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Buyers & Sellers
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Buyers & Sellers Signature Associates is selling Golden Gate Plaza, a 99,575 sq.ft. strip center located at the intersection of East Big Beaver Road and Dequindre Road in Troy, MI. The 98% leased center includes Aldi, CVS, ACO Hardware, The UPS Store, Little Caesar’s and Subway as tenants. Area demographics include a population of 250,000 within a five-mile radius earning an average household income of $75,000. The asking price is $13.5 million with a Cap rate of 8.2%. For more information, contact Bruce Morrison, Signature
Associates, One Towne Square, Suite 1200, Southfield, MI 48076; 248-948-9000;
Email: PM Realty Group, LP is selling Pineridge Crossing, a 168,000 sq.ft. shopping center situated on 26 acres in Rockingham, NC, for $3.8 million. Area retail includes Wal*Mart Supercenter and Lowe’s Home Improvement. For more information, contact Stephannie Mower, Bernard
McAuley, Brandon LaKritz-Weber brokered the acquisition of a 1.15-acre parcel located at the intersection of Belleville Road and Interstate 94 in Van Buren Township, MI. Taco Bell of America, Inc. acquired the property and plans to open a Taco Bell restaurant. For more information, contact Nicole Coschino, LaKritz Weber, 29100 Northwestern Highway, Suite 240, Southfield, MI 48034; 248-353-9494; Email: ncoschino@lakritzweber.com. CB Richard Ellis Private Client Group is selling Rock Creek Plaza, a 148,681 sq.ft. center situated on 13.48 acres along North Interstate 35 in Round Rock, TX. The 100% NNN leased center includes Dollar General, Goodwill, Fuddruckers and Cinemark as tenants. Area demographics include a population of 122,000 within a five-mile radius earning an average household income of $83,641. The average daily traffic count is 93,000 vehicles. For more information, contact Walter Saad or Cathy Nabours,
CB Richard Ellis Private Client Group, 100 Congress Avenue, Suite 500, Austin,
TX 78701; 512-499-4925/4917; Emails: walter.saad@cbre.com and Marcus & Millichap Real Estate Investment Services is selling Walden Park Shopping Center, a 33,637 sq.ft. center located in Austin, TX. The center is shadow-anchored by Super Target. The asking price is $11.89 million. The company is also selling Town South Center, an 18,638 sq.ft. center located in Lufkin, TX. The 100% leased center is shadow-anchored by Wal*Mart and Sam’s Club. The asking price is $4.79 million. The company is also selling Township Square Shopping Center, a 65,767 sq.ft. center located in Missouri City, TX. The asking price is $10.65 million with a Cap rate of 7.44%. The company is also selling West Tower Village, a 47,442 sq.ft. center located in Austin, TX. The asking price is $7.45 million. The company also brokered the sale of the following projects: Plaza on the Parkway, a 59,821 sq.ft. center located in Dallas, TX; Gus Thomasson Retail Strip, a 4,000 sq.ft. strip center located in Dallas, TX; Pioneer Plaza, a 105,061 sq.ft. center located in Arlington, TX; Sugar Land Shopping Center, a 102,937 sq.ft. center located in Sugar Land, TX for $9.6 million and Del Champs Plaza, a 59,015 sq.ft. center located in D’Iberville, TX for $3.92 million. For more information regarding Walden Park Shopping Center,
contact Stephen Maulden or Howard Fuerst, Marcus & Millichap Real Estate
Investment Services, 14185 North Dallas Parkway, Suite 650, Dallas, TX 75254;
972-980-4800. For more information regarding Town South Center, contact James
Bell; 777 Post Oak Boulevard, Suite 900, Houston, TX 77056; 713-626-3040. For
more information regarding Township Square Shopping Center and Sugar Land
Shopping Center, contact Jerry Goldstein; 713-626-3040. For more information
regarding Sterling Knoll Plaza Duscany Financial Group is looking to acquire sites in the Northeast, NC and SC. For more information, contact Steven Lax, Duscany Financial Group, 2286 Nostrand Avenue, Brooklyn, NY 11210; 781-338-7200, Fax 781-338-5282; Email: sl@duscany.com; Web site: www.duscany.com. Morton G. Thalhimer, Inc. sold a 20.27-acre land parcel located at the intersection of Route 33 and Route 29 in Greene County, VA for $7.398 million. The company represented the buyer, Wal-Mart Stores East, LP. Gateway Market Center sold the site. For more information, contact C. Lee Warfield III, Morton G. Thalhimer, Inc., 1313 East Main Street, Suite 400, Richmond, VA 23219; 804-648-3487, Fax 804-697-3479; Email: lee.warfield@thalhimer.com; Web site: www.thalhimer.com. Jones Lang LaSalle is selling Brookside Center, a 160,000 sq.ft. mixed-use development with a 50,000 sq.ft. retail component situated on 28.4 acres located along Tiogue Avenue in Coventry, RI. Area demographics include a population of 77,737 within a five-mile radius earning an average household income of $69,449. For more information, contact James Koury or Nathaniel Heald,
