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Buyers & Sellers
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Buyers & Sellers Charles Wayne Properties, Inc. is selling a 16,849 sq.ft. freestanding building situated on 1.54 acres at the intersection of John Young Parkway and Conroy Road in Orlando, FL. The building is currently tenanted by Walgreens with approximately 13 years remaining on the original lease term along with six, five-year options. The site features an NOI of $220,880. The asking price is $3.155 million with a Cap rate of 7%. The average daily traffic count is 31,427 vehicles. The company is also selling a 2.58-acre parcel located at the intersection of Dunlawaton Avenue and Oak Street in Port Orange, FL approved for a bank. The asking price is $1.75 million. Area retail includes Home Depot, Target, Lowe’s Home Improvement and Panera Bread. The average daily traffic count is 28,500 vehicles. The company is also selling a 2.85-acre parcel, with one acre usable, located at the intersection of Seminola Boulevard and Winter Park Drive in Orlando, FL. Area demographics include a population of 212,763 within a five-mile radius earning an average household income of $69,593. The average daily traffic count is 26,229 vehicles. The company is also selling a freestanding 2,940 sq.ft. building situated on 1.02 acres at the intersection of North Beltline Road and West Royal Lane in Irving, TX. The building is currently tenanted by a 7-Eleven with gasoline facilities. Approximately eight years remain on the original lease term. The lease features three, five-year options with increases each five years. The average daily traffic count is 37,400 vehicles. For more information, contact Charles Wayne Properties, Inc.,
2300 Maitland Center Parkway, Suite 306, Maitland, FL 32751; 407-660-1500, Fax
407-660-2053; Web site: Silver Malabar, LLC is selling a 20-acre parcel located along Malabar Road Southwest in Palm Bay, FL. The average daily traffic count is 24,980 vehicles. The asking price is $4 million. Financing is possible in the form of a purchase money mortgage for two years at 8% interest. For more information, contact Walter Hollander, Steve Malabar, LLC; 954-963-7500. PM Realty Group is selling Raleigh Springs, a 113,978 sq.ft. center located at the intersection of Austin Peay Highway and Yale Road in Memphis, TN. The center is tenanted by Save-A-Lot and A.J. Wright. The center is 73% leased. Area demographics include a population of 158,624 within a five-mile radius earning an average household income of $49,201. The company is also selling Market at Summer Oaks, an 86,695 sq.ft. center located at the intersection of Summer Avenue and Novarese Road in Memphis, TN. The center is anchored by Aldi and Surplus Warehouse. Cotenants include Advance Auto and Subway. Area retail includes Hamilton’s Fireplace Shop, Backyard Burgers and Lowe’s Home Improvement. Area demographics include a population of 224,190 within a five-mile radius earning an average household income of $57,644. The company is also selling New Market Madison, a 169,343 sq.ft. center located in Madison, NC. The center is anchored by Big Kmart, Aaron’s Rents, AT&T Wireless and Shoe Show. A 60,000 sq.ft. space is available for lease. The center features an NOI of $855,432. The company is also selling Highland Commons, a 39,818 sq.ft. center located in Austin, TX. The center is tenanted by Spec’s and Eyemart. The center features an NOI of $499,738. The company is also selling Eastland Plaza, a 36,534 sq.ft. center located in Eastland, TX. The center is tenanted by Bealls, Sears, The Shoe Dept., Check ‘n Go and O’Reilly Auto Parts. The 100% leased center has an asking price of $3.4 million. For more information, contact PM Realty Group; 972-680-0106; Email: investment.services@pmrg.com. Coldwell Banker Commercial Sun Land Realty of Florida,
Inc. is selling a 26-acre parcel located at the intersection of Malabar Road
and Babcock Street in Palm Bay, For more information, contact Michael Dreyer, Coldwell Banker Commercial Sun Land Realty of Florida, Inc., 3150 North Wickham Road, Suite 1, Melbourne, FL 32935; 321-751-0700, Fax 321-751-9009; Email: dreyer@sunlandrealty.com; Web site: www.commercialsunlandrealty.com. Grubb & Ellis|Northco Real Estate Services is selling a 10,000 sq.ft. center situated on 0.44 acres along Lyndale Avenue South in Minneapolis, MN. The fully leased center is tenanted by Americans Health, 3 Crowns, Hyjeck, Face to Face, Computer Medix, Rejuvination and ECDI. The average daily traffic count is 20,400 vehicles. The NOI is $158,192. The asking price is $1.95 million with a Cap rate of 8.112%. For more information, contact Noah Larson or Gene Tierney,
Grubb & Ellis|Northco Real Estate Services, 5353 Wayzata Boulevard, Suite 650,
Minneapolis, MN 55416; 952-820-1687/1662, Fax 952-820-1620; Emails: nlarson@northco.com
and Grubb & Ellis is selling a 28,320 sq.ft. former Cost Plus World Market situated on 53,405 sq.ft. located along New York Street in Aurora, IL. The asking price is $4.5 million. The company is also selling a 10,478 sq.ft. building situated on 25,830 sq.ft. at the intersection of 97th Street and Western Avenue in Chicago, IL. Area retail includes The Plaza. The asking price is $2 million. The company is also selling an 800 sq.ft. building situated on 0.46 acres at the intersection of Madison Street and Harlem Avenue in Forest Park, IL. The site is approved for a mixed-use development. The asking price is $2.5 million. For more information regarding the Aurora property, contact
Marcellus Moore, Kevin Marschall or Ted Parris, Grubb & Ellis, 225 West Wacker
Drive, Suite 2300, Chicago, IL 60606; 312-224-3120/3173/3113; Emails:
marcellus.moore@grubb-ellis.com, Southern Management & Development, LP is selling Oaks Mall Plaza, a 105,252 sq.ft. center situated on 7.4 acres along West Newberry Road in Gainesville, FL directly adjacent to The Oaks Mall. The center is anchored by Toys "R" Us and tenanted by Starbucks and Trademark Cinema. The 100% leased center features an NOI of $1.354 million. The asking price is $19.5 million. For more information, contact Southern Management & Development, LP, 925 South Federal Highway, Suite 425, Boca Raton, FL 33432; 561-948-7110, Fax 561-948-7120; Email: info@smdproperty.com. |