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Buyers & Sellers
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Buyers & Sellers Marcus & Millichap Real Estate Investment Brokerage Co. has been retained as the exclusive marketing representative in the disposition of The Plaza at Sawmill Place, a 194,760 sq.ft. center located in Columbus, OH. The center is tenanted by Circuit City, Blockbuster Video, Hobby Lobby, Starbucks, Trek Bikes and the Ohio Savings Bank. There is also additional land available to build approximately 20,400 sq.ft. of additional space. Marcus & Millichap Real Estate Investment Brokerage Co. of Detroit has been retained as the exclusive marketing representative in the disposition of the 194,760 sq.ft. center located on Sawmill Road in Columbus, OH. Tenants include Circuit City, Blockbuster Video, Hobby Lobby, Starbucks, Trek Bikes and Ohio Savings Bank. In addition to the existing shopping center, there is additional land available to build approximately 20,400 sq.ft. Area demographics include a population earning $65,000 as the average household income. For more information, contact William T. O’Connor, Marcus & Millichap Real Estate Investment Brokerage Co., One Northwestern Plaza, 28411 Northwestern Highway, Suite 750, Southfield, MI 48034; 248-352-5050, Fax 248-352-3813.
Advantis Investment Services Group/GVA is selling a 14,560 sq.ft. Walgreens and 2,800 sq.ft. of retail shops in Grayson, GA for $5.94 million. The building is situated on a land area of 2.28 acres. Area demographics include a population of 108,408 within five miles earning $79,530 as the average household income. For more information, contact Brad C. Luger, Advantis Investment Services Group/GVA, 4300 West Cypress Street, Suite 1000, Tampa, FL 33607; 813-342-4707, Fax 813-342-4015; Email: bluger@advantisgva.com.
Breslin Realty, Inc. represented Safavieh Carpet, Inc. in the acquisition of 1170 Northern Boulevard in Manhasset, NY from Reckson Operating Partnership, L.P. Safavieh sells imported carpets and furniture. For more information, contact Beth Lamport, Breslin Realty, Inc., 500 Old Country Road, Garden City, NY 11530; 516-741-7400 Ext. 248, Fax 516-741-5621.
Upland Real Estate Group, Inc. sold the following two Buffalo Wild Wings properties: a 5,100 sq.ft. location in Lithonia, GA for $2.3 million and a 5,350 sq.ft. location in Olive Branch, MS for $1.8 million. For more information, contact Brier E. Swing, Upland Real Estate Group, Inc., 250 Marquette Avenue, Suite 575, Minneapolis, MN 55401; 612-335-9366, Fax 612-376-4489l Email: brier@upland.com; Web site: www.nnnsales.com.
Cohen & Co., Inc. Real Estate closed on an unanchored center located on The Post Road in Orange, CT. Firelite Shopping Center, a 55,000 sq.ft. center, has 30 tenants and five buildings comprised of one two-story office building, two multi-tenant retail buildings and two freestanding single tenanted retail buildings. One building is occupied by Curves For Women and the other by Prime Bank. For more information, contact Vera Thomas, Cohen & Co., Inc. Real Estate, 11 East 44th Street, New York, NY 10017; 212-679-1222, Fax 212-679-1533; Web site: www.cohenco.com.
Fameco Real Estate represented the owner of Colonial Commons, Freedman Cohen Development, LLC, in the sale of 500,000 sq.ft. center located in Harrisburg, PA to Heritage Property Investment Trust. The center is tenanted by Giant Foods, Dick’s Sporting Goods, LA Fitness, Marshalls, OfficeMax, Linens ‘N Things, T.J. Maxx, Guitar Center, Ross Dress For Less, AMC Movie Theaters and a state liquor store. For more information, contact Diane Weinberg, Fameco Real Estate, 15 East Ridge Pike, Suite 100, Conshohocken, PA 19428; 610-834-8000, Fax 610-834-1793; Web site: www.famecoretail.com.
Suburban Capital Markets, Inc. acquired the South Towne Mall in Monona, WI. The 102,634 sq.ft. center is situated on a land area of 5.882 acres. The property consists of four components, including inline space, which is shadow-anchored by Kohl’s and Shopko; a strip center outparcel and two additional single tenant outparcels occupied by Radio Shack and West Marine. Anchor tenants include Marcus Theatres, Hobby Lobby and Famous Footwear. The property is located at 2305-2355 West Broadway Street. For more information, contact Richard La Vay or Deidre Proffitt, Suburban Capital Markets, Inc., 11 North Washington Street, Suite 230, Rockville, MD 20850; 301-340-2266, Fax 301-340-9242; Web site: www.suburbancapital.com.
Millennium Properties, Inc. sold three net-leased transactions throughout the Midwest. Sales included a ground lease with McDonald’s in Davenport, IA. The transaction had a Cap rate of 6.5% and was for an outlot in the redeveloped Duck Creek Shopping Center. The company also sold a Walgreens in Cleveland, OH with a Cap rate of 7% and a 40,200 sq.ft. center in St. Charles, IL with a Cap rate of 7%. For more information, contact Daniel J. Hyman, Millennium Properties, Inc., 2 First National Plaza, 20 South Clark, Suite 630, Chicago, IL 60606; 312-338-3003, Fax 312-338-3008; Web site: www.mpirealestate.com.
Royal Properties, Inc. is selling a freestanding Duane Reade pharmacy located at the intersection of McLean Avenue, Courter Street and Peltan Street in Yonkers, NY for $4.575 million. Area demographics include a population of 1,071,146 within five miles earning $56,361 as the average household income. For more information, contact Jeff Kintzer, Royal Properties, Inc., 850 Bronx River Road, Suite 106, Bronxville, NY 10708; 914-237-3403, Fax 914-237-0196; Email: jskroyal@aol.com; Web site: www.royalpropertiesinc.com.
CB Richard Ellis, Inc. represented New Glenbrook Associates in the sale of Glenbrook Commons, a center located at 4122 Lima Street in Fort Wayne, IN to an affiliate of Hutensky Capital Partners, LLC for $18.25 million. The 254,154 sq.ft. center is tenanted by Toys “R” Us, Linens ‘N Things, MC Sports and Leath Furniture. For more information, contact Starr Argyrakis, CB Richard Ellis, Inc., 311 South Wacker Drive, Suite 400, Chicago, IL 60606; 312-935-1029, Fax 312-935-1880; Email: starr.argyrakis@cbre.com; Web site: www.cbre.com.
Baum Realty Group, Inc. arranged the sale of a 7,445 sq.ft. multi-tenant retail building located at 1001 West Madison Street at the corner of Morgan Street in Chicago, IL. The center is 100% leased and is anchored by Blockbuster Video, Pockets and Starbucks. It was acquired by a local investor from a local developer for $2.3 million. For more information, contact Baum Realty Group, Inc., 1030 West Chicago Avenue, Suite 300, Chicago, IL 60622; 312-666-3000, Fax 312-666-7970; Web site: www.baumrealty.com.
Inland Real Estate Auctions, Inc. is selling Stonewall Shopping Center, a 78,900 sq.ft. center located at 3101 Clays Mill Road in Lexington, KY for $4 million. The center is anchored by Integra Bank, Rite Aid, Furniture Source, Edward Jones, American General and Domino’s Pizza. The center is 98% occupied. For more information, contact Jim Blanchard, Inland Real Estate Auctions, Inc., 2901 Butterfield Road, Oak Brook, IL 60523; 866-825-4321, Fax 630-218-4901; Email: jblanchard@inlandgroup.com; Web site: www.inlandreauctions.com. |