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Buyers & Sellers
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Buyers & Sellers Cushman & Wakefield of Georgia, Inc. is selling a 129,348 sq.ft. portion of Colonial Promenade Alabaster II, a 359,824 sq.ft. power center situated on 46.87 acres at the intersection of Interstate 65 and Highway 31 in Alabaster, AL. The center is anchored by Best Buy, PetSmart and T.J. Maxx and shadow-anchored by Target and JCPenney. Demographics include a population of 47,524 within a five-mile radius earning an average household income of $74,753. The company is also selling Deerfield Plaza, a 90.55% occupied, 94,573 sq.ft. center located at the intersection of South Orange Blossom Trail and Deerfield Boulevard in Orlando, FL. The center is anchored by LA Fitness and tenants include Wendy’s. Demographics include a population of 135,364 within a five-mile radius earning an average household income of $59,607. The average daily traffic count is 51,500 vehicles. For more information, contact Kris Cooper, Margaret Caldwell or Christie Hawver, Cushman & Wakefield of Georgia, Inc., 1201 West Peachtree Street, 3300 One Atlantic Center, Atlanta, GA 30309-3425; 404-853-5376/5364/5367, Fax 404-875-4637; Emails: kris.cooper@cushwake.com, margaret.caldwell@cushwake.com and christie.hawver@cushwake.com. Real Estate Foundation, Inc., on behalf of clients, is looking to acquire single-tenant properties with zero cashflow as well as NNN shopping centers and single-tenant properties. For more information, contact Alan Fruitman, Real Estate Foundation, Inc., 800-454-0015, Fax 866-288-0837; Email: alan@1031tax.com; Web site: www.1031tax.com. Holliday Fenoglio Fowler, LP is selling Round Rock Crossing, a power center located in Round Rock, TX. The center is anchored by Target, Best Buy and Michaels. Cotenants include Stein Mart, Jason’s Deli and Sportsman’s Warehouse. For more information, contact Jim Batjer, Barry Brown, John Bourret or Judd Adams, Holliday Fenoglio Fowler, LP, 9 Greenway Plaza, Suite 700, Houston, TX 77046; 469-232-1970/1968/1962/1952, Fax 214-265-9564. Block & Co., Inc. is selling a five million sq.ft. strip center portfolio including properties throughout the Mid-Atlantic, Midwest and Southwest, as well as FL and TX. For more information, contact Michael Block, Block & Co., Inc., 700 West 47th Street, Suite 200, Kansas City, MO 64112-1922; Email: mblock@blockandco.com. Marcus & Millichap Real Estate Investment Services is selling Westgate Plaza, a 155,202 sq.ft. shopping center situated on 15.47 acres along Westgate Drive in Durham, NC. The center is anchored by Circuit City, Toys "R" Us and Ashley Furniture Homestore. The center is cotenanted by Burger King, Cardinal State Bank, El Rodeo Restaurant, Fitness World, Rugged Warehouse and Tuesday Morning. Area retail includes SuperTarget, Ross Dress for Less, Sam’s Club and Office Depot. The asking price is $11.5 million. The company also completed the $5.25 million sale of Lake Mary Plaza, a shopping center located in Lake Mary, FL. The sale price reflects a Cap rate of 6.38%. The company also negotiated the sale of a portfolio of four freestanding Rite Aid buildings in Cadiz, Carrollton, East Liverpool and Lisbon, OH. American Realty Capital acquired the portfolio from Orion Development, which was represented by Marcus & Millichap. The portfolio sold for $7.515 million, reflecting a Cap rate of 7.7%. The company is also selling Fountain Park Shopping Center, a 94,185 sq.ft. center situated on 7.02 acres along U.S. Highway 41 in Schererville, IN. The center is 97.5% occupied with tenants including Ashley Furniture, US Cellular, Houlihan’s and Moe’s Southwest Grill. The asking price is $22.75 million. For more information regarding Westgate Plaza and Fountain Park Shopping Center, contact Stacey Corso, Marcus & Millichap Real