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Buyers & Sellers
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Buyers & Sellers Marcus & Millichap Real Estate Investment Services Co. completed the $2 million sale of a shopping center on Allentown Pike in Blandon, PA. The company represented the buyer and seller. The company is also selling Brookmound Plaza, a 56,494 sq.ft. shopping center situated on 5.88 acres on West Bluemound Road in Brookfield, WI, for $10.4 million. The company is representing the seller. Tenants include Potbelly Sandwich Works, Taste of India, J.C. Licht Company, Monsoon Wok & Lounge, Signs Now and The Children’s Center. Area retail includes Brookfield Square Mall, a one million sq.ft. center tenanted by Office Depot, Circuit City, Talbots, Pier 1 Imports, Petco, Toys "R" Us and Bed Bath & Beyond. The company also sold a 13,500 sq.ft. Banana Republic flagship store situated on a land area of 7,623 sq.ft. on North Beverly Drive in Beverly Hills, CA for $30 million. The company represented the seller, Meyer Pacific, and the buyer, Festival Retail Fund, LP. The company is also selling a 14,820 sq.ft. Walgreens location in Trenton, OH for $4.64 million at a Cap rate of 6.25%. The tenant operates under a 25-year NNN lease with 10, five-year options. The site is under construction and is slated to open during January 2008. The company closed the $4.2 million sale of The Shops of Orland Park, a 15,879 sq.ft. strip center located on West 143rd Street in Orland Park, IL. The center sold with a Cap rate of 7.7%. Tenants include Blockbuster Video, Hair Cuttery, Palermos and Sprint. The company represented the seller. In addition, the company is selling Creekside Centre, a 26,233 sq.ft. shopping center located on Nicole Lane in Temecula, CA, for $12.4 million. The company represented the seller. Anchors include Panera Bread and Ruby Tuesday. For more information regarding the site in Blandon, contact Spencer Yablon, Marcus & Millichap Real Estate Investment Services Co.; 215-557-0900. For more information regarding the Walgreens location, contact Lisa Sickinger, Marcus & Millichap, 201 East Fifth Street, Suite 2050, Cincinnati, OH 45202; 937-299-4958, Fax 866-702-2269. For more information regarding The Shops of Orland Park, contact Melissa Glick, Marcus & Millichap; 312-867-1500, Fax 312-867-1510. For more information regarding Creekside Centre, contact scorso@marcusmillichap.com. The Lennox/Massell Cos. is selling a Rite Aid NNN site for $5.737 million in Findlay, OH. The tenant operates under a 20-year lease. For more information, contact Wade Lennox, Lennox/Massell Cos., One Oak Plaza, Suite 205, Asheville, NC 28801; 828-281-3378, Fax 828-281-3380; Email: lmlistings@bellsouth.net. Coldwell Banker Commercial NRT is selling a 25,520 sq.ft. site in Rockland County, NY currently leased to an auto repair shop. The site includes a 9,500 sq.ft. building, of which 3,200 sq.ft. is leased. The building also includes a two-level office space. For more information, contact Yshay Manos, Coldwell Banker Commercial NRT, 23 Indian Rock, Suffern, NY 10901; 845-357-8100, Fax 845-357-9568; Email: nyhudsonrealty@gmail.com. Sperry Van Ness is selling properties in NC that range from $2 million to $20 million. The sites consist of retail, office and industrial developments. The company is also selling Placentia Plaza, a 5,400 sq.ft. shopping center situated on 0.39 acres on West Chapman Avenue in Placentia, CA, for $1.335 million. The company represented the seller, Rufino Sim Trust, and Bee Investment, Inc. represented the buyer. The company also completed the $13.85 million sale of a 123,774 sq.ft. shopping center situated on 11.52 acres on East 71st Street in Tulsa, OK. The company represented the seller, Tulsa Retail Center, LLC, while Tom Kallenback Real Estate Investments represented the buyer. Tenants of the center include Linens ‘N Things and Golf Galaxy, as well as a freestanding Circuit City. The site is adjacent to Woodland Hills Mall, a 1.2 million sq.ft. upscale regional center. The company is also selling a 24,000 sq.ft. La-Z-Boy site in Lombard, IL for $5.175 million at a Cap rate of 7.42%. The average daily traffic count is 44,500 vehicles. The company is also selling a strip center in Brown Deer, WI for $5.175 million at a Cap rate of 8.02%. Tenants include Family Dollar, Tuesday Morning, Old Country Buffet and Subway. Area retail includes Lowe’s Home Improvement. In addition, the company is selling an automotive center located in Arlington Heights, IL for $2.6 million at a Cap rate of 7.73%. The center is 100% leased and tenanted by Aamco and Meineke. The average daily traffic count is 14,700 vehicles. For more information regarding the NC sites, contact Carol Beekman, Sperry Van Ness; 949-705-5632. For more information regarding Placentia Plaza, contact Randall Bozard, Sperry Van Ness, 19901 West Catawba Avenue, Suite 102, Cornelius, NC 28031; 704-892-5653 Ext. 23, Fax 704-892-7392. For more information regarding the Tulsa property, contact Carol Beekman; 949-705-5632. For more information regarding the Lombard, Brown Deer and Arlington Heights sites, contact