Buyers & Sellers
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Buyers & Sellers


EJC Properties acquired Acacia Square, located at the intersection of Stone Avenue and Fort Lowell Road in Tucson, AZ, from Stone/Ft. Lowell Joint Venture. The 37,613 sq.ft. center was 97.3% occupied at the time of the sale. CB Richard Ellis brokered the transaction.

For more information, contact Nancy A. McClure, CB Richard Ellis Tucson, LLC, Suite 400, 5210 East Williams Circle, Tucson, AZ 85711; 520-323-5117; Email: nmcclure@cbre.com; Web site: www.cbre.com.

Sperry Van Ness Mullin is selling the following properties: Dove Canyon Plaza, a 69,461 sq.ft. shopping center located on Dove Canyon Drive in Rancho Santa Margarita, CA. The center is anchored by Gold’s Gym and is tenanted by Saratoga Grill. The average household income is more than $159,000. The asking price is $9,950,000 with a down payment of $4,450,000; Gateway Plaza, an 81,685 sq.ft. shopping center located at 665-687 Lake Powell Boulevard in Page, AZ. Tenants include Bashas’, AZ Department of Economic Security, Radio Shack, Subway and Allied Cash. The asking price is $5.5 million with a Cap rate of 10%; Palo Verde Square, a 35,062 sq.ft. shopping center located on the northeast corner Shea and Frank Lloyd Wright Boulevards with a daily traffic count of 60,180 vehicles in Scottsdale, AZ. Tenants include AZ Rib Co., Buster’s Grill, Cost Cutters, Sparkletown Cleaners, Beds Direct and America’s Mortgage Store. The asking price is $6.6 million. with a Cap rate of 8.3%; Winston Plaza is located on 31760-31762 Mission Trail in Lake Elsinore, CA. The center is anchored by Winston Tire and the asking price is $2,850,000 with an 11.03% Cap rate; Foothill Acacia Plaza is a 23,865 sq.ft. shopping center located at 573-611 Foothill Boulevard in Rialto, CA. Anchors include State Bros., Market and Pep Boys. The asking price is $2,450,000 with a 10.51% Cap rate.

For more information on: Foothill Acacia Plaza or Winston Plaza, contact Jon Sorokowski, Sperry Van Ness, 800 N. Haven Avenue, Suite 100, Ontario, CA 91764; 909-466-2500, Fax 909-466-2512; Web site: www.svn.com; on Dove Canyon Plaza, contact Reza Etedali, Sperry Van Ness, 1881 Von Karman Avenue, Irvine, CA 92612; 949-250-4100, Fax 949-280-4126; Gateway Plaza or Paco Verde Square contact Sperry Van Ness, 4800 North Scottsdale Road, Scottsdale, AZ 85251; 480-425-5500, Fax 480-425-5525.

Grubb & Ellis is selling the following properties: Tri-City Pavillions, a 93,267 sq.ft. Safeway-anchored shopping center located at the northeast corner of Dobson Road and Main Street in Mesa, AZ. The asking price is $19.4 million; Napa Town Center is a 118,907 sq.ft. shopping center located in Napa, CA. Tenants include Ben & Jerry’s, Blue Chip Cookies, Claire’s Boutique, GNC, KB Toys, Miller’s Outpost, Napa Visitor’s Center, Nevada Bob’s Golf, President’s Tuxedo and Rocky Mountain Chocolate. The asking price is $16,750,000; a 54,700 sq.ft. Best Buy is located in Hawthorne, CA. The asking price is $13.7 million with a Cap rate of 7.5%; Comotara Power Center is a 61,000 sq.ft center located at 3535 North Rock Road in Wichita, KS. Tenants include Linens ‘n Things and OfficeMax. The asking price is $8 million with a 9.24% Cap rate. Santa Cruz Plaza is a 74,200 sq.ft. grocery drug-anchored center located in Tucson, AZ. The center is 97% occupied and has an asking price of $9,450,000 with a 10.03% Cap rate.

