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Buyers & Sellers
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Buyers & SellersRoss Realty Group Inc. represented the seller, a private investor in the sale of 2.25 acres of land located at the intersection of Van Dyke Road and Lakeshore Drive in Lutz, FL. Palm Beach Realty Group, Inc. represented the buyer, The Convenience Store Warehouse, Inc. For more information, contact 727-725-2800.
Equity Properties has the listing to sell 4.15 acres located at the intersection of Larchmont Boulevard and Marne Highway in Mount Laurel, NJ. The lot occupies a corner location at a signalized intersection, and is being marketed for investment or development opportunity. For more information, contact David Vender at 610-645-7700, Fax 610-645-5454, Email dav@realinfonow.com
Nassimi Realty Corporation is seeking properties ranging in price from $500,000 to $30 million including existing shopping centers of 50,000 sq.ft. minimum with value added potential through redevelopment, expansion or vacancy; land for retail development with a minimum of 50,000 sq.ft. of buildable space, as well as other properties. The company prefers properties located in the northeastern corridor between Boston , MA and Washington, D.C. For more information, contact Dennis Cieri or Oliver Nassimi at 212-643-8080, Fax 212-643-2626.
Welco Realty has the listing to sell a parcel of land zoned for retail and office use located near the intersection of Westchester and Third Avenues in The Bronx, NY. The company will build to suit for rated companies, ground lease or sell outright. Developers may build approximately 19,000 sq.ft. for retail use on the ground floor, approximately 19,000 sq.ft. retail or office on the second floor and approximately 19,000 sq.ft. on a possible third level. A storage basement of the same dimension is also buildable. Demographics show a population of 1.093 million residing within three miles earning a household income of $35,123. For more information, contact 914-576-7500, Fax 914-576-7596.
KLMB, Inc. brokered the sale of a 64,000 sq.ft., 6.5-acre shopping center located on Dobbin Road in Towson, MD. The buyer was Continental Realty Acquisition Corp., and the seller was Talon Development Associates. The center is currently occupied to capacity by Ross Dress For Less and Scan Furniture. The sale price was $4.7 million. For more information, contact Kevin Barrett or Michael Patz at 410-321-0100.
BVT offers financial resources and development services to developers, investors and joint venture partners looking to partner with the company to acquire grocery-anchored neighborhood shopping centers throughout the Sunbelt. Centers should measure between 75,000 sq.ft. and 150,000 sq.ft. be anchored by the #1 or #2 supermarket in the area with at least 15 years remaining on the anchor lease. 50% of income should come from anchor and credit tenants, while 60% of total GLA should be credit tenants. Demographic requirements include a population of 50,000 residing within five miles. The company pays cash and can assume financing. Closing typically occurs within 60 days, and the company is willing to consider forward commitments as well. For more information, contact 770-618-3500, Fax 770-618-3559.
J.D. Reece has the listing to sell a 71-acre parcel of land located by Tanglewood Lake in Lacygne, KS. The asking price is $2,500/acre. A cash deal or conventional financing are possibilities. For more information, contact Lorrie Nicolas at 913-219-7061, Fax 913-782-5023, Email lorrienicolas@yahoo.com
Jupiter Realty Corporation purchased two Wards department store buildings, a 162,000 sq.ft. property located on Likes Peak Avenue in Colorado Springs, CO, and a 193,000 sq.ft. building located on Spencer Highway in Pasadena, TX. For more information, contact Donald Smith at 312-642-6000, Web site www.jupiterrealty.com
The Zacher Company sold Harrison Plaza Shopping Center, a 123,000 sq.ft. center located in Bluffton, IN. Anchors include Scott’s Food Stores and Walgreens. For more information, contact David Nugent at 219-422-8474, Fax 219-422-9301, Email info@zacherco.com
Mid-America Real Estate Corporation represented the seller, Archon Group, LP in the sale of Glenwood Plaza, a 221,000 sq.ft. shopping center located at the intersection of Halsted and 183rd Street in Glenwood, IL. The center is anchored by Harlem Furniture, Signature Group and Little Guys Electronics. U.S. Pacific Property, LLC was the buyer. The company also represented Archon Group LP in its sale of Cross Creek Commons, an 82,000 sq.ft. shopping center located at the intersection of Plum Grove and Nerge Roads in Roselle, IL. The center is anchored by Ace Hardware. The buyer was RMS Properties. For more information, contact John May at 630-954-7300.
Snow Properties, Inc. has the listing to sell a .77-acre parcel zoned general business situated adjacent to Zaxby’s restaurant along Highway 72 in Athens, GA. All utilities are on site. The asking price is $300,000. For more information, contact Tommy Mitchell or Vance Snow at 706-353-8107.
Burnham Pacific Properties Inc. signed an agreement for the sale of 19 properties to GMS Realty, LLC for $305 million in cash. Burnham received a fairness opinion from the banking firm of Houlihan Lokey Howard & Zukin that confirmed the fairness of the offer from a financial standpoint. The properties total 2.5 million sq.ft. and are all supermarket-anchored shopping centers in CA. The sale is contingent on several conditions, including the approval of Burnham’s plan of liquidation by its shareholders. For more information, contact Scott Verges at 800-462-5181.
The Boulder Group sold a 3,000 sq.ft. property located in Cincinnati, OH on which Steak ‘n’ Shake holds a long term lease. The sale price was $1.24 million, and the property was purchased by an OH investor for the purpose of completing a 1031 exchange. The Boulder Group is the parent company of 1031properties.com For more information, contact Randy Blankstein at 847-562-0003.
Miller Valentine Realty has the listing to sell Xenia Plaza, a 52,338 sq.ft., five-acre shopping center located in Xenia, OH. Anchors include Goodwill, CVS and Dollar General. Projected NOI for the current year is $218,747, and the asking price is $1.95 million. For more information, contact Pete Nichols at 937-297-3259, Fax 937-299-1564, Email pnichols @mvg.com
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