Dan Martin, Terry R. Yormark II and Nick Stellato; 847-312-6958, 630-247-3181 or 847-767-2403. SCI Real Estate Investments, LLC is selling Rockbridge Village, a Kroger-anchored shopping center located at the intersection of Five Forks Trickum and Rockbridge Road in Stone Mountain, GA. The price has a Cap rate of 6.85%. Tenants include H&R Block, Subway, Great Clips, The Loop Pizza Grill and Nationwide Insurance. Area demographics include a population of 163,398 within five miles earning $88,356 as the average household income. The company is also selling parcels at Richmond Ranch Shopping Center, a regional shopping center located at the intersection of Richmond Road and Saint Michael Drive in Texarkana, TX. The price has a Cap rate of 6.98%. Tenants include PetSmart, Starbucks, The UPS Store, Wells Fargo, GameStop, Payless ShoeSource and Sally Beauty Supply. The following anchors are located at the center, but not included in the sale: Target, Home Depot, Kohl’s, Chick-Fil-A, Bank of the Ozarks, Discount Tire Center, Texas Roadhouse and Taco Bell. Area retail includes Best Buy, Bed Bath & Beyond, Chico’s, Cinemark, Goody’s, Kirkland’s, Lane Bryant, Shoe Carnival, Old Navy and T.J. Maxx. Nearby draws will include the new campus of Texas A&M University-Texarkana. The company is also selling River Price Shopping Center, a 154,735 sq.ft center situated on 14 acres on Highway 441 in Sevierville, TN. The price includes a Cap rate of 6.85%. Tenants include Belk, T.J. Maxx, Rack Room Shoes, Dollar Tree, Outback Steakhouse, Blockbuster Video, H&R Block and Nextel. The average daily traffic count is 48,650 vehicles. Nearby draws include Great Smoky Mountains National Park, Dollywood Amusement Park and Factory Outlet Centers. For more information, contact SCI Real Estate Investments,
LLC, 11620 Wilshire Boulevard, Suite 300, Los Angeles, CA 90025; 310-470-2600;
Web site: Charles Wayne Properties, Inc. is selling a net
leased Damons International restaurant in OH for $3.269 million at a Cap rate of
8.75%. The 7,846 sq.ft. restaurant sits on a land area of 2.1 acres. The company
is also selling a 2,950 sq.ft. Wendy’s For more information, contact Sam Nasrallah, Charles Wayne Properties, Inc., 480 Spoonbill Lane, Melbourne, FL 32951; 321-725-0051, Fax 321-725-1075; Email: nnnman@aol.com. CB Richard Ellis sold a retail portfolio on Newbury Street in Boston, MA for $22.5 million. The sites consist of five boutique, mixed-use properties totaling 35,443 sq.ft. with retail, office and residential components. Taurus/Meritage Real Estate acquired the center. The company also sold a portfolio on Morrissey Boulevard in Boston, MA for $34 million. The sites total nine acres and include a 61,800 sq.ft. Shaw’s Supermarket, a two-story office building and 2.13 acres of unimproved land. The company is also selling Springfield Plaza, a 448,466 sq.ft. regional shopping center situated on 66.1 acres on Liberty Street in Springfield, MA. Anchors include Stop & Shop and Big Kmart, with cotenants including Savers, Ocean State Job Lot, A.J. Wright, Dollar Tree, Rocky’s Hardware and AMF Bowling Center. The average daily traffic count is 15,258 vehicles. In addition, CB Richard Ellis is selling two AutoZone properties in AR, a 7,370 sq.ft. store situated on 1.02 acres on East Pleasant Grove in Lowell for $1.886 million at a Cap rate of 7% and a 7,370 sq.ft. store situated on 1.26 acres on West Centerton Boulevard in Centerton for $595,000 at a Cap rate of 6.5%. The Lowell site has 15 years remaining on the lease, which has four, five-year options with 10% increases. Area demographics include a population of 183,081 within 10 miles earning $62,869 as the average household income. The Centerton site has 20 years remaining on its lease, which has four, five-year options with 10% increases. Area demographics include a population of 116,501 within 10 miles earning $64,970 as the average household income. CB Richard Ellis is also selling The Village at Surprise, a 27,205 sq.ft. shopping center located at the intersection of Bell Road and Litchfield Road in Surprise, AZ, for $11.026 million at a Cap rate of 6.5%. The center is 100% leased with tenants including Payless ShoeSource, NYPD Pizza and H&R Block. Kohl’s shadow-anchors the site. The company sold Hollywood Plaza, a shopping center located at the intersection of International Drive and Sand Lake Road in Orlando, FL for $17 million. The company represented the seller, RP Properties. The center is 100% leased with cotenants including Friday’s Front Row Grill, Bargain World and Bola Ristorante. For more information regarding the sites in Boston and
Springfield, contact Bill Moylan, Chris Angelone or Leslie Faraci, Holliday Fenoglio Fowler, LP is selling Ethan
Allen Plaza, a 35,506 sq.ft. shopping center located on Semoran Boulevard in
Altamonte Springs, FL. The center is 100% occupied and anchored by Ethan Allen,
Arthur Murray and First Watch. The For more information regarding Ethan Allen Plaza, contact
Ignacio Portuondo, Holliday Fenoglio Fowler, LP, 2 Alhambra Plaza, Penthouse
II-A, Coral Gables, FL 33134; 305-448-1333, Fax 305-448-9499; Email: iportuondo@hfflp.com.
