustreet is selling the following sites: a Bennigan’s restaurant on Park Meadows Drive in Lone Tree, CO for $3.645 million with a Cap rate of 7.50%; a Burger King located on Tanger Drive in North Branch, MN for $1.651 million with a Cap rate of 7.00%; a Captain D’s restaurant located on Highway 51 in Covington, TN for $1.032 million with a Cap rate of 7.20%; a Checkers restaurant located on East 49th Street in Hialeah, FL for $1.719 million with a Cap rate of 6.95%; a Chili’s restaurant located on Two Notch Road in Columbia, SC for $3.846 million with a Cap rate of 7.10%; a Denny’s restaurant located on Arsenal Street in Watertown,
NY for $2.82 million with a Cap rate of 8.00%; a KFC restaurant located on Fulton Street West in Grand Rapids, MI for $1.15 million with a Cap rate of 9.50%; a Perkins restaurant located on West Layton Avenue in Milwaukee, WI for $1.689 million with a Cap rate of 7.50%; a Ponderosa restaurant located on U.S. Highway 40 in Blue Springs, MO for $2.19 million with a Cap rate of 9.00%; a Rally’s restaurant located on North Post Road in Indianapolis, IN for $726,154 with a Cap rate of 7.15%; a Starbucks coffee shop located on North Belt Highway in St. Joseph, MO for $857,143 with a Cap rate of 7.00%; a Steak & Ale restaurant located on North Interstate 45 in Conroe, TX for $2.163 million with a Cap rate of 8.00%; a Taco Bell restaurant located on Romig Road in Akron, OH for $1.132 million with a Cap rate of 7.10%; a Taco Bell/Long John Silver’s restaurant located on West Prospect Road in Ashtabula, OH for $2.241 million with a Cap rate of 6.65%; and a Wendy’s restaurant located on East Walton Boulevard in Pontiac, MI for $1.599 million with a Cap rate of 7.30%. For more information, contact Trustreet, Trustreet Center at City Commons, 450 South Orange Avenue, Orlando, FL 32801; 407-540-2222; Web site: www.trustreet1031.com.
GMH Capital Partners is offering an investment opportunity for Oxford Square, a 119,893 sq.ft. center located on Route 10 in Oxford, PA. The center is currently 80% occupied and is anchored by Redner’s Warehouse Market, Rite Aid, First Financial Bank, Burger King, Tractor Supply and Dollar General. The company also is offering an investment opportunity for Powerline Commerce Center, a 73,229 sq.ft. center located at the intersection of Copans Road and Powerline Road in Pompano Beach, FL. The center is currently 78% occupied, has a net operating income of $519,102 and is situated on a land area of 5.92 acres. The company also is selling Priest Point, a 105,335 sq.ft. center located on Bell Road in Nashville, TN for $10.8 million with a Cap rate of 7%. The site has a net operating income of $757,712 and is currently 100% occupied. The company also is offering an investment opportunity for Fairview Heights Plaza, a 167,491 sq.ft. center located along Ludwig Drive in Fairview Heights, IL. The center is currently 98% occupied and is anchored by Gordmans, Guitar Center, The Sports Authority, Bally Total Fitness and shadow-anchored by Circuit City. The company also is offering an investment opportunity for Bayshore Mall, a 161,088 sq.ft. mall located along Bayshore Road in North Cape May, NJ. The center is currently 94% occupied and is tenanted by Acme, Big Lots and World Gym. For more information regarding Oxford Square and Bayshore Mall, contact Eric Mattson or Morgen Busch, GMH Capital Partners, 10 Campus Boulevard, Newtown Square, PA 19073; 610-355-8186/8292, Fax 610-355-8386/8592; Emails: emattson@gmh-inc.com and mbusch@gmh-inc.com; Web site: www.gmhcp.com . For more information regarding Powerline Commerce Center or Fairview Heights Plaza, contact Bill Tourtellotte or Shawn Lubic, GMH Capital Partners, 10 Campus Boulevard, Newtown Square, PA 19073; 610-355-8097/8172, Fax 610-355-8397/8472; Emails: wtourtellotte@ghmcp.com and slubic@gmhcp.com. For more information regarding Priest Point, 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.
Investment Real Estate Associates is selling Metro Square Shopping Center, a 78,000 sq.ft. center located on Reisterstown Road in Owings Mills, MD for $15.914 million with a Cap rate of 8.0%. The center is currently 100% occupied, is anchored by Super-Valu and has a net operating income of $1,272,218. For more information, contact Tom Porter, Investment Real Estate Associates, 1200 Brickell Avenue, Suite 1200, Miami, FL 33496; 917-882-2487, Fax 305-358-1562; Email: t.porter@yahoo.com.
Schostak Brothers & Co., Inc. acquired a Home Depot store in Plymouth, MN. For more information, contact Patrick Windley, Schostak Brokers & Co., Inc., PO Box 311, Granville, OH 43023; 740-587-1485; Email: windley@schostak.com.