Jones Lang LaSalle, One Post Office Square, Boston, MA 02109; 617-531-4163/4167;
Legend Properties is selling a 32-acre parcel located along Route 70 in Medford, NJ. Area retail includes Wal*Mart, a proposed Home Depot and a proposed Target. The asking price is $2.5 million. The company is also selling a 3.15-acre parcel located along Route 73 in Marlton, NJ. Area retail includes Outback Steakhouse, Carrabba’s Italian Grill and Target. The asking price is $1.999 million. The company is also selling a one-acre parcel located along Mount Ephraim Road in Camden, NJ. Area retail includes McDonald’s, AutoZone, Advance Auto, Blockbuster Video, Checkers, Family Dollar and Pathmark. The asking price is $650,000. For more information, contact Dean Pappas, Legend Properties, 2000 Horizon Way, Suite 280, Mt. Laurel, NJ 08054; 856-231-1010, Fax 856-231-1111; Email: dpappas@lpre.com; Web site: www.lpre.com. The Barchester Corp. is looking to acquire NNN, single-tenant or freestanding sites nationwide that are 100% occupied. For more information, contact John Seravalli, The Barchester Corp., 3234 Riverview Lane, Daytona Beach, FL 32118; 386-788-8831, Fax 386-788-9422; Email: jtjm@bellsouth.net; Web site: www.groundleases.com. Gulfstream Commercial Services, LLC is selling Oxford Center, which is situated on 50 acres at the intersection of Highway 231 and Veterans Memorial Parkway in Bowling Green, KY. The site is located across from Wal*Mart Supercenter. The average daily traffic count is 25,000 vehicles. Nearby draws include Western Kentucky University. The site can be subdivided. The company is also selling Highland Pointe, a 43,560 sq.ft. shopping center situated on 85 acres at the intersection of Highway 54 and Wendell Ford Expressway in Owensboro, KY. Area retail includes Woodlands Plaza. The average daily traffic count is 60,000 vehicles. The company is also selling Woodlands Plaza, a 220,000 sq.ft. shopping center situated on 40 acres on Villa Pointe Drive in Owensboro. Kohl’s anchors the center. The average daily traffic count is 40,000 vehicles. Area retail includes Wal*Mart Supercenter. In addition, Gulfstream Commercial is selling Airport Station, which is situated on 72.5 acres on West Parrish Avenue in Owensboro. The company is also selling a 0.7-acre land parcel with a gas station on Fairview Drive in Owensboro for $249,000. The average daily traffic count is 20,000 vehicles. For more information, contact Brad Anderson or Ted Belcher,
Gulfstream Commercial Services, LLC, 2960 Fairview Drive, Owensboro, KY 42303;
270-685-9007, Fax 270-684-1301; Email: tedb@gulfstreamdev.com; Web site: Coldwell Banker Commercial, on behalf of a client, is looking to acquire NNN, single-tenant locations, freestanding sites or strip centers located throughout the Mountain West, FL and TX for between $2 million and $30 million. For more information, contact Max Walker, Coldwell Banker
Commercial, 1777 South Harrison Street, Suite Penthouse Two, Denver, CO 80210;
303-409-6060, Fax 303-409-6000; Email: Grubb & Ellis|Northco Real Estate Services is selling a 40.36-acre site on Interstate 94 in Maple Grove, MN for $14.075 million. Area demographics include a population of 61,326 within five miles earning $122,543 as the average household income. For more information, contact Frank Jermusek, Noah Larson or Matt Boehlke, Grubb & Ellis|Northco Real Estate Services; 952-820-1615/1687/1616; Emails: fjermusek@northco.com, nlarson@northco.com and mboehlke@northco.com. Paradise Development Group is selling a 14,820 sq.ft. Walgreens store situated on 2.38 acres at the intersection of State Route 96 and Lake Joy Road in Warner Robins, GA. The asking price is $5.16 million at a Cap rate of 6.2%. The tenant operates under a new 25-year lease with 50 years of options. Area demographics include a population of 59,198 within five miles earning $63,190 as the average household income. The company is also selling a 14,820 sq.ft. Walgreens store situated on 1.82 acres at the intersection of Southwest 152nd Avenue and Southwest 312th Street in Homestead, FL. The asking price is $7.63 million at a Cap rate of 6.15%. The tenant operates under a 25-year NNN lease with 10, five-year options. The site is an outparcel to a Publix-anchored shopping center. The net operating income is $469,190. Area demographics include a population of 101,083 within five miles earning $46,418 as the average household income. The company is also selling a 14,820 sq.ft. Walgreens store situated on 1.62 acres at the intersection of Dallas-Acworth Highway and Old Cartersville