Buyers & Sellers
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Buyers & Sellers

Equity Retail Brokers negotiated the sale of a multi-tenant retail building to Rite Aid of Pennsylvania, Inc., for $3.73 million with a Cap rate of 4.8%. The 37,666 sq.ft. building is situated on a two-acre parcel located at the intersection of Frankford Avenue and Pratt Street in Philadelphia, PA.

For more information, contact Equity Retail Brokers, 101 West Elm Street, Suite 370, Conshohocken, PA 19428; 610-645-7700, Fax 610-645-5454; Web site:
www.equityretailbrokers.com.

Mayda Tress is looking to acquire shopping centers throughout southern CA; Las Vegas, NV and TX on behalf of a client. Centers should have minimum GLAs of 175,000 sq.ft. and be anchored by grocery stores or national tenants. Centers should be in new or newly renovated condition and stable.

For more information, contact Mayda Tress, Palm Beach Gardens, FL; 561-339-1441, Fax 866-544-7163; Email: maydatress@gmail.com.

Colliers Turley Martin Tucker sold Fishers Crossing, a 29,569 sq.ft. center shadow-anchored by Kroger Supermarket and located at the intersection of East 116^th Street and Allisonville Road in Fishers, IN. The center was acquired by Weybridge-Fishers Crossing, LLC, with representation by Oak Realty Partners, Inc.

For more information, contact Rebecca Wells, Colliers Turley Martin Tucker, One American Square, Suite 1300, Indianapolis, IN 46282; 317-639-0522, Fax 317-639-0504; Email: rwells@ctmt.com; Web site: www.ctmt.com.

Linear Retail Properties, LLC is acquiring strip centers as well as downtown/urban and freestanding locations throughout eastern MA, southern ME, southern NH and RI. Properties should have GLAs between 10,000 sq.ft. and 125,000 sq.ft. and valued between $1 million and $15 million. Properties should be convenience-oriented retail, stabilized, value-added and suitable for development or redevelopment.

For more information, contact Aubrey Cannuscio, James Clifford or William Beckeman, Linear Retail Properties, LLC, 5 Burlington Woods Drive, Burlington, MA 01803; 781-273-5665, Fax 781-273-5683; Web site: www.linearretail.com.

RE/MAX of Sparta is looking to acquire land suitable for strip center development throughout NJ on behalf of a client.

For more information, contact Kristin Mueller, RE/MAX of Sparta, 200 Woodport Road, Sparta, NJ 07871; 973-271-9553.

Kimco Realty Corp. acquired the Suburban Square shopping center, a 360,000 sq.ft. retail center located at the intersection of Anderson Avenue and Coulter Avenue in Ardmore, PA for $210 million. DRA Advisors, LLC sold the property. The center is anchored by Macy’s and is cotenanted by Ardmore Farmers Market, Trader Joe’s and Williams-Sonoma.

For more information, contact Kimco Realty Corp., 3333 New Hyde Park Road, New Hyde Park, NY 11042; 516-869-9000; Web site: www.kimco.com.

Robert H. Arnold Real Estate is selling a 3,200 sq.ft. building located on Post Avenue in Westbury, NY. The two-tenant building is fully leased with tenants including Dunkin’ Donuts. The asking price is $1.3 million.

For more information, contact Leslie Vitale, Robert H. Arnold Real Estate, 38 Glen Cove Road, Greenvale, NY 11548; 516-621-1000, Fax 516-621-1706; Email: leslievitale1@aol.com.

Eaton Vance Management acquired a 180,000 sq.ft. building situated on 16.5 acres adjacent to Park Meadows, a 1.6 million sq.ft. mall, located on South Yosemite Street in Lone Tree, CO for $33.7 million with a Cap rate of 5.3%. The building is occupied by Great Indoors and was sold by The Broe Group.

For more information, contact Eaton Vance Management, 101 Sabin Street, Pawtucket, RI 02860; 800-836-2414; Web site: www.eatonvance.com.

Century Management Group is looking to acquire freestanding single-tenant buildings nationwide currently occupied by the United States Postal Service under NNN leases. The properties should carry sale prices up to $1 million with Cap rates of at least 8%.

For more information, contact Ronald Krupinski, Century Management Group, PO Box 1111, Bristol, RI 02809; 401-427-2251, Fax 401-396-9576; Email:
centurymanagement@gmail.com; Web site: www.centurymanagementgroup.com.

Antonoff & Co. Brokerage, Inc. is selling a shopping center located on East 6th Avenue in Aurora, CO suitable for automotive and retail shops. Demographics include a population of 314,166 within a five-mile radius earning an average household income of $59,282. The average daily traffic count is 30,100 vehicles.

For more information, contact Gene Stone, Antonoff & Co. Brokerage, Inc., 1528 Wazee Street, Denver, CO 80202; 303-623-0200, Fax 303-454-5401; Email: gstone@antonoff.com; Web site: www.antonoff.com.

The Wilder Cos., in a joint venture with O’Connor Capital Partners, acquired a portfolio of 10 shopping centers located throughout MA and NH totaling 2.3 million sq.ft. The Flatley Co. sold the properties with representation by Cushman & Wakefield of Massachusetts. Acquisition financing was provided by Anglo Irish Bank.

For more information, contact Shelley G. Lord, The Wilder Cos., 800 Boylston Street, Suite 1300, Boston, MA 02199; 603-502-2788; Email: slord@wilderco.com; Web site: www.wilderco.com.

GAIA Real Estate Investments is selling a Damon’s Grill restaurant located in Middleburg Heights, OH. Area demographics include a population of 178,347 within five miles earning $62,696 as the average household income. The asking price is $3.4 million with a Cap
rate of 8.25%.

For more information, contact
Tom Lambotte, GAIA Real Estate
Investments; 858-964-2272; Email:
tom@gaiarealestateinvestments.com.

Brookside Realty Corp. is selling the Wauchula Shopping Center located in Wauchula, FL for $5.5 million with a Cap rate of 7.9%. The center is 80% leased and the NOI is $438,336 annually. The company is also looking to acquire freestanding locations, malls, outlet, power and strip centers throughout the Southeast at a Cap rate of 8%. Centers should have minimum GLAs of 100,000 sq.ft. with an occupancy rate of 20% to 100%.

For more information, contact Amy Saul, Brookside Realty Corp., 5831 Hamilton Way City, Boca Raton, FL 33496; 561-860-9459, Fax 561-994-2296; Email: amy561@aol.com; Web site: www.amyjsaul.com.

DLC Management Corp. acquired two open-air shopping centers located along Route 10 in Keene, NH. The 217,936 sq.ft. Riverside Plaza is anchored by Dollar Tree, Dunkin’ Donuts, Eckerd, Shaw’s Supermarket and Wal*Mart and has 3,500 sq.ft. of inline space available for lease. The 76,134 sq.ft. Key Road Plaza is 100% occupied and tenanted by KB Toys, Petco, RentWay, Staples and T.J. Maxx with an opportunity to increase the tenancy with the construction of a 7,500 sq.ft. outparcel for a single/multi-tenant use.

For more information, contact DLC Management Corp., 580 White Plains Road, Tarrytown, NY 10591; 866-352-6468, Fax 914-631-6533; Web site: www.dlcmgmt.com.