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Buyers & Sellers
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Buyers & Sellers Commercial One Realtors is selling land areas of six acres and 2.8 acres on Route 23 in Delaware, OH. The company also is selling eight acres of commercial, retail and service outlots from an original 42 acres on Route 36-37 in Delaware. Both sites have average daily traffic count of 40,000 vehicles and both sites are priced between $200,000 and $300,000. For more information, contact Chris Powell or Jim Miller, Commercial One Realtors, 1515 Bethel Road, Columbus, OH 43220; 614-451-5100, Fax 614-451-9943; Email: jmiller@c1realty.com; Web site: www.c1realty.com.
CB Richard Ellis, Inc. represented Juniata Square Limited Liability Corp. in the sale of the Juniata Square Shopping Center, a 34,500 sq.ft. center located in Philadelphia, PA to Plaza Americana, Inc. The center was sold for $2.38 million. The center is tenanted by Blockbuster Video, Rent Rite and H&R Block. For more information, contact Andrew Rudzinski, CB Richard Ellis, Inc., 1800 John F. Kennedy Boulevard, Philadelphia, PA 19103; 215-561-8915, Fax 215-557-6719; Web site: www.cbre.com.
A.F.S. International Realty is looking to acquire two centers nationwide with a Cap rate over 8.5%; office buildings nationwide with a Cap rate over 9% and multi-family properties throughout NY with at least over 50 units. For more information, contact David Schatzkamer, A.F.S. International Realty, 760 Montgomery Street, Apartment 1E, Brooklyn, NY 11213; 718-715-9402; Email: mortgagedave23@aol.com.
IMFM, Inc. is looking to acquire sites nationwide from $10 million to $100 million. The company is looking to acquire all types of property from malls to raw land. The property must have no mortgage. For more information, contact Glenn Rogers, IMFM, Inc., 151 East 24th Street, Suite 102, Sanford, FL 32771; 407-432-1900, Fax 407-322-3683; Email: imfmltd@aol.com.
Marcus & Millichap Real Estate Investment Brokerage Co. sold Sawgrass Circuit City Shopping Center located on Sunrise Boulevard in Fort Lauderdale, FL for $15 million with a Cap rate of 7.34%. Area retail includes Sawgrass Mills Shopping Complex. The sale includes 57,000 rentable sq.ft. on a land area of 7.76 acres. Tenants include Circuit City, Jared Jewelers and Quarterdeck Restaurant. 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.
Grubb & Ellis Co. – Houston represented Weingarten Realty Investors in the sale of Parkway Square Shopping Center, a 156,520 sq.ft. center located at the intersection of Texas Avenue South and Southwest Parkway in College Station, TX. The center was 99% leased at the time and is anchored by a 44,455 sq.ft. Kroger supermarket. Cotenants include Stein Mart, King Dollar, Harbor Freight Tools, Half Price Books and Super Buffet Chinese Restaurant. The company also represented Westlake Plaza, L.P. in the sale of Westlake Atascocita Shopping Center, a 25,136 sq.ft. center located at the intersection of West Lake Houston Parkway and FM 1960 in Houston, TX. The center is 100% leased and is tenanted by Whataburger and a freestanding Blockbuster Video store. The company also represented Founders Lakeside, LLC in the sale of Lakeside Village Shopping Center, a 77,467 sq.ft. center located adjacent to the northeast corner of Westheimer and Wilcrest Drive in Houston, TX. The center is 100% leased, is situated on a land area of 5.5081 acres and is anchored by a Office Depot, Dollar Tree and Lenscrafters. For more information, contact George Cushing, Grubb & Ellis Co. – Houston, 1330 Post Oak Boulevard, Suite 1400, Houston, TX 77056-3017; 713-626-8888, Fax 713-626-2288; Email: george.cushing@grubb-ellis.com; Web site: www.grubb-ellis.com.
Columbus Commercial Realty - Cushman & Wakefield Alliance is selling a 16,916 sq.ft. center located in Columbus, OH for $3.925 million with a Cap rate of 8.22%. Area retail includes Home Depot, Kohl’s and Meijers. For more information, contact Kevin T. James, Columbus Commercial Realty - Cushman & Wakefield Alliance, 300 East Broad Street, Suite 500, Columbus, OH 43215; 614-280-4817, Fax 614-233-5917; Web site: www.ccrcw.com.
