Buyers & Sellers
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Buyers & Sellers


CB Richard Ellis is selling the following properties in CA: Beach Pacific Center, a 16,210 sq.ft. center in Westminster, for $7.508 million with a Cap rate of 5.75%; a 14,820 sq.ft. Walgreens in Garden Grove for $7.964 million with a Cap rate of 5.5%; a 13,120 sq.ft. Ace Hardware in Temecula for $2.726 million with a Cap rate of 5%; a 4,800 sq.ft. Carpet One in Temecula for $1.738 million with a Cap rate of 5%; an 1,800 sq.ft. Arsenio’s Mexican Food restaurant for $1.025 million with a Cap rate of 6%; an 1,800 sq.ft. Shell in Ontario for $1.979 million with a Cap rate of 6%; a 6,750 sq.ft. center, located on California City Boulevard in California City, for $661,000 with a Cap rate of 6.5%; Antelope Marketplace, an 11,140 sq.ft. center in Antelope, for $5.617 million with a Cap rate of 6.25% and Country Club Shops, a 6,930 sq.ft. center in Palm Desert, for $4.526 million with a Cap rate of 5.75%. The company is also selling Wildcreek Plaza, an 11,413 sq.ft. center in Sparks, NV, for $6.767 million with a Cap rate of 6.5%. The company is selling a 1.93-acre parcel located on Richmond Highway in Alexandria, VA, for $2.5 million with a Cap rate of 6%. The site is under a 10-year NNN ground lease, tenanted by a 5,392 sq.ft. Chili’s Grill & Bar with five, five-year options and 10% rent increases every five years. Demographics include a population of 332,152 within a five-mile radius earning an average household income of $91,796. The company is also selling a 10-acre parcel located on North Main Street in Layton, UT. The asking price is $5 million. The company is also selling a 6,900 sq.ft. multi-tenant building, located on West Camelback Road in Phoenix, AZ, for $1.05 million at a Cap rate of 7.25%. Tenants include Kustom Kar Sound.

For more information regarding the CA properties, contact Philip D. Vorhees, Preston Fetrow, Kirk Brummer, Gleb Lvovich, Patrick Toomey, Holly Hamilton or Megan Wood, CB Richard Ellis, Inc., 3501 Jamboree Road, Suite 100, Newport Beach, CA 92660; 949-725-8466, Fax 949-725-8545. For more information regarding the Alexandria property, contact Sterling Champ or Rachel Katz, CB Richard Ellis – LA North, 10 Universal City Plaza, 27th Floor, Universal City, CA 91608; 818-502-6769/907-4675, Fax 818-243-6069. Or Gary Lawrence, CB Richard Ellis – D.C., 555 11th Street Northwest, Suite 300, Washington, DC 20004; 202-585-5533, Fax 202-585-5785. For more information regarding the Layton property, contact Doug Cole or Merrick Wright, CB Richard Ellis – Utah, 2755 East Cottonwood Parkway, Salt Lake City, UT 84121; 801-947-3969, Fax 801-947-3954. For more information regarding the Arizona property, contact Andrew Fosberg, Steve Fernandez or Claudia Jara, 311 South Wacker Drive, Suite 400, Chicago, IL 60606; 602-735-1723/5553/5624.

Marcus & Millichap represents a buyer looking to acquire value-added and stabilized shopping centers in addition to raw land for retail development in metro Atlanta and northern GA as well as major cities in AL, FL, NC, SC and TN. Purchase prices should be between $5 million and $50 million. The company also represents a buyer looking to acquire neighborhood and community centers anchored by regional or national grocery stores in FL and the metropolitan areas of Baltimore, MD; Atlanta, GA; Nashville and Memphis, TN; Raleigh and Charlotte, NC; Dallas and Houston, TX and Washington, DC. Purchase prices should be between $10 million and $100 million.

For more information, contact Al Taf, Al Taf Group, Marcus & Millichap, 1100 Abernathy Road, Suite 600, Atlanta, GA 30328; 678-808-2776, Fax 770-200-1517; Email: ataf@marcusmillichap.com; Web site: www.marcusmillichap.com.

