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Buyers & Sellers
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Buyers & Sellers Coyote Management, L.P. is looking to acquire power centers or malls up to 500,000 sq.ft. nationwide. The preferred price range is $30 million or higher. For more information, contact Jet Leonard, Coyote Management, L.P., 16475 Dallas Parkway, Suite 250, Addison, TX 75001; 972-248-9375, Fax 972-248-0871.
RE/MAX Commercial is selling a seven-acre site located at the intersection of 105 Highway and Wilson Drive in Boone, NC for $2.95 million. Area retail includes Boone Mall and Wal*Mart. The site has an average daily traffic count of 29,000 vehicles. For more information, contact Leonard Cosmo, RE/MAX Commercial, 537 North Main Street, PO Box 726, Blowing Rock, NC 28605; 800-514-8094; Email: leonard@sellingboone.com.
Faris Lee Investments negotiated the sale of Creekside Plaza, a 76,319 sq.ft. supermarket-anchored center located on Agoura Road in Calabasas, CA for $21.7 million. The center was sold by W Calabasas LLC to Mar LLC. The center is currently 100% occupied and is tenanted by Albertsons, Starbucks and Quizno’s. Demographics include a trade-area population earning $90,000 as the average household income. For more information, contact Faris Lee Inestments, 2301 Dupont Drive, Suite 100, Irvine, CA 92612; 949-221-1800, Fax 949-221-1830; Email: info@farislee.com; Web site: www.farislee.com.
Upland Real Estate Group, Inc. sold the following Back Yard Burger locations in AL and GA: a 3,452 sq.ft. restaurant in Florence, AL for $1.6 million; a 2,460 sq.ft. restaurant in Macon, GA for $1.7 million and a 2,800 sq.ft. restaurant in Milledgeville, GA for $1.6 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.
CB Richard Ellis, Inc. negotiated the sale of an 8.7-acre parcel located at the intersection of 83rd Avenue and Thunderbird Road in Peoria, AZ for $3.1 million. The parcel will be developed into a center called Marketplace at Thunderbird, which will be anchored by Gold’s Gym and cotenanted by CVS and McDonald’s. Area retail includes Lowe’s Home Improvement, Sprouts and 99 Cents Only. For more information, contact Katherine Haug, CB Richard Ellis, Inc., 2415 East Camelback Road, Phoenix, AZ 86016-4290; 602-735-5555, Fax 602-735-5655; Email: katherine.haug@cbre.com; Web site: www.cbre.com.
Pine Tree Commercial Realty acquired a portfolio of 12 centers throughout IN and KY. The company recently acquired the 211,660 sq.ft. portfolio from an affiliate of Williams Realty Group. The centers listed include: Meridian Parke Shoppes, a 31,673 sq.ft. center in Indianapolis, IN; Keystone Shoppes, a 16,272 sq.ft. center in Indianapolis; Madison & Edgewood Shoppes, a 28,069 sq.ft. center in Indianapolis; Shops at 99 East Carmel, a 14,429 sq.ft. center in Carmel, IN; Geist Station Shopping Center, a 35,357 sq.ft. center in Indianapolis; Lima Road Shoppes, a 15,340 sq.ft. center located in Fort Wayne, IN; Kroger Plaza, a 22,490 sq.ft. center located in Shelbyville, IN; Blockbuster Plaza, a 6,240 sq.ft. center located in Seymour, IN; Blockbuster Plaza, a 5,250 sq.ft. center in Vincennes, IN; Pine Creek Shoppes, a 15,800 sq.ft. center located in Fishers, IN; Blockbuster Plaza, a 9,940 sq.ft. center located in Henderson, KY and Gardenside Shoppes, a 10,800 sq.ft. center located in Henderson, KY. For more information, contact Pine Tree Commercial Realty, 51 Sherwood Terrace, Suite C, Lake Bluff, IL 60044; 847-735-0600, Fax 847-735-0664; Web site: www.pinetreecommercial.com.
Commercial Retail Advisors, LLC sold a 14-acre shopping center site located at the intersection of 22nd Street and Harrison Road in Tucson, AZ to Brown Tucson, LLC. Brown Tucson, LLC has plans to develop Old Spanish Trail Marketplace, a 150,000 sq.ft. center, which will be anchored by an office supply store, home goods, apparel, footwear, party supply and mattress stores. Two pad sites will include a fast food chain and a regional automotive repair facility. For more information, contact Commercial Retail Advisors, LLC, 4811 East Grant Road, Suite 262, Tucson, AZ 85712; 520-290-3200, Fax 520-751-7465; Web site: www.cradvisorsllc.com.
