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Buyers & Sellers
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Buyers & Sellers Upland Real Estate Group, Inc. sold the following Car X properties throughout IL: a 4,434 sq.ft. store located in Hanover Park for $870,000 and a 3,965 sq.ft. store in Naperville for $1.1 million. For more information, contact Melissa Deshler, Upland Real Estate Group, Inc., 250 Marquette Avenue, Suite 575, Minneapolis, MN 55401-1872; 612-332-6600, Fax 612-376-4489; Email: melissa@upland.com; Web site: www.upland.com.
DePaul Real Estate Investment Group, Inc. is selling Shoppes at Cherry Hills, a 7,920 sq.ft. center located on East Hampden Avenue in Cherry Hills, CO for $3.45 million. The center is 100% leased and is tenanted by Caribou Coffee, Gandolfo’s Deli, Continental Cleaners, One2One Salon, T-Mobile and Germaine Framing and Art Gallery. The company also is selling Sheridan Retail Center, a 25,970 sq.ft. center located on West 120th Avenue in Westminster, CO for $7.975 million. The center is 100% leased and is tenanted by Exempla, National Karate, Fantastic Sam’s, Tutoring Club, Fox & Hound, Instant Imprints and Lyle Nails. The site has an average daily traffic count of 35,000 vehicles. For more information, contact Paul DeCrescentis, DePaul Real Estate Investment Group, Inc., 2401 East Second Avenue, Suite 210, Denver, CO 80206; 303-333-9799, Fax 303-333-1703; Email: paul@depaulreig.com.
Hays Real Estate is selling a 0.9-acre site located next to a Dairy Queen and Casey’s General Store in Hays, KS for $155,000. For more information, contact Errol G. Wuertz, Hays Real Estate, 111 West 8th Street, Hays, KS 67601; 785-625-3371, Fax 785-625-3371; Email: ewuertz@ruraltel.net.
CB Richard Ellis, Inc. negotiated the sale of Plaza Escondida, a 91,121 sq.ft. center located on North Oracle Road in Oro Valley, AZ for $17.8 million. The center was 98% occupied at the time of the sale and is tenanted by Marshall’s, Trader Joe’s, Table Talk and Metropolitan Grill. CB Richard Ellis, Inc. is selling two freestanding pad buildings adjacent to a newly-constructed Costco at the intersection of 10th Street West and The Antelope Valley Freeway in Lancaster, CA for $4.72 million with a Cap rate of 5.5%. For more information, contact Katherine Haug, CB Richard Ellis, Inc., 2415 East Camelback Road, Phoenix, AZ 85016; 602-735-5555, Fax 602-735-5655; Email: katherine.haug@cbre.com; Web site: www.cbre.com/phoenix. For more information regarding the Lancaster properties, contact Sam Alison or Dan Riley, CB Richard Ellis, Inc., 355 South Grand Avenue, Suite 2700, Los Angeles, CA 90071; 213-613-3637/3517; Email: sam