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Buyers & Sellers
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Buyers & Sellers Baywood Trust Group is marketing 10 acres of land with 800 feet of frontage on FM 2094 Marina Bay in the Harris Galveston County TX area. Development on the land is unrestricted and all utilities are in place. The parcel is adjacent to a Home Depot Target and Super Wal*Mart and can be utilized for mixed-use development retail office space or a restaurant hotel or motel. The site is less than one half-mile from Kemah an entertainment district. For more information contact Daniel Dickens Baywood Trust Group 5500 Genoa Red Bluff Pasadena TX 77505; 281-998-9233 Ext. 144. Philips International Realty Corp. sold the Highway 101 Shopping Center in Port Angeles WA for $4.5 million. For more information contact Carl Kraus Philips International Realty Corp. 417 Fifth Avenue New York NY 10016; 212-951-3868. Weingarten Realty Investors acquired Sunset Point 19 from Sunset Associates for an estimated $34 million. The Clearwater FL shopping center located at the intersection of Highway 19 and Sunset Point Road contains 273 000 sq.ft. of space on 25.8 acres. The center is 100% leased and is anchored by Old Navy Publix Bed Bath and Beyond Sports Authority Staples Comp USA Barnes & Noble and Eckerd Drug. For more information contact Weingarten Realty Investors 4400 North Federal Highway Suite 210 Boca Raton FL 33431; 561-417-5900 Fax 561-417-5991; Web site: www.weingarten.com. Lechner Realty Group Inc. is selling the 36 021 sq.ft. Old Capitol Shopping Center in Vandalia IL at an asking price of $995 000. The center is located adjacent to Illinois’ state capitol and its tenants include Kroger Dollar General Broadway Video and The Jug. The asking price is based on a Cap rate of 11.92 %. For more information contact Hal Hanstein Lechner Realty Group Inc.; 314-909-8100 Ext. 102 Fax 314-909-0607; Web site: www.isellstlouis.com; Email: hhanstein@ccim.net. RJS Realty Group brokered the sale of the 114 925 sq.ft. Ryanwood Square in Vero Beach FL to Ryanwood Shopping Center an affiliate of Equity One on behalf of F.B. Baia Vero Limited Partnership. The center located at the northeast corner of Kings Highway and Highway 60 is anchored by a 39 795 sq.ft. Publix a 16 850 sq.ft. Books A Million and a 13 000 sq.ft. Beall’s Outlet. For more information contact Bob Sullivan RJS Realty Group 120 North Federal Highway Suite 111 Boca Raton FL 33432; 561-659-9771 Ext. 105. Rein & Grossoehme brokered the sale of a 12 739 sq.ft. former Eckerd Drug location at 2320 West Illinois Avenue in Dallas TX on behalf of Commercial Net Lease Realty for $4.875 million. Rein & Grossoehme also represented the buyer Christensen Limited Partnership in the deal. For more information contact Rein & Grossoehme 3900 East Camelback Road Suite 408 North Phoenix AZ 85018; 602-954-7000 Fax 602-954-7001; Web site: www.high-yield.com; Email: mail@High-Yield.com. Royal LePage Landmark Realty is looking to acquire shopping centers in major metropolitan markets with large national credit anchors on behalf of a client. The company is looking for transactions of at least $15 million. For more information contact George Jordan Royal LePage Landmark Realty; 902-628-6500 549 North River Road Charlottetown Prince River Island CIE I56 Canada. Eyde Company is marketing eight acres of land at the intersection of Linden Road and Lennon Road in Flint MI. Population figures within 10 miles are estimated at 117 132 with an average household income of $42 123. The parcel is adjacent to the Genesee Valley Mall and is for sale or lease. The property is suitable to a big box user. For more information contact Michele Abbruzzese Eyde Company 4660 South Hagadorn Road Suite 660 East Lansing MI 48823; 517-351-2480 Fax 517-351-3946; Web site: www.eyde.com; Email: mshaw@eyde.com. Sperry Van Ness brokered the sale of the El Dorado Shopping Center at 8111 East Wardlow Road in Long Beach CA on behalf of Milco Investments for $6.8 million. The 75 150 sq.ft. center