Road in Dallas, GA. The asking price is $4.5 million at a Cap rate of 6.24%. The net operating income is $281,000. The tenant operates under a 25-year lease with 50 years of options. Area retail includes a population of 53,531 within five miles earning $66,292 as the average household income. For more information, contact Chris Bowers, Paradise Development Group, 2901 Rigsby Lane, Safety Harbor, FL 34695; 727-726-1115, Fax 727-726-2337; Email: cbowers@paradisedev.com. CB Richard Ellis is selling Bell 59 Power Center, a 353,788 sq.ft. power center located at the intersection of 59th Avenue and Bell Road in Glendale, AZ. The center is 99% leased. The NOI is $3.26 million. The company is also selling a 106,492 sq.ft. Value City Department Store location on North Gary Street in Carol Stream, IL. The tenant operates under a lease that has 10 years remaining. The site has a net operating income of $526,235. For more information regarding Bell 59 Power Center, contact Glenn Smigiel, Bob Young, Steven Brabant or Rick Abraham, CB Richard Ellis, 2415 East Camelback Road, First Floor, Phoenix, AZ 85016; 602-735-5604/5576, 818-735-0902 and 602-735-5240, Fax 602-735-5655. For more information regarding the Value City site, contact Jeffrey Thomas, CB Richard Ellis, 1420 5th Avenue, Suite 1700, Seattle, WA 98101; 800-775-3350, Fax 206-260-2829; Email: jeffrey.thomas@cbre.com; Web site: www.cbre.com/jeffreythomas. Grubb & Ellis is selling a 7,504 sq.ft. freestanding Tires Plus location situated on 1.09 acres on Thornton Road in Lithia Springs, GA for $2.712 million at a Cap rate of 6.25%. The tenant operates under a NNN lease slated to expire during May 2022 that has four, five-year options. The average daily traffic count is 40,230 vehicles. Area demographics include a population of 91,986 within five miles earning $56,724 as the average household income. For more information, contact Phillip C. Barry or Hilton Barry, Grubb & Ellis, 3333 Peachtree Road, Third Floor, Atlanta, GA 30326; 770-552-2400, Fax 770-552-2401; Emails: phil.barry@grubb-ellis.com and hilton.barry@grubb-ellis.com. Retail Strategies brokered the $2.925 million sale of a freestanding building located along Mamaroneck Avenue in White Plains, NY. The buyer plans to construct a three-story mixed-use center. For more information, contact Pamela Strauss, Retail Strategies, 245 Main Street, Suite 330, White Plains, NY 10601; 914-921-6100, Fax 914-921-6312; Email: pstrauss@retailstrategiesre.com. Fameco represented the owner, Freedman Cohen, in the sale of Acme Commons, an 85,000 sq.ft. center located on Route 130 in Bordentown, NJ. Pantzer Properties acquired the site, which is anchored by Acme and cotenanted by Wachovia, Starbucks and Sleepy’s, with a 4,000 sq.ft. endcap still available for lease. For more information, contact Fameco Real Estate, 633 West Germantown Pike, Suite 200, Plymouth Meeting, PA 19562; 610-834-8000, Fax 610-834-1793. Pyramid Brokerage Co., Inc. is selling an 11,600 sq.ft. shopping center situated on one acre at the intersection of Arsenal Street and South Massey Street in Watertown, NY for $1.995 million. Great Wall Chinese Restaurant anchors the site. In addition, the company is selling Cardinal Shoppe, which sits on 1.3 acres on Arsenal Street in Watertown, NY, for $275,000. Area retail includes Salmon Run Mall. For more information, contact Karen Carson, Pyramid Brokerage Co., Inc., 230 Franklin Street, Watertown, NY 13601; 315-405-5097, Fax 315-779-1198; Email: kcarson@pyramidbrokerage.com; Web site: www.pyramidbrokerage.com. Baceline Investments, LLC is looking to acquire retail and industrial flex sites as single assets or portfolios throughout Austin, Dallas/Fort Worth and Houston, TX; Chicago, IL; Denver, CO; Indianapolis, IN; Kansas City and St. Louis, MO; Memphis and Nashville, TN; Milwaukee, WI; Minneapolis/St. Paul, MN and Omaha, NE. Single assets should be priced between $5 million and $30 million and portfolios priced up to $100 million. Sites should be Class B or higher multi-tenanted sites with national, regional or local credit tenants. The company will also consider in-fill locations. For more information, contact Doug Arnold or Drew Hyde, Baceline Investments, LLC, 1522 Blake Street, Suite 200, Denver, CO 80202; 800-730-9544 or 303-615-9544, Fax 303-615-5801. Lockard Realty is selling 50 acres of land in Waterloo, IA with 2,000 feet of frontage on U.S. Highway 20. The average daily traffic count is 26,700 vehicles. Area demographics include a population of 107,432 within 10 miles earning $58,676 as the average household income. For more information, contact Lockard Realty, 4501 Prairie Parkway, Cedar Falls, IA 50613; 319-277-8000, Fax 319-277-8080; Web site: www.lockardonline.com. |