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Buyers & Sellers
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Buyers & Sellers Neal Realty & Investments, Inc. sold The Benenson Building located at 201 Andrew Avenue in Fort Lauderdale, FL to Segovia Holdings, LLC. The 20,000 sq.ft. office/retail building was sold for $2.2 million. For more information, contact David Behar, Neal Realty & Investments, 3300 North Federal Highway, Suite 250, Fort Lauderdale, FL 33306; 954-568-0530, Fax 954-568-2134; Email: info@nealrealty.net; Web site: www.nealrealty.net.
CB Richard Ellis, Inc. represented RMS Properties in the acquisition of County Square, a 151,430 sq.ft. center located on North State Road 7 in North Miami, FL from Copana Center, Inc. The company also negotiated the sale of an Albertsons-anchored center located in Lake Havasu City, AZ. The 46,000 sq.ft. center, located at the intersection of McCulloch Boulevard and Smoketree Avenue, sold for $4.2 million. Cotenants include Black Bear Diner and Nationwide Homes. The company also negotiated the sale of Valley Fair Shopping Center located at the intersection of Southern and Mill Avenues in Tempe, AZ for $10.4 million. The buyer was Ethan Christopher Valley Fair, LLC and the seller was Carlson Real Estate. The 90,862 sq.ft. center was 97% occupied at the time of the sale. Tenants include L.A. Fitness and Popular Outdoor Outfitters. The company also is selling a 10,010 sq.ft. center located at 38-40 Centerpointe in La Palma, CA. The center is tenanted by four small shops and one restaurant on NNN leases. Area demographics include a population of 220,080 within three miles earning $70,653 as the average household income. For more information, contact Diana Perez, CB Richard Ellis, Inc., 5355 Town Center Road, Suite 701; 561-393-1692 or 561-394-2100, Fax 561-393-1650; Web site: www.cbre.com. For more information regarding the Albertsons-anchored center and Valley Fair Shopping Center, contact Katherine Haug, CB Richard Ellis, Inc., 2415 East Camelback Road, Phoenix, AZ 85016-4290; 602-735-1782, Fax 602-735-5655; Email: katherine.haug@cbre.com. For more information regarding the center in La Palma, CA, contact Philip D. Voorhees, CB Richard Ellis, Inc., 3501 Jamboree Road, Suite 100, Newport Beach, CA 92660; 949-725-8521, Fax 949-725-8545.
First Allied Corp. acquired Orchid Centre, located on Eldorado Parkway, just one mile west of Interstate 75 between The Ranch and Eldorado Country Clubs in McKinney, TX. Tenants include Pizza Hut, The UPS Store, Dos Charros Mexican Restaurant and Wilson Title Company. For more information, contact First Allied Corp., 9601 Wilshire Boulevard, Suite 744, Beverly Hills, CA 90210; 310-275-8909, Fax 310-275-8995; Web site: www.firstalliedcorp.com.
NAI Olympia Partners represented the seller, Brooks Investment Co., Inc., in the sale of a 19,346 sq.ft. center located at 565 East Main Street in Danville, IN. The sale includes a land area of 3.5 acres. For more information, contact Maria Stein, NAI Olympia Partners, 320 North Meridian Street, Suite 700, Indianapolis, IN 46204; 317-264-9400, Fax 317-264-9406; Email: mstein@naiolympia.com.
Edgemark Commercial Real Estate Services, LLC arranged the sale of a 20,000 sq.ft. retail building located at 2900 Colorado Boulevard in Joliet, IL. The one-story, freestanding site is situated on a land area of 80,000 sq.ft. and was sold for an undisclosed sum. Area retail includes the Louis Joliet Mall. Edgemark represented the seller, Brauvin Corp. Lease Program IV LLC. The buyer was 2900 Colorado Avenue LLC. The center will be tenanted by a 13,000 sq.ft. Deals Nothing Over a Dollar store, while the remaining 7,000 sq.ft. will be divided and leased out by the new owner. For more information, contact Edgemark Commercial Real Estate Services, LLC, 2215 York Rd., Suite 503, Oak Brook, IL 60523; 630-472-1010; Web site: www.edgemarkllc.com.
New England Retail Properties, Inc. sold Best Buy Plaza, a center located on Route 5 in Wallingford, CT for $3.6 million. The 41,000 sq.ft. center sold to JMM Properties, LLC. For more information, contact Matthew J. Halprin, New England Retail Properties, Inc., 1160 Silas Deane Highway, Wethersfield, CT 06109; 860-529-9000, Fax 860-563-9667; Email: halprinm@newenglandretail.com; Web site: www.newenglandretail.com.
Grubb & Ellis Co. is selling Dynasty Center located on North Broadway Boulevard in Los Angeles, CA for $25 million. The building is located in the Chinatown section and is 100% occupied. For more information, contact Tom J. Lagos, Elizabeth Minihane or Ken McLeod, Grubb & Ellis Co., 1100 Glendon Avenue, Suite 900, Los Angeles, CA 90024; 310-235-2936/2950/2921; Emails: tom.lagos@grubb-ellis.com, elizabeth.minihane@grubb-ellis.com and ken.mcleod@grubb-ellis.com; Web site: www.grubb-ellis.com.
Kamin Realty, LLC acquired 10 properties for $42 million. The properties are net leased to Circuit City, Eckerd, Kmart, Rite-Aid and Walgreens. The company acquires net leased, retail properties nationwide. For more information, contact Howard Kadish, Kamin Realty, LLC, 575 Madison Avenue, 10th Floor, New York, NY 10022; 212-605-0191; Email: kaminre@yahoo.com.
Robert E. Bunn & Associates is looking to acquire convenience stores located throughout the Midwest. For more information, contact Robert E. Bunn, Robert E. Bunn & Associates, 1427 Thomas Drive, Suite 4, Cape Girardeau, MO 63701-2129; 573-651-6014, Fax 573-651-6014; Email: rbunn@igateway.net.
Next Realty, LLC acquired South Hill Plaza, a center located near the intersection of Rochester Road and Avon Road in Rochester Hills, MI. The center is 96.5% occupied and includes local and national tenants. The site has an average daily traffic count of 45,000 vehicles. Area demographics include a population of 60,502 within three miles earning $91,004 as the average household income. Next Realty is looking to acquire well-located centers, retail land and parking structures to add to its portfolio. The company considers all potential acquisitions up to $25 million. For more information, contact David Worth or Marc Blum, Next Realty, LLC, Two Northfield Plaza, Suite 320, Northfield, IL 60093; 847-501-6190; Emails: dworth@nextrealty.com and mblum@nextrealty.com; Web site: www.nextrealty.com.
Nederland Economic Development Corp. is selling two sites located in Nederland, TX. The first property is situated on a land area of 50 acres. The second property is a former Wal*Mart and is situated on a land area of 12 acres. Area retail includes Target, JCPenney, Dillard’s, Sears, Lowe’s Home Improvement, Wal*Mart Supercenter, Office Depot, H.E.B. Supercenter and Academy Sporting Goods. For more information, contact Nederland Economic Development Corp., 1903 Atlanta, PO Box 1325, Nederland, TX 77627; 409-729-1020, Fax 409-729-1953; Web site: www.nededc.com.
The Kempner Corp. is looking to acquire properties throughout the Northeast. The company considers anchored and neighborhood centers and freestanding sites of all sizes. The company also will pursue stabilized and/or redevelopment opportunities. For more information, contact Peter or Jim Kempner, The Kempner Corp., 257 Mamaroneck Avenue, White Plains, NY 10605; 914-946-3030, Fax 914-946-9030.
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