Buyers & Sellers
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Buyers & Sellers


CB Richard Ellis is selling a 2,686 sq.ft. former bank site situated on a land area of 6.27 acres on U.S. Highway 41 in Schererville, IN for $1.75 million. Area demographics include a population of 129,387 within five miles earning $65,072 as the median household income. The average daily traffic count is 29,770 vehicles. Area retail includes Borders, OfficeMax, Petco, Meijer, Jewel/Osco, Kohl’s, Marshalls, MC Sports, Target Greatland, Lowe’s Home Improvement, Circuit City, Jo-Ann, Wal*Mart, Fashion Bug, Walgreens, Hancock Fabrics, Aldi, Menards, Home Depot, Linens ‘N Things, T.J. Maxx, Old Navy and Office Depot. The company is also selling a 1,900 sq.ft. former bank location situated on a land area of 75,819 sq.ft. on Dixie Highway in Crete, IL. Area demographics include a population 110,294 within five miles earning $50,087 as the median household income. The average daily traffic count is 14,800 vehicles. In addition, the company is selling outparcels to a 12,600 sq.ft. strip center located at the intersection of Gary Avenue and Lake Street in Hanover Park, IL. The outlots total 1.6 acres, 1.7 acres, two acres and three acres. The average daily traffic count is 50,900 vehicles. Area retail includes Wendy’s, Denny’s, McDonald’s, Pizza Hut, Subway, Burger King, Meijer, Circuit City, Big Kmart, Costco, Toys "R" Us, Best Buy, Wal*Mart, The Sports Authority, SuperTarget and Office Depot. Area demographics include a population of 290,435 within five miles earning $74,037 as the median household income. CB Richard Ellis is also selling a 536 sq.ft. former Mobil gas station located at the intersection of Plainfield Road and Larkin Avenue in Crest Hill, IL. The building sits on a land area of 26,441 sq.ft. and has an average daily traffic count of 40,500 vehicles. Area demographics include a population of 206,987 within five miles earning $54,274 as the median household income. The company is also selling 2.84 acres on South LaGrange Road in Frankfort, IL for $16 psf. Area demographics include a population of 89,830 within five miles earning $87,241 as the median household income. The average daily traffic count is 32,900 vehicles. Area retail includes Home Depot, Dominick’s and Buffalo Wild Wings. The company is also selling a 40,045 sq.ft. site located at the intersection of 162nd Street and South Park Avenue in South Holland, IL for $1.2 million. Area retail includes Walgreens and Jewel/Osco. Area demographics include a population of 261,476 within five miles earning $46,010 as the median household income. The average daily traffic count is 46,500 vehicles. In addition, the company is selling a 5.33-acre site on Roosevelt Road in Chicago, IL. A 49,768 sq.ft. building is on the site, which is part of the Lawndale Shopping Center. Area demographics include a population of 1.201 million within five miles earning $43,700 as the median household income. The average daily traffic count is 20,300 vehicles. Area retail includes Target, OfficeMax, Home Depot, Jewel/Osco, Staples, Menards, Food 4 Less, Old Navy, Wal*Mart and Marshalls.

For more information, contact Lynne Brackett or Carole Borg, CB Richard Ellis, 700 Commerce Drive, Suite 550, Oak Brook, IL 60523; 630-573-7035/7115, Fax 630-573-7018;
Emails: lynne.brackett@cbre.com and
carole.borg@cbre.com; Web sites:
www.cbre.com/lynne.brackett and
www.cbre.com/carole.borg. For more information regarding the Mobil station
and the site in South Holland, contact
Lynne Brackett.

Charles Rutenberg Realty is selling a parcel zoned for retail and located on Route 441/Orange Blossom Trail in Orlando, FL for $249,900.

For more information, contact
Mario Augusto Blanca, Charles Rutenberg Realty; 407-460-0443; Email:
bestorlandohomes@aol.com.

Signature Associates is selling a 6,000 sq.ft. site on Saginaw Street in Pontiac, MI. The company is representing the owner. The company is also selling a 7,073 sq.ft. site on Walnut Street in Mt. Clemens, MI, representing the landlord. In addition, the company sold seven gas stations totaling 15,098 sq.ft. in the Detroit, MI metropolitan area. The sites include: a 1,330 sq.ft. site on North Wayne Road in Westland sold to Armada Oil Co.; a 4,175 sq.ft. station on Michigan Avenue in Inkster sold to Inkster Holdings, LLC; a 1,500 sq.ft. site on Middlebelt Road in Garden City and a 1,957 sq.ft. station on Schoolcraft Road in Detroit sold to Empire Holding Investment. Other stations include a 2,171 sq.ft. site on Jefferson Avenue in Ecorse, a 2,400 sq.ft. site on Schoolcraft Road in Detroit and a 1,485 sq.ft. station on East Davison Highway in Detroit, all acquired by Van Buren Oil, LLC. Finding Law Firm sold the sites and was represented by Signature Associates.

For more information, contact Viktor Gjonaj, Signature Associates, One Towne Square, Suite 1200, Southfield, MI 48076; 248-359-3836;
Email: vgjonaj@signatureassociates.com.