The Wilder Cos. acquired 10 shopping centers for $500 million in a joint venture with O’Connor Capital Partners. The acquisition includes the 506,706 sq.ft. Dedham Mall in Dedham, MA; the 282,776 sq.ft. Village Shoppes in Canton, MA; the 273,070 sq.ft. Falmouth Mall in Falmouth, MA; the 214,933 sq.ft. Southwind Plaza in Hyannis, MA; the 87,681 sq.ft. Medfield Shops in Medfield, MA; the 304,484 sq.ft. Rochester Shoppes and the 27,588 sq.ft. Rochester Shoppes East in Rochester, NH; the 220,051 sq.ft. Royal Ridge Center in Nashua, NH; the 218,508 sq.ft. Belknap Mall in Belmont, NH and the 164,393 sq.ft. Portsmouth Circle in Portsmouth, NH.

For more information, contact Andrew LaGrega, The Wilder Cos., 800 Boylston Street, Suite 1300, Boston, MA 02199; 617-247-9200; Email: alagrega@wilderco.com.

LandQwest Commercial is selling a 1.58-acre parcel on Summerlin Road in Fort Myers, FL. The site is pad ready and zoned for a 5,400 sq.ft. restaurant. Area retail includes Sweetbay Supermarket, Sonic Drive In, Publix and CVS. Demographics include a population of 100,822 within a five-mile radius earning a median household income of $45,753. The average daily traffic count is 42,200 vehicles. The asking price is $1.995 million.

For more information, contact Stephen A. Cunningham, LandQwest Commercial, 5245 Big Pine Way, Suite 102, Fort Myers, FL 33907; 239-275-4922, Fax 239-275-4699; Email:
scunningham@landqwestcommercial.com; Web site: www.landqwestcommercial.com.

Staubach Investment Sales is selling 10.9 acres in Bensalem, PA with seven ground leases. Wendy’s, Ninety Nine Restaurant and Pub, Starbucks, Cracker Barrel, Red Robin, Chick-Fil-A and Wachovia Bank have NNN leases. Wal*Mart and Lowe’s Home Improvement shadow-anchor the development. The asking price is $13.8 million with a Cap rate of 6.58%. Staubach Capital Markets, the investment banking arm of The Staubach Co., was the exclusive broker in the sale of Luria Plaza, a 158,893 sq.ft. shopping center located on U.S. 1 in Vero Beach, FL to Luria Plaza, LLC by DLC Management Corp. The center is anchored by Vero Bowl and is cotenanted by World Gym, Outback Steakhouse and Checkers. The Staubach Capital Markets East Coast Retail Investment Team represented the seller in the sale of a 60,217 sq.ft. Bi-Lo in Greenville, SC for $10.8 million. Germania of America, Inc. & Commerz Immobilien GmbH sold the building to The Delta Interests, LLC. The company is also selling a 50,791 sq.ft. site in Frisco, TX for $2.364 million at a Cap rate of 5.5%. Wachovia Bank has a 15-year absolute net ground lease with 10% escalations every five years, and construction is expected to be completed during July of this year. Area demographics include a population of 49,506 within a five-mile radius. The population within three miles earns an average household income of $109,482. The company is also selling Lake Air Court, a shopping center situated on 10.074 acres at the intersection of North Valley Mills Road and Bosque Boulevard in Waco, TX. Tenants include Dollar Tree, Rent-A-Center, Sprint and Starbucks.

For more information regarding the Bensalem properties, contact Justin Greider, The Staubach Co.; 407-455-5036; Email: justin.greider@staubach.com. For more information regarding the Luria Plaza and Bi-Lo transactions, contact Meghan O’Connor or David Wojciechowski, Staubach Investment Sales, 366 Madison Avenue, 5th Floor, New York, NY 10017; 646-744-2552/212-418-2668; Web site: www.srsny.com. For more information regarding the Frisco site, contact Nathan Martin, The Staubach Co., 15601 Dallas Parkway, Suite 400, Dallas, TX 75001; 972-361-5119. For more information regarding Lake Air Court, contact Ken Shulman or Ken Bendalin; 972-361-5078/5179; Emails: ken.schulman@staubach.com and
ken.bendalin@staubach.com.

Net Leased Investment Co. is selling a 1.19-acre parcel located on Old Hickory Boulevard in Hermitage, TN. The property is currently occupied by a 6,485 sq.ft. Outback Steakhouse under a 10-year NNN lease with a 2% annual rent increase and four, five-year options. The asking price is $1.115 million with a Cap rate of 6%. The company is also selling a Wendy’s-leased property on Gandy Boulevard in Tampa, FL. Lease terms are 20 years NNN with a 10% rent increase every five years. The asking price is $1.675 million with a Cap rate of 6%.

