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Buyers & Sellers
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Buyers & Sellers Colliers Arnold is selling Holiday Centre, a neighborhood center anchored by Publix and Walgreens in Holiday, FL. The center is 96% occupied. For more information, contact Michael Milano or Cynthia
Shelton, Colliers Arnold, 17757 U.S. Highway 19 North, Suite 275, Clearwater, FL
33764; 727-298-5303 or 407-362-6142; Grubb & Ellis|West Shell Commercial is selling New Lebanon Plaza, a 52,053 sq.ft. center located in New Lebanon, OH on West Main Street, for $6.4 million at a Cap rate of 7.21%. The center sits on a land area of 4.83 acres and is anchored by SuperValu and Rite Aid. It is 94% leased with cotenants including Movie Gallery, Subway and Check Advance. The center’s net operating income is $461,506. For more information, contact Jeffrey E. Johnston or Steven
L. Timmel, Grubb & Ellis|West Shell Commercial, 425 Walnut Street, Suite 1200,
Cincinnati, OH 45202; 513-562-2231/2221, Fax 513-721-0630; Hogan Real Estate is selling a Walgreens location and a Sonic Drive-In location in Lexington, KY for $6.609 million with Cap rates of 6.5% and 7%, respectively. Located at the intersection of New Circle Road and Bryan Avenue, the Walgreens has a GLA of 15,120 sq.ft. and the Sonic Drive-In has a GLA of 1,362 sq.ft. Walgreens has a 60-year lease with cancelable rights every five years after 20 years. Sonic Drive-In has a 20-year lease. The site has an average daily traffic count of 50,300 vehicles. Area retail includes Wal*Mart Supercenter and Kroger. For more information, contact Justin Phelps, Hogan Real
Estate, 420 West Liberty Street, Louisville, KY; 502-271-5820; Petroff, Inc. is selling a 70,000 sq.ft. shopping mall located in New Ulm, MN for $22 psf. The center is 35% occupied and is anchored by Herbergers Department Store. Area demographics include a trade-area population of 30,000. For more information, contact Bob Petroff, Petroff, Inc.,
7317 West 83rd Street, Bloomington, MN 55438; 952-829-8979; Tucson Realty & Trust Co. is selling a 74,710 sq.ft. land parcel located at the intersection of Colossal Cave Road and Old Vail Road in Vail, AZ for $12 psf. Area demographics include a population within five miles earning $63,944 as the median household income. The company is also selling four pad sites located at the intersection of North Oracle Road and West Hardy Road in Oro Valley, AZ. The sites have GLAs of 4,000 sq.ft. to 11,700 sq.ft. and the entire property totals 203,130 sq.ft. Area demographics include a population of 104,141 within five miles earning $62,006 as the average household income. The average daily traffic count is 57,397 vehicles. The company is also selling a 39,177 sq.ft. site on East Wetmore Road in Tucson, AZ for $900,000, or $23 psf. The site includes a 6,200 sq.ft. pad site. Area retail includes Wal*Mart, Circuit City, OfficeMax and the Tucson Mall. Area demographics include a population of 229,926 within five miles earning $33,995 as the average household income. For more information regarding the properties in Vail and Oro
Valley, contact Rita Perez, Tucson Realty & Trust Co., 335 North Wilmont, Suite
505, Tucson, AZ 85711-2632; 520-490-8405; Paul Lester & Associates – Coldwell Banker Commercial is selling a 64,912 sq.ft. shopping center located on Route 44 in Raynham, MA for $10.5 million. The average daily traffic count is 27,000 vehicles. The site has a net operating income of $850,000. For more information, contact Paul Lester, Paul Lester & Associates – Coldwell Banker Commercial, 113 Lewis Wharf, Boston, MA 02110; 617-796-5716. Forestworks, Inc. is selling a 168-acre site in central NC for $44,500 per acre. The site fronts Interstate 40 and Interstate 85 and has an average daily traffic count of 83,000 vehicles. Area retail includes Wal*Mart. For more information, contact Eric R. Rice, Forestworks,