For more information on: Best Buy or Santa Cruz Plaza, contact Dixie Walker, Grubb & Ellis Company, 4695 MacArthur Court, Suite 600, Newport Beach, CA; 949-608-2000, Fax 949-608-2003; Napa Town Center, contact Michael Federle, Grubb & Ellis Company, 415-477-9288, Fax 415-956-5996; Email: mike.federle@grubb-ellis.com; Tri-City Pavillions, contact Gregory B. Valladao, Grubb & Ellis Company, 2375 Camelback Road, Suite 300, Phoenix, AZ 85016; 602-224-4400, Fax 602-468-8588; Web site: www.grubb-ellis.com; Comotara Power Center, contact Steve Martens, Grubb & Ellis Company, 435 South Broadway, Wichita, KS 67202; 316-262-0000, Fax 316-262-0235; Web site: www.martenscos.com.

Pine Tree Commercial Realty, LLC sold College Park Plaza, a 78,451 sq.ft. retail center in Appleton, WI. The center is located on the southeast corner of Route 441 and College Avenue.

For more information, contact Peter Borzak, Pine Tree Commercial Realty, 51 Sherwood Terrace, Suite C, Lake Bluff, IL 60044, 847-735-0600.

Insignia-Thalhimer is selling Downtown Shortpump, a 34,000 sq.ft. center located on Pouncey Tract Road in Henrico County, VA.

For more information, contact David M. Smith, Insignia-Thalhimer, 1313 East Main Street, Richmond, VA 23219, 804-648-5881, Fax 804-697-3479; Web site: www.insignia-thalhimer.com; Email: david.smith@thalhimer.com.

Commercial Net Lease Realty, Inc. is seeking to acquire commercial properties and portfolios. The company prefers single-tenant properties and long-term net leases.

For more information, contact Cynthia Shelton, Commercial Net Lease Realty, Inc., 450 S. Orange Avenue, Suite 900, Orlando, FL 32801; 407-650-1206; Email cynthia.shelton@cnlreit.com.

Henry S. Miller Commercial, TCN is selling Sky Ridge Plaza, a 199,443 sq.ft. center located at the NW corner of IH-35 and Hesters Crossing in Round Rock, TX for $20.5 million. The center encompasses a land area of 18.662 acres and is tenanted by Gymboree of Austin, Farm Bureau, Minute Man Press, Peter Piper Pizza, World Gym, Brook Mays, HealthSouth, Sports Clips, Clearstream Comm, Luby’s Cafeterias, Hastings, GNC, Rent-A-Center, Walgreens, Liberty Mutual Insurance, Navy, Army, Marines, Car Temps USA and Sylvan Learning Center.

For more information, contact Robert Grunnah, Henry S. Miller, TCN, 1100 Providence Towers West, 5001 Spring Valley Road, Dallas, TX 78759; 972-419-4069, Fax 512-794-9515; Web site: www.henrysmiller.com; Email: gru@henrysmiller.com.

Urstadt Biddle Properties, Inc. is looking to acquire supermarket-anchored neighborhood and community shopping centers of at least 50,000 sq.ft. with a minimum acquisition price of $4 million. Preferred locations include CT, NJ and NY.

For more information, contact John C. Merrit, Urstadt Biddle Properties, Inc., 321 Railroad Avenue, Greenwich, CT 06830; 203-863-8211, Fax 203-861-6755; Email: jmerritt@ubproperties.com.

The Brookhill Group is looking to acquire centers preferably in the eastern states with a GLA of at least 100,000 sq.ft. and a minimum trade area population of 250,000. The company is seeking a 10% Cap rate.

For more information, contact Herbert Salis, The Brookhill Group, 501 Madison Avenue, New York, NY 10022; 212-753-3123, Fax 212-371-9515; Email herbsalis@brookhillre.com.

The Hutensky Group is seeking to acquire more than $200 million of shopping centers in the northeast, Mid-Atlantic and midwest. The company prefers GLAs of at least 100,000 sq.ft. with neighborhood, community and regional shopping centers and small-to-medium sized enclosed malls being of interest. The target purchase price is $7 million and up.

For more information, contact Brad M. Hutensky, The Hutensky Group, 280 Trumbull Street, 2nd Floor, Hartford, CT 06103, 860-297-4530, Fax 860-706-0076, Web site: www.hutenskygroup.com, Email: bhutensky@hutenskygroup.com.

The Boulder Group is marketing a net-leased Walgreens in Chicago, IL for $4.44 million. The property has a 20-year lease and the asking price reflects a Cap rate of 8.1%.

For more information, contact, Randy Blankstein, The Boulder Group, 1945 Techny #6, Northbrook, IL 60062; 847-562-0003, Fax 847-589-1217.