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Buyers & Sellers
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Buyers & Sellers CB Richard Ellis | The Boulos Co. is selling a 99-year ground lease located in ME for $15.95 million at a Cap rate of 7%. Net income is about $1.11 million annually. For more information, contact Daniel Greenstein or C. Anthony
McDonald, CB Richard Ellis | The Boulos Co., One Canal Plaza, Suite 500,
Portland, ME 04101; 207-772-1333, Fax 207-871-1288; Amercon Realty Service, Inc. is selling a 14,690 sq.ft. freestanding CVS situated on a land area of 2.39 acres in northern VA. The site is adjacent to a 47,000 sq.ft. shopping center anchored by Bloom and will be ready for occupancy between this month and next month. The company is also selling a 14,820 sq.ft. freestanding Walgreens situated on 1.40 acres in Dover, DE that will be completed between December and January. Both tenants have corporate guarantees. For more information, contact W. Barry Lammersen, Amercon
Realty Service, Inc.; 480-481-0600, Fax 480-481-9718; Net Leased Real Properties is selling Sonic restaurants with corporate NNN leases throughout KY, specifically in Cadiz and on Russellville Road, Scottsville Road and Louisville Road in Bowling Green, and throughout TN in Ashland City, Centerville, Dover, Greenbrier, Kingston Springs, Mount Juliet, Pleasant View, Westmoreland and White House. The asking prices range from $950,000 to $1.85 million at a Cap rate of 6%. The leases have 14 years remaining with 10% increases every five years and three, five-year options. For more information, contact Shawn Jass, Net Leased Real
Properties, 785 Grand Avenue, Suite 101, Carlsbad, CA 92008; 760-434-7904, Fax
760-434-7910; Pyramid Real Estate Group is selling a Stop & Shop location in Bridgeport, CT for $12 million at a Cap rate of 6.5%. The tenant operates under a 20-year lease and the site includes a 15,000 sq.ft. expansion. For more information, contact Brian J. Dornan, Pyramid Real Estate Group, 20 Summer Street, Stamford, CT 06901; 203-348-8566 Ext. 130, Fax 203-358-9763. Marcus & Millichap Real Estate Investment Services arranged the sale of Renaissance Center, a 100,282 sq.ft. neighborhood shopping center situated on 9.6 acres on Scott Street in Houston, TX. HEB Pantry anchors the center, with cotenants including Rent-A-Center and Taco Bell. The company also arranged the sale of Country Square Shopping Center, an 80,000 sq.ft. center on Route 309 in Quakertown, PA acquired by U.S. Real Estate Acquisitions for $9.5 million from Saul Associates. The company also arranged the $12.4 million sale of Warminster Plaza, a 130,000 sq.ft. strip center located at the intersection of York Road and Street Road in Warminster, PA acquired by Walnut Street Capital. Rite Aid and Staples anchor the center. The company is also selling Chestnut Avenue Plaza, a 98,243 sq.ft. center located at the intersection of East Chestnut Avenue and First Street in Altoona, PA, for $24.5 million. The company is representing the seller, Chestnut Avenue, LP. The average daily traffic count is 23,000 vehicles. Martin’s anchors the center, with cotenants including Starbucks, Little Caesar’s Pizza, Snap Fitness and a liquor store. For more information regarding Renaissance Center, contact Paul Gardner or Michael Hoffman, Marcus & Millichap