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Buyers & Sellers
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Buyers & Sellers Syndicated Equities Corp. is seeking outright acquisitions as well as joint venture opportunities with developers/owners who wish to maintain ownership/management interests in existing single and multi-tenant credit properties nationwide. The company acquires sites with long-term leases from $5 million to $100 million. For more information, contact Russell Brenner or Jill Sickle, Syndicated Equities Corp., 1345 North Wells Street, Chicago, IL 60610; 312-640-9020 or 888-SEC-1031; Web site: www.syndicatedequities.com.
Marcus & Millichap Real Estate Investment Brokerage Co. is selling a Big Kmart site located at the intersection of Oriana Road and Warwick Boulevard in Newport News, VA for $3 million with a Cap rate of 9.4%. For more information, contact Marcus & Millichap Real Estate Investment Brokerage Co., 5900 North Andrews Avenue, Suite 100, Fort Lauderdale, FL 33309; 954-463-2400, Fax 954-463-9222; Web site: www.marcusmillichap.com.
Rein & Grossoehme sold a 3,000 sq.ft. single-tenant building occupied by Jack In The Box at 3502 West Buckeye Road in Phoenix, AZ to an investor for $495,000. For more information, contact Jerry Roberts, Rein & Grossoehme, 3900 East Camelback Road, Suite 408 North, Phoenix, AZ 85018; 602-954-0717, Fax 602-954-7001.
Finard & Co. is selling a property located on Maple Avenue in Claremont, NH. The existing property improvements consist of three attached buildings totaling 67,742 sq.ft. Area demographics include a population of 42,062 within 10 miles earning $48,959 as the average household income. For more information, contact Nick Herz, Finard & Co., LLC, One Burlington Woods Drive, Burlington, MA 01803; 781-273-5555, Fax 781-229-2823; Web site: www.finard.com.
ECHO Real Estate Services is selling a 4,800 sq.ft. site located at the intersection of Route 48 and Route 30 in North Versailles, PA for $350,000. The site has an average daily traffic count of 74,000 vehicles. For more information, contact ECHO Real Estate Services, 701 Alpha Drive, Pittsburgh, PA 15238; 412-968-1660; Web site: www.echodevelopers.com.
Staubach Retail Services is selling excess land adjacent to Rolling Oaks Mall located at the intersection of Loop 1604 and Nacogdoches in San Antonio, TX for $2.2 million. The site is situated on a land area of 7.8 acres and has an average daily traffic count of 77,700 vehicles. Area demographics include a population of 116,745 within five miles earning $59,935 as the average household income. The company also is selling outparcels to Northwest Mall located at the intersection of Loop 610 and Highway 290 in Houston, TX. The site has an average daily traffic count of 554,000 vehicles. Area demographics include a population of 355,076 within five miles earning $50,723 as the average household income. For more information, contact Adam Schiller or Brian Murphy, Staubach Retail Services, 15601 Dallas Parkway, Suite 400, Addison, TX 75001; 972-361-5075; Emails: adam.schiller@staubach.com and brian.murphy@staubach.com. Or contact, Will Ochse, Wm. Ochse Real Estate, 210-646-8811 Ext. 57.
Reliable Properties is looking to acquire shopping centers or retail stores throughout southern CA. The company prefers older centers, large stores needing rehab, closed stores, excess properties, redevelopment properties and mixed-use properties from 10,000 sq.ft. to 350,000 sq.ft. For more information, contact Reliable Properties, 6399 Wilshire Boulevard, Suite 604, Los Angeles, CA 90048-5709; 323-653-3777, Fax 323-651-4011.
Retail Capital Group, LLC acquired Widewater Square, a 108,017 sq.ft. Bi-Lo-anchored center, and Northway Plaza, a 79,413 sq.ft. Food-Lion anchored center in Columbia, SC for approximately $8.3 million. For more information, contact Mike McMillen, Retail Capital Group, LLC, 2970 Peachtree Road, Suite 345, Atlanta GA 30305; 404-816-5454, Fax 404-816-5445.
CB Richard Ellis, Inc. is selling Mercado Del Sol, a 29,891 sq.ft. center located at the intersection of Rainbow Boulevard and Charleston Boulevard in Las Vegas, NV for $6.5 million. The center is tenanted by The Honeybaked Ham Co., SuperPawn and Blue Haven Pools and is currently 97% leased. The site has an average daily traffic count of 58,000 vehicles. Area demographics include a population of 197,190 within three miles earning $61,198 as the average household income. The center is situated on a land area of 3.03 acres. The company also is selling Seagull Park, a 30,906 sq.ft. center located on Bonanza Road just west of Nellis Boulevard in Las Vegas, NV for $5 million. The center is currently 94.11% occupied and is situated on a land area of 3.17 acres. The site has an average daily traffic count of 24,000 vehicles. Area demographics include a population of 225,000 within three miles. 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. For more information regarding Mercado Del Sol and Seagull Park, contact CB Richard Ellis, Inc., 3993 Howard Hughes Parkway, Suite 700, Las Vegas, NV 89109; 702-369-4800, Fax 702-369-4904; Email: pcglv@cbre.com; Web site: www.pcglistings.com. For more information regarding Valley Fair, 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.
Ludwig & Seeley, Inc. represented Lowe’s Home Improvement in the acquisition of 15 acres in White Lake, MI. For more information, contact Max Goldman, Ludwig & Seeley, Inc. Real Estate, 31555 West 14 Mile, Suite 100, Farmington Hills, MI 48334; 248-539-1700, Fax 248-539-3776; Web site: www.ludwigseeley.com.
