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Buyers & Sellers
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Buyers & Sellers Hanley Investment Group is selling Warm Springs Plaza, a 75,964 sq.ft. neighborhood shopping center located at the intersection of Warm Springs Road and Eastern Avenue in Las Vegas, NV for $20.425 million. The 96% leased center is tenanted by Fresh & Easy Neighborhood Market and is the first center to be anchored by the Tesco concept in the U.S. The company is representing the seller, Toibb Enterprises. The company is also selling Grand Covina Plaza, a 112,200 sq.ft. neighborhood shopping center situated 8.76 acres at the intersection of Grand Avenue and Covina Boulevard in Covina, CA. Alberstons and Drug Emporium anchor the center, which is 96% occupied with cotenants including 7-Eleven, Farr’s Hallmark Stationers, H&R Block, KFC and Radio Shack. In addition, the company is selling Ingram Square, a 98,829 sq.ft. shopping center situated on 10.02 acres on Ingram Road in San Antonio, TX, for $7.38 million at a Cap rate of 8%. The center is 86% occupied and is tenanted by Ace Cash Express, EZ Money Loan Services, Firestone Tires, Jackson Hewitt and Texas Thrift Store. For more information, contact Edward PGD Investment Properties is looking to acquire sites shadow-anchored by big box tenants or shopping centers throughout FL, TX and the West Coast priced between $3 million and $6 million. For more information, contact Parviz Donboli, PGD Investment
Properties, 23233 North Pima Road, Suite 113, Scottsdale, AZ 85255;
480-219-7219, Fax 480-393-7730; GAIA Real Estate Investments is selling a 53,534 sq.ft. Jack in the Box and Starbucks site for $2.943 million at a Cap rate of 5.75%. The net operating income is $169,200. Jack in the Box has a 20-year ground lease and Starbucks has a 10-year ground lease. Jack in the Box will occupy 2,654 sq.ft. on a land area of 29,744 sq.ft. and Starbucks will be built on 23,790 sq.ft. Trade-area demographics include a population of 111,492 and a population within one mile earning $109,235 as the average household income. For more information, contact Tom Lambotte, GAIA Real Estate
Investments; 858-488-0591; Marcus & Millichap Real Estate Investments Services is selling several sites throughout TX, including: Skillman Commons, a 59,153 sq.ft. center located in Dallas, for $5.3 million; Shops at Park Vista, a 16,800 sq.ft. center located in Fort Worth, at $3.9 million; an 11,200 sq.ft. CVS in Grand Prairie for $3.25 million that is under a NNN lease; a Kroger location in Fort Worth at a Cap rate of 8.5%; a Majestic Fine Wines & Spirits portfolio throughout TX at a Cap rate of 8.25%; Hulen Crossing, located in Forth Worth, for $2.158 million at a Cap rate of 7.65%; a Christian Brothers Automotive portfolio at a Cap rate of 7.5%; a Texas Land & Cattle restaurant, located in Dallas-Fort Worth, for $2.413 million at a Cap rate of 7.5% and Hampton Road Shopping Center, located in DeSoto, for $550,000 at a Cap rate of 8.85%. For more information regarding Skillman Commons and CVS, contact Philip Levy, Marcus & Millichap Real Estate Services; 972-980-4800. For more information regarding Shops at Park Vista, contact Gavin Kam or Brad Kam; 972-980-4800. For more information regarding Kroger, contact Samuel Herskovits; 972-980-4800. For more information regarding Majestic Fine Wines & Spirits, contact Jason Vitorino or Gavin Kam; For more information regarding Hulen Crossing and Christian Brothers Automotive, contact Jason Vitorino. For more information regarding Texas Land & Cattle, contact Don Stringham; 713-626-3040. For more information regarding Hampton Road Shopping Center, contact Michael Zimmerman or B.J. Elliot; 972-980-4800. Fickling & Co. is selling Peach Crossing Shopping Center, a 22,500 sq.ft. project located on Highway 49 in Byron, GA, for $3.2 million at a Cap rate of 8%. The average daily traffic count is 20,000 vehicles. Area retail includes Waffle House, Dairy Queen and Advance Auto Parts. The company is also selling a Meineke location on Watson Boulevard in Warner Robins, GA for $225,000. The average daily traffic count of 31,330 vehicles. For more information regarding Peach Crossing, contact Trip
Wilhoit or Patty Burns, Fickling & Co., 577 Mulberry Street, PO Box 310, Macon,
GA 31202; 478-746-9421, Fax 478-742-2015; For more information regarding Meineke, contact Wendy Pierce or Kara Thompson. MCB Real Estate, LLC is looking to acquire value-add retail, office or light industrial sites in the Mid-Atlantic and Northeast for $10 million and up. For more information, contact Andy Posil, MCB Real Estate, LLC; 410-662-0104 Ext. 115; Email: aposil@mcbrealestate.com. National Commercial Brokers, Inc. is selling a 2,410 sq.ft. Friendly’s site situated on a land area of 19,816 sq.ft. at the intersection of Joseph W. Warmer Boulevard and Winthrop Street in Taunton, MA. The average daily traffic count is 20,100 vehicles. Area retail includes CVS, McDonald’s and Shaw’s. Area demographics include a population of 72,968 within five miles earning $52,420 as the average household income. For more information, contact Brian Nadler, National