AAG Management Co. is representing a client looking to acquire supermarkets and distribution centers east of the Mississippi River. The client requires sites to be free and clear of financing and that the lease has a minimum of 15 years to run. Triple net and double nets are okay. For more information, contact Martin Kapelner, AAG Management Co., 421 Seventh Avenue, 15th Floor, New York, NY 10001; 212-564-7250, Fax 212-615-2736.
The Frederick Group, Ltd. is selling a land area of 18 acres at the intersection of Route 145 and Riverview Drive in Walnutport, PA for $1.5 million. For more information, contact Wendy Karopoolos, The Frederick Group, Ltd., 3500 Winchester Road, Suite 201, Allentown, PA 18104; 610-398-8712, Fax 610-398-7294.
Poinsett Realty Fund has acquired Pelham Oaks Shopping Center, a 60,000 sq.ft. center located in Greenville, SC. The center was formerly a Winn-Dixie supermarket and Eckerd. Poinsett plans to redevelop the center as a mixed-use project. For more information, contact Brad Thomas, Poinsett Realty Fund, PO Box 26864, Greenville, SC 29616; 864-627-0707, Fax 864-627-0055; Email: rbtinc@prodigy.net.
Ramco-Gershenson Properties Trust is planning to acquire seven FL shopping centers, totaling approximately 1.2 million sq.ft. for $138.3 million. The centers include: Treasure Coast Commons, a 92,979 sq.ft. center and Vista Plaza, a 109,728 sq.ft. center in Jensen Beach; Martin Square, a 333,356 sq.ft. center in Stuart; Marketplace of Delray, a 247,023 sq.ft. center and Village of Oriole Plaza, a 155,752 sq.ft. center in Delray Beach; West Broward Shopping Center, a 155,809 sq.ft. center located in Plantation and Village Plaza, a 135,000 sq.ft. center in Lakeland. Major tenants in various centers include Bed Bath & Beyond, Barnes & Noble, Circuit City, Michaels, Publix, Staples, Sports Authority and Winn-Dixie. For more information, contact Ramco-Gershenson Properties Trust, 31500 Northwestern Highway, Suite 300, Farmington Hills, Michigan 48334; 248-350-9900, Fax 248-350-9925; Web site: www.ramco-gershenson.com.
NewBridge Retail Advisors served as advisors on the sale of Crosspointe Plaza, a 72,978 sq.ft. center located at the intersection of Haywood Road and Woods Crossing Road in Greenville, SC. The center is anchored by Circuit City, Toys “R” Us, Stax Grill and Jason’s Deli. The company also served as advisor in the sale of Leigh Mall in Columbus, MS and Greenville Mall in Greenville, MS. NewBridge represented the sellers, LB Lowndes, MS, LLC for Leigh Mall and LB Washington MS, LLC for Greenville Mall. The buyer of both malls was Security National Properties Funding. Leigh Mall is 308,398 sq.ft. and is anchored by Sears, JCPenney and Books-A-Million. It is located on a land area of 30 acres on Highway 45N and is currently 86% occupied. Greenville Mall is 306,145 sq.ft. and is anchored by Sears, McRae’s, JCPenney and Piccadilly Cafeterias. The mall is situated on a land area of 32 acres at the intersection of Highway 1 and Bowman Boulevard. For more information, contact Gary Saykaly, NewBridge Retail Advisors, Royal Centre One, 11675 Great Oaks Way, Suite 135, Alpharetta, GA 30022; 678-802-6550, Fax 678-802-6588; Web site: www.newbridgeretail.com.
The Woodmont Co. sold Haltom City Shopping Center, a 149,176 sq.ft. center located on Denton Highway in Haltom City, TX to The Malachite Group, LTD. The company also has completed negotiations for the sale of three acres in Mansfield, TX to Fire Mountain Restaurant. Formerly used as Ryan’s Steakhouse, the 10,800 sq.ft. restaurant will be located off Highway 287 and North Walnut Creek Drive. For more information, contact The Woodmont Co., 2100 West 7th Street, Fort Worth, TX 76107-2306; 817-732-4000, Fax 817-735-4738; Web site: www.woodmont.com.