Estate Investment Services; 925-953-1716; Email: scorso@marcusmillichap.com. For more information regarding Lake Mary Plaza, contact Nicholas Ledvora, 1900 Summit Tower Boulevard, Suite 650, Orlando, FL 32810; 407-557-3800, Fax 407-557-3953; Email: nledvora@marcusmillichap.com. For more information regarding the Rite Aid portfolio, contact Spencer Yablon, 1628 JFK Boulevard, Suite 1200, Philadelphia, PA 19103; 215-557-0900, Fax 215-557-0966. Sperry Van Ness is selling a 1.23-acre parcel located along East Franklin Boulevard in Gastonia, NC. Area retail includes Wal*Mart, Best Buy, Sam’s Club, Lowe’s Home Improvement and Home Depot. The average daily traffic count is 33,000 vehicles. The asking price is $950,000. The company is also selling a 13,000 sq.ft. building in Charlotte, NC. Area retail includes Northlake Regional Mall. The average daily traffic count is 110,000 vehicles. For more information, contact Randall Bozard, Sperry Van Ness, 19901 West Catawba Avenue, Suite 102, Cornelius, NC 28031; 704-892-5653 Ext. 23, Fax 704-892-7392; Email: randall.bozard@svn.com. Coldwell Banker Commercial Mountain West Real Estate, LLC is selling a 1,296 sq.ft. building located along East Ellendale Avenue in Dallas, OR for $265,000. The building is currently tenanted by Taco Time. For more information, contact Alex Rhoten, Tiffany Jones or Staci Herndon, Coldwell Banker Commercial Mountain West Real Estate, LLC, 250 Division Street Northeast, Salem, OR 97301; 503-587-4777, Fax 503-588-3514. Sierra Commercial Real Estate, Inc. is selling
various sites in Pueblo, CO, including parcels of 2.96 acres to 3.3 acres along
with pad sites of 25,000 sq.ft. to 35,000 sq.ft. at the intersection of Mirror
Avenue and Pueblo Boulevard. The asking price ranges from $7 psf to $15 psf. The
company is also selling an adjacent 40.33-acre parcel for $2 psf For more information, contact Lori Ondrick, Sierra Commercial Real Estate, Inc., 102 South Tejon Street, Suite 750, Colorado Springs, CO 80903; 719-955-2022, Fax 719-955-2019; Email: londrick@sierracre.com. Vintage Capital Group, LLC is looking to acquire shopping centers throughout AZ, CA, CO, NM, NV, TX and WA. Suitable sites should have GLAs larger than 100,000 sq.ft. with an occupancy rate below 75% and the potential for added value. Demographics should include a median household income above $50,000. For more information, contact Peter Vazquez, Vintage Capital
Group, LLC, 11611 San Vicente Boulevard, Suite 1000, Los Angeles, CA 90049;
310-979-9090 Ext. 130, Fax 310-820-6584; Web site: The Wiles Group of Marcus & Millichap is selling Maingate Shopping Center, a 24,275 sq.ft. strip center located in Cleveland, OH for $2.27 million at a Cap rate of 9%. The center is situated on a land area of two acres and is anchored by the State of Ohio Government. Demographics include a population of 376,114 within a five-mile radius. The average daily traffic count is 31,600 vehicles. For more information, contact Erin Wiles-Patton, The Wiles
Group of Marcus & Millichap; 614-464-1400 Ext. 107, Fax 614-474-1696; Email: BPG Properties, Ltd. acquired Winterwood Pavilion, located at the intersection of Nellis Boulevard and Sahara Avenue in Las Vegas, NV, for $23.88 million. The 144,653 sq.ft. center is anchored by Von’s and tenanted by Aaron’s Rents, Carl’s Jr., Panda Express, Little Caesar’s, Washington Mutual and Blockbuster Video. REZA Investment Group, Inc. represented the seller. For more information, contact Elizabeth Owens, BPG Properties, Ltd., 3000 Centre Square West, 1500 Market Street, Philadelphia, PA 19102; 215-575-2431; Web site: www.bpgltd.com. Hanley Investment Group negotiated the $4.5 million sale of Rowland Heights Auto Center, a 27,309 sq.ft. center situated on 1.72 acres along Labin Court in Rowland Heights, CA. Tenants include Colima Auto Repair, Brake Express, Topnotch Auto, One Stop