For additional information regarding the site in Mt. Clemens, contact Bruce Morrison or Steve Gordon; 248-799-3161 or 248-948-0101;
Emails: bmorrison@signatureassociates.com and sgordon@signatureassociates.com.

For additional information regarding the gas station sites, contact Louis Ciotti or Justin Gaffrey; 248-359-0608 or 248-799-3143;
Emails: lciotti@signatureassociates.com or jgaffrey@signatureassociates.com. Or Steve Gordon.

Thalhimer is selling Parham One Shopping Center, an 83,000 sq.ft. shopping center located at the intersection of Parham Road and Brook Road in Henrico County, VA, for $6.225 million. Tenants include Big Lots, Wachovia, Mattress Warehouse and Family Dollar. The company also sold a 20.97-acre parcel located at the intersection of Hull Street Road and Winterpock Road in Chesterfield County, VA for $11.43 million. Wal*Mart Stores East, LP acquired the site from EDCO, LLC and plans to construct a supercenter within the Hancock Village Shopping Center.

For more information regarding Parham One Shopping Center, contact Connie Jordan Nielsen, Thalhimer, 1313 East Main Street, Suite 400, Richmond, VA 23219; 804-697-3569, Fax 804-697-3479. For more information regarding the site in Chesterfield County, contact C. Lee Warfield, III; 804-697-3487;
Web site: www.thalhimer.com.

Divaris Real Estate, Inc. brokered the sale of a 23.98-acre parcel located at Edinburgh Commons Shopping Center in Chesapeake, VA at the intersection of Route 168 Bypass and Hillcrest Parkway. Mag II Edinburgh Commons, LLC sold the site to Wal*Mart Stores, Inc., which plans to develop a Wal*Mart Supercenter. Divaris represented the buyer and seller. The center is anchored by Target and Home Depot.

For more information, contact Gerald S. Divaris, Divaris Real Estate; 757-497-2113.

Stan Johnson Co. is selling a 4,000 sq.ft. BB&T site situated on one acre on Bardstown Road in Louisville, KY for $2.64 million. The tenant operates under a 20-year absolute net lease that has four, five-year options and 10% rent increases every five years. Area retail includes Wal*Mart Supercenter, Burlington Coat Factory, Target, Lowe’s Home Improvement, Chase Bank and Taco Bell. Area demographics include a population of 257,974 within 10 miles earning $52,599 as the average household income.

For more information, contact Tim Schenk, Stan Johnson Co.; 918-494-2690;
Email: tschenk@stanjohnsonco.com.

The Prakas Group, Inc. brokered the $350,000 sale of a 3,700 sq.ft. restaurant site formerly tenanted by Dubliner Irish Pub and located on PGA Boulevard in Palm Beach Gardens, FL. Bice Ristorante Group acquired the site, with The Prakas Group representing the buyer and seller. The buyer plans to open a Bice upscale Italian restaurant on the site during February 2008. The company also brokered the sale of a 2,000 sq.ft. Café Med restaurant located on Clematis Street in West Palm Beach, FL. Hatfield’s Mediterranean and Middle Eastern Food, Inc. sold the site to A Carlisle, LLC, with both parties represented by The Prakas Group.

For more information, contact The Prakas Group, Inc., 705 East Palmetto Park Road, Boca Raton, FL 33432; 561-368-0003;
Web site: www.prakasgroup.com.

Paragon Realty Group, LLC acquired a 58,193 sq.ft. property situated on a land area of 2.84 acres on Westport Avenue/Post Road in Norwalk, CT. Ski Market and the Fitness and Tennis Club occupy 47,530 sq.ft. and 10,663 sq.ft. is devoted to office space.

For more information, contact Daniel P. Weinreb, Paragon Realty Group, LLC; 203-221-7077 Ext. 119;
Email: dweinreb@paragonct.com.

Marcus & Millichap Real Estate Investment Services is selling Orleans Square, a 72,380 sq.ft. shopping center located in Atascocita, TX. The company is representing the seller, Marcel, Inc. The center is situated on 8.08 acres at the intersection of West Lake Houston Parkway and Will Clayton Parkway. Orleans Square is the first phase of a two-phase project, the second phase of which is slated for construction next year. The company is also selling Factory Stores at Batesville, a 138,264 sq.ft. regional shopping center and outlet mall in Batesville, MS, for $11 million. The company is representing the seller, O’Daley Enterprises. The center sits on a land area of 14.3 acres at the intersection of Interstate 55 and Highway 6. Tenants include Bass, Holliday’s Fashion, O’Daley’s Grill & Ale, Rack Room Shoes, The Dress Barn, La Bella Boutique, Haggar, Claire’s, Paper Factory, Sunglass Hut, rue21, Springmaid/Wamsutta, Van Heusen, VF Factory Stores and Vitamin World.

For more information, contact Marcus & Millichap Real Estate Investment Services, 2999 Oak Road, Suite 210, Walnut Creek, CA 94597; 925-953-1716, Fax 925-953-1710;
Web site: www.marcusmillichap.com.