Commercial Brokers, Inc., 75 Second Avenue, Suite 315, Needham, MA 02494;
781-453-0360, Fax 781-453-0390; The Prakas Group, Inc. brokered the $1.7 million sale of a two-acre outparcel located at the intersection of SR 7/U.S. Highway 441 and Okeechobee Road in Royal Palm Beach, FL. Paradise Development sold the site to Pizzi I Real Estate Ventures, LLC, which plans to build a 7,000 sq.ft. Uno Chicago Grill restaurant. Opening is slated for the first quarter of 2008. For more information, contact The Prakas Group, 705 East
Palmetto Park Road, Boca Raton, FL; 561-368-0003; Ilmarin Financial Services, LLC represents a
client looking to acquire retail sites with GLAs of 70,000 sq.ft., as well as
For more information, contact Paul E. Guaraldi, Ilmarin
Financial Services, LLC, 320 Southeast 12th Avenue, Pompano Beach, FL
33060; 954-759-4544, Fax 866-311-7546; Prudential Georgia Realty is selling a 0.62-acre parcel on Riverstone Parkway in Canton, GA for $699,000. Nearby draws include a hospital and YMCA. For more information, contact Mike Ragab, Prudential Georgia Realty; 770-720-1400, Fax 801-516-4445. Sperry Van Ness sold a 2,574 sq.ft. Jack in the Box site situated on 0.8 acres on Citrus Drive in Ventura, CA for $1.65 million at a Cap rate of 5.5%. The company represented the seller. Jack in the Box operates under a NNN lease. For more information, contact David Ebeling or Darcie
Giacchetto, Sperry Van Ness; 949-225-1883 or 949-278-6224; Fullerton Properties Realty is selling a 2,659 sq.ft. site and a 3,111 sq.ft. site located in the downtown Dadeland section of Miami, FL. For more information, contact Lizet Fullerton, Fullerton
Properties Realty, 269 Giralda Avenue, Suite 102, Coral Gables, FL 33134;
305-461-9129, Fax 305-461-9128; Real People Realty is selling a Kims Factory Outlet site in South Cicero, IL for $2.4 million. The center totals 23,000 sq.ft. and is 70% leased. For more information, contact Senad Hodzic, Real People
Realty, 7256 Benton Drive, Frankfort, IL 60423; 773-818-2210; RCG Ventures acquired a seven-property shopping center portfolio from Centro. The portfolio totaled 300,000 sq.ft. and included sites located in Scottsboro, AL; Plant City, FL; Columbus, GA; Statesboro, GA; Greenwood, SC; Myrtle Beach, SC and Oak Ridge, TN. Anchors of the centers include Food Lion, Southern Family Markets, Tractor Supply Co., Big Lots and Dollar General. Staubach Capital Marketing Group represented the seller. For more information, contact Mike McMillen or Jim O’Donnell,
RCG Ventures, 2970 Peachtree Road, Suite 805, Atlanta, GA 30305; 404-816-5454,
Fax 404-816-5445; Equity Retail Sales & Leasing is selling an 8,715 sq.ft. center located in Reynoldsburg, OH for $1.05 million at a Cap rate of 8.5%. The center is 100% leased with NNN tenants under leases of three to five years. For more information, contact Kevin Thaxton, Equity Retail
Sales & Leasing, 100 East Wilson Bridge Road, Suite 200, Worthington, OH 43085;
614-802-2900 Ext. 209 or 614-310-2109, Fax 614-802-2901; Millco Investments is selling The Shoppes at Winnemucca, a 15,412 sq.ft. Family Dollar-anchored shopping center situated on 1.4 acres in Winnemucca, NV for $2.298 million. Area retail includes Albertsons, Domino’s Pizza, Burger King, McDonald’s, Raley’s, Blockbuster Video, KFC, Arby’s, Wal*Mart Supercenter, Flying J’s Truck Stop and Taco Bell. Area demographics include a population of 12,128 within five miles earning $69,577 as the average household income. The net operating income is $154,009. For more information, contact Jordan J. Kaufman, Millco
Investments, 19 South LaSalle Street, Suite 1000, Chicago, IL 60603;
312-377-7800 Ext. 103, Fax 312-377-7898; A&B Properties, Inc. the real estate subsidiary of Alexander & Baldwin, Inc., sold a four-acre parcel in Honolulu, HI for $45.5 million to Don Quijote (USA), which had been ground leasing the site. ChaneyBrooks represented the buyer. For more information, contact Meredith J. Ching, A&B
Properties, Inc., 812 Bishop Street, Honolulu, HI 96813; 808-525-6669, Fax
808-525-8117; Regency Properties acquired Goody’s Plaza, a 43,720 sq.ft. shopping center located on Highway 62 in Madison, IN. Goody’s and Dollar Tree anchor the center. Upon completing the sale, the company leased 4,945 sq.ft. to Hibbett Sporting Goods. In addition, the company will also be expanding the site to include 2,400 sq.ft. for two stores. The center will total 51,000 sq.ft. when completed during 2008. For more information, contact Julie Clayton, Regency
Properties; 812-424-9200; Wagner Realty is selling a 16,610 sq.ft. Shapes Fitness
location in Bradenton, FL. The tenant is relocating during January. The site can
be subdivided to 11,530 sq.ft. and 5,080 sq.ft. The average daily traffic count
is For more information, contact Ken Hughes, Wagner Realty, 3639 Cortez Road,
Suite 200, Bradenton, FL 34210; 941-727-2800, Fax 941-727-2900;
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