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Buyers & Sellers
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Buyers & Sellers Colliers Arnold negotiated the sales of two vacant properties in the Tampa Bay, FL area for $2.57 million. The company represented Circle K Stores, Inc. in the acquisition of a two-acre tract located at the intersection of U.S. Highway 41 and 19th Avenue in Ruskin, FL. Starker Services, Inc. sold the site for $1.25 million. Colliers Arnold represented the sellers in the $1.32 million sale of 19 acres on Jensen Road in Tampa to a local investor. The seller was 5960 Jensen Land Trust and Jeff Anderson of Tampa. For more information, contact Tom Chamblee or Pat Duffy, Colliers Arnold; 813-221-2290.
Pacific Equities is selling a Big Kmart NNN location in Perry, FL for $7.25 million at a 6.54% Cap rate. The 13.42-acre property includes two undeveloped pad sites and a self-serve car wash leased for $11,000 annually. The 94,841 sq.ft. Big Kmart’s rent is $474,205 annually with 10 five-year options. The property has a Cap rate of 6.7% including the car wash lease. Area retail includes Wal*Mart Supercenter. For more information, contact Ron M. Pelleg, Pacific Equities, 1640 South Sepulveda Boulevard, Suite 208, Los Angeles, CA 90025; 310-477-5300 Ext. 104, Fax 310-479-1870; Email: ron@pelleg.com. Vici Real Estate is selling retail spaces located in two GA centers, The Plaza at Suwanee Station and The Plaza at Breckinridge, with starting prices of $350,000 for investment-grade real estate. The Plaza at Suwanee Station is located on Peachtree Industrial Boulevard in Suwanee and has an average daily traffic count of 40,000 vehicles. Nearby draws include Sugarloaf Country Club, The River Club, Suwanee Station and high-end residences. Area demographics include a population of 104,786 within five miles earning $111,768 as the average daily traffic count. The Plaza at Breckinridge is located on Breckinridge Road in Duluth. For more information, contact
Rivercrest Realty Investors is looking to acquire shopping centers located east of the Mississippi River with asking prices of at least $5 million. The sites should be grocery-anchored or shadow-anchored and have a minimum GLA of 30,000 sq.ft. in shop space. For more information, contact Stan Werb, Rivercrest Realty Investors, 8816 Six Forks Road, Suite 201, Raleigh, NC 27615; 919-846-4046, Fax 919-424-0001; Email: stanwerb@rivercrestrealty.com; Web site: www.rivercrestrealty.com.
For more information, contact Daniel Taub or Guy Morris, DLC Management Corp.; 914-631-3131 or 914-406-7650.
Grubb & Ellis | Commercial Florida negotiated the sale of a 1.33-acre outparcel located in Orlando, FL at the intersection of Hacienda Boulevard and John Young Parkway. The company represented the seller, D.R. Horton, Inc., in the sale to Avista Properties, LLC. For more information, contact David G. Calcanis and Jeffrey S. Sweeney, Grubb & Ellis | Commercial Florida; 407-481-5406/5387; Web site: www.grubb-ellis.com.
HSS Management Co. sold Meadow View Shopping Plaza, located on West Algonquin Road in Rolling Meadows, IL, for $4.055 million. Marcus & Millichap represented the buyer and seller in the transaction. The 22,000 sq.ft. center is anchored by AutoZone and Cort Furniture. Area retailers include Wal*Mart, Sam’s Club, Lowe’s Home Improvement, Meier’s and Staples. For more information, contact Michael J. Horne, HSS
Management Co., 4801 West Golf Road, Suite 200, Skokie, IL 60077;
Commercial Brokerage Services is selling a retail site in Bremen, GA on Interstate 20 at a Cap rate of 7.5%. Captain D’s tenants the site with a 15-year lease with three, five-year options at 15% increases annually and is slated to open during April. Area retailers include Cracker Barrel, Zaxbys, Advance Auto, McDonalds, Waffle House, Quiznos, Movie Gallery, Arby’s and Wal*Mart Supercenter. For more information, contact Alex Davenport, Commercial Brokerage Services; 256-225-5330, Fax 256-835-2800; Email: alexdavenport@peoplepc.com . Income Property Advisor is selling a shopping center in the Midwest anchored by a national credit tenant. The asking price is $42.5 million. For more information, contact Normal Neinchel, Income Property Advisor, 190 Rose Court, Suite 3, Campbell, CA 95008; 408-813-2939, Fax 408-378-6488.
Massell Commercial Real Estate is looking to acquire
a Chipotle location in a NNN deal for $2 million and under. The company prefers
sites in appreciating areas For more information, contact John S. Rosenberg, Massell Commercial Real Estate; 404-255-6810 Ext. 12, Fax 404-252-3883; Email: j.rosenberg@massell.com.
NAI Capital Commercial is selling a Walgreens location in NY for $8.95 million at a 6.22% Cap rate. The store has a 25-year NNN lease scheduled to commence during May. The site is slated to open during March. For more information, contact Laurence Saper, NAI
Capital Commercial; Infiniti Real Estate is looking to acquire single
projects or portfolios of class A office buildings, class B shopping centers and
four- or five-star hotels/resorts. Asking prices should be at least $10 million
with Cap For more information, contact George W. Thellman, Infiniti Real Estate; 386-747-8513; Email: george.thellman@gmail.com.