For more information regarding Inwood Village, contact Jim Batjer, Barry Brown
or Jones Lang LaSalle is selling Brookside Center, a 28-acre project located on Route 3 in Coventry, RI. The 160,000 sq.ft. mixed-use center will include 100 residential units and 50,000 sq.ft. of retail/office space. Citizens Bank occupies a kiosk on the site. Area demographics include a population of 262,904 within 10 miles earning $67,301 as the average household income. The company is also selling Country Hills Towne Center, a 157,408 sq.ft. community shopping center situated on 18.3 acres on Diamond Bar Boulevard in Diamond Bar, CA. H Mart and Rite Aid anchor the center and cotenants include Burger King, KFC, Starbucks, Quiznos, CitiFinancial and HSBC. For more information regarding Brookside Center, contact
James M. Koury or Nathaniel T. Heald, Jones Lang LaSalle, One Post Office
Square, Boston, MA 02109; 617-531-4163/4167; Emails: james.koury@am.jll.com and
nathaniel.heald@am.jll.com; Web site: www.joneslanglasalle.com/boston. For more
information regarding Country Hills Towne Center, contact David B. Doupe,
Lawrence H. Krasner, Julie Ann Davis or Cheri M. Pierce, Jones Lang LaSalle,
2049 Century Park East, Suite 2750, Los Angeles, CA 90067;
310-595-3625/3621/3628/ DLC Management Corp. acquired a portfolio of seven
shopping centers located throughout the Southeast, including: Brookwood Village,
a 28,774 sq.ft. center located at the intersection of Peachtree Road and
Brighton Road in Atlanta, GA that is anchored by For more information, contact Daniel Taub or Guy Morris,
DLC Management Corp.; Emails: dtaub@dlcmgmt.com and Capital Commercial Real Estate Group, Inc. is
selling Fort Lauderdale Plaza, For more information, contact Dael Sidney, Capital Commercial Real Estate Group, Inc., 221 West Hallandale Beach Boulevard, Hallandale, FL 33009; Email: dael@capitalcomgroup.com; Web site: www.capitalcomgroup.com. Royal Properties, Inc. brokered the sale of a 1.1-acre parcel on North State Road in Briarcliff Manor, NY. For more information, contact Royal Properties, Inc. 850
Bronx River Road, Bronxville, NY 10708; 914-237-3403, Fax 914-237-0196; Web
site: Stonemar Properties, LLC acquired two regional shopping centers located on East Highland Road in Jonesboro, AR for $16 million. The centers, Bernard Court and Crossroads Shopping Center, total 155,000 sq.ft. and are fully occupied. Bernard Court is adjacent to Wal*Mart Supercenter and anchored by Hobby Lobby, Goody’s and Shoe Carnival. Crossroads Shopping Center is anchored by OfficeMax, Pier 1 Imports and Mattress King. The sites have an average daily traffic count of 55,000 vehicles. Area retail includes Indian Mall and The Mall at Turtle Creek. Nearby draws include Arkansas State University. For more information, contact Stonemar Properties, LLC, Park South Plaza, 32 Union Square East, Suite 1100, New York, NY 10003; 212-324-8300, Fax 212-324-8306; Web site: www.stonemarproperties.com. Cohen & Co., Inc. brokered the sale of Royal Oaks Shopping Center, an 89,772 sq.ft. shopping center located on Lithia Pinecrest Road in Valrico, FL, for $13.85 million. The center was 97% leased at the time of sale. For more information, contact Michael Cleeman, Cohen & Co., Inc., 9 East 40th Street, 10th Floor, New York, NY 10016; 212-803-5785, Fax 212-679-1533; Email: cleeman@cohenco.com. Real Estate Strategies, Inc. is selling Gateway Center, a 21,971 sq.ft. retail/office strip center located on SR 50 in Clermont, FL, for $5.75 million at a Cap rate of 6.5%. The average daily traffic count is 53,000 vehicles. Tenants include Centra Care, Wells Fargo and Wachovia Mortgage. Area retail includes Publix, Target, Home Depot, Office Depot and Lowe’s Home Improvement. For more information, contact Susan Lawrence, Real Estate Strategies, Inc., 163 East Morse Boulevard, Suite 230, Winter Park, FL 32789; 407-261-0400, Fax 407-358-5000; Email: slawrence@restrategies.net. Goodman Real Estate Services Group, LLC completed the sale of a Donatos Pizzeria site on Euclid Avenue in Willoughby, OH. The company represented the seller, Donatos Pizzeria, LLC, and the buyer, Chick-fil-A, Inc. For more information, contact Goodman Real Estate Services Group, LLC, 25333 Cedar Road, Suite 305, Lyndhurst, OH 44124; 216-381-8200, Fax 216-381-8211; Web site: www.goodmanrealestate.com. NAI Realvest represented the buyer in the $3 million acquisition of SunTrust Maitland Branch, a 16,360 sq.ft. bank situated on 1.2 acres on North Orlando Avenue in Maitland, FL. The company also negotiated the sale of a 0.69-acre parcel located on Columbus Boulevard in Titusville, FL for $303,518. R.W. Kirk Family, LP sold the site to Pavilion Land Co., which plans to build a 6,700 sq.ft. Tire Kingdom sales and service facility on the site adjacent to Target. The company is also selling a 17.58-acre mixed-use site on South Park Avenue in Titusville, FL for $2.95 million. The company is also selling a 1.53-acre parcel on South Park Avenue in Titusville, FL for $950,000. The parcel is adjacent to a residential site. In addition, the company is selling a 1.45-acre site on East Chapman Road in Oviedo, FL for $1.75 million. The average daily traffic count is 48,750 vehicles. For more information, contact Matt Cichocki or Kevin O’Connor, NAI Realvest; 407-875-9989; Emails: mcichocki@realvest.com and koconnor@realvest.com. River Valley Realty is selling 60 acres in Catskill, NY for $4.9 million. The site fronts the New York State Thruway, Route 23 and Route 23B. Area retail includes Lowe’s Home Improvement and Home Depot. For more information, contact Laura Stasinski or Marie Dempsey, River Valley Realty; 518-622-0169, Fax 518-622-0183; Emails: realestatervr@aol.com and marieatrvr@aol.com. GE Capital Solutions is selling a 5,720 sq.ft. Tire Warehouse location on Hammond Street in Bangor, ME for $1.541 million at a Cap rate of 7.2%. The building sits on a land area of 33,106 sq.ft. The tenant operates under a NNN lease slated to expire during 2025. The company is also selling a Tire Warehouse site on Bemis Road in Fitchburg, MA for $821,945 at a Cap rate of 7.3%. The 3,895 sq.ft. building sits on a land area of 20,152 sq.ft. with a NNN lease that is slated to expire during 2025. Area retail includes Taco Bell, McDonald’s, Wendy’s, Pizza Hut, Burger King, Dunkin’ Donuts and Papa John’s Pizza. For more information, contact GE Capital Solutions; 407-540-2222, Fax 407-540-2044; Web site: www.ge1031.com. Lamar Cos. is acquiring shopping centers nationwide with GLAs of at least 100,000 sq.ft. throughout CO, FL, KY, MA MI, NC, NJ, OH, PA and SC and at least 150,000 sq.ft. elsewhere. Centers must have vacancies of at least 15%. Preferred demographics include a population of 30,000 within three miles earning $40,000 as the median household income. For more information, contact Cory D. Boss, Lamar Cos., 365 South Street, Morristown, NJ 07960; 800-526-0762 Ext. 309, Fax 973-285-9236; Email: coryb@lamarco.com. Paradise Development is selling several Walgreens locations, including a 14,490 sq.ft. store located at the intersection of Allegheny Avenue and Hulton Road in Oakmont, PA for $7.115 million at a Cap rate of 6.25%. The site totals 1.26 acres and has a net operating income of $444,688. The tenant operates under a 25-year lease with 10, five-year options. For more information, contact Chris Bowers, Paradise
Development, 2901 Rigsby Lane, Safety Harbor, FL 34695; 727-726-1115, Fax
727-726-2337; Email: cbowers@paradisedev.com; Web site:
Battery Commercial is selling three NNN ground leases at Cimarron Center in Sand Springs, OK that are tenanted by Wal*Mart Supercenter, Eyemart Express and QuikTrip. The asking price is $3.825 million at a Cap rate of 6.8% that will increase to 7.04% next August. Located at the intersection of Highway 412 and Highway 97, the center sits on a land area of 21 acres and has an average daily traffic count of 36,000 vehicles. The company is also selling a ground lease package in Tulsa, OK that includes a 210,000 sq.ft. Wal*Mart Supercenter and two outparcels. The package is priced at $3.825 million at a Cap rate of 6.8% that will increase to 7.04% next year. For more information regarding Cimarron Center, contact
Andrew Barnes, Paul Souza or Eric Wilcox, Battery Commercial, 500 Washington
Street, Suite 475, San Francisco, CA; 415-963-4711; Email: Grubb & Ellis | West Shell Commercial, Inc. is selling Parkwood Plaza, a 141,114 sq.ft. shopping center located on Smiley Avenue in Cincinnati, OH. Wal*Mart Supercenter shadow-anchors the site. Cotenants include Starbucks, Buffalo Wild Wings and Old Time Pottery. For more information, contact Grubb & Ellis | West Shell Commercial, Inc., 425 Walnut Street, Suite 1200, Cincinnati, OH 45202; 513-721-4200, Fax 513-721-0630; Web site: www.westshellcom.com. NAI Capital Commercial is selling a NNN leased Denny’s restaurant in Las Vegas, NV for $1.575 million. There is also a one-acre parcel included in the site for $675,000. Area demographics include a population of 245,614 within three miles. The site is adjacent to Lowe’s Home Improvement Center and WaMu. For more information, contact Laurence Saper, NAI Capital
Commercial; 310-352-9080, Fax 310-327-6259; Email: Capital B Realty, LLC is selling a Family Dollar site in Palestine, TX at a Cap rate of 8.25%. The 9,180 sq.ft. building is currently under construction and sits on a land area of 0.95 acres. The tenant has a 10-year lease with four, five-year options. For more information, contact Nicholas Baskin, Capital B
Realty, LLC; 936-327-4345, Fax 936-327-4321; Email: Strathmore Development completed a sale/leaseback transaction for City Furniture and Ashley Furniture, which will anchor Alico Lakes Village, a 300,000 sq.ft. retail/office project located at the intersection of Interstate 75 and Alico Road in Lee County, FL. The two stores will occupy 115,000 sq.ft. and will join a 172-room Holiday Inn and Conference Center. For more information, contact Terry Benton, Strathmore