For more information, contact Bob Fraser, Scott Austin or Bill Ellison, Net Leased Investment Co., 120 Alexandria Boulevard, Suite 18, Oviedo, FL 32765; 407-977-2448 Ext. 25/24/22, Fax 407-977-0775; Emails: bobfraser@netleased.com, bill@netleased.com and edgedev@cfl.rr.com; Web site: www.netleased.com.

Stan Johnson Co. is selling a 1.52-acre outparcel to Lowe’s Home Improvement located at the intersection of Highway 460 and Interstate 77 in Princeton, WV. The site is currently under a 10-year NNN ground lease with Chili’s with four, five-year options. The rent, currently $90,000 annually, will increase 10% with each option period. The asking price is $1.565 million with a Cap rate of 5.75%.

For more information, contact Mike Mantle, Stan Johnson Co., Two Warren Place
6120 South Yale Avenue, Suite 813, Tulsa, OK 74136; 918-494-2690, Fax 918-494-2692; Email: mmantle@stanjohnsonco.com; Web site: www.stanjohnsonco.com.

Mid-America Real Estate Co. represented the seller in the sale of Delavan Retail III, a 60,930 sq.ft. addition to the Delavan Crossings power center. The property was sold to Inland Real Estate. Delavan Crossing, located at the intersection of Interstate 43 and State Route 50 in Delavan, WI, is tenanted by PetSmart, Staples, MCSports, Fashion Bug and Maurices. It is shadow-anchored by Wal*Mart Supercenter, Kohl’s and Lowe’s Home Improvement.

For more information, contact Mid-America Real Estate Co., 645 North Plankinton Avenue, Milwaukee, WI 53203; 414-273-4600, Fax 414-273-4605.

Stratilis, LLC is selling three properties of 3.59 acres to 4.13 acres in CT.

For more information, contact David Mieczynski, Stratilis, LLC, 1244 Main Street, Willimantic, CT 06226; 860-450-0304 Ext. 106, Fax 860-423-1055; Email: david@ct-commercial-real-estate.com

Mid-America Real Estate Co. represented the seller in the $44 million sale of Lincoln Place Shopping Center, a 272,898 sq.ft. regional power center located in Fairview Heights, IL. Anchors include Kohl’s, Linens ‘N Things, Marshalls, Office Depot, Old Navy and Ultimate Electronics. Cole Cos. acquired the site from Weingarten Realty Investors.

For more information, contact Mid-America Real Estate Co., One Parkview Plaza, 9th Floor, Oakbrook Terrace, IL 60181, 630-954-7300, Fax 630-954-7304/7306; Web site: www.midamericagrp.com.

The Azarian Group, LLC acquired Lenox Plaza, a shopping center located on Route 46 West in West Paterson, NJ for $19.85 million. This was the company’s third shopping center acquisition in nine months.

For more information, contact John Azarian, The Azarian Group, LLC, 6 Prospect Street, Suite 1B, Midland Park, NJ 07432; 201-444-7111, Fax 201-444-6655; Email: jazarian@azariangroup.com; Web site: www.azariangroup.com.

NAI Isaac Commercial Properties represented the buyer in the $6.9 million acquisition of Stonewall Shopping Center, an 80,000 sq.ft. mixed-use neighborhood shopping center located at the intersection of Clays Mill Road and Wellington Way in Lexington, KY. Cotenants in the center include Rite Aid and Integra Bank.

For more information, contact Dawn Bryant, NAI Isaac Commercial Properties, 771 Corporate Drive, Suite 300, Lexington, KY 40503; 859-224-2000; Email: dawnbryant@naiisaac.com.

Block & Co. Inc. is selling three properties in OK. Each site is occupied by a restaurant under a NNN ground lease and is being offered at a 7% Cap rate.

For more information, contact Michael R. Block, Block & Co., Inc., 700 West 47th Street, Suite 200, Kansas City, MO 64112-1922; Email: mblock@blockandco.com; Web site: www.blockandco.com.

DJM Realty is selling six adjacent parcels totaling 6.12 acres located between East 77th Street, South Stony Island Avenue, South Chicago Avenue and Blackstone Avenue in South Chicago, IL. The property is zoned for motor vehicle-related commercial and is located across Interstate 90 and Sears.

For more information, contact James Avallone, DJM Realty, 445 Broadhollow Road, Suite 417, Melville, NY 11747; 631-927-0024, Fax 631-752-1231; Web site: www.djmrealty.com.

