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Buyers & Sellers
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Buyers & Sellers Hanley Investment Group Real Estate Advisors negotiated the $16.325 million sale of three properties in CA. The company represented the buyer in the $11.4 million acquisition of Mission Village, a 60,604 sq.ft. shopping center located on East Shaw Avenue in Fresno, CA, from Mission Village. The property was 95% occupied at the time of sale, which represented a Cap rate of 6.1%. The company also represented the seller in the disposition of a 16,100 sq.ft. portion of Blythe Towne Center, situated on 0.75 acres along East Hobson Way in Blythe, CA. The 100% leased, three-building property sold for $3.175 million with a Cap rate of 6.6%. The company also represented the seller in the disposition of a 6,000 sq.ft. portion of Blythe Towne Center, situated on 0.26 acres along East Hobson Way in Blythe, CA. The 100% leased property sold for $1.71 million with a Cap rate of 6.98%. Both Blythe Towne Center portions were acquired by Missouri Plaza, LLC, which were represented by Prudential California Realty. The company also brokered the $4.2 million sale of San Jacinto Plaza, a 17,500 sq.ft. center situated on 1.89 acres along North State Street in San Jacinto, CA. The company represented the buyer and the seller, Hall & Associates. For more information regarding Fresno and Blythe, contact Eric Wohl, Hanley Investment Group Real Estate Advisors, 2569 McCabe Way, Suite 100, Irvine, CA 92614; 949-585-7610, Fax 949-585-7611; Email: info@hanleyinvestment.com; Web site: www.hanleyinvestment.com. For more information regarding San Jacinto, contact Jeremy McChesney or Eric Werner; 949-585-7671/7678. CB Richard Ellis – New England is selling Springfield Plaza, a 448,466 sq.ft. shopping center situated on 66.1 acres between St. James Avenue and Liberty Street in Springfield, MA. The 97% occupied center is anchored by Stop & Shop and Kmart. Tenants include AJ Wright, Dollar Tree, Savers, Rocky’s Hardware, AMF Bowling Center and Ocean State Job Lot, 99 Restaurant & Pub, Wendy’s, Burger King, KFC and Hollywood Video. Demographics include a population of 255,021 within a five-mile radius earning an average household income of $47,309. The average daily traffic count is 33,525 vehicles. For more information, contact Bill Moylan, Chris Angelone or Leslie Faraci, CB Richard Ellis – New England, 111 Huntington Avenue, 12th Floor, Boston, MA 02199; 617-867-2388/2381/2417, Fax 617-867-2350; Emails: bill.moylan@cbre-ne.com, chris.angelone@cbre-ne.com and leslie.faraci@cbre-ne.com; Web site: www.cbre-ne.com. GE Capital Solutions is selling the following properties: an Abuelo’s, located along West Walnut Street in Rogers, AR, for $3.227 million with a Cap rate of 7%; an Applebee’s, located on Northwest Highway in Crystal Lake, IL, for $2.159 million with a Cap rate of 6.8%; an Applebee’s, located on Harlem Avenue in Tinley Park, IL, for $2.298 million with a Cap rate of 6.8%; an Arby’s, located along 28th Street Southwest in Wyoming, MI, for $2.176 million with a Cap rate of 7.75%; an Arby’s, located along Chicago Drive Southwest in Grandville, MI, for $2.185 million with a Cap rate of 7.75%; a Captain D’s, located on State Line Road in Southaven, MS, for $2.014 million with a Cap rate of 7.3%; a Checkers, located along South State Road 7 in Plantation, FL, for $1.481 million with a Cap rate of 6.85%; a Checkers, located along Hollywood Boulevard in Hollywood, FL, for $2.006 million with a Cap rate of 6.85%; a Checkers, located along West Oakland Park Boulevard in Lauderhill, FL, for $1.964 million with a Cap rate of 6.85% and a Checkers, located along East