Buyers & Sellers
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Buyers & Sellers

Konover & Associates Inc. is putting its shopping center portfolio up for sale. The company’s holdings include over seven million sq.ft. in 60 properties throughout the Northeast. The sale is expected to be completed within two years and will be handled by the company’s affiliate, Konover Investments Corporation. The company is selling its portfolio to concentrate on its current development projects and its construction company.

For more information contact Rick Liljedahl, Konover Capital Advisors, P.O. Box 4054, Farmington, CT 06034-4054; 860-284-7100, Fax 860-284-1176.

 

Divaris Real Estate brokered the sale of the 5,760 sq.ft. Military Square Shoppes in Norfolk,VA. The center is located on North Military Highway and is anchored by Mei’s Tailors and India Grocery. The buyer was Shepherd Investments, LLC and the transaction price was $400,000.

For more information contact Gerald S. Divaris, Divaris Real Estate, One Columbus Center, Suite 700, Virginia Beach, VA 23462-6760; 757-497-2113, Fax 757-497-1338.

 

Sperry Van Ness brokered the sale of the 126,725 sq.ft. Sierra Vista Plaza located on Hancock Avenue in Murrieta, CA. The center is anchored by Stater Brothers, Sav-On, Chuck E. Cheese and Jack in the Box and the transaction price was $9.513 million. The company represented the seller, Watt-Las Brisas Associates, Ltd. and the buyer was Passco Real Estate Enterprises, Inc.

For more information contact Reza Etedali, Sperry Van Ness, 18881Von Karman Avenue, Suite 800, Irvine, CA 92612; 949-250-4100, Fax 949-250-4143.

 

Rein & Grossoehme brokered the sale of the 18,600 sq.ft. Fry’s Plaza in Mesa, AZ. The center is located at the intersection of Main and Greenfield Streets, adjacent to Fry’s Foods and was fully occupied at closing. The transaction price was $1,690,090 and the seller was Hansen Holiday Corporation.

For more information contact Mark Rein, Rein & Grossoehme, 3900 East Camelback Road, Suite 408 N, Phoenix, AZ 85018-2656; 602-954-7000, Fax 602-954-7001.

 

Robson & Goldberg Real Estate, Inc. is marketing the sale of the Point Plaza Shopping Center in Turnersville, NJ. The center is tenanted by the U.S. Post Office, Valentino’s Hair Salon, All State Insurance, Panacelli Pizza, Flags & Collectibles and Children’s Clothing. The project has a NOI of $109,323 and the asking price is $1.1 million.

For more information contact M. Rozanski, Robson & Goldberg Real Estate, Inc., 121 Johnson Road, Turnersville, NJ 08012; 856-228-0900, Fax 856-228-0676; Email: mjr360@home.com.

 

Equity Investment Group acquired the 122,843 sq.ft. Northwest Fashion Place in Milwaukee, WI. The center is situated on 12.744 acres and is anchored by SteinMart, Mars Music, Jo-Ann Fabrics, David’s Bridal and Family Christian Stores. The seller was Heitman Capital and Mid-America Real Estate Corporation brokered the transaction.

For more information contact Wanda Albert, Equity Investment Group, One Buckhead Plaza, 3060 Peachtree Road Northwest, Suite 1560, Atlanta, GA 30305-2242; 404-364-2984, Fax 404-364-2985.

 

Erwin L. Greenburg Commercial Corporation and Prudential Real Estate Investors acquired the 165,000 sq.ft. Hampton Towne Center in Hampton, VA. The center is located near the intersection of Interstate 64 and Hampton Roads Center Parkway and is anchored by Farm Fresh Supermarket. Other tenants include Eckerd Pharmacy, TJ Maxx, Books-a-Million, an ABC store, Coast Dental, Dollar Tree, Hallmark, Healthquest, Mail Boxes Etc., Peking Restaurant, Petland, Shoe Carnival, Supercuts, Triton PCS/Suncom AT&T, Utimate Cuts and Zero’s Subs. A 24-screen AMC Theater is adjacent to the center. The seller was Ellis Gibson and the transaction price was $15.1 million. The center was acquired as part of a $250 million joint shopping center investment program between the companies.

For more information contact Brian J. Gibbons, Erwin L. Greenburg Commercial Corporation, 400 East Pratt Street, Suite 606, Baltimore, MD 21202-3126; 301-837-2500, Fax 301-837-0596.

 

Inland Real Estate brokered the sale of the 148,067 sq.ft. Pine Lake Community Shopping Center in La Porte, IN. The center is anchored by Kroger, Quality Stores, Fashion Bug, GNC, Dollar Tree and Napa Auto Parts. The center was built in 1988 and is located 60 miles southeast of Chicago, IL.

For more information contact Steven H. Rubin, Inland Real Estate Sales Inc., 314 West Superior Street, Suite 4W, Chicago, IL 60610; 312-280-0100, Fax 312-280-1051; Web site: www.inlandgroup.com.

 

Bison Financial Group, Inc. has the listing to sell a 25,104 sq.ft. center in the most densely populated county in FL. The project is located near the intersection of the main crossroads and is fully occupied. The center has an asking price of $1.85 million at a 9.5% CAP rate.

For more information contact David D. Repka, Bison Financial Group, Inc., 449 Central Avenue, Suite 204, St. Petersburg, FL 33701; 727-289-4400, Fax 727-289-4401; Email: davidr@bisonfinancial.com, Web site: www.bisonfinancial.com.