Buyers & Sellers
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Buyers & Sellers

Realty America Group plans to acquire the Lincoln Mall in Matteson, IL. The company plans to revitalize the mall.

For more information, contact Kip Sowden, Rives Castleman or Jeffrey Berry, Realty America Group, 5440 Harvest Hill Road, Suite 237, Dallas, TX 75230; 972-380-9400, Fax 972-380-9644; Web site: www.realtyamericagroup.com.

Sperry Van Ness is selling the following properties: Rancho Alta Mira Centre, a supermarket-anchored center located at 4900-4990 West Craig Road in Las Vegas, NV for $9.4 million. The offering includes two inline buildings and one built out pad. Tenants include Blockbuster Video, Papa Murphy’s, Post Net, United Blood, Dairy Queen, Subway and H&R Block. Albertsons owns its own building; Summerhill Plaza Office Park located on West Lake Mead in Las Vegas, NV for $4.65 million. The site has retail/office investment pads with four strong NNN long-term leases. Tenants include a major bank and Nextel Communications; Trop Decatur Auto Plaza, an inline, fully-leased automotive use plus two front pads (one pad is auto, while the other is for retail), for $5.4 million. The site has a 10.14% cash on cash return. The site has an average daily traffic count of 88,000 vehicles and a population of 300,000 within five miles; and C&R Plaza Strip Shopping Center in Las Vegas, NV for $1.5 million.

For more information, contact Dario Franceschi or Michael Boscia, Sperry Van Ness, 1881 Von Karman, Suite 800, Irvine, CA 92612; 702-914-2200; Email: dariof@lvcm.com.

Wissman Commercial Real Estate is representing a 1031 client looking to acquire CVS locations with NN or NNN leases with bumps. The company also will look at sites with below market rents and short term leases.

For more information, contact Joe Wissman, Wissman Commercial Real Estate, 23439 Michigan Avenue, Suite 3W, Dearborn, MI 48124; 313-561-1900, Fax 313-561-1903; Email: propone@ix.netcom.com.

KLNB Retail brokered the sale of McLearen Square, a 78,032 sq.ft. strip center in Herndon, VA for $11.5 million. Sun Life Assurance Co. sold the property to First Allied Corp. The center is located at the intersection of McLearen Road and Centreville Road and is 100% leased. Tenants include Food Lion, CVS and Texaco. Area demographics include 62,000 households within five miles earning $92,000 as the average income.

For more information, contact Devin Corini, KLNB Retail, 1320 Old Chain Bridge Road, Suite 350, McLean, VA 22101; 703-288-4000, Fax 703-288-2999.

CB Richard Ellis represented both buyer and seller in the sale of Towne Centre North, a 30,000 sq.ft. center at the intersection of Cherry and Willow in Signal Hill, CA for $5.3 million. The site is situated on a land area of 2.85 acres. The center is 100% occupied by its four original tenants, including OfficeMax, Del Taco, Togo’s and Cingular Wireless. Towne Centre North is part of the 480,000 sq.ft. Signal Hill Town Centre, which includes such retailers as Costco, Home Depot, Food4Less and PetsMart. The buyer was Sydney Family Trust, while the seller was Rich Development Co.

For more information, contact Richard Rizika, CB Richard Ellis, 990 West 190th Street, Suite 100, Torrance, CA 90502; 310-516-2338, Fax 310-516-2310; Web site: www.cbre.com.

Baars Realty is selling five net leased Dollar General Stores throughout FL that are slated for completion during the Spring or Summer. The locations range in size from 8,000 sq.ft. to 9,100 sq.ft. and have terms of 10 years with three five-year options and 10% bumps. The price range for the sites is between $432,000 and $689,000 with a Cap rate of 9.25%. The tenant will reimburse for property taxes and insurance and will pay for CAM with the following stipulations: parking lot maintenance capped at $166.67 per month and repair of fixtures and equipment capped at $1,000 occurrence.

For more information, contact Fred Gunther, Baars Realty, 221 South Baylen Street, Pensacola, FL 32501; 850-432-9944, Fax 850-438-2350.

NAI MLG Commercial Real Estate Services is selling or leasing the following Roundy’s restaurant properties at the following sites throughout WI: a 43,755 sq.ft. site at 406 Highway 64 East in Antigo; 31,134 sq.ft. at 1513 North Spring Drive in Beaver Dam; 16.8 acres at 5400 52nd Street in Kenosha; 61,619 sq.ft. at 801 West Layton Avenue in Milwaukee; 24,235 sq.ft. at 360 East Capitol Drive in Milwaukee; 66,197 sq.ft. at 1425 South Commercial Street in Neenah; 65,697 sq.ft. at 828 Fox Point Plaza in Neenah; 55,844 sq.ft. at 2551 Jackson Street; and 12 acres at West Murdock Avenue. The company is selling or leasing the following Roundy’s restaurant properties throughout MI: 18,884 sq.ft. at 802 North Michigan Avenue in Cadillac; 36,317 sq.ft. at 6600 M66 North at Charlevoix; 42,434 sq.ft. at 1425 West Main Street in Gaylord; 35,285 sq.ft. at 1860 Stephenson in Iron Mountain; 37,522 sq.ft. at 4532 West U.S. 10 at Ludington; 236,102 sq.ft. at 1764 Creston Street in Muskegon; 15,305 sq.ft. at 111 East Exchange Street; 35,205 sq.ft. at 2205 South U.S. 26 St. John’s. The company also is selling a Roundy’s restaurant on a land area of 11.3 acres at Dring Park Road in Wellston, OH.

For more information, contact Bruce Westling, NAI MLG Commercial Real Estate Services, 13400 Bishop’s Lane, Suite 100, Brookfield, WI 53005; 262-797-9940 Ext. 1116, Fax 262-797-8940; Web site: www.mlgcommercial.com.

Upland Real Estate Group is selling the following KinderCare locations: sites in CT, DE, GA, IA, IL, MA, MD, MN, MO, NE, NJ, OH, PA, TX and VA with Cap rates of 7.80% and 15-year terms. The sites have four, five-year options with increases up to 8% every five years.

For more information, contact Keith Sturm, Michael Houge or Deborah Vannelli, Upland Real Estate Group, Inc., 250 Marquette Avenue, Suite 575, Minneapolis, MN 55401; Email: info@upland.com; Web site: www.nnnsales.com; 612-332-6600, Fax 612-376-4489.

Green Realty Co. is representing a client looking to acquire a Blockbuster Video in any area of the U.S. The client prefers a fairly new lease.

For more information, contact Michael Green, Green Realty Co., LLC, 1020 North Broadway, Milwaukee, WI 53202; 414-431-3700.

Rubin Management, Inc. is representing a 1031 client seeking infill locations with strong residual aspects. The client would buy short term below market.

For more information, contact Bill Buffington, Rubin Management, Inc., 15500 Roosevelt Boulevard, Suite 301, Clearwater, FL 33760; 727-530-0021 Ext. 233.