Hillsborough Avenue in Tampa, FL for $1.249 million and a Cap rate of 6.85%. For more information, contact GE Capital Solutions; 407-540-2222; Web site: www.ge1031.com. Grubb & Ellis negotiated the $21.2 million sale of University Shopping Center, a 90% occupied, 169,989 sq.ft. center located at the intersection of Business Highway 6/Texas Avenue and Holeman Drive in College Station, TX. Principle Equity Management acquired the center from Triple Net. For more information, contact Ryan Gallagher or Michael Randall, Grubb & Ellis, 4675 Macarthur Court, Suite 1600, Newport Beach, CA 92660; 949-608-2048/2020; Emails: ryan.gallagher@grubb-ellis.com and mike.randall@grubb-ellis.com; Web site: www.grubb-ellis.com. Or Lyle Cowand, Transwestern, 1900 West Loop South, Suite 1300, Houston, TX 77027; 713-272-1277 or 713-270-7700, Fax 713-270-6285; Email: lyle_cowand@transwestern.net; Web site: www.transwestern.net. National Retail Properties is selling For more information, contact National Retail Properties, 450 South Orange Avenue, Suite 900, Orlando, FL 32801; 877-666-1031; Web site: www.nnn1031.com. NAI Realvest is selling a 3,000 sq.ft. building situated
on 1.28 acres at the intersection of Highway 31 and Vaughn Bridge Road Northwest
in Hartselle, AL. Area retail For more information regarding Hartselle, contact Mez Birdie,
NAI Realvest, 2200 Lucien Way, Suite 350, Maitland, FL 32751; 407-875-9989, Fax
407-875-3137; Email: mbirdie@realvest.com;
Web site: The Royston Group is selling a freestanding building located on an outparcel of a Target- and Home Depot-anchored center in Temple, TX. The building is currently tenanted by BJ’s Restaurant under a 20-year ground lease with 10% rent increases every five years. The asking price is $2.083 million with a Cap rate of 6%. The company is also selling a center in Flowood, MS. The center is cotenanted by Starbucks and Massage Plus under a 10-year lease and a five-year lease, respectively. The leases are subject to 10% rent increases every five years. The asking price is $1.584 million with a Cap rate of 7%. The company is also selling a freestanding building in Bulverde, TX. The building is tenanted by Wachovia Bank under a 20-year ground lease with 10% rent increases every five years. Area retail includes Home Depot, Tractor Supply Co. and H.E.B. The asking price is $2.381 million with a Cap rate of 5.25%. For more information, contact Rob Sutton, The Royston Group, 1299 Ocean Avenue, Suite 316, Santa Monica, CA 90401-1054; 310-451-2100, Fax 310-395-3557; Email: rsutton@theroystongroup.com; Web site: www.theroystongroup.com. Weinberg International, on behalf of a client, is looking to acquire grocery-anchored centers in primary, secondary and tertiary markets nationwide. For more information, contact Gavriel Weinberg, Weinberg International, Beit Shemesh, Israel; Emails: weinberg5@012.net.il or gavrielweinberg@yahoo.com. Cedar Shopping Centers, Inc. acquired Timpany Plaza, a 183,775 sq.ft. center located in Gardner MA. The center is anchored by Stop & Shop. The company also acquired Carll’s Corner, a 129,582 sq.ft. center located in Bridgeton, NJ. The center is anchored by Acme. The purchase price for both properties was $31.5 million and the properties were acquired from Paragon Realty Group, LLC. For more information, contact Cedar Shopping Centers, Inc.,
44 South Bayles Avenue, Port Washington, NY 11050-3765; 516-767-6492; Web site:
Woolbright Development, Inc. acquired Abacoa Town Center, a 91,400 sq.ft. shopping center located at the intersection of Main Street and Town Center Drive in Jupiter, FL. Tenants of the center include Starbucks, Style So Chic, Angry Moon Cigars, Rooney’s Public House, Masa’s Sagami, JJ Muggs, Jumby Bay Island Grill and Christine Lee’s. For more information, contact Woolbright Development, Inc., 3200 North Military Trail, Fourth Floor, Boca Raton, FL 33431; 561-989-2240; Web site: www.woolbright.net. Colliers Arnold is selling a 5.5-acre parcel located along Plantation Road in Fort Myers, FL. Area retail includes Publix, Sweetbay, Home Depot, Lowe’s Home Improvement, Wal*Mart, Costco, Cypress Trace Shopping Center and The Bell Tower Shops. Demographics include a trade-area population of 44,511 earning an average household income of $59,021. For more information, contact Jim Garinger or Andrew Falde, Colliers Arnold, 12730 New Brittany Boulevard, Suite 300, Fort Myers, FL 33907; 239-418-0300 Ext. 203/226, Fax 239-790-3707; Emails: jgaringer@colliersarnold.com and afalde@colliersarnold.com; Web site: www.colliersarnold.com. Coldwell Banker Commercial NRT, on behalf of a client, is looking to acquire single-tenant retail sites nationwide. Suitable properties should be on- or off-market with a minimum Cap rate of 8%. For more information, contact Jecoah Byrnes or Daniel Hamann, Coldwell Banker Commercial NRT, 8490 East Crescent Parkway, Suite 250, Greenwood Village, CO 80111; 303-843-1600, Fax 303-409-6333; Emails: jecoah@mac.com and daniel.hamann@nrtcolorado.com. Realty Capital Commercial Real Estate Services is selling a 12,000 sq.ft. freestanding building located along U.S. Highway 27 in Leesburg, FL. Area retail includes Publix. Demographics include a population of 19,283 within a five-mile radius earning a median household income of $41,977. The average daily traffic count is 22,331 vehicles. The asking price is $2.9 million. The company is also selling a 29.01-acre parcel located at the intersection of Eastmar Commons Boulevard and Dean Road in Orlando, FL. Demographics include a population of 233,879 within a five-mile radius earning a median household income of $43,477. The asking price is $8.592 million. For more information regarding Leesburg, contact Chris Means, Realty Capital Commercial Real Estate Services, 605 East Robinson Street, Suite 500, Orlando, FL 32801; 407-843-7070 Ext. 169, Fax 407-843-2070; Email: cmeans@realtycapitaltcn.com; Web site: www.realtycapitaltcn.com. For more information regarding Orlando, contact Thomas Hankins; 407-843-7070 Ext. 112; Email: thankins@ccim.net. Sperry Van Ness – Commercial Real Estate Advisors brokered the $3.9 million sale of four Ponderosa Steakhouses. The properties are located along East Waterloo in Akron, OH; Wabash Avenue in New Philadelphia, OH; State Road in Cuyahoga Falls, OH and Oberlin Road in Lorain, OH. The company represented the seller as part of a sale and lease-back program. The company also negotiated the $3.5 million sale of Cherry Point Mall, an 87% occupied, 134,015 sq.ft. center situated on nine acres along Egg Harbor Road in Sturgeon Bay, WI. The company represented the seller, Ochs Development, LLC, in the disposition to WisConn Properties, LLC. For more information, contact David Ebeling, Sperry Van Ness – Commercial Real Estate Advisors, 18881 Von Karman, Suite 800, Irvine, CA 92612; 949-250-4100, Fax 949-251-9200; Email: david.ebeling@svn.com; Web site: www.svn.com. Premier Commercial Realty-The Power Team, on behalf of a client, is looking to acquire sites throughout the Crystal Lake, Grayslake and Bloomingdale, IL metropolitan areas. Suitable sites will accomodate 1,000 sq.ft. to 1,400 sq.ft. buildings with drive-thrus. For more information, contact Joseph Billitteri, Premier
Commercial Realty-The Power Team, 9225 South Route 31, Lake in the Hills, IL
60156; 847-854-2300; Email:
joeb@profit-success.net; Web site: Net Leased Investment Co. is selling a 10,650 sq.ft. freestanding building situated on a 0.88-acre parcel along Edmondson Avenue in Catonsville, MD. The building is tenanted by CVS under a 20-year NN lease with eight years remaining and four, five-year options with rent increases. The asking price is $1.828 million. For more information, contact Bob Fraser, Net Leased
Investment Co., 120 Alexandria Boulevard, Suite 18, Oviedo, FL 32765;
407-977-2448 Ext. 25, Fax 407-977-0775; Email:
bobfraser@netleased.com; Web site:
Coldwell Banker Village Communities is looking to acquire off-market properties in primary and secondary markets of San Francisco, CA; Denver, CO; Miami, FL; Atlanta, GA; Chicago, IL; Boston, MA; Minneapolis, MN; Las Vegas, NV and Chattanooga, TN on behalf of a client. Properties should be valued from $5 million and have occupancy rates above 70%. 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; Web site: www.coldwellbankerjonesboro.com. TREC Investments is selling Shorewood Crossing, a 29,030 sq.ft. center located in Shorewood, IL. The center is shadow-anchored by Jewel/Osco and tenants include Fifth-Third Bank, Sprint PCS, Jackson Hewitt and Lewis University. All leases are NNN with annual rent increases. Demographics include a population within a three-mile radius earning an average household income of $88,637. The average daily traffic count is 29,500 vehicles. The asking price is $12 million with a Cap rate of 8.34%. For more information, contact Brian DiSalvo, TREC
Investments, 2801 North Tenaya Way, Las Vegas, NV 89128; 702-851-9008, Fax
212-602-0101; Email:
bdisalvo@trecbuys.com; Web site: Baker Katz is selling Fry @ Clay Shopping Center, a
13,500 sq.ft. center situated on 1.29 acres at the intersection of Fry Road and
Clay Road in Katy, TX. The 100% leased center includes AT&T Wireless, Chloe
Dental, Bits & Bytes Computers, Salon Diva, Fabric Dry Cleaners, Maui Wowi and
Baccallis Café as tenants. Demographics include a population of 63,775 within a
three-mile radius earning an average household income of $76,560. The average
daily traffic count is 53,449 vehicles. The NOI is $278,353. The For more information, contact Baker Katz, 3355 West Alabama
Street, Suite 1177, Orion Investment and Management Ltd. Corp. is selling a 30,054 sq.ft. freestanding building situated on three acres along North Stemmons Freeway in Dallas, TX currently tenanted by Office Depot. The 15-year lease, which commenced in 1998, features rent increases every five years and four, five-year options. The asking price is $5.6 million with a Cap rate of 7%. For more information, contact Joe Sanz or Norman Buhrmaster, Orion Investment and Management Ltd. Corp., 9155 South Dadeland Boulevard, Suite 1602, Miami, FL 33156; 305-278-8400; Emails: jsanz@orionmiami.com and nbuhrmaster@orionmiami.com; Web site: www.orionmiami.com. Charles Rutenberg Realty is selling a 0.39-acre parcel located along Orange Blossom Trail in Orlando, FL. The asking price is $249,900. For more information, contact Mario Augusto Blanca, Charles Rutenberg Realty, 933 Lee Road, Suite 300, Orlando, FL 32810; 407-460-0443; Email: bestorlandohomes@aol.com. CB Richard Ellis is selling an 86,504 sq.ft. portion of Talavi Towne Center, a 307,266 sq.ft. center located at the intersection of 59th Avenue and Bell Road in Glendale, AZ. Tenants include Anna’s Linens, Michaels, Mor Furniture, Leslie’s Pool Mart, Cornerstone Flooring, Indian Maharaja, Payless ShoeSource, Check ‘N Go and Tokyo Lobby. The center is anchored by Wal*Mart Supercenter. For more information, contact Glenn Smigiel, Bob Young or Steven Brabant, CB Richard Ellis, 2415 East Camelback Road, Phoenix, AZ 85016; 602-735-5604/5576 or 818-735-0902, Fax 602-735-5655; Web site: www.cbre.com/phoenix. Besen