The Skyline Co. is looking acquire vacant Wal*Mart sites or other big box sites nationwide. For more information, contact Allen Yadgari, The Skyline Co., 1600 Sawtelle Boulevard, Suite 237, Los Angeles, CA 90025; 310-479-4140, Fax 888-731-1132; Email: allen@skylinere.com.
Heslin Holdings, Inc. acquired a 6,341 sq.ft. Blockbuster Video site in Eagle Rock, CA. The freestanding building sits on more than 0.5 acres at the intersection of Colorado Avenue and Eagle Rock Boulevard. For more information, contact Heslin Holdings; 949-265-7001.
Colliers International is selling Walgreens Center, a 49,056 sq.ft. shopping center located in Bellevue, WA for $18.74 million with a Cap rate of 5.75%. The center is anchored by a 14,000 sq.ft. Walgreens and a 26,000 sq.ft. Uwajimaya Asian grocery. Area retailers include Lowe’s Home Improvement, Safeway, Staples, Sears, Marshalls, Rite Aid, Office Depot, Barnes & Noble, Old Navy, Michaels, Jo-Ann, Petco, Circuit City and The Sports Authority. For more information, contact Paul Sleeth, Billy Sleeth
or Andrew Coates, Colliers International; 206-223-1266/654-0522/
Mid-America Real Estate Corp. coordinated the sale of 151,643 sq.ft. of the 256,310 sq.ft. Ridge Plaza in Arlington Heights, IL. The company represented the buyer, New Plan/Galileo, a joint venture between Galileo Shopping America Trust and New Plan Excel Realty Trust. Ridge Plaza is located at the intersection of Dundee Road and Ridge Avenue and is shadow-anchored by Kohl’s. Tenants of the recent sale include Xsport Fitness, Bang & Olufsen, Portillo’s, Harbor Freight Tools, Fox and Hound Pub, Subway, Alphagraphics, Kappy’s, Gymboree and Pacific Buffet. For more information, contact Mid-America Real Estate Group; 630-954-7300; Web site: www.midamericagrp.com.
Colliers Abood Wood-Fay represented the seller in the sale of two gas stations in Port St. Lucie, FL. Energis Petroleum, LLC sold the properties, which are located on Port St. Lucie Boulevard and Southeast Prima Vista Bouelvard and total 7,346 sq.ft. on 2.58 acres for $6.225 million. The properties were offered as a three-property package, with a 4,742 sq.ft. station site in Okeechobee, FL. For more information, contact Jan McLane, Colliers Abood Wood-Fay; 954-233-6052; Email: jmclane@colliersawf.com; Web site: www.colliersawf.com.
Lee & Associates negotiated the $1.3 million sale of
a Ponderosa Steakhouse location in Madison, WI. The Livesey Co. acquired
For more information, contact
JE Capital Investments is selling an 11,040 sq.ft. strip center in Farmington Hills, MI priced at $2.05 million with a Cap rate of 8.88%. The center’s tenants have long-term leases. For more information, contact Eric Elbaz, JE Capital Investments; Email: elbazeric@hotmail.com; Web site: www.jecapitalinvestments.com.
Premier Blue Properties is looking to acquire one acre of land zoned commercial and/or existing shopping centers in Leesburg, Spotsylvania or Stafford counties in VA. For more information, contact Amit Natanzon, Premier Blue Properties, 8704 Lee Highway, Suite 303, Fairfax, VA 22031; 703-207-6272 Ext. 18 or 202-306-3200, Fax 202-478-1773.
Primerica Group One, Inc. is representing a client looking to acquire a NNN property priced between $2 million and $3 million. Preferred properties are single-tenant retail, bank ground leases or NNN-leased strip centers in the Nashville, TN market. For more information, contact Michael Fabrizio,
Primerica Group One, Inc.; Zell Commercial Real Estate Services, Inc. is selling the Fry’s Food & Drug Plaza, located in Peoria, AZ, for $7.8 million at a Cap rate of 6.62%. The 37,531 sq.ft. center is located at the intersection of 75th Avenue and Cactus Road and anchored by Fry’s Food & Drug store. The center is 92% occupied with pad sites occupied by Hollywood Video, Jack in the Box and Jiffy Lube. Fry’s Food & Drug is not part of the sale. For more information, contact 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.
The Staubach Co. closed the sale of City Walk, located in Sandy Springs, GA, for $47.75 million. The company represented the seller, Maxwell Properties, in the transaction with a private buyer represented by DK Investment Group. The 107,723 sq.ft. shopping center is anchored by Kroger and tenanted by Baskin Robbins, U.S. Post Office, The Grape and Doc Chey’s Noodle House. For more information, contact Justin M. Greider, The
Staubach Co., 200 Weichert Commercial Brokerage, Inc. is selling a 2,000 sq.ft. property on Pennington Road in Trenton, NJ for $150,000. For more information, contact
Bosshardt Realty Services, Inc. is selling a 5.25-acre site located on Interstate 75 in Tifton, GA for $2.5 million. The property has a 44-room hotel and a 10,000 sq.ft. vacant former Denny’s location. For more information, contact John Thomas, Bosshardt Realty Services, Inc.; 352-538-4453, Fax 352-378-2737; Email: johnthomas@bosshardtrealty.com.
Coyote Management, LP is looking to acquire enclosed regional malls nationwide with minimum GLAs of 400,000 sq.ft. For more information, contact John Desco, Coyote Management, LP, 16475 Dallas Parkway, Suite 250, Addison, TX 75001; 972-248-9375, Fax 972-248-0871; Email: johnd@coyotemanagement.com; Web site: www.coyotemanagement.com. |