Buyers & Sellers
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Buyers & Sellers


Tri-Land Properties, Inc. is looking to acquire strip, community and power centers in major metropolitan areas throughout the Midwest, mid-Atlantic, Northeast and Southeast regions of the U.S. Centers should have GLAs of at least 75,000 sq.ft. with a low occupancy rate or be in need of redevelopment. Malls suitable for open-air conversion will be considered. Demographics should include a trade-area population of 300,000 earning a median household income of $45,000.

For more information, contact Hugh Robinson or Greg Hafemann, Tri-Land Properties, Inc., One Westbrook Corporate Center, Suite 520, Westchester, IL 60154; 800-441-7032;
Web site: www.trilandproperties.com.

Calkain Realty Advisors is looking to acquire properties nationwide on behalf of a client. Properties must be NNN leased with less than two years remaining on the primary term. The buyer prefers portfolios but will entertain single properties.

For more information, contact David Sobelman, Calkain Realty Advisors, 1408 Northwest Shore Boulevard, Suite 616, Tampa, FL 33607; 813-282-6000, Fax 813-282-6098; Email: dsobelman@calkain.com; Web site: www.calkain.com.

Grubb & Ellis is selling a 14-acre parcel located on Marston Street in Lawrence, MA. The site has frontage on Interstate 495 and an option exists to purchase an adjacent five-acre parcel. Demographics include a population of 406,239 within a 10-mile radius earning an average household income of $79,785. The asking price is $535,000 per acre.

For more information, contact Bradford Spencer or Paul Stanislas, Grubb & Ellis, 200 State Street, Boston, MA 02109; 617-772-7200, Fax 617-772-7272; Emails: bradford.spencer@grubb-ellis.com and paul.stanislas@grubb-ellis.com; Web site: www.grubb-ellis.com.

Denver Realty Advisors, LLC is looking to acquire an anchored shopping center on behalf of a client as part of a 1031 transaction. Properties should be located within the southeastern, southwestern and western U.S., though properties nationwide will be considered, and should be valued between $9 million and $25 million.

For more information, contact Timothy Robinson, Denver Realty Advisors, LLC; 303-759-0636, Fax 303-758-1587; Email: tjrobinson@mybluelight.com.

CB Richard Ellis is selling Galleria Oaks Shopping Center, a 99,468 sq.ft. shopping center situated on 11 acres on Research Boulevard/US Highway 183 in Austin, TX. The center is 88% leased and all leases are NNN. Many leases contain annual rent escalations. Area retail includes Lakeline Mall. Demographics include a population of 153,151 within a five-mile radius earning an average household income of $91,888. The asking price is $22 million with a Cap rate of 7.1%. The NOI is $1.56 million. The company is also selling a 37,500 sq.ft. parcel located at the intersection of Ruben Torres Boulevard and Paredes Line Road in Brownsville, TX. The property is currently under a 10-year ground lease with six, five-year options with Wendy’s for a 3,470 sq.ft. building. The NNN lease includes annual rent escalations. The asking price is $1.001 million with a Cap rate of 5.76%. The company is also selling a 39,000 sq.ft. anchor location at Palm Plaza paired with an adjacent 2.2-acre parcel. The center is situated on 5.87 acres at the intersection of East March Lane and West Lane in Stockton, CA. The asking price for the properties is $5.3 million.