NAI Alan R. Daus and Associates is selling a Giant Eagle-anchored 88,961 sq.ft. center located in Berea, OH for $8.35 million. For more information, contact Ronald Markowitz, NAI Alan R. Daus and Associates, 3401 Enterprise Parkway, Suite 105, Beachwood, OH 44122; 216-831-3310 Ext. 127, Fax 216-831-9869; Email: rmarkowitz@alanrdaus.com.
Retail Rep is selling a land area of 3.57 acres at the intersection of Aversboro and Timber in Garner, NC. The site has an average daily traffic count of 20,000 vehicles. Asking rent is $12.50 psf. Area retail includes CVS and Lowes Foods. For more information, contact Retail Rep, 1135 Kildaire Farm Road, Suite 200, Cary, NC 27511; 919-674-2000, Fax 919-674-2015; Web site: www.retail-rep.com.
Green Realty Co., LLC is representing a 1031 buyer for an Advanced Auto Parts store. The store must have a new 15-year lease and range in price from $1 million to $1.2 million. For more information, contact Michael L. Green, Green Realty Co., LLC, 1020 North Broadway, Milwaukee, WI 53202; 414-431-3700; Email: mgreen@nnnbroker.com.
Spectrum Realty Advisors is representing Limik L.P. in the sale of Marietta Square, a 57,950 sq.ft., Food Lion-anchored center located in Jacksonville, FL. The company also is representing The Sembler Co. in the sale of Publix at Shakerag, a 77,913 sq.ft. center located in Suwanee, GA. For more information, contact Joe Montgomery, Tony D’Ambrosio or Jon Barry, Spectrum Realty Advisors, 5871 Glenridge Drive, Suite 400, Atlanta, GA 30328; 404-252-2288, Fax 404-252-8666.
Windsor Aughtry Co. is selling a land area of 237 acres at the intersection of Old Buncombe Road and Highway 253 in Greenville, SC. The space was formerly occupied by a U.S. Finishing Plant. For more information, contact E.F. Dupree Jr. or Bill Fayssoux, Windsor Aughtry Co., PO Box 16449, Greenville, SC 29606-7449; 864-271-9855; Email: ddupree@windsor-aughtry.com and bfayssoux@windsor-aughtry.com.
Inland Western Retail Real Estate Trust, Inc. acquired Placentia Town Center, a center located at the intersection of Yorba Linda and Kramer Boulevards in Placentia, CA for $24.9 million. Inland acquired 110,962 sq.ft. of the existing 142,666 sq.ft. center, which is anchored by Ross Dress For Less, OfficeMax, Bank Of America, Baskin Robbins, Bagel Me and Wok Experience. The seller was Donahue Schriber Realty Group. For more information, contact Inland Western Retail Real Estate Trust, Inc., 2901 Butterfield Road, Oak Brook, IL 60523; 630-218-8000; Web site: www.inlandgroup.com.
CORE Realty Holdings, LLC is looking to acquire multi-tenant retail, office, multi-family and industrial properties throughout the western and midwestern U.S. from $5 million to $40 million. The retail sites must be anchored by supermarkets and have a GLA of at least 80,000 rentable sq.ft. For more information, contact Sterling McGregor, CORE Realty Holdings, LLC, 1600 Dove Street, Suite 200, Newport Beach, CA 92660; 949-863-1031, Fax 949-863-1022; Web site: www.corerealtyholdings.com.
Stan Johnson Co. is selling a Rite Aid located at the intersection of Staring Lane and Perkins Road in Baton Rouge, LA for $3.595 million with a Cap rate of 7.25%. The store has a lease of 20 years with eight, five-year options. The site has an average daily traffic count of 55,000 vehicles. Area demographics include a population within three miles earning $74,663 as the average household income. For more information, contact Jeff Matulis or Ryan Carter, Stan Johnson Co., Two Warren Place, 6120 South Yale Avenue, Suite 813, Tulsa, OK 74136; 918-494-2690, Fax 918-494-2692; Emails: jmatulis@stanjohnsonco.com and rcarter@stanjohnsonco.com.