and Associates, Inc., on behalf of a client, is acquiring sites in CT, NJ, NY, excluding the New York, NY metropolitan area, and PA. Sites should be valued between $8 million and $10 million with NNN national tenants. For more information, contact Lou Corti, Besen and Associates, Inc., 381 Park Avenue South, Room 1517, New York, NY 10016; 212-951-8410, Fax 212-481-2404; Email: lcorti@besenassociates.com. Century 21 Strait Realty, Inc. is selling a 2,800 sq.ft. former Taco Bell located in Defiance, OH. Area retail includes Wendy’s, McDonald’s, Taco Bell, Kroger and Big Lots. For more information, contact Mark Baringer, Century 21
Strait Realty, Inc., 509 Fourth Street, Defiance, OH 43512; 419-782-1950, Fax
419-782-1957; Email: Richardshon Real Estate Group is selling a 54,920 sq.ft. shopping center in Nicholasville, KY. The center is 90% occupied and is shadow-anchored by Wal*Mart. The asking price is $6 million with a Cap rate of 9.3%. For more information, contact David Richardson, Richardson Real Estate Group; 859-983-1380, Fax 859-299-9183; Email: drichardson@rregroup.com. Weingarten Realty Advisors acquired a 97,207 sq.ft. center located on Southeast McLaughlin Boulevard in Milwaukie, OR. The company acquired the property for $16.35 million from PFRS Oak Grove Corp. For more information, contact Weingarten Realty Investors, 2600 Citadel Plaza Drive, Houston, TX 77008; 916-727-2113/2101, Fax 916-727-1030; Web site: www.weingarten.com. Developers Diversified completed the $26.8 million sale of two shopping centers to a joint venture including the company and Macquarie DDR Trust. Piedmont Plaza, located in Orlando, FL, is a 90.3% occupied, 148,075 sq.ft. center. Winterpark Palms, located in Orlando, FL, is a 97.3% occupied, 112,292 sq.ft. center. For more information, contact Developers Diversified Realty; 216-755-5782; Web site: www.ddr.com. Hampshire Partners Fund IV sold an 80,000 sq.ft. retail building located along Mount Hope Avenue in Rockaway, NJ. Carport, LLC and 111 ON Realty Corp. acquired the property, which is currently tenanted by Dick’s Sporting Goods. The company was represented by CB Richard Ellis. For more information, contact The Hampshire Cos., 15 Maple Avenue, Morristown, NJ 07960; 973-292-9595, Fax 973-267-9933. Sperry Van Ness is selling two portions of East Court Village, a center located on East Court Street in Pekin, IL and shadow-anchored by Tractor Supply Co., Steve & Barry’s, Hobby Lobby and Bergners. The first portion is 89% occupied with an asking price of $1.435 million. The second portion is 100% occupied with an asking price of $1.75 million. For more information, contact Tom Vincent, Sperry Van Ness, 1803 Hicks Road, Rolling Meadows, IL 60008; 847-963-1031. Colliers International is selling a 3,567 sq.ft. building located at the intersection of East Florence Avenue and Santa Fe Avenue in Huntington Park, CA. The building is tenanted by Carl’s Jr. The NOI is $99,922. The asking price is $1.8 million with a Cap rate of 5.55%. For more information, contact Steve McDonald, Colliers
International, 865 South Figueroa Street, Suite 3500, Los Angeles, CA 90017;
213-532-3229, Fax 213-327-3230; Email: Quine & Associates, Inc. is selling a 12,000 sq.ft. center located in Dallas, TX. The asking price is $2.5 million with a Cap rate of 7.8%. The company is also selling a 100% leased, 9,200 sq.ft. center shadow-anchored by Tom Thumb in Dallas, TX. The asking price is $2.6 million with a Cap rate of 7%. For more information, contact Douglas Wilder, Quine & Associates, Inc., 301 South Sherman Street, Richardson, TX 75081; 972-669-8440 Ext. 242, Fax 972-783-8901; Email: dwilder@quine.com.
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