Development Co., 1427 West Saginaw, Suite 200, East Lansing, MI 48823;
517-664-4128; Email: GE Capital Solutions is selling a 4,371 sq.ft. Applebee’s location situated on a land area of 48,358 sq.ft. on Harlem Avenue in Tinley Park, IL. The asking price is $2.252 million at a Cap rate of 6.8%. The site is an outparcel to a Kmart-anchored shopping center. Area retail includes Aldi’s, Sam’s Club, Bally’s Total Fitness, Walt’s, Staples, Home Depot, Outback, Chili’s, Famous Dave’s and The Patio. The tenant operates under a lease slated to expire during 2025 with two, five-year options. For more information, contact GE Capital Solutions; 407-540-2222, Fax 407-540-2044; Web site: www.ge1031.com. Michael Salove Co. is selling a 5,424 sq.ft. former Lone Star Steakhouse located on Route 38 in Cherry Hill, NJ. The average daily traffic count is 61,000 vehicles. Area demographics include a population of 278,852 within five miles earning $75,152 as the average household income. Area retail includes Wal*Mart, Office Depot, A.J. Wright, ShopRite, Petco, Ross Dress for Less, Staples, Barnes & Noble, DSW, Ulta, T.G.I. Friday’s, Applebee’s, Target, Kohl’s, PetSmart, Babies "R" Us, Wegmans, Dick’s Sporting Goods, Best Buy, Bed Bath & Beyond, BJ’s Wholesale Club, Acme, Lowe’s Home Improvement and Pier 1 Imports, as well as: Cherry Hill Mall, anchored by Macy’s, JCPenney, a proposed Nordstrom, Old Navy and Crate & Barrel; Moorestown Mall, anchored by Boscov’s, Sears, Lord & Taylor, Macy’s and United Artists, and East Gate Square, anchored by Circuit City, Jos. A. Bank and OfficeMax. For more information, contact Stanton Brown, Michael Salove
Co., 1700 Market Street, 17th Floor, Philadelphia, PA 19103;
215-568-2600 Ext. 12, Fax 215-568-2666; Email: sbrown@salove.com; Web site: LMS Commercial Real Estate is selling six bank disposition sites throughout PA, including: a 2,500 sq.ft. Community Banks location situated on 1.23 acres on Cape Horn Road in Red Lion; a 3,275 sq.ft. Blue Ball National Bank situated on 0.84 acres on Allentown Pike in Temple; a 2,774 sq.ft. Community Banks site on 1.72 acres on White Street in York; a 1,500 sq.ft. Susquehanna Bank location situated on 1.35 acres on North Susquehanna Trail in Shamokin Dam; a 1,500 sq.ft. Community Banks situated on 1.35 acres on Orchard Drive in Shamokin Dam and a 10,828 sq.ft. Susquehanna Bank situated on 0.165 acres on South Main Street in Spring Grove. For more information, contact Donna Deerin Ward, LMS Commercial Real Estate, 120 North Pointe Boulevard, Suite 301, Lancaster, PA 17601; 717-569-9373 Ext. 915, Fax 717-560-9909; Email: ddeerin@lms-pma.com; Web site: www.lms-pma.com. Cram Financial is selling Yorktown Center, a 208,305 sq.ft. community shopping center in Erie, PA, for $23.45 million. The center is 100% leased and has a net operating income of $1.778 million. Giant Eagle anchors the center. For more information, contact Ralph N. Cram, Cram Financial, 225 West
Washington, Suite 2200, Chicago, IL 60606; 312-924-2823, Fax 312-962-1930;
Email: Cushman & Wakefield, Inc. is representing
Woolbright Development with the sale of a portfolio of eight FL anchored
neighborhood and community centers totaling 824,184 sq.ft. Three of the centers
are anchored by Publix and the portfolio also features big For more information, contact Mark Gilbert or Adam Feinstein,
Cushman & Wakefield, 200 South Biscayne Boulevard, Suite 2800, Miami, FL 33131;
305-533-2866/2863, Fax 305-375-0056; Emails: Re/Max Commercial is selling a mixed-use center in Southbridge, MA for $1.24 million. The site includes retail, office and residential components and has a net operating income of $149,398. For more information, contact Paul Whitney, Re/Max Commercial; 781-572-1184; Email: paul@masscommercialproperties.com. JPJ Holdings, LLC is selling a six-acre parcel shadow-anchored by Wal*Mart Supercenter in western TN for $500,000. For more information, contact Myron D. Miller, JPJ Holdings, LLC; 561-801-3348, Fax 904-214-0026. Coldwell Banker Village Communities is looking to acquire power centers and shopping centers located within growing secondary markets nationwide and priced at $18 million and up. The centers should have a high percentage of national credit tenants and strong regional retailers. For more information, contact Bill R. Fritz, Coldwell Banker Village Communities, 2704 South Culberhouse Street, Suite A, Jonesboro, AR 72401; 870-897-2357, Fax 870-935-4581; Email: bizmstr@suddenlink.net; Web site: www.coldwellbankerjonesboro.com. Net-Properties.com is selling a three-store portfolio throughout the Northeast that can be acquired separately. Prices range from $1.77 million to $2.37 million at Cap rates of 7.5%. Leases have nine years remaining with five, five-year options and increases. For more information, contact Carolyn Wheaton, Net-Properties.com,
218 East Main Street, Salisbury, MD 21801; 410-749-8980, Fax 603-754-1600;