Long & Foster Commercial is representing an investor looking to acquire net leased convenience stores with gas pumps throughout FL, MD and VA. The investor prefers Circle K, 7-Eleven, WaWa or other strong credit tenants. For more information, contact Henry Hanna, Long & Foster Commercial, 8227 Old Courthouse Road, Suite 200, Vienna, VA 22182; 443-523-1351; Web site: www.longandfostercommercial.com.
Wilcox Capital Partners is selling a 120,000 sq.ft. Sack N Save-anchored center in the Dallas, TX area. The center is 87% leased and has a Cap rate of 9.25%. For more information, contact Kevin Broz, Wilcox Capital Partners, 14001 Dallas Parkway, Suite 1111, Dallas, TX 75240; 972-759-7747, Fax 972-759-7947.
Colonial Properties Trust acquired a majority interest in the Village on the Parkway lifestyle center located at the intersection of Beltline Road and the Dallas North Tollway in Addison, TX. The 380,000 sq.ft. open-air center is 94% occupied and anchored by a 127,500 sq.ft. Bed Bath & Beyond. Cotenants include 24 Hour Fitness, Fitz & Floyd, T.G.I. Friday’s and Blue Mesa Grill. For more information, contact Sandra Lee Robertson, Colonial Properties Trust, 2101 6th Avenue North, Suite 750, Birmingham, AL 35203; 205-250-8788; Web site: www.colonialprop.com.
The Taubman Co. acquired an additional 23.6% interest in International Plaza in Tampa, FL from Ivanhoe Cambridge, increasing its ownership in the center to 50.1%. The remaining interests are owned by Concorde Cos. The $104.5 million price for the acquisition consists of $60.2 million of cash and $44.3 million of beneficial interest in debt attributable to the interest. The Cap rate is 6.4%. For more information, contact The Taubman Co., 200 East Long Lake Road, Suite 300 Bloomfield Hills, MI 48303-0200; 248-258-6800, Fax 248-258-7596; Web site: www.taubman.com.
Sperry Van Ness is selling Northgate Shopping Center, a 238,816 sq.ft. center located at the intersection of Route 31 and the East-West Tollway in Aurora, IL. The property includes six buildings plus four available pads for mixed-use retail/office development. The center is situated on a land area of 19 acres and is 66% occupied. Tenants include Office Depot, Hertz, Harbor Freight Tools and Fashion Bug. The asking price is $13.9 million. For more information, contact Joseph C. French Jr. or Thomas C. Dalzell, Sperry Van Ness, 50 Main Street, Suite 1000, White Plains, NY 10106; 914-682-2169; Email: tom.dalzell@svn.com.
Advantis Investment Services Group is marketing a 14,560 sq.ft. Walgreens in Grayson, GA for $5.94 million. The building is situated on a land area of 2.28 acres, while the lease term is for 25 years. For more information, contact Brad C. Luger, Advantis Investment Services Group, 4300 West Cypress Street, Suite 1000, Tampa, FL 33607; 813-342-4707/4701, Fax 813-342-4015; Emails: bluger@advantisgva.com and lrandolph@advantisgva.com.
C.A. White, Inc. is representing an investor looking to acquire property that meets the following criteria: anchored shopping centers with 80% credit tenants; stable and growth markets only; long-term leases; single tenants NNN preferred. Other property types will be considered if there are long-term leases and credit tenants. For more information, contact Frank M. Micali, C.A. White, Inc., 1211 Chapel Street, New Haven, CT 06511; 203-777-6891, Fax 203-777-6655; Email: frank@cawhite.com; Web site: www.cawhite.com.
Kite Development is selling outparcels totaling 2.35 acres located at the intersection of Interstate 95 and State Route 50 in Titusville, FL. Area retail includes Lowe’s Home Improvement. Area demographics include a population of 93,393 within 10 miles earning $54,648 as the average household income. For more information, contact Gregg Poetz, Kite Development, 30 South Meridian Street, Suite 1100, Indianpolis, IN 46204; 317-578-5153, Fax 317-577-5605; Email: gpoetz@kiteco.com; Web site: www.kiteco.com.
Maestas & Ward Commercial Real Estate is selling three acres of vacant land located at the intersection of Interstate 25 and State Road 6 in Los Lunas, NM. The asking price is $11 psf. Area demographics include a population of 49,774 within 10 miles earning $40,304 as the average household income. For more information, contact Michele Genrich, Maestas & Ward Commercial Real Estate, 7620 Jefferson NE, Albuquerque, NM 87109; 505-878-0001, Fax 505-878-0002; Email: michele@maestasandward.com; Web site: www.maestasandward.com.
NAI Kowallis & Mackey is selling Teton River Village, a center located at 485 North 2nd East in Rexburg, ID for $4.3 million. The building is 18,571 sq.ft. and is located near a Wal*Mart. Tenants include Quizno’s, Blockbuster Video, Cold Stone Creamery, Deseret Book, American Family Insurance, UPS, T-Mobile, Cash Store, U.S. Cellular and Jensen Jewelers. For more information, contact Doug Kowallis or John Mackey, NAI Kowallis & Mackey, 409 West Idaho, Boise, ID 83702; 208-385-9876, Fax 208-385-9883; Email: info@investinidaho.com; Web site: www.investinidaho.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, LLC2215 York Rd., Suite 503, Oak Brook, IL 60523; 630-472-1010; Web site: www.edgemarkllc.com.
Cypress Equities is selling a former 60,000 sq.ft. Rainbow Foods located at 5000 Main Street in The Colony, TX. The site situated on a land area of 6.138 acres. For more information, contact Caroline Summers, Cypress Equities, 15601 Dallas Parkway, Suite 400, Addison, TX 75001; 972-361-5059, Fax 972-361-5928; Email: caroline.summers@staubach.com. |