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Buyers & Sellers
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Buyers & Sellers Mid-America Real Estate Corp. completed the sale of the 101,555 sq.ft. Townline Commons, located at the intersection of Townline Road and Milwaukee Avenue in Vernon, IL, for $24 million. The company represented the seller, Location Finders International. The center is anchored by OfficeMax, Golf Galaxy, Discovery Clothing and Plunkett Furniture. Wal*Mart, Toys "R" Us and Petco shadow-anchor the center. Also included in the sale are the tenant leases of Bath & Body Works, Payless ShoeSource, Supercuts, Chicago Home Fitness, Washington Mutual and Wells Fargo Financial. The center is located across from Hawthorne Center, a 1.3 million sq.ft. regional mall. For more information, contact Mid-America Real Estate Corp., Two Mid-America Plaza, 3rd Floor, Oakbrook Terrace, IL 60181-4713; 630-954-7300, Fax 630-954-7304/7306; Web site: www.midamericagrp.com. A&B Properties, Inc. acquired the newly constructed Royal MacArthur Center, located in Las Colinas, TX, for $13.6 million. The 43,600 sq.ft. site features retail and restaurants and sits on a land area of eight acres. Twelve tenants occupy the center. For more information, contact A&B Properties, Inc.,
822 Bishop Street Web site: www.abprop.com. Kimco Exchange Place is selling three TX properties: A Hibernia National Bank ground lease in Brownsville for $2.087 million at a Cap rate of 5.75%; a Taco Cabana ground lease in Brownsville for $1.36 million at a Cap rate of 6.25% and a Millennium State Bank of Texas NNN property in Dallas for $5.069 million at a Cap rate of 5.8%. For more information, contact Daniel de Sa’, Kimco Exchange Place, 280 Park Avenue, 11th Floor West, New York, NY 10017; 212-972-3947, Fax 212-972-7496; Email:
ddesa@kimcorealty.com; Trout, Segall & Doyle represented Barnyard Wine & Spirits in the $2.5 million sale of a 1.13-acre site on Crane Highway in Glen Burnie, MD. Commerce Bank, represented by Interstate Commercial, acquired the site for its first land purchase in MD. The site is located across from Target. For more information, contact Eryn N. Novak, Trout, Segall & Doyle, 2 Village Square, Suite 219, Baltimore, MD 21210-1600; 410-435-4000 Ext. 228, Fax 410-435-4277; Email:
enovak@troutsegall.com; Del’Valle International Realtors is looking to acquire strip centers in the Southeast with GLAs of 60,000 sq.ft. to 80,000 sq.ft. and priced between $10 million to $15 million at a Cap rate of 8%. The centers should be 97% occupied. For more information, contact Aurora Email:
investment@delvalle-international.com; Kimball & Co. – TCN Worldwide is selling a 2,755 sq.ft. building situated on 0.62 acres in Morrisville, NC for $725,000. The site is located at the intersection of Lumley Road and the Interstate 540 Exit 4 ramp, across from Exxon. For more information, contact Matthew O’Bryant,
Kimball & Co. – TCN Worldwide, 3701 National Drive, Suite 204, Raleigh,
Email: matthew@kimballandcompany.com. Marcus & Millichap Real Estate Investment Brokerage sold a Rite Aid location located on Liberty Place in Erie, PA in a 1031 exchange for $2 million at a 7.72% Cap rate. The company represented the buyer and seller. The company also sold an Advance Auto Parts located in Trooper, PA for $2.4 million. The 22,948 sq.ft. property was acquired by Trooper Advance, LLC. The company is also selling a Hollywood Video location in Milwaukee, WI for $1.792 million at a Cap rate of 9%. The lease is corporate guaranteed, NNN, with six years remaining and with 15 years of options. For more information regarding Rite Aid, contact Jeffrey Algatt, Marcus & Millichap Real Estate Investment Brokerage; 215-557-0900. For more information regarding Hollywood Video, contact Michael J. Christie or Tammy A. Saia, Marcus & Millichap Real Estate Investment Brokerage, 8750 West Bryn Mawr Avenue, Suite 650, Chicago, IL 60631; 773-867-1478. CGM Capital, Inc. is looking to acquire sites in a 1031 exchange with Cap rates of 6.5% or better in the Carolinas, FL, New York, NY and Washington, DC. The company prefers exclusive listings and off-market NNN investment grade property. For more information, contact Brian D. DiSalvo, CGM Capital, Inc., 4550 West Sahara Avenue, Suite 2137, Las Vegas, NV 89102; 702-878-0811 or 973-789-6001, Fax 212-602-0101; Email: brian@cgmcapital.com. Prudential Blue Water Real Estate is selling The Burro Street Exchange, a 15-unit retail center located in Cloudcroft, NM, for $2.85 million. The units range in size from 284 sq.ft. to 1,380 sq.ft. For more information, contact Prudential Blue Water Real Estate, 505 Burro Avenue, PO Box 1160, Cloudcroft, NM 88317; 505-682-3566 or 505-439-5000, Fax 505-682-2550; Web site: www.prudentialbluewaterrealestate.com. C&J Realty Group is selling Eastchase Crossing shopping center located in TX, between Arlington and Fort Worth, for $2.95 million at a Cap rate of 8.1%. The 15,000 sq.ft. neighborhood center is located across from a Target-anchored shopping center. For more information, contact Jody Jones, C&J Realty Group, 3908 Windview Drive, Colleyville, TX 76034; 972-740-2682, Fax 817-540-1569; Email: jody@jodyjones.us. Brookside Realty Corp. is looking to acquire
properties in the Southeast with For more information, contact Amy J. Saul-Sohigan, Brookside Realty Corp.; 561-542-1800, Fax 561-860-9460; Email: amy561@aol.com;
Hudson Realty Capital, LLC acquired a 15-acre site in North Scottsdale, AZ for $5.38 million. The site will house a two-story 100,000 sq.ft. office condominium and a 72,000 sq.ft. retail showroom. For more information, contact Hudson Realty Capital, LLC, 381 Park Avenue South, Suite 428, New York, NY 10016. JE Capital Investments is selling a 13,580 sq.ft.
NNN center in Orlando, FL priced For more information, contact Joshua Email:
invest@jecapitalinvestments.com; Empowered Investments, Inc. is selling a 2.46 parcel zoned for commercial use located on Highway 97 in Raleigh, NC for $395,000. An 80,000 sq.ft. warehouse sits on the site, which is adjacent to a Piggly Wiggly and across from a McDonald’s. For more information, contact Michael Rather,
Empowered Investments, Inc., 225 Junebug Court, Columbia, SC 29209; |