Email: Interstate Realty Advisors, Inc. is selling a 1.26-acre site on Barnum Avenue in Stratford, CT for $1.55 million. The site has 200 feet of frontage on Route 1. Area retail includes Walgreens, Burger King, KFC, CVS, AutoZone, Office Depot, Burlington Coat Factory, Marshalls, Home Depot, Shaws and Wal*Mart. For more information, contact Steven J. Spector, Interstate Realty Advisors, Inc.; 203-283-3994, Fax 203-306-3222; Email: sjsrealestate11@aol.com. Universal Realty, Inc. is looking nationwide to acquire a shopping center priced from $4.9 million to $5.3 million with Cap rates of 7.25%. A majority of tenants should include national retailers. For more information, contact Zeke Wimert, Universal Realty, Inc., 1446 Applewood Road, Baton Rouge, LA 70816; 225-769-0275, Fax 225-663-2340; Email: zeke.wimert@cox.net. Arc Properties is looking to acquire single-tenant credit properties priced from $1.5 million to $40 million throughout the New York-Washington, DC corridor, FL, NC and SC, in addition to other major metropolitan areas. Tenants should have leases with terms of at least 10 to 15 years. For more information, contact Claudia Graff or Michael Ambrosi, Arc Properties; 973-249-1000; Emails: cgraff@arcproperties.com and mambrosi@arcproperties.com. NAI West Michigan is selling the first phase of a two-phase shopping center project located in the Grand Rapids, MI area. The center is 100% leased to several national tenants and all tenants operate under NNN leases. The asking price carries a Cap rate of 8% plus $350,000 for additional land to construct phase two of the project. For more information, contact Scott Nurski, NAI West
Michigan, 100 Grandville Avenue Southwest, Suite 100, Grand Rapids, MI 49503;
616-776-0100, Fax 616-776-0101; Email: scott@naiwm.com; Web site: Colliers International Turley Martin Tucker is selling a
5,690 sq.ft. CiCi’s Pizza restaurant situated on 1.47 acres on Springdale Road
in Cincinnati, OH for $1.25 million. The site is adjacent to Kroger at Northgate
Mall. The company is also selling a 75,000 sq.ft. For more information, contact Kevin Turner & Associates Realty, Inc. is For more information, contact Monte Turner, Turner & Associates Realty, Inc., PO Box 150326, Nashville, TN 37215; 615-383-7878, Fax 615-383-9878; Email: turnerandassociates@comcast.net. Grubb & Ellis is selling a 56,502 sq.ft. Whole Foods Market location on Bay Place in Oakland, CA. The tenant operates under a 20-year net lease with four, five-year options and rent increases of 10% every five years. Area demographics include a population within five miles earning $72,584 as the average household income. For more information, contact Edward Suharski, Michael Federle, Nicholas Bicardo or M. Colin Federle, Grubb & Ellis, 255 California Street, 14th Floor, San Francisco, CA 94111; 415-439-5077, 415-433-1050, 415-477-9262 or 415-477-9283, Fax 415-959-5996. Gaia Real Estate Investments is selling an 8,561 sq.ft. Chedder’s location situated on a land area of 110,773 sq.ft. in Fort Worth, TX for $3.742 million at a Cap rate of 6.9%. The tenant operates a 20-year NNN lease with two, five-year options. For more information, contact Erika Carlson, Gaia Real Estate
Investments; 858-488-0591, Fax 866-229-0490; Email: Sperry Van Ness/Sentinel Realty Advisors, Inc. is selling a 163,000 sq.ft. Burlington Coat Factory net leased site at Randall Park Mall in North Randall, OH for $3.1 million. There are 5.5 years remaining on the lease. 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; Email: vincentt@svn.com. Fortune International Realty is selling a 60,000 sq.ft. corner lot on 1st Avenue in Brickell, FL that is adjacent to Merry Brickell Village Shopping Center for $32 million. The site will house a 13,000 sq.ft. retail component, 333,000 sq.ft. of office space and a 166,000 sq.ft. hotel. For more information, contact Fabio F. Faerman, Fortune International Realty; 305-400-6395; Web site: www.fir.com. The Shopping Center Group is selling Gunbarrel Place, a 45,617 sq.ft. shopping center located in Chattanooga, TN, on behalf of Henden Gunbarrel, LLC. Office Depot and Macaroni Grill anchor the center. The company is also selling Mt. Zion Road Plaza, a 12,069 sq.ft. strip center situated on 1.19 acres on Mt. Zion Road in Morrow, GA, for $2.8 million. Tenants include Mattress Firm and American Deli. The site has a net operating income of $253,787 and an average daily traffic count of 26,500 vehicles. Area retail includes Target, Publix, The Sports Authority and hhgregg. Area demographics include a population of 173,664 within five miles earning $57,533 as the average household income. For more information regarding Gunbarrel Place, contact Neal
Pringle, The Shopping Center Group, 3101 Towercreek Parkway, Suite 200, Atlanta,
GA 30339; 770-738-2486; Email: nealp@theshoppingcentergroup.com. For more
information regarding Mt. Zion Road Plaza, contact Mark D. Cooley, J. Tyson
Glasser, Marie Smith, J. Grant Furlong, Kenneth P. Sugden, Jr. or Neal Pringle;
770-955-2434, Fax 770-951-0054; Email: Linsalata Realty Services is selling a 17,377 sq.ft.
