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Buyers & Sellers


Horn Capital Realty, Inc. is looking for net-leased properties that meet the following criteria: fast food locations, such as Pizza Hut, KFC and Taco Bell, with sales volumes of $750,000 or more and rent equal to 5% of sales or less; fast food locations, such as McDonald’s, Burger King, Wendy’s, Arby’s and Denny’s, with sales volumes of at least $1 million; restaurants, such as Red Lobster, Chili’s, Olive Garden and T.G.I. Friday’s, with a sales volume of $2 million or more and rents of $100,000 or less; convenience stores, gas stations and auto retailers, such as Jiffy Lube, Goodyear and Monro Muffler, with sales volumes of $750,000 or more and rent equal to 5% of sales or less and supermarkets with rents in the $5 psf range and sales volume of $450,000 or more. The company also will consider ground leases for all types of properties. Below market rents and declining rent situations are preferred, as well as strong sales volumes on retail properties.

For more information, contact Jonathan S. Horn, Horn Capital Realty, Inc., 1108 Kane Concourse, Suite 201, Bay Harbor Islands, FL 33154; 305-864-2000, Fax 305-864-4240; Email: jsh@horncapital.com.

SilverCreek Properties closed escrow on a multi-tenant retail pad building located on the corner of Sycamore and Cochran in Simi Valley, CA. The 9,400 sq.ft. building will be anchored by Starbucks. The site neighbors Mervyn’s, Ross ‘Dress for Less,’ Sav-On Drugstore and Blockbuster.

For more information, contact John R. Kiley, SilverCreek Properties, 24461 Ridge Route Drive, Suite 200, Laguna Hills, CA 92653; 949-470-4533, Fax 949-470-4595; Email: jkiley@silvercreekprop.net.

Northwest Atlantic Real Estate Services is marketing the following excess Costco Wholesale properties: 122,944 sq.ft. on 9.81 acres for sale or lease for $5 million at 2200 Plaza Parkway in Modesto, CA; 132,052 sq.ft. on 16.6 acres for sale with a $4 million price tag at 3101 Gilmore in Bakersfield, CA; 127,354 sq.ft. on 8.47 acres for sale for $12 million at 40580 Albrae Street in Fremont, CA; 136,044 sq.ft. on 11.14 acres for sale or lease with a $7.5 million price tag at 12649 Foothill Boulevard in Rancho Cucamonga, CA; 117,044 sq.ft. on 9.3 acres for sale or lease with a $10 million asking price at 500 West Linton in Delray Beach, FL; 14,048 sq.ft. on 1.12 acres for sale with a $1.75 million price tag and located at the intersection of Tyvola and Center Lane in Charlotte, NC; 3.4 acres for sale at an asking price of $1.333 million at the intersection of Interstate 80 and Green Valley in Fairfield, CA; 2.6 acres for sale with a $1.7 million asking price at 7300 South Cicero in Bedford Park, IL; one acre for sale for $750,000 at 7300 South Cicero in Bedford Park, IL; 4.2 acres for sale at an asking price of $1.3 million at the intersection of Interstate 55 and Interstate 270 in St. Louis, MO; 2.3 acres for sale at a $2.05 million price tag at the intersection of Interstate 55 and Interstate 270 in St. Louis, MO; 1.4 acres for sale at a $1.28 million price tag at the intersection of Interstate 55 and Interstate 270 in St. Louis, MO; 1.28 acres for sale for an asking price of $670,000 at the intersection of Executive Parkway and Spencer in St. Peters, MO; 9.2 acres for sale at an asking price of $3.4 million at the intersection of Lincoln Avenue near Route 27 in Edison, NJ; 10 acres for sale at a $2.75 million price tag at the intersection of Highway 15 and Highway 640 in Laval, Quebec, Canada; 8.8 acres for sale for an asking price of $1.25 million at the intersection of Highway 40 and Highway 73 in Quebec City, Quebec, Canada; 6.47 acres for sale at a price tag of $3.25 million at the intersection of Interstate 10 and UTSA Boulevard in San Antonio, TX; 1.27 acres for sale at an asking price of $996,000 at the intersection of Germantown and Rockcreek in Memphis, TN; 8.62 acres for sale at a $4.88 million price tag at the intersection of 39th Avenue at 14th Street in Puyallup, WA and 6.15 acres for sale at an asking price of $2.406 million at the intersection of Carothers Parkway and Bakers Bridge in Franklin, TN.

For more information, contact Northwest Atlantic Real Estate Services, 1730 Red Hill Avenue, Suite 230, Irvine, CA 92614; 949-724-0025, Fax 949-724-0322; Web site: www.northwestatlantic.com; Steve McArthur for CA, 949-724-0025; Lew Kornberg for IL, 847-375-9966; Rick Randall at PACE for MO, 314-968-9898; Colleen Quinn for NJ, 914-328-2222; Andy Misaveq at Shopping Center Group for NC, 704-335-5455; Tim Sanderson for Canada, 416-391-3900; David Darr for TX, 210-525-0131; Gil Ryan at Belz for Memphis, TN, 901-767-4780; Sharon Wilkins for WA, 425-462-2061; Boyce Magli at Magli Realty for Franklin, TN, 615-794-5484; Scott Underhill at Grubb & Ellis for Bakersfield, CA, 661-862-5454, Ann Fetherston at FSCG for FL, 305-262-8877.

Sullivan Hayes is marketing the 81,289 sq.ft. Belmont Center located at the intersection of Constitution Road and Bonforte Boulevard in Pueblo, CO. The center is anchored by Save-A-Lot, US Bank and Goodwill Industries. The center has a NOI of $474,869 and an asking price of $4.58 million.