Real Estate Investment Services, 777 Post Oak Boulevard, Suite 900, Houston, TX 77056; 713-626-3040, Fax 713-626-1304. For more information regarding Country Square Shopping Center, contact Marcus & Millichap, 1628 JFK Boulevard, Suite 1200, Philadelphia, PA 19103; 215-531-7000, Fax 215-531-7010. Camelback Cos. is selling a 15-year coffee franchise land lease in Phoenix, AZ for $653,000 at a Cap rate of 8%. The tenant pays annual rent of $52,000 NNN with 3% annual rent increases. Rent commencement is May 2008. For more information, contact Timothy Amrhein, Camelback Cos., Anchor Centre One, 2201 East Camelback Road, Suite 108-A, Phoenix, AZ 85016; 602-954-5100. Calkain Realty Advisors is selling a portfolio of five Dunkin’ Donuts NNN sites in the Sarasota, FL market for $10.5 million. The sites can be bought separately at Cap rates of 6.7% or as a portfolio at a Cap rate of 7.4%. The net operating income is $772,400. For more information, contact Tom Geller, Calkain Realty
Advisors, 1408 North West Shore Boulevard, Suite 616, Tampa, FL 33607;
813-282-6000, Fax 813-282-6098; Bob Bassel Realties, Inc. is acquiring net leased retail, office, industrial and commercial sites throughout North America with leases ranging from 10 to 15 years. For more information, contact Bob Bassel, Bob Bassel Realties, Inc., 1312 St. Catherine Street West, Suite 318, Montreal, Quebec, Canada H3G 1P6; Email: info@bobbasssel.com. RAS Brokerage is selling a 7,210 sq.ft. T.G.I. Friday’s restaurant situated on 1.03 acres at the intersection of Braddock Avenue and MacArthur Boulevard in Somers Point, NJ for $1.6 million. For more information, contact Marc Mandel, RAS Brokerage, 633 West Germantown Pike, Suite 203, Plymouth Meeting, PA 19462; 215-322-8070, Fax 315-322-8460; Email: mmandel@rasbrokerage.com; Web site: www.rasbrokerage.com. Recckio Real Estate & Development, Inc. is selling a 1.73-acre site located near a proposed Wal*Mart Supercenter in Angola, NY. For more information, contact Linette Pacyon, Recckio Real
Estate & Development, Inc.; 716-631-5555 Ext. 11; Email: Evergreen Commercial Real Estate is selling a 3,600 sq.ft. strip center in West Milford, NJ. For more information, contact Douglas Balduini, Evergreen Commercial Real Estate; 973-332-0518, Fax 973-470-9821; Email: dougb@evergreencommercial.com; Web site: www.evergreencommercial.com. Winick Realty Group, LLC is selling a site located at the intersection of Coney Island Avenue and Gerald Court in Brooklyn, NY. Area retail includes Carvel, 7-Eleven, Enterprise Rent-A-Car, Commerce Bank and Chase Bank. For more information, contact Frank R. Terzulli or Diana
Boutross, Winick Realty Group, LLC, 655 Third Avenue, 8th Floor, New
York, NY 10017; 212-792-2612/2608, Fax 212-792-2660; Emails: Hunt Commercial Real Estate is looking to acquire neighborhood strip centers in the Buffalo/Niagara Falls, NY market with GLAs of 5,000 sq.ft. to 50,000 sq.ft. For more information, contact David Doerr, Hunt Commercial Real Estate, 403 Main Street, Suite 105, Buffalo, NY 14203; 716-880-1903, Fax 716-854-7425; Email: ddoerr@huntcommercial.com; Web site: www.huntcommercial.com. George Tsunis Real Estate, Inc. is selling a
63,000 sq.ft. shopping center situated on 6.8 acres in Selden, NY for $11.3
million. The site features an 8,000 sq.ft. office component and a 52,000 sq.ft.