center on East Main Street in Gatesville, TX for $900,000. The single-story site
is 100% leased and divided into three For more information, contact Joe Linsalata, Linsalata Realty Services, 824 West 10th Street, Suite 100, Austin, TX 78701-2039; 512-327-5000, Fax 512-327-5078; Email: joe@asklrs.com; Web site: www.asklrs.com. Maxim Commercial Real Estate, LLC is selling a 34-acre retail/office site in Hamilton, OH for $7.5 million. The center is located across from a proposed Meijer and Menards. For more information, contact Charles B. Thomas, Maxim
Commercial Real Estate, 8190-A Beechmont Avenue, Suite 156, Cincinnati, OH
45255; Email: US Metro Realty, LLC is selling a six-acre land parcel on Route 9 in Alpharetta, GA that is approved for a 41,000 sq.ft. shopping center. The asking price is $750,000 per acre. For more information, contact James Kim, US Metro Realty, LLC, 2449 Fairlie Drive, Duluth, GA 30096; 770-771-2568; Email: jamesk@usmetrorealty.net. Net Leased Investment Co. is selling a 7,000 sq.ft. Advance Auto Parts location situated on 1.33 acres at the intersection of Germantown Parkway and Chickering Cove in Cordova, TN. The site is priced at $2 million at a Cap rate of 6.75%. The tenant operates under a 15-year NN lease with three, 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: James Solomon Realty, Inc. is selling a 2.6-acre land parcel for $980,000. The site is currently occupied by a paint and body shop, which will be included in the sale. Area retail includes Babcock Furniture, Popeye’s, Flash Foods, Farmers Furniture, Advance Auto, Lenscrafters, Chuck E. Cheese’s, Salvation Army Thrift Store, Enmark Convenience, Precision Tune, Beds & Bedding and Steak n Shake, as well as Macon Mall. The average daily traffic count is 30,000 vehicles. For more information, contact Fred Matthews, James Solomon Realty, Inc., 4261 Wendy Drive, Macon, GA 31216; 478-960-2142, Fax 478-788-0674. Al Taf Group of Marcus & Millichap is selling a shopping center located in Mount Vernon, OH anchored by JCPenney and Big Kmart for $10.2 million at a Cap rate of 8%. The 207,409 sq.ft. center sits on a land area of 31.17 acres and is cotenanted by Peebles, Hallmark, Hibbett Sporting Goods and GNC. Area retail includes Wal*Mart Supercenter, Staples, Aldi, Lowe’s Home Improvement, Kroger, Tractor Supply Co., Family Dollar, McDonald’s, AutoZone, CVS and Ryan’s. The average daily traffic count is 18,000 vehicles. Area demographics include a population within one mile earning $56,000 as the average household income. The company is also selling a NNN leased Starbucks site in NE for $1.487 million at a Cap rate of 6.4%. The 2,391 sq.ft. coffee shop sits on a land area of 0.62 acres and operates under a 10-year lease with four, five-year options. Area retail includes Wal*Mart, Lowe’s Home Improvement, Home Depot and Shaw’s. Demographics include a trade-area population earning $77,000 as the average household income. The average daily traffic count is 30,000 vehicles. For more information, contact Al Taf Group of Marcus & Millichap; 678-808-2776; Email: ataf@marcusmillichap.com. Berkeley Capital Advisors is selling For more information, contact Alex Quarrier, Berkeley Capital
Advisors, 831 East Morehead Street, Suite 650, Charlotte, NC 28202;
704-714-2365; Email: NovaSource is selling a Jiffy Lube site located on State Street in Orem, UT for $1.4 million at a Cap rate of 7%. The 2,100 sq.ft. building sits on a land area of 22,406 sq.ft. and operates under a 13-year NNN lease with four, five-year options. Area demographics include a population of 186,690 within five miles earning $66,692 as the average household income. For more information, contact Gregg Richardson, NovaSource, 2180 South 1300 East, Suite 410, Salt Lake City, UT 84106; 801-484-3440 Ext. 11, Fax 801-484-3455; Email: grichardson@novasource.net. Mar-West Realty Partners is selling The Sesco Building, a 13,450 sq.ft. center located at the intersection of Fairfax Boulevard and Fairfax Circle in Fairfax, VA. Spaces from 1,000 sq.ft. to 5,000 sq.ft. are available. Area demographics include a population of 273,887 within five miles earning $134,346 as the average household income. Area retail includes Radio Shack, Chipotle, Borders, Office Depot, Petco, Panera Bread, Hooters, Walgreens, T.J. Maxx, Bed Bath & Beyond, Total Wine & More, CVS, Rite Aid, Trader Joe’s, Staples, Ruby Tuesday and Whole Foods. For more information, contact Jim Jiral, Mar-West Realty Partners, 8391 Old Courthouse Road, Vienna, VA 22182; 703-956-0479, Fax 703-893-5142; Email: leasing@marwestrealty.com; Web site: www.marwestrealty.com. Garrison Group, Inc. is selling two former Ned Kellys restaurants located in Peoria and Springfield, IL. The sites are priced at $1.2 million and $850,000, respectively. For more information, contact Roger D. Garrison, Garrison Group, Inc., 1999 Wabash Avenue, Suite 202, Springfield, IL 62704; 217-241-0202, Fax 217-241-4202. Prudential CRES Commercial Real Estate is selling Village