For more information regarding the Austin property, contact Walter Saad, Cathy Nabours or Eric Dejernett, CB Richard Ellis, Private Client Group, 1221 South Mopac Expressway, Suite 100, Austin, TX 78746; 512-499-4925/4917/482-5504, Fax 512-499-4999; Emails: walter.saad@cbre.com, cathy.nabours@cbre.com and eric.dejernett@cbre.com; Web site: www.cbre.com/pcg-austin. For more information regarding the Brownsville property, contact Jennifer Pierson, Susan Frayer, Alba Nieves or Jason Piering, CB Richard Ellis, Dallas Private Client Group, Three Lincoln Center, 5430 LBJ Freeway, Suite 1100, Dallas, TX 75240; 972-458-4855/5281/5200/214-346-1807, Fax 972-702-8315; Emails:
jennifer.pierson@cbre.com, susan.frayer@cbre.com, alba.nieves@cbre.com and
jason.piering@cbremelody.com; Web site: www.cbre.com/pcg or www.cbre.com/jennifer.pierson. For more information regarding the California property, contact Trevor Thorpe, Dean Zaracotas or Mark Denhom, CB Richard Ellis, 101 California Street, 44th Floor, San Francisco, CA 94111; 415-772-0243/0248/916-446-8245, Fax 415-772-0459; Emails: trevor.thorpe@cbre.com, dean.zaracotas@cbre.com and mark.denhom@cbre.com; Web sites: www.cbre.com or www.pcglistings.com.

NAI Norwood Group is selling a 5.83-acre parcel located at the intersection of U.S. Route 3 and Technology Drive in Bedford, NH. The average daily traffic count is 20,000 vehicles. The site is being sold in three, approximately two-acre parcels with an asking price of $750,000 per parcel.

For more information, contact Perry Snow or Karl Norwood, NAI Norwood Group, 116 South River Road, Bedford NH 03110; 603-668-7000 Ext. 208/202, Fax 603-647-4325; Emails: perry@nainorwoodgroup.com and karl@nainorwoodgroup.com; Web site: www.nainorwoodgroup.com.

Millco Investments is selling an 8,900 sq.ft. building located on Harrisburg Boulevard in Houston, TX. The building is an outparcel to a three-tenant strip center and is currently tenanted by Family Dollar, with nine years remaining on the original 10-year NN lease. Rent includes 3% of all tenant gross sales over $2.5 million. The asking price is $1.034 million.

For more information, contact Jordan Kaufman, Millco Investments, 19 South LaSalle Street, Suite 1000, Chicago, IL 60603; 312-377-7800 Ext. 103, Fax 312-377-7898; Email: jordan@millcoinvestments.com; Web site: www.millcoinvestments.com.

Marcus & Millichap Real Estate Investment Brokerage Co. is selling a building located in Greeneville, TN. The current tenant, Back Yard Burgers, is signed into a 20-year absolute net lease with options and 1.25% annual rent increases. Area retail includes Wal*Mart Supercenter and area draws include Tusculum College. The average daily traffic count is 37,000 vehicles. The asking price is $1.874 million with a Cap rate of 8.15%. The company is also selling a building in Chicago, IL currently tenanted by CarMax. The tenant has 16 years remaining on the net lease. The asking price is $28.75 million with a Cap rate of 6.94%. The company is also selling Pine Valley Marketplace, a 100% leased strip center located in Fort Wayne, IN. The average daily traffic count is 89,000 vehicles. The asking price is $3.5 million with a Cap rate of 7.52%. The company is also selling a building located in Woodbury, MN currently tenanted by Boston’s Gourmet Pizza. The tenant is signed to a 20-year absolute net lease with options and 1.5% annual rent increases. The average daily traffic count is 80,000 vehicles. The asking price is $3.95 million with a Cap rate of 8.25%. The company is also selling Grand Village, a 100% leased center located in Branson, MO. The asking price is $8.9 million with a Cap rate of 8.14%. The company is also selling a building located in Milwaukee, WI currently tenanted by Hollywood Video. The tenant has six years remaining on the original term of the NNN lease, but options remain. The asking price is $1.792 million with a Cap rate of 9%. The company is also selling a building located in Milwaukee, WI and currently tenanted by Mo’s Irish Pub. The tenant has a 19-year lease with options. The average daily traffic count is 57,000 vehicles. The asking price is $4.08 million with a Cap rate of 10%.