unoccupied big box supermarket. The average daily traffic count is 54,000
vehicles. Area demographics include a population of 200,000 within five miles
earning $74,000 as the average household income. The company is also selling 18
acres of land in Coram, NY for $9.85 million. The property includes 35,000
sq.ft. that can be modified into two buildings totaling For more information, contact Ben Levy, George Tsunis Real Estate, Inc., 1174 Veterans Memorial Highway, Hauppauge, NY 11788; 631-851-1000 Ext. 108, Fax 631-851-1677. Park Avenue Commercial is selling Lyncourt Plaza, a 12,000 sq.ft. center located on Erie Boulevard in Syracuse, NY. The site is 84% occupied and can be expanded by an 11,500 sq.ft. outparcel. The site includes a NNN leased Pearle Vision outparcel. For more information, contact Howard D. Kravetz, Park Avenue Commercial, 649 Park Avenue, Rochester, NY 14607; 585-329-4600 Ext. 142, Fax 585-473-3186; Email: howard@kravetzrealestate.com; Web site: www.kravetzrealestate.com. The Lundy Group, Inc. represents a client looking to acquire retail or office sites throughout NC priced between $500,000 and $800,000 with Cap rates of at least 7%. Current leases must have at least three years remaining. For more information, contact Karen Senchak, The Lundy Group, Inc., PO Box 33279; 919-821-7890, Fax 919-821-2070; Web site: www.lundygroup.com. Pyramid Brokerage Co., Inc. is selling a one-acre corner lot on Arsenal Street in Watertown City, NY that features a shopping center. The asking price is $1.9 million. For more information, contact Karen Carson, Pyramid Brokerage Co., Inc., 230 Franklin Street, Watertown, NY 13601; 315-955-1661. Re/Max Commercial represents a client looking to acquire retail sites throughout eastern MA, north of Boston, priced between $1 million to $2.5 million with Cap rates of at least 6.5%. The company prefers fully leased properties. For more information, contact Paul Whitney, Re/Max
Commercial; 781-572-1184; GMH Capital Partners is selling Palmer Super Center, a 100,696 sq.ft. neighborhood shopping center located on Nicholas Street in Easton, PA. The center 100% leased and anchored by Redner’s Warehouse Market. The net operating income is $970,000. For more information, contact Bill Tourtellotte or Shawn
Lubic, GMH Capital Partners, 10 Campus Boulevard, Newtown Square, PA 19073;
610-355-8097/8172, Fax 610-355-8397/8472; CB Richard Ellis Capital Markets represented the seller, Crosspoint Associates, Inc., in the $25.5 million sale of Hooksett Village Shops to WP Realty. The 250,638 sq.ft. center sits on a land area of 30.64 acres on Daniel Webster Highway/Route 3 in Hooksett, NH. Anchors include Shaw’s Supermarket and Wal*Mart, with cotenants including Jo-Ann Fabrics, U.S. Postal Service and Subway. For more information, contact Bill Moylan, Chris Angelone or
Leslie Faraci, CB Richard Ellis Capital Markets, 111 Huntington Avenue, 12th
Floor, Boston, MA 02199; 617-867-2388/2381/ Equity Retail Brokers closed the sale of a 56,000 sq.ft. supermarket located on York Road in Warminster, PA. Waterloo Gardens acquired the site from Pathmark Stores, Inc., represented by Equity Retail Brokers. The buyer is developing a garden and outdoor furniture center on the nine-acre site, with an opening slated for this month. For more information, contact Ellen Warren, Equity Retail
Brokers, 101 West Elm Street, Suite 370, Conshohocken, PA 19428; 215-886-1666,
Fax 610-645-5454; Realty USA, Inc. is looking to acquire grocery-anchored shopping centers throughout AZ, CA, CO, FL, GA, IL, KS, NM, NV, OR, TX and WA priced between $5 million and $50 million. For more information, contact Mayda Tress, Realty USA, Inc.;
561-339-1441, Fax 866-544-7163; SelectGroup – Alliance Realty is selling a 36,935 sq.ft. shopping center located in Windsor, Ontario, Canada for $4.45 million at a Cap rate of 7.5%. For more information, contact Jerry Haddad, Select Group –
Alliance Realty; 416-356-5870, Fax 866-874-3791; National Retail Properties is selling a Majestic Fine
Wines & Spirits store in Fort Worth, TX for $3.695 million at a Cap rate of
7.6%. Area retail includes Best Buy, Costco, Home Depot, Lowe’s Home
Improvement, Target, Bed Bath & Beyond, Wal*Mart and Kohl’s. The average daily
traffic count is 80,000 vehicles. The tenant’s lease is subject to 10% rent