in anchored by T.J. Maxx Big A Drugs and Huffs Restaurant. The buyer Wardlow Centers Partners LLC intends to renovate the center. For more information contact Sperry Van Ness 18881 Von Karman Avenue Suite 800 Irvine CA 92612; 949-250-4100 Fax 949-250-4100. Candler Development Company acquired Wal*Mart Stores Inc.’s 32-acre site in Clermont FL for $2.5 million. The company plans to build up to seven restaurants and a 100-room hotel on the parcel located at State Road 50 and U.S. 27. Clermont is home to 16 208 permanent residents and is 25 miles west of Orlando FL. For more information contact Dick Candler Candler Development Company 180 Allen Road Suite 202 Atlanta GA 30328; 404-303-1600 Fax 404-303-0250. Marcus & Millichap is marketing a 31 080 sq.ft. Gander Mountain location in Peoria IL at an asking price of $3.15 million. The company is offering the hunting fishing and camping store which is situated on 3.03 acres at a Cap rate of 9.5% with a down payment of $787 500. The company also is marketing 62 557 sq.ft. of rentable space on 5.92 acres in Terra Haute IN for $2.1 million. The property is anchored by CVS and Dollar General and the sale includes the 52 764 sq.ft. Southland Center located on the corner of 7th Street and Margaret Avenue a bank outparcel on a ground lease and a leased maintenance building behind the center. The property also contains an additional 1.8 acres of adjacent ground for future expansion. The company is offering the shopping center at a Cap rate of 12.7% and is seeking a down payment of $525 000.For more information on Gander Mountain contact Marcus & Millichap 8750 West Bryn Mawr Avenue Suite 750 Chicago IL 60631; 773-693-0700 Fax 773-693-2114; Web site: www.marcusmillichap.com. For more information on the Terra Haute IN shopping center contact Marcus & Millichap 101 West Ohio Street Suite 1550 Indianapolis IN 46204; 317-955-2600 Fax 317-955-0091. Chase Properties is seeking to acquire centers in the midwest southern or eastern U.S. Transactions between $1 million and $30 million are of interest. The company is looking for a 10.5% Cap rate an occupancy of 50% to 90% and prefers a GLA between 100 000 sq.ft. and 500 000 sq.ft. For more information contact David A. Palchesko Chase Properties 25825 Science Park Drive #355 Beachwood OH 44122; 216-464-6626 Fax 216-464-6346. Westcor Partners sold the 115 000 sq.ft. North Valley Power Center located at the southeast corner of 83rd Avenue and Thunderbird Road in Peoria AZ and the 125 000 sq.ft. Arrowhead Marketplace situated at the northeast corner of 83rd Avenue and Bell Road in Glendale AZ to GDA Real Estate Services for $27.8 million. The 100% leased North Valley Power Center is anchored by JCPenney Home Store Ross ‘Dress For Less’ and JoAnn Fabrics while the 90% leased Arrowhead Marketplace is anchored by Office Max Paddock Pools and Golfsmith. For more information contact Westcor Partners 11411 North Tatum Boulevard Phoenix AZ 85028; 602-953-6205. Sivan Enterprises is seeking to acquire an investment grade NNN property for approximately $1 million to $1.2 million. The company prefers a location in the NY metro area but will consider all offers in the U.S. The property must have rent increases in the primary term and the Cap rate must be at least 8.5%.For more information contact Daniel Mermel Sivan Enterprises 74 Valley Road Plandome NY 11030; Fax 516-365-8201. Millennium Properties Inc. sold a strip center located at the southeast corner of Jefferson and Larkin in Joliet IL for $2.25 million. The center is leased to Hollywood Video and Payless Shoes and has an average daily traffic count of more than 30 500 vehicles. For more information contact Daniel J. Hyman Millennium Properties 55 West Monroe Street Chicago IL 60603; 312-338-3003. Location Realty Inc. acquired an 11-acre parcel in Putnam CT adjacent to Super Stop & Shop Big Kmart T.J. Maxx and Wal*Mart. The transaction was part of a 1031 Like Kind Tax Exchange. For more information contact Location Realty Inc. 921 Saybrook Road Middletown CT 06457; 860-344-0001. |