Auto and Speedway Muffler. The company represented the seller, Diamond Development, LLC. For more information, contact Edward Hanley or Kevin Fryman, Hanley Investment Group, 2569 McCabe Way, Suite 100, Irvine, CA 92614; 949-585-7677/7674, Fax 949-585-7611; Email: info@hanleyinvestment.com. Wolf-Lurie Realty is selling two storefront spaces encompassing 10,000 sq.ft. along Jerusalem Avenue in Bellmore, NY. The asking price is $1.25 million. For more information, contact Bill Maurer, Wolf-Lurie Realty, 625 Middle Neck Road, Great Neck, NY 11023; 516-482-3200, Fax 516-482-3236; Emails: bmaurer@wolf-laurie.com and myrealtyspace@aol.com. Capital Pacific is selling a portfolio of 17 IHOP restaurants nationwide totaling 68,340 sq.ft. The NOI is $2.087 million. The asking price is $28.798 million with a Cap rate of 7.25%. For more information, contact Joe Caccamo, Chris Kostanecki, Chris Peters or Zeb Ripple, Capital Pacific, 255 California Street, Suite 400, San Francisco, CA 94111; 415-274-7394/2701/2703/2702. JE Capital Investments is looking to acquire sites throughout CA, CT, FL, GA, IL, NC, NV, NY and TX. Suitable properties should have GLAs above 30,000 sq.ft. with an occupancy rate below 75% and demographics including a median household income of $40,000. For more information, contact Joshua Emory, JE Capital
Investments; 305-761-3509, Fax 305-670-0228; Email: RCG Ventures acquired a seven-property portfolio, including: County Park Plaza, a 60,750 sq.ft. center located in Scottsboro, AL; Collins Park Commons, a 37,458 sq.ft. center located in Plant City, FL; Buena Vista Village, a 17,500 sq.ft. center located in Columbus, GA; Statesboro Square, a 41,000 sq.ft. center located in Statesboro, GA; Anderson Plaza, a 46,258 sq.ft. center located in Greenwood, SC; Beach Crossing, a 45,790 sq.ft. center located in Myrtle Beach, SC and Briarcliff Square, a 41,778 sq.ft. center located in Oak Ridge, TN. The company acquired the properties from Centro. The company is also looking to acquire retail and hospitality properties throughout the central and eastern U.S. For more information, contact Jim O’Donnell, Michael McMillen or Parker Blanchard, RCG Ventures, 2970 Peachtree Road, Suite 805, Atlanta, GA 30305; 404-816-5454 Ext. 11/10/15, Fax 404-816-5445. Income Property Advisor is selling a grocery-anchored center in Oakland, CA. The asking price is $21 million. For more information, contact Norman Neinchel, Income Property Advisor, 190 Rose Court, Suite 3, Campbell, CA 95008; 408-378-4488, Fax 408-378-6488; Email: normanneinchel@comcast.net; Web site: www.4-income-property-value-software.com. Great Northern Realty Partners, LLC is selling a 19,751 sq.ft., 100% occupied center located in Longmeadow, MA. The NOI is $212,255. The asking price is $3.3 million. For more information, contact William LaMontagne, Great Northern Realty Partners, LLC, 69 West Main Street, New Britain, CT 06051; 860-558-6895, Fax 860-223-1668; Email: wlamontagne@cox.net. Mid-America Asset Management, in partnership with Orput Cos., Inc. and Archon Group, acquired a 90-acre parcel located at the intersection of State Route 120 and U.S. Highway 12 in Volo, IL. The group plans to develop a 725,000 sq.ft. open-air regional shopping center on the site. Phase one will consist of 400,000 sq.ft. and will open during 2009. For more information, contact Mid-America Asset Management, One Parkview Plaza, 9th Floor, Oakbrook Terrace, IL 60181-4713; 630-954-7300, Fax 630-954-7304. Fortune International Realty is selling a 23,750 sq.ft. mixed-use building with retail and office components in Brickell, FL. The asking price is $13.5 million. For more information, contact Fabo Faerman, Fortune International Realty, 1390 Brickell Avenue, Suite 104, Miami, FL 33131; 305-400-6395, Fax 305-400-6394; Web site: www.fir.com.
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