Colliers International is selling San Jacinto Plaza, a 124,704 sq.ft. center situated on 9.76 acres at the intersection of Uvalde Road and Wallisville Road in Houston, TX for $7.5 million. Area demographics include a population within one mile earning an average household income of $54,000. The average daily traffic count is 40,000 vehicles.

For more information, contact Martin O’Malley, Colliers International, 1300 Post Oak Boulevard, Suite 200, Houston, TX 77056; 713-830-2158, Fax 713-986-4958; Email: momalley@collierstexas.com; Web site: www.collierstexas.com.

Paramount Properties is selling a center in Matawan, NJ. The building houses a 12-bay tire center, 2,000 sq.ft. of office space and a 1,500 sq.ft. restaurant. The asking price is $2.995 million with owner financing available at 3% with down payment of
one-third.

For more information, contact Alan Katz, Paramount Properties; 732-547-3698; Email: akatz238@optonline.net.

Marin Real Estate Services is looking for 1031 exchange opportunities in CT. The company prefers transactions valued between $2 million and $6 million for properties tenanted by credit tenants.

For more information, contact Paul A. Marin, Marin Real Estate Services, 361 Walkley Hill Road, Haddam, CT 06438; 860-345-8798, Fax 860-345-4577; Email: pmarin@snet.net.

The Good Group is selling a 1,595 sq.ft. Sonic Drive In situated on 1.3 acres in Orlando, FL. The asking price is $1.175 million with a Cap rate of 7.65%. The current lease term is 10 years with escalations every five years and two, five-year options.

For more information, contact Mike Sheerin, The Good Group, 1000 North Orlando Avenue, Suite A, Winter Park, FL 32789; 407-628-9555, Fax 407-386-6101; Email: msheerin@thegoodgroup.com; Web site: www.thegoodgroup.com.

Calkain Realty Advisors is selling four sites in FL currently occupied by Dunkin’ Donuts franchisees under NNN ground leases. The asking price for the portfolio is $9.678 million, though the properties are available separately.

For more information, contact Tom Geller, Calkain Realty Advisors, 1408 North West Shore Boulevard, Suite 616, Tampa, FL 33607; 813-282-6000, Fax 813-282-6098; Email: tgeller@calkain.com.

Charles Vita & Co. is acquiring retail centers nationwide. The company prefers grocery-anchored centers. Properties should be priced between $5 million and $60 million with Cap rates of 8.5% and occupancy rates above 85%.

For more information, contact Mike DiGiacomo or Steve Reynolds, Charles Vita & Co., One City Place, Suite 3001, White Plains, NY 10601; 914-421-2585, Fax 914-206-7711; Email: md@cvdev.net.

The Prakas Group, Inc., was the exclusive broker in the $4.09 million sale of a 10,000 sq.ft. retail space on Atlantic Boulevard in Delray Beach, FL. 290 East Atlantic, LLC acquired the property from Faison-Grove Square, LLC.

For more information, contact Tom Prakas, The Prakas Group, Inc., 705 East Palmetto Park Road, Boca Raton, FL 33432; 561-368-0003; Web site: www.prakasgroup.com.

Atlantic Real Estate is selling three buildings and a lot at the intersection of Williams Bridge Road and Neill Avenue in Bronx, NY. The monthly rental income is $18,000 monthly. The asking price is $2.95 million.

For more information, contact Mario Gigante, Atlantic Real Estate, 500 Fifth Avenue, Pelham, NY 10803; 914-738-3512, Fax 914-738-3519.

Grubb & Ellis|Commercial Florida represented the seller, Motiva Enterprises, LLC, in the $1.25 million sale of a former Shell gas station in Bradenton, FL to Royal Palm Car Wash, LLC.

For more information, contact Brent Lindsey, Larry Lietzman or Steve Tombrink, Grubb & Ellis|Commercial Florida; 813-830-7890/7877.

Net Leased Real Properties represents a client looking to acquire ground leased properties priced at $3.5 million and up. The company will work with direct principals or direct brokers.

For more information, contact Shawn Jass, Net Leased Real Properties, 1090 Joshua Way, Suite B, Vista, CA 92801; 760-734-1130 Ext. 100, Fax 760-560-1607; Email: shawn@1031nnnsearch.com.

United Equities Corp. is acquiring publicly traded single-tenant net leased properties with Cap rates above 8% and asking prices of $2 million and up.

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: akramer@unitedeq.net.