increase every five years and has a corporate guarantee. Area demographics
include a population of 87,757 within For more information, contact National Retail Properties; 877-NNN-1031; Web site: www.nnn1031.com. Chateau Realty Group is selling a former Shell gas
station/convenience store that also includes a Subway located on The Boulevard
in Rayne, LA for $650,000. The property sits on a land area of 0.427 acres and
is For more information, contact Kevin Dalcourt, Chateau Realty Group, 2700 Moss Street, Lafayette, LA 70501; 800-384-9527, Fax 337-291-1767; Email: kmid1@worldnet.att.net. Watson Commercial Real Estate, Inc. is selling a
1.49-acre site in Palm Bay-Brevard County, FL for $1.6 million. The site is
located in front of Publix and near a shopping center. The company is also
selling a 6,200 sq.ft. former Tony Romas Restaurant site located in front of Wal*Mart
Supercenter in Merritt Island, FL. The asking price is $2 million. Area retail
includes Merritt Square For more information, contact Janet McCluskey, Watson Commercial Real Estate, Inc.; 321-459-0000 Ext. 17; Email: jmccluskey@duanewatson.com. Net Leased Investment Co. is selling a 5,226 sq.ft. Dunkin’ Donuts/Movie Gallery freestanding building situated on land area of 1.24 acres on East Burleigh Boulevard in Tavares, FL for $1.625 million at a Cap rate of 7.2%. The average daily traffic count is 36,500 vehicles. The site has a net operating income of $117,000. Movie Gallery operates under a five-year lease that is slated to expire next December and has three, three-year options. Dunkin’ Donuts operates under a 10-year lease with six years remaining and two, five-year options. For more information, contact Bill Ellison, Net Leased
Investment Co., 120 Alexandria Boulevard, Suite 18, Oviedo, FL 32765;
407-977-2448, Fax 407-977-0775; Email: The Lennox/Massell Cos. is selling a Rite Aid drugstore in Findlay, OH for $5.737 million. The tenant has a 20-year NNN lease that includes rent increases in the 11th year, as well as renewal options. For more information, contact Wade Lennox, The Lennox/Massel Cos., One Oak Plaza, Suite 205, Asheville, NC 28801; 828-281-3378, Fax 828-281-3380; Email: lmlistings@bellsouth.net. Sperry Van Ness sold Rancho Ortega Plaza, a 23,122 sq.ft. mixed-use center situated on a land area of 2.18 acres on Ortega Highway in San Juan Capistrano, CA. The company represented the seller, HLB Properties, LLC, while Rancon Real Estate represented the buyer in the 1031 exchange. The center is 100% leased with tenants including Starbucks, Bank of America and Tannins Restaurant. For more information, contact Brian Sperry, Sperry Van Ness; 949-250-4100; Email: brian.sperry@svn.com. LMS Commercial Real Estate is selling a 2.7-acre restaurant and bank pad site located at the intersection of Route 11 and Route 15 in Selinsgrove, PA. The average daily traffic count is 40,000 vehicles. Area demographics include a population of 30,962 within five miles earning $40,247 as the average household income. For more information, contact David Nicholson, LMS Commercial Real Estate, 120 North Pointe Boulevard, Suite 301, Lancaster, PA 17601; 717-569-9373 Ext. 607; Email: dnicholson@lms-pma.com. Paradise Development Group, Inc. is selling a 14,880 sq.ft. strip center located in Clearwater, FL for $5 million at a Cap rate of 6.65%. Tenants include WaMu, FedEx Kinko’s and AT&T Wireless. The site is adjacent to a Publix-anchored shopping center. The company is also selling a Walgreens site located at the intersection of SSR 96 and Lake Joy Road in Warner Robins, GA for $5.16 million at a Cap rate of 6.2%. The tenant operates under a 25-year lease with 50 years of options. The net operating income is $320,000. In addition, the company is selling a Walgreens site in Homestead, FL for $7.63 million at a Cap rate of 6.15%. The net operating income is $469,190. Paradise Development is also selling a Walgreens location in Oakmont, PA for $7.115 million at a Cap rate of 6.25%. The net operating income is $444,688. For more information, contact Chris Bowers, Paradise Development Group, Inc., 2901 Rigsby Lane, Safety Harbor, FL 34695; 727-726-1115, Fax 727-726-2337; Email: cbowers@paradisedev.com. TREC Acquisitions is looking to acquire retail, office and multi-family properties throughout CO priced between $10 million and $60 million. For more information, contact Brian D. DiSalvo, TREC Acquisitions, 2801 North Tenaya Way, Las Vegas, NV 89128; 702-851-9008 Ext. 183, Fax 212-602-0101; Emails: bdisalvo@trecbuys.com. Berkeley Capital Advisors is selling its fee simple interest in Idlewild Crossing, a 51,137 sq.ft. shopping center located in Charlotte, NC, for $4.25 million. The center is 98% leased. For more information, contact Alex Quarrier, Berkeley Capital
Advisors, 831 East Morehead Street, Suite 650, Charlotte, NC 28202;
704-714-2365; Email: Sperry Van Ness/Sentinel Realty Advisors, Inc. is selling Second Street Plaza, a neighborhood shopping center located at the intersection of Second Street and Elevator Road in Roscoe, IL, for $3.6 million at a Cap rate of 7.99%. The company is also selling an 11.38-acre site on 159th Street in Orland Park, IL for $7.435 million. The average daily traffic count is 25,000 vehicles. For more information, contact Tom Vincent, Sperry Van Ness/Sentinel Realty Advisors, Inc., 1803 Hicks Road, Suite D, Rolling Meadows, IL 60008; 847-963-1031, Fax 847-358-7634. The Mitchell Co., Inc. is selling a 14,400 sq.ft. retail/office site located in Jackson, MS for $400,000 at a Cap rate of 8.86%. For more information, contact Alex Pate, The Mitchell Co.,
Inc., 251-345-1259, Fax 251-345-1286; Email: Eagle Realty of S.W. Florida, Inc. is selling a 7,000 sq.ft. freestanding building situated on 2.1 acres in Fort Myers, FL for $1.195 million. There are an additional six acres available. For more information, contact Dennis Kraus, Eagles Realty of S.W. Florida, Inc., 3818 Del Prado Boulevard, Cape Coral, FL 33904; 239-542-2333, Fax 239-542-5602; Email: dennis@realtorkraus.com. Hoff Realtors is selling a NNN leased sports bar and grill restaurant in the Chicago, IL area in a sale/leaseback transaction. Five years remain on the lease with four, three-year options. The net operating income is $96,000. For more information, contact Ron Stewart, Hoff Realtors; 708-870-2920. Easlan Capital of Atlanta, Inc. is selling a freestanding Goodyear location situated on 1.4 acres on Traders Way in Savannah, GA for $3.435 million at a Cap rate of 6.25%. For more information, contact Stephen Galbraith, Easlan Capital of Atlanta, Inc., 3328 Peachtree Road Northeast, Suite 300, Atlanta, GA 30326; 404-574-5911, Fax 404-442-7999. Epsteen & Associates is representing the owners in the sale of College Park Shopping Center, a 53,546 sq.ft. center located at the intersection of Rose Avenue and Pleasant Valley Road in Oxnard, CA, for $8.5 million. For more information, contact David Morgan, Epsteen & Associates, 5034 Carpinteria Avenue, Carpinteria, CA 93013; 805-684-7767, Fax 805-684-7776. Coldwell Banker Commercial Mountain West Real Estate, LLC is selling Cattle Company Center, a 15,500 sq.ft. center situated on 2.9 acres on Northeast Burnside Road in Gresham, OR, for $2.97 million. For more information, contact Alex Rhoten, Coldwell Banker Commercial Mountain West Real Estate, LLC, 250 Division Street Northeast, Salem, OR 97301; 503-587-4777, Fax 503-587-4778. Boyd Development is selling a 15-acre site located across from The Villages retirement community in Sumter County, FL for $5.5 million or $8.41 psf. For more information, contact Chris Boyd, Boyd Development; 352-804-7627. Commercial Investment Realty Group, Inc. represents a client looking to acquire strip centers or warehouses throughout Palm Beach County, FL in a 1031 exchange of between $1.5 million and $2.5 million. For more information, contact Maureen O’Sullivan, Commercial
Investment Realty Group, Inc., 712 U.S. Highway 1, Suite 300, North Palm Beach,
FL 33408; Metro CRE is selling a bar/restaurant site at the intersection of 31st Street and Wells Street in Bridgeport, IL. Nearby draws include US Cellular Field and Chicago Stockyards. The company is also selling a bank pad site located at the intersection of Archer Avenue and Halsted Street in Bridgeport. The average daily traffic count is 30,000 vehicles. For more information, contact Peter Caruso or Brent Wayburn, Metro CRE, 56 Skokie Valley Road, Highland Park, IL 60035; 847-412-9898; Emails: pcaruso@metrocre.com and bwayburn@metrocre.com. |