The Mills Corp. acquired the following two malls from Blackstone Real Estate Investors and Polaris Capital for $452 million: Southdale Center, a 1.3 million sq.ft. center in Minneapolis, MN and Southridge Mall, a 1.2 million sq.ft. center in Milwaukee, WI. For more information, contact The Mills Corp., 1300 Wilson Boulevard, Suite 400, Arlington, VA 22209; 703-526-5000, Fax 703-526-5111; Web site: www.millscorp.com.
Ramco-Gershenson Properties Trust closed on the acquisition of Village of Oriole Plaza, a 155,752 sq.ft. center located at the intersection of Hagen Ranch Road and Atlantic Avenue in Delray Beach, FL. The center was acquired in a joint venture with Clarion Lion Properties Fund. The center is 100% leased and is anchored by Publix and is tenanted by Walgreens and Oriole Cinemas. For more information, contact Ramco-Gershenson Properties Trust, 31500 Northwestern Highway, Suite 300, Farmington Hills, MI 48334; 248-350-9900, Fax 248-350-9925; Web site: www.ramco-gershenson.com.
Capital Realty Advisors, Inc. represented Warehouse Market Associates, Ltd. in the sale of Plaza 50 Shopping Center, a 120,534 sq.ft. center located in Carson City, NV. For more information, contact Donna McDonald, Capital Realty Advisors, Inc., 600 Sandtree Drive, Suite 109, Palm Beach Gardens, FL 33403; 561-624-5888.
P.D.Q. Properties Corp. is looking to acquire shopping centers and apartment complexes nationwide. The retail centers must be at least 30,000 sq.ft. and sell for a Cap rate of 8%. For more information, contact Gary Abramson, P.D.Q. Properties Corp., 1250 East Hallandale Beach Boulevard, Suite 904, Hallandale, FL 33009; 800-799-4546, Fax 954-454-7959; Email: gallengreen@aol.com.
Vita & Vita Realty Corp. sold its Quality Super Market-anchored center located at the intersection of Route 8 and East Grandview Boulevard in Erie, PA. The 72,000 sq.ft. center is situated on a land area of 11 acres and is tenanted by JCPenney, Eckerd Drug, First National Bank, Radio Shack, Little Caesars, Northwest Savings Bank, Northwest Drive Thru and a local restaurant. For more information, contact Anthony Vita, Vita & Vita Realty Corp., 277 Fairfield Road, Fairfield, NJ 07004; 973-227-5233, Fax 973-227-5133; Email: tony@vitarealty.com; Web site: www.vitarealty.com.
Millennium Properties, Inc. sold the following Bank One-anchored NNN-leased retail properties on the north side of Chicago, IL: an 8,300 sq.ft. space in Lincoln Park, IL for $3.25 million. The company represented RN Realty, LLC in the sale; and a site located on West North Avenue, just off Kennedy Expressway. The center is tenanted by Trio Salon and clothier Bijora, Inc. For more information, contact Millennium Properties, Inc., Two First National Plaza, 20 South Clark Street, Suite 630, Chicago, IL 60603; 312-338-3000.
Vesta Strategies, LLC is looking to acquire or joint venture single-tenant and power center portfolios nationwide. The company is looking to invest in sub investment grade credit. For more information, contact Dave Carter, Vesta Strategies, LLC, 7380 Sand Lake Road, Suite 500, Orlando, FL 32819; 407-352-3983, Fax 407-352-5204; Email: dcarter@vestastrategies.com.
The Shopping Center Group is selling the following centers: Center at Sunset, an 80,533 sq.ft. center located at the intersection of U.S. 301 and U.S. 64 in Rocky Mount, NC. The center is anchored by Save-A-Lot and Office Depot. Area demographics include a population of 38,638 within three miles earning $49,771 as the average household income; Lilburn Marketplace, a 146,113 sq.ft. center located at the intersection of U.S. 29 and Indian Trail Road in Atlanta, GA. The center is anchored by Winn-Dixie and Rite Aid. Area demographics include a population of 83,755 within three miles; and Chapman Commons, a 77,606 sq.ft. center located on U.S. 441 in Knoxville, TN. The center is 100% occupied and is anchored by Bi-Lo/Ahold. Area demographics include a population of 43,435 within three miles. For more information, contact Mark D. Cooley, The Shopping Center Group, 3010 Towercreek Parkway, Suite 200, Atlanta, GA 30339; 770-955-2434, Fax 770-951-0054; Email: markc@theshoppingcentergroup.com; Web site: www.theshoppingcentergroup.com.
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