Plaza, a 5,400 sq.ft. strip For more information, contact WIFS Global is selling a 4.34-acre parcel at the intersection of Ethanac Road and Murrieta Road in Sun City, CA for $1.4 million. The site includes a 1,900 sq.ft. building. For more information, contact Tony Williams, WIFS Global, 2500 East Imperial Highway, Suite 201 #382, Brea, CA 92835; 714-213-4112. Michael Realty Co. is selling a 4.2-acre parcel on U.S. 20 in Perrysburg, OH. Area retail includes a proposed Bass Pro Shops and a proposed Wal*Mart. For more information, contact Peter S. Shawaker, Michael Realty. Co.; 300 Madison Avenue, Suite 1530, Toledo, OH; 419-255-3000. KB Real Estate is selling a 60,000 sq.ft., two-level building situated on 4.56 acres on Townline road in Mundelein, IL. Area demographics include a population of 132,576 within five miles earning $141,176 as the average household income. For more information, contact Richard Kahan or Tony Kahan, KB
Real Estate, 790 Frontage Road, Suite 315, Northfield, IL 60093;
847-441-4425/4424; CB Richard Ellis|Urban Retail Group is selling 14.17 acres of land located in front of Wal*Mart Supercenter on Interstate 80 in Sidney, NE. Area demographics include a population of 2,784 within five miles earning $53,027 as the average household income. For more information, contact Keely Polczynski, CB Richard Ellis|Urban Retail Group, 311 South Wacker Drive, Suite 400, Chicago, IL 60606; 312-861-7870, Fax 312-935-1880; Email: keely.polczynski@cbre.com; Web site: www.cbre.com/kpolcyznski. New Regional Planning is selling a 12,000 sq.ft. shopping center located at the intersection of Highway 59 and Highway 36 in Rosenberg, TX for $3.895 million at a Cap rate of 7.5%. The net operating income is $292,000. The center is 92% occupied and tenants have NNN leases. For more information, contact Will Bradley, New Regional
Planning, 3200 Kirby Drive, Suite 214, Houston, TX 77098; 713-523-2929,
Fax 713-523-1414; Email: Baker Katz is selling Kleckley Retail Center, a 25,171 sq.ft. shopping center located on Kleckley Road in Houston, TX, for $3 million. The center is 76% occupied and tenanted by Dollar Tree, GameStop and Check ‘n Go. Target shadow-anchors the site. For more information, contact Ryan West or Kenneth Katz,
Baker Katz, 3355 West Alabama Street, Suite 1177, Houston, TX 77098;
713-621-2900 Ext. 101/105, Fax 713-621-2999; Spake Real Estate is selling two parcels totaling 18.47 acres on Bleachery Boulevard in Asheville, NC for $18.5 million. The site is located between Wal*Mart Supercenter and Home Depot. For more information, contact Eddie Dewey or John Spake,
Spake Real Estate; 828-277-9670 Ext. 104/101; Emails: eddie@spakerealestate.com
and Prudential Prairie Path Realtors is selling an 11,407-acre parcel located on South York Street in Elmhurst, IL for $899,900. Trade-area demographics include a population earning $85,108 as the median household income. The average daily traffic count is 18,000 vehicles. For more information, contact Mickey Muisenga, Prudential Prairie Path Realtors; 630-279-9500. NAI NP Dodge is selling a shopping center located on Tom Osborne Parkway East in Hastings, NE for $2.316 million. Area retail includes Menards and Wal*Mart. For more information, contact Craig Hergott, NAI NP Dodge, 13321 California Street, Suite 300, Omaha, NE 68154; 402-255-6060; Email: chergott@npdodge.com. Schiller Real Estate is selling a 1,753 sq.ft. building on South York Street in Elmhurst, IL. Trade-area demographics include a population earning $85,108 as the median household income. The average daily traffic count is 18,000 vehicles. For more information, contact Cindy Wellwood-Burlie or Bob Schiller, Schiller Real Estate; 630-834-0582. Bosshardt Realty Services, Inc. is selling a 5.2-acre parcel formerly occupied by Denny’s fronting Interstate 75 in Tifton, GA for $2.5 million. For more information, contact John Thomas, Bosshardt Realty Services, Inc., 5542 Northwest 43rd Street, Gainesville, FL 32653; 352-538-4453, Fax 352-378-2737; Email: johnthomas@bosshardtrealty.com. Turner Net Lease Properties, Inc. is selling an Eyeglass World NNN location in Port Charlotte, FL for $1.362 million at a Cap rate of 7.25%. For more information, contact Brittany Bell, Turner Net Lease Properties, Inc., 200 Ocean Avenue, Suite 202, Melbourne Beach, FL 32951; 321-952-2894, Fax 321-952-8967; Email: brittany@turnernetlease.com. Pyramid Brokerage Co., Inc. is selling The Plaza at Salmon Run, a 68,761 sq.ft. shopping center on Arsenal Street in Watertown, NY, for $14.25 million. Hannaford’s anchors the center with Big Kmart shadow-anchoring the site. For more information, contact Joyce Mawhinney MacKnight,
Pyramid Brokerage Co., Inc., 5786 Widewaters Parkway, DeWitt, NY 13214-0003; Staubach Retail is selling Lincoln Center, For more information regarding Lincoln Center, contact Meghan O’Connor, David
T. Wojciechowski and Blair D. Bryan, Staubach Retail, 366 Madison Avenue, 5th
Floor, New York, NY 10017; 646-744-2552, 212-710-5241 or 704-943-2300;
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