For more information, contact Tammy Saia or Michael Christie, Marcus & Millichap Real Estate Investment Brokerage, 8750 West Bryn Mawr Avenue, Suite 650, Chicago, IL 60631; 773-867-1478, Fax 773-867-1510.

ArciTerra Group, LLC is selling a bank-anchored center located on Interstate 45 in Houston, TX. Cotenants include GameStop, Supercuts, Cingular and Nextel. The asking price is $4.49 million. The center is shadow-anchored by Wal*Mart Supercenter.

For more information, contact Ryan O’Connell, ArciTerra Group, LLC, 2720 East Camelback Road, Suite 220, Phoenix, AZ 85016; 602-424-3419, Fax 602-956-4494; Email: ryan.oconnell@arciterra.com; Web site: www.arciterra.com.

American Retail Properties is selling a two-level, 150,000 sq.ft. former-Furniture World situated on 11.71 acres located on Highway 101/Interstate 293 in Manchester, NH. Demographics include a population of 132,848 within a five-mile radius earning an average household income of $68,070. The asking price is $20 million. The company is also selling a two-level, 83,500 sq.ft. former-Furniture World situated on 6.41 acres located at the intersection of Daniel Webster Highway and Sagamore Bridge in Nashua, NH. Demographics include a population of 117,336 within a five-mile radius earning an average household income of $78,427. The asking price is $10 million.

For more information regarding the Manchester property, contact David Nugent, American Retail Properties, 148 State Street, Suite 600, Boston, MA 02109; 617-778-6500; Email: dnugent@americanrp.com; Web site: www.americanrp.com. For more information regarding the Nashua property, contact David Dhough; Email: dhough@americanrp.com. Or David Nugent.

Sperry Van Ness is selling Center Plaza, a 32,129 sq.ft. center situated on 2.3 acres located on Center Street in Manchester, CT. The two-level center is 95% occupied with scheduled rent increases, with one space of 1,700 sq.ft. available and potential to add a pad site. Demographics include a population of 66,000 within a three-mile radius earning an average household income of $72,000. The average daily traffic count is 10,400 vehicles. The asking price is $4 million with a Cap rate of 7.81%. The 2007 NOI is $312,256.

For more information, contact Thomas C. Dalzell or Jodi Tomany, Sperry Van Ness, 50 Main Street, Suite 1000, White Plains, NY 10606; 914-682-2169/860-297-4532, Fax 860-218-9506; Emails: tom.dalzell@svn.com and tomanyj@svn.com; Web site:
www.svnfrenchassociates.com.

Syndicated Equities Net-Leased Brokerage Group negotiated the $6.338 million sale of a CVS under a 20-year NN lease in Maynard, MA. The company also represents 1031 investors looking for new construction and existing properties occupied by both investment grade and sub-investment grade tenants of retail and office properties valued between $1 million and $125 million.

For more information, contact Ari Vinokur, Syndicated Equities Net-Leased Brokerage Group, 1345 North Wells Street, Chicago, IL 60610; 312-640-9020, Fax 312-640-9021; Email: ari@syndicatedequities.com; Web site: www.syndicatedequities.com.

Investment Real Estate Associates is looking to acquire power and lifestyle centers as well as malls on behalf of a newly capitalized equity fund in major metropolitan areas throughout FL, TX, the West Coast and the eastern seaboard with market populations above 500,000. Properties should be valued at $20 million or more with a Cap rate of 6% and have a tenant mix that includes 33% to 50% national credit tenants. The equity fund has $500 million marked for acquisitions to be completed this year.

For more information, contact Kevin G. Kowalski, Investment Real Estate Associates, 1200 Brickell Avenue, Suite 800, Miami, FL 33131; 305-808-7960, Fax 305-808-7962.

