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Buyers & Sellers
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Buyers & Sellers Atlantic Retail Properties is selling a 3.15-acre site located on Route 126 in Woonsocket, RI. The site is improved with a 14,000 sq.ft. center downtown. Area retail includes Burger King, Blockbuster Video, Walgreens and Rent-A-Center. For more information, contact Rob Robledo, Atlantic Retail Properties, 67 Batterymarch Street, Boston, MA 02110; 617-239-3600, Fax 617-239-3650; Email: rrobledo@atlanticretail.com; Web site: www.atlanticretail.com.
Marcus & Millichap National Retail Group is selling an Eckerd drug store located at the intersection of New Hampshire Avenue and Wolf Road in Colesville, MD for $7.466 million with a Cap rate of 7.25%. The 1.25-acre site includes a drive-thru. Area demographics include a population within one mile earning $110,000 as the average household income. The company also is selling an Eckerd drug store located at the intersection of Lee Highway and Prosperity Avenue in Merryfield, VA for $8.059 million with a Cap rate of 7%. For more information, contact Mark Taylor or Dean Zang, Marcus & Millichap National Retail Group, 1628 JFK Boulevard, Suite 1200, Philadelphia, PA 19103; 215-557-0900, Fax 215-557-0966; Web site: www.marcusmillichap.com.
Pomerleau Real Estate is selling a land area of 24.9 acres on Route 7 in Rutland, VT for $550,000. The site includes 15 acres to 16 acres of land. For more information, contact Charlie Poulin, Pomerleau Real Estate, 69 College Street, PO Box 6, Burlington, VT 05402; 802-863-8210; Email: cpoulin@vermontrealestate.com.
New Plan Excel Realty Trust, Inc. is looking to acquire neighborhood, community and power centers located in dominant retail corridors. The company prefers anchored centers with 70% to 75% national credit tenants. The company also will acquire properties in need of redevelopment and repositioning, as well as retail portfolios. The company sells centers, freestanding NNN lease properties and land, redevelopment and development parcels. The centers must be at least 75,000 sq.ft. and up. For more information, contact Dean Bernstein, New Plan Excel Realty Trust, Inc., 1120 Avenue of the Americas, New York, NY 10036; 212-869-3000, Fax 212-869-3989; Email: dbernstein@newplan.com; Web site: www.newplan.com.
Rivercrest Realty Investors is seeking to acquire centers located east of the Mississippi River. For more information, contact Rivercrest Realty Investors, 8816 Six Forks Road, Suite 201, Raleigh, NC 27615; 919-846-4046, Fax 919-846-5814.
The Royston Group is selling the following properties throughout FL: a building located on Lake Bradford Road in Tallahassee. Area retail includes McDonald’s, Church’s Chicken, Subway and Circle K; and a building located on North Monroe Street in Tallahassee. The building is located near the 964,000 sq.ft. Tallahassee Mall, which is tenanted by AMC 20 Theatres, Dillard’s, Oshman’s and Gart Sports. Neighboring tenants include Krispy Kreme, Blockbuster Video, Red Lobster, Circle K and Subway. The sites have new 20-year NNN leases with 10% rental increases every five years. Each property is being offered at $2.482 million. For more information, contact Patrick W. Woods, 1101 Montana Avenue, Suite C, Santa Monica, CA 90403; 310-451-2100, Fax 310-395-3557; Email: pwoods@theroystongroup.com; Web site: www.theroystongroup.com.
Consolidated Affiliates is selling a land area of 6.997 acres at the intersection of Saratoga Avenue and Route 9 in Corinth, NY. For more information, contact Barry Stafford or Peter Pinkard, Consolidated Affiliates, LLC, 25 South Main Street, Suite 11, Edison, NJ 08837; 732-767-9333 or 410-819-0800 for Peter Pinkard; Emails: bstafford@consolidatedaffiliates.com and ppinkard@consolidatedaffiliates.com.
Winick Realty Group is selling a land area of 6.195 acres on Old Country Road in Riverhead, NY for $3.4 million. Area retail includes Wal*Mart, King Kullen and Washington Mutual. For more information, contact Rick Riccardi or Shaya Averbauch, Winick Realty Group, 655 Third Avenue, Eighth Floor, New York, NY 10017; 212-792-2635/2639; Emails: rick@winick.com and shaya@winick.com; Web site: www.winick.com.
LMS Commercial Real Estate is selling a 64,460 sq.ft. site located at the intersection of Route 30 and Roosevelt Avenue in York, PA. The center is situated on a land area of 12.1 acres. Area demographics include a population of 124,113 within five miles earning $52,349 as the average household income. For more information, contact LMS Commercial Real Estate, 120 North Pointe Boulevard, Suite 301, Lancaster, PA 17601; 717-569-9373, Fax 717-560-9909.
Upland Real Estate Group, Inc. sold the following Walgreens stores: a 14,490 sq.ft. store in Claremore, OK for $5.8 million and a 14,820 sq.ft. store in Sioux Falls, SD for $4.7 million. For more information, contact Brier E. Swing, Upland Real Estate Group, Inc., 250 Marquette Avenue, Suite 575, Minneapolis, MN 55401-1872; 612-332-6600, Fax 612-376-4489; Email: brier@upland.com; Web site: www.upland.com.
Weichert Commercial Brokerage, Inc. is selling a 17,208 sq.ft. building located on Northampton Street in Easton, PA for $975,000. The space was previously a retail store/restaurant/art gallery. For more information, contact Barbara Ziev, Weichert Commercial Brokerage, Inc., One West Broad Street, Suite 1020, Bethlehem, PA 18018; 610-861-9855, Fax 610-861-0564; Email: bziev@weichertcommercial.com; Web site: www.weichertcommercial.com.
The Goldstein Group is selling a 2,700 sq.ft. former Bombay Grill restaurant located on Tonnelle Avenue in North Bergen, NJ. The restaurant is situated on a land area of 0.5 acres. Area demographics include a population of 1,637,714 within five miles earning $91,858 as the average household income. Area retail includes Target, Pathmark, Home Depot, Lowe’s Home Improvement Center, Dunkin’ Donuts, Marty’s Shoes, Rag Shop and Wendy’s. The company also is selling an 8,000 sq.ft. former Ants Books located on Park Avenue in Rutherford, NJ. The building has three floors with a selling basement. Area demographics include a population of 524,485 within five miles earning $65,606 as the average household income. Area retail includes Subway, Dunkin’ Donuts, Sherwin Williams, Bank of New York, Westwood Sleep Center and Williams Center For Arts. For more information, contact Lew Finklestein or Chuck Lanyard, The Goldstein Group, Glen Rock Plaza, 266 Harristown Road, Suite 105, Glen Rock, NJ 07452; 201-703-9700, Fax 201-703-9678; Emails: lfinklestein@thegoldsteingroup.com and clanyard@thegoldsteingroup.com; Web site: www.thegoldsteingroup.com.
CB Richard Ellis, Inc. is selling a 35,030 sq.ft. center located on Central Avenue in Chino, CA for $4.936 million with a Cap rate of 6.44%. Tenants include Kragen Auto Parts and Radio Shack. For more information, contact Rick Strack or Patrick Toomey, CB Richard Ellis, Inc., 3501 Jamboree Road, Suite 100, Newport Beach, CA 92660; 949-725-8529/8507, Fax 949-725-8545; Emails: rick.strack@cbre.com and patrick.toomey@cbre.com; Web site: www.cbre.com.
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