Sperry Van Ness is selling a Mobil convenience station located in Dellwood, MO for $3.49 million with a Cap rate of 7.75%. The site has a net operating income of $270,450 and an absolute NNN lease. Sperry Van Ness Sentinel Realty Advisors, Inc. is selling a Walgreens store located in Lakewood, CO for $3.695 million. The company also is selling the following sites: a 10,908 sq.ft. Eckerd store located on East Main Street in Spartanburg, SC for $3.725 million with a Cap rate of 7.21%. The site is shadow anchored by Ross, Petco, Publix, Office Depot, Marshalls and Fresh Market; a 13,813 sq.ft. Eckerd store located on News Road in Williamsburg, VA for $6.13 million with a Cap rate of 6.55%. The site is shadow anchored by Target, Ukrops and T.J. Maxx; and Kenton Place, a 56,970 sq.ft. center located on Kenton Road in Charlotte, NC for $9.375 million. The site has a net operating income of $677,717 and is currently 98% occupied. The site is shadow anchored by Lowes Foods. The company also is selling Eastway Plaza, a 216,420 sq.ft. center located on Buffalo Road in Erie, PA. The center has a net operating income of $287,689 and is tenanted by Dollar General, Fashion Bug, Radio Shack, Advance America, H&R Block and The UPS Store. The company also is selling Riverside Plaza, a 26,747 sq.ft. center located on Riverside Drive in Johnson City, NY. The center is currently 100% leased and is anchored by Bally Total Fitness. The center has a net operating income of $233,543. For more information, contact Robert Levin, Sperry Van Ness, 314-655-2327; Email: levinr@svn.com. For more information regarding the Walgreens store, contact Tom Vincent, Sperry Van Ness Sentinel Realty Advisors, Inc., 847-963-1031, Fax 847-358-7634; Web site: www.svn.com. For more information regarding the Eckerd stores and Kenton Place, contact Troy A. Legge, Sperry Van Ness, 13900 Conlan Circle, Suite 110, Charlotte, NC 28277; 704-759-3800, Fax 704-759-3801; Email: troy.legge@svn.com; Web site: www.svnlighthouse.com. For more information regarding Eastway Plaza and Riverside Plaza, contact Joseph C. French, Sperry Van Ness, 914-682-6868; Email: frenchj@svn.com.
Skyline Co. is looking to acquire one-acre service station pad sites throughout CA. The sites must be a hard corner with good traffic counts. 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 .
Julius M. Feinblum Real Estate, Inc. is selling an 18,000 sq.ft. building located on Davis Boulevard in Naples, FL. For more information, contact David Lucas, Julius M. Feinblum Real Estate, Inc., 516-844-8890 or 800-791-8936, Fax 516-844-8895; Emails: dlucas@furniturerealestate.com; Web site: www.funrniturerealestate.com.
Faris Lee Investments completed the $64.3 million sale of ITC Crossing South Shopping Center to SCI Real Estate Investments. The center is located on International Drive South in Mount Olive, NJ. The 366,000 sq.ft. Wal*Mart-anchored center, situated on a land area of 46.73 acres, is 100% leased and tenants include Lowe’s Home Improvement, Michaels, Bed Bath & Beyond, T.J. Maxx, McDonald’s, Wendy’s, Babies ‘R’ Us, PetSmart and Old Navy. For more information, contact Faris Lee Investments, 2301 Dupont Drive, Suite 100, Irvine, CA 92612; 949-221-1800, Fax 949-221-1830; Web site: www.farislee.com.
Allegro Realty Advisors, Ltd. is representing a client looking to acquire $9 million in retail property within a 50-mile radius of Detroit, MI. The client is looking for existing, cash-flowing properties in stable to growing areas and is willing to look at multiple properties to reach the $9 million requirement. For more information, contact Adam P. Bradford, Allegro Realty Advisors, Ltd., 8111 Rockside Road, Suite 250, Cleveland, OH 44125; 216-524-0710 Ext. 109, Fax 216-524-0711; Email: abradford@allegrorealty.com; Web site: www.allegrorealty.com.
CB Richard Ellis, Inc. is selling a 22,000 sq.ft. building located on Macarthur Road in Whitehall, PA for $1.975 million. The building is situated on a land area of 0.71 acres. For more information, contact Patrick J. McCabe, CB Richard Ellis, Inc., 1200 Liberty Ridge Drive, Suite 320, Wayne, PA 19087-5612; 610-251-5122, Fax 610-889-9168; Email: patrick.mccabe@cbre.com.