The Cotswold Group, Inc. acquired Hunting Park Plaza, a 128,000 sq.ft. center located on East Hunting Park Avenue in Philadelphia, PA. The center sits on a land area of 10 acres and is anchored by National Wholesale Liquidators, A.J. Wright and Dollar Tree. Cotenants include Rainbow Apparel, Payless ShoeSource and Rent Way. The center also has space available. For more information, contact The Cotswold Group, Inc., 229 Beechmont Drive, New Rochelle, NY 10804-4405; 914-654-0035, Fax 914-654-0188.
M2 Realty Corp. is selling a land area of 1.03 acres in Boca Raton, FL. The property consists of a 6,200 sq.ft. building, is 100% leased and has approximately 30,000 sq.ft. of vacant land. For more information, contact Emran Ally, M2 Realty Corp., 777 Brickell Avenue, Suite 1200, Miami, FL 33131; 800-587-9097 Ext. 24, Fax 305-373-0905; Email: eally@m2realty.com.
Sperry Van Ness is representing an all-cash client looking to acquire portfolios of supermarket-anchored centers nationwide, in Mexico or Puerto Rico. For more information, contact Greg Trombley, Sperry Van Ness, 18881 Von Karman, Suite 800, Irvine, CA 92612; 949-225-1823, Fax 949-250-4126; Email: greg.trombley@svn.com.
Inland Western Retail Real Estate Trust, Inc. has acquired two Academy Sports and Outdoors stores in TX. The company acquired the 61,001 sq.ft. Academy Sports in Port Arthur for $5 million. The other location is a 61,150 sq.ft. store in Midland and was acquired for $4.25 million. 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.
Steven D. Bell & Co. sold 440,000 sq.ft. of GLA at Henry Town Center, a 720,710 sq.ft. center located at the intersection of Interstate 75 and Jonesboro Road in McDonough, GA for $61 million to Inland Real Estate Group of Cos., Inc. The center is anchored by Super Target, Home Depot and Belk. The actual retail property purchased is tenanted by BJ’s Wholesale Club, Ross Dress For Less, Marshall’s, Staples, Michaels and Bed Bath & Beyond. For more information, contact Ed Harrington, Steven D. Bell & Co., 823 North Elm Street, Suite 200, Greensboro, NC 27401; 336-272-7196.
Grubb & Ellis - Houston is selling Oyster Creek Center, a 31,769 sq.ft. center located at the southwest corner of State Highway 228 at State Highway 332 in Lake Jackson, TX for $3.58 million with a Cap rate of 9.24%. The center is anchored by Nowlin Jewelry and is immediately adjacent to a 34,261 sq.ft. Food King supermarket. The company also is selling Coles Crossing Shopping Center, a 109,556 sq.ft. center located at the intersection of Barker Cypress Road and U.S. Highway 290 in Houston, TX for $10 million with a Cap rate of 7.17%. The center is anchored by a 67,493 sq.ft. Randalls Grocery. For more information, contact George Cushing, Grubb & Ellis – Houston, 1330 Post Oak Boulevard, Suite 1400, Houston, TX 77056; 713-599-5165, Fax 713-626-2288; Email: george.cushing@grubb-ellis.com; Web site: www.georgecushing.com.
McCollom Realty, Ltd. represented Marsh Supermarket in finalizing the acquisition of a former Kmart at the intersection of Route 59 and 111th Street in Naperville, IL. The 65,000 sq.ft. Marsh Supermarket will be a lifestyle store. For more information, contact Colleen McCollom, McCollom Realty, Ltd., 1010 Lake Street, Suite 503, Oak Park, IL 60301; 708-383-6450, Fax 708-383-1120.
Coldwell Banker Commercial Mountain West Real Estate, LLC is selling a pad site situated on a land area of 4.5 acres on Highway 20 in Lebanon, OR. The asking price ranges from $12 psf to $18 psf. The site is located just one block from a Wal*Mart Supercenter. For more information, contact Jennifer Martin, Coldwell Banker Commercial Mountain West Real Estate, LLC, 698 12th Street SE, Suite 100, Salem, OR 97301; 503-587-4768, Fax 503-373-3081.
Lamar Cos. acquired Lenoir Festival Centre located at the intersection of U.S. Highway 321 and Hospital Avenue in Lenoir, NC. The 144,239 sq.ft. center is anchored by Belk’s, Bi-Lo, Tractor Supply and Fashion Bug and has space available of 3,450 sq.ft. For more information, contact Dana Hawkins, Lamar Cos., 365 South Street, Morristown, NJ 07960; 973-285-0660 or 800-526-0762 Ext. 340, Fax 973-285-0976; Email: danah@lamarco.com.
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