Inc.; 919-266-7411; Watson Commercial Real Estate, Inc. is selling a four-acre corner lot in Brevard County, FL located at the intersection of Viera Boulevard and U.S. 1. For more information, contact Terra Realty Services is selling a 27,132 sq.ft. outlot in Hainesville, IL for $489,000. A drive-thru permit has been approved. The site has an average daily traffic count of 36,000 vehicles. Also, a proposed strip center is planned for the site. For more information, contact Lynn Ridley, Terra Realty
Services, 14044 Petronella Drive, Suite 1, Libertyville, IL 60048; 847-366-7116,
Fax 847-996-1073; Sperry Van Ness is selling Pinetree Plaza, a 54,200 sq.ft. center located on East Geneva Street in Delevan, WI, for $5.5 million at a Cap rate of 10.27%. The center is 100% occupied and has a net operating income of $564,832. Shopko anchors the center. The company is also selling a 1,304-acre site located at the intersection of U.S. Highway 17-A and S.C. Highway 170-A in Hardeeville, SC for $39 million, or $29,889 per acre. The property is approved for 2,255 units and 1.2 million sq.ft. of commercial. Also, 619 acres are planned for single-family units, 244 acres for multi-family, 20 acres for residential high rise, 100 acres commercial and 13 acres for a public historical park. For more information regarding Pinetree Plaza, contact Dan
Martin, Sperry Van Ness, 2355 Arlington Heights Road, Arlington Heights, IL
60005; 847-434-1400 Ext. 14, Fax 847-434-1404; Staubach Capital Markets closed the sale of Merchants Exchange, a 130,054 sq.ft. LA Fitness-anchored center in Marietta, GA, for $22.5 million. The company represented GOA Realty Management in the sale to a joint venture between New Plan Excel Realty Trust and Galileo. The center is located at the intersection of Johnson Ferry Road and Upper Roswell Road. For more information, contact Justin Greider, Staubach
Capital Markets, 200 South Orange Avenue, Suite 1400, Orlando, FL 32801;
407-455-5036 or 321-279-3678; 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 rates of 7% and up. The company prefers U.S. sites but will consider international properties. For more information, contact George W. Thellman, Infiniti
Real Estate; 386-747-8513; Rusty Wallace Realty is selling a seven-unit shopping center in Emmett, ID for $2.3 million. There are four buildings sitting on 2.6 acres, as well as 6,500 sq.ft. housing four businesses, a 4,300 sq.ft. property and a 1,412 sq.ft. site. In addition, there is a 29,500 sq.ft. space that had formerly been a grocery store. For more information, contact John Olson, Rusty Wallace
Realty; 208-365-8572; Coldwell Banker Commercial is selling a 6,875 sq.ft. strip center located in Summerville, SC at an 8% Cap rate. The center is tenanted by Quiznos, Ultra Tan and Fast Frame. For more information, contact Brian M. Aiken, Coldwell Banker Commercial, 3506 West Montague Avenue, Suite 200, Charleston, SC 29418; 843-774-9877, Fax 843-774-9879. Commercial Capital is representing a client looking to acquire commercial properties nationwide, including multi-family, retail and industrial. The company will consider properties of any size and price. For more information, contact Joe Daujotas, Commercial Capital; 847-321-0160, Fax 206-202-1943; jd53@comcast.net. Stratilis, LLC is selling 38,611 sq.ft. freestanding site located on Boston Post Road in North Windham, CT for $3.5 million at a Cap rate of 4%. The four-acre property is occupied by Wili Bowl, a bowling alley. Area demographics include a population of 35,751 within five miles earning $48,155 as the median household income. The net operating income is $143,475. For more information, contact David Mieczynski, Stratilis,
LLC, 1244 Main Street, Willimantic, CT 06226; 860-450-0304 Ext. 106, Fax
860-423-1055; Cervera Real Estate, Inc. is selling Latitude One, a mixed-use center located at the intersection of 7th Street and 2nd Avenue in Miami, FL, for $4.85 million. The center has available spaces of 4,500 sq.ft.; 9,000 sq.ft. and 10,000 sq.ft. and is slated to open during June. Area demographics include a population earning $50,000 as the average household income. For more information, contact Wolfgang Herr, Cervera Real
Estate, Inc., 1492 South Miami Avenue, Miami, FL 33161; 305-970-7260, Fax
305-358-6545; |