Blue Ridge Capital, LLC is seeking value-added or high yield retail redevelopment opportunities. The company is currently redeveloping projects in the following markets: Demopolis, AL; Russellville, AL; Atlanta, GA; Jackson, MS; Greenville, SC; Sumter, SC and Dayton, TN. For more information, contact Fritz McPail or Louise Jennings, Blue Ridge Capital, LLC, 340 East Paces Ferry Road, Atlanta, GA 30305; 404-364-9094, Fax 404-364-9095; Emails: fritz@blueridgecapital.com and louise@blueridgecapital.com; Web site: www.blueridgecapital.com.
Wiston Retail Group is selling Ocoee Crossing on Keith Street in Cleveland, TN. The 3,800 sq.ft. center is anchored by Moe’s Southwest Grille and Bruster’s Ice Cream and is 100% leased. Asking price is $1.23 million with a Cap rate of 7.5%. For more information, contact Stuart Wiston, Wiston Retail Group, 214 Sequoyah Trail, Hendersonville, TN 37075; 615-822-5757, Fax 615-634-5787; Email: swiston@wistonretail.com.
Coldwell Banker Commercial Triad Realtors is selling a land area of 14 acres on Peters Creek Parkway in Winston-Salem, NC. The site has seven acres of land zoned for retail/restaurant use, as well as some office space and one pad approved for a drive-thru restaurant. For more information, contact Paul Jones, Coldwell Banker Commercial Triad Realtors, 285 South Stratford Road, Winston-Salem, NC 27103; 336-748-5342, Fax 336-748-5363; Email: paul.jones@cbctriad.com.
Phase One Realty, Inc. is looking for 1031 replacement properties from $1 million to $5 million throughout AZ, CA, CO, NM, OK, TX and UT. The company prefers single tenant NNN deals with a minimum of five years remaining on the lease. For more information, contact Jim Bordegaray, Phase One Realty, Inc., PO Box 22865, Santa Fe, NM 87502; 505-986-2948, Fax 505-988-5134; Email: jb@phaseonerealty.com.
Henzlik-Oliver Real Estate Cos., LLC acquired a 41,774 sq.ft. former Wal*Mart in Colby, KS. Orscheln Farm & Home signed a long-term lease to occupy the entire building. Additionally, one pad site of approximately 46,000 sq.ft. along Range Avenue has been created. For more information, contact Tyler S. Oliver, Henzlik-Oliver Real Estate Cos., 13356 Metcalf, Overland Park, KS 66213; 913-438-9900, Fax 913-438-9994; Web site: www.henzlikoliver.com.
Hekemian & Co. acquired the following sites: The Rotunda, a mixed-use project located in Baltimore, MD for $130 million. The existing center has a GLA of 230,000 sq.ft. of retail and office space. The redevelopment will include relocating and expanding the existing Giant store, the addition of top-tier restaurants and a mix of new and existing local, regional and national retailers; Preakness Shopping Center, a 325,000 sq.ft. center located in Wayne, NJ for $35 million. Tenants include Macy’s, Super Stop & Shop, Clearview Cinema, CVS, two banks, Starbucks, Dress Barn, Annie Sez, Mandee and Maggie Moo’s; and Damascus Shopping Center, a 155,000 sq.ft. center located in Damascus, MD for $30 million. The company acquires existing retail shopping centers, existing apartment communities, raw land for development of multi-family, residential, retail or mixed-use projects, existing industrial, commercial or retail and properties for redevelopment throughout CT, MD, NJ, NY, PA and VA. For more information, contact Christopher P. Bell, Hekemian & Co., Inc., 326 First Street, Suite 20, Annapolis, MD 21403; 410-626-9607. Or contact, Robert S. Hekemian Jr., Hekemian & Co., Inc., 505 Main Street, Suite 400, Hackensack, NJ 07601; 201-487-1500 Ext. 105.
Pacific Coast Capital Partners, LLC has formed a joint venture with Brentwood Developments for the acquisition of McHenry Square Shopping Center, a 152,000 sq.ft. grocery-anchored center located on McHenry Avenue in Modesto, CA. The property was acquired by a private trust. The five-building shopping center is situated on a land area of 12.2 acres and is 32% occupied by The Round Table Pizza, Perko’s, Curves, Blockbuster Video. Area retail includes Regal Theaters, Target, Barnes & Noble, Mervyn’s, Rite Aid, Safeway, Longs and Toys ‘R’ Us. For more information, contact Pacific Coast Capital Partners, LLC, 555 Capitol Mall, Suite 200, Sacramento, CA 95814; 916-669-3778; Web site: www.pccpllc.com.
Coldwell Banker Commercial is looking to acquire a shopping center with strong anchors and competitive Cap rates. The center can be located anywhere throughout NC, with a price range up to $5 million. For more information, contact Jeff Yetter, Coldwell Banker Commercial, 1505 Westover Terrace, Greensboro, NC 27408; 336-545-4680, Fax 336-288-8957;E-mail: jeffery.yetter@coldwellbanker.com; Web site: www.coldwellbankercommercial.com. |