For more information, contact C. Scott Gray, Bentley Hill or Chris B. Barnett, Sullivan Hayes, 90 South Cascade Avenue, Suite 1130, Colorado Springs, CO 80903; 719-634-6400, Fax 719-634-1609; Web site: www.sullivanhayes.com.

Marketing Brokers is marketing a 22,500 sq.ft. corner lot at the signalized intersection of 7995 La Plama Avenue in Buena Park, CA. The average daily traffic count at site is 106,568 vehicles. The company also is marketing a 1,900 sq.ft. Walgreens building with a drive-thru at the signalized intersection of Euclid and Commonwealth in Fullerton, CA. The average daily traffic count at the site is 57,000 vehicles. Area demographics include a population of 162,184 residing in a three-mile radius earning an average household income of $69,346.

For more information about the Buena Park, CA property, contact David Peckenpaugh and for more information about the Fullerton, CA property contact Jim Vosler or Eric Michel, Marketing Brokers, 16101 Goldenwest Street, Huntington Beach, CA 92647; 714-375-5777.

Allied Retail Partners, LLC is pursuing acquisitions of retail properties and retail development sites in AZ, CA and NV. The company is interested in deals of $3 million to $40 million for existing shopping centers and $1 million to $10 million for land purchases. Preferred property types include anchored retail centers, specifically with expansion or retenanting opportunities; vacant retail buildings; mixed-use properties with significant retail components; build-to-suit opportunities; sale/leaseback opportunities; land for retail development and secured portfolios and notes.

For more information, contact David Goldman, Allied Retail Partners, LLC, 1640 South Sepulveda Boulevard, Suite 112, Los Angeles, CA 90025; 310-235-0444, Fax 310-996-2328; Email: dgoldman@alliedretailpartners.com or Doug Beiswenger, Allied Retail Partners, LLC, 117 Pearl Avenue, Newport Beach, CA 92662; 949-566-9220, Fax 949-566-9221; Email: dbeiswenger@alliedretailpartners.com.

The Goldstein Group is marketing a 27,000 sq.ft. retail facility in Ocean County, NJ. The 16-year NNN lease with increases has a Cap rate of 7.5%.

For more information, contact Wayne King or Justin Manjorin, The Goldstein Group, 2100 Route 208, Fair Lawn, NJ 07410; 201-703-9700, Fax 201-703-9678; Email: rwking@thegoldsteingroup.com or jmanjorin@thegoldsteingroup.com; Web site: www.thegoldsteingroup.com.

Ross Realty Group, Inc. brokered the sale of Terrace Gardens, an office/retail property located at 4819 East Busch Boulevard in Tampa, FL. A local investor acquired the 12,600 sq.ft. building for $607,500.

For more information, contact Elliott M. Ross, Ross Realty Group, Inc., 20505 U.S. Highway 19 North, Suite 502, Clearwater, FL 33764; Email: elliottross@rossrealty.com; Web site: www.rossrealty.com.

Janovetz Realty Advisors is marketing three Staples locations with 15-year leases, 10% and 15% increases and a Cap rate of 9.3%. The company also is marketing three Office Depot locations with 15-year leases, 15% increases and 9.3% Cap rates. In addition, more than 19 Walgreens locations with 20-year and 25-year leases and 7.75% to 8.25% Cap rates are being marketed. The company also is marketing more than 20 shopping centers with 8.25% to 13.89% Cap rates as well as hotels, office buildings, land and NNN properties.

For more information, contact James A. Janovetz, Janovetz Realty Advisors, Six East Yacht Drive, Oak Island, NC 28465; 910-278-9932, Fax 910-278-9951; Email: janovetz@ix.netcom.com; Web site: www.janovetzrealtyadvisors.com.

Atlanta Realty Advisors is marketing an Arby’s restaurant with a triple net lease, a Cap rate of 9.16% and an NOI of $96,192. The 2,415 sq.ft. building is located one block from a high school on a 0.8-acre corner lot with a traffic count of 45,000 vehicles. The 20-year lease commenced in June 1988 with no options and an expiration date of June 2008. The tenant has a 20-day first right of refusal to purchase, but has expressed no interest in owning the property. The lease calls for CPI bumps every five years and the increase is next due in 2003. The asking price is $1.05 million.

For more information, contact Top Kervin, Atlanta Realty Advisors, PO Box 11575, Atlanta, GA 30355; 770-616-6180, Fax 770-452-0953; Email: ara@sysmatrix.net; Web site: www.atlantarealtyadvisors.com.

NAI Capital Commercial is marketing a Food 4 Less location with 14 years remaining on a 20-year true NNN lease with rental increases every five years. The asking price is $4.565 million with an existing self-amortizing financing of $2.3 million. The seller believes this property is ideal for a 1031 investment or a tax deferred entity.

For more information, contact Mel Moss, NAI Capital Commercial, 11999 San Vicente Boulevard, Suite 215, Los Angeles, CA 90049; 310-440-8500, Fax 310-440-8525; Email: mmoss@naicapital.com; Web site: www.naicapital.com.

Entertainment Properties Trust acquired six megaplex theater properties in five states with an aggregate value of $120 million. The theaters are located in FL, KS, MI, SC and Washington, DC.

For more information, contact Entertainment Properties Trust, 30 Pershing Road, Suite 201, Kansas City, MO 64108; 888-377-7348; Web site: www.eprkc.com.