Battery Commercial Corp. is selling a 7,900 sq.ft. center situated on 1.13 acres located at the intersection of Channel Island Boulevard and Rose Avenue in Oxnard, CA. The 100% leased property is tenanted by Starbucks, Panda Express, Pacific Oaks Credit Union and Quiznos. Tenants are bound to 10-year NNN leases with fixed rent escalations. The asking price is $5.3 million.

For more information, contact Paul Souza, Battery Commercial Corp., 500 Washington Street, Suite 475, San Francisco, CA 94111; 415-963-4700, Fax 425-723-7700; Email: psouza@batterycommercial.com.

Goldschmidt & Associates negotiated the sale of a 1,770 sq.ft. retail condominium located on Central Park Avenue in Scarsdale, NY. The property was sold to MSP Realty for $600 psf.

For more information, contact Eric Goldschmidt, Goldschmidt & Associates, One Chase Road, Scarsdale, NY 10583; 914-723-1616 Ext. 2, Fax 914-723-7720;
Email: eric@ga-re.com; Web site:
www.goldschmidtandassociates.com.

The Broadbent Co. is selling Washington Place, a 102,678 sq.ft. center anchored by Office Depot and Circuit City and located at the intersection of East Washington Street and Mitthoeffer Road in Indianapolis, IN. Cotenants include Mattress Firm, Ponds, Pools & Fountains, O’Charleys, Supercuts and Cingular Wireless. Demographics include a population of 490,753 within a 10-mile radius earning an average household income of $59,933. The average daily traffic count is 55,000 vehicles.

For more information, contact Dave Cheslyn, The Broadbent Co., 201 North Illinois Street, 23rd Floor, Indianapolis, IN 46204-1950; 800-664-2900; Email:
dcheslyn@broadbentco.com.

Coldwell Banker Village Communities is looking to acquire properties on behalf of a buyer located throughout the eastern region of the U.S. Properties should have GLAs of 50,000 sq.ft. or larger and valued between $3 million and $35 million, with sites priced below replacement costs preferred. Properties with market populations larger than 30,000 are preferred, as are properties with redevelopment and repositioning opportunities, retail projects with excess land and/or outlots, anchored and unanchored assets and stabilized properties with upside potential.

For more information, contact Bill Fritz, Coldwell Banker Village Communities, 2704 South Culberhouse Street, Suite A, Jonesboro, AR 72401; 870-897-2357, Fax 870-935-4581; Email: bizmstr@suddenlink.net.

Professional Land Corp. is selling a 0.287-acre parcel located on Village Drive in Victorville, CA. The site is suitable for a retail center, hotel, convenience store, gas station, fast food restaurant or car dealership. The asking price is $269,000.

For more information, contact Bill Mims, Professional Land Corp., 23201 Mill Creek Drive, 3rd Floor, Laguna Hills, CA 92653; 949-951-2777, Fax 949-709-3230.

HaysVentures LLC sold two buildings located on Lexington Avenue in New York, NY. The locations, tenanted by Body Shop and Claire’s Stores, were acquired by Crown Acquisitions.

For more information, contact Justin Green or Lisa Singer, HaysVentures LLC, 525 Seventh Avenue, Suite 808, New York, NY 10017; 212-730-4300, Fax 212-710-5399; Web site: www.haysventures.com.

Michael Antkies Retail Real Estate is selling a 113-acre parcel, the site of a proposed lifestyle center, in Berlin, CT. The company is also selling a two-acre parcel in East Springfield, MA. The company is also selling a 30-acre parcel located on Interstate 84 in Brewster, NY. Area retail includes Home Depot. The company is also selling a one-acre parcel in Elmsford, NY. Area retail includes Sam’s Club. The company is also selling an eight-acre parcel in West Nyack, NY and an eight-acre parcel in Yorktown Heights, NY.

For more information, contact Michael Antkies, Michael Antkies Retail Real Estate, 226 Great Hill Road, Ridgefield, CT 06877; 203-438-9525, Fax 203-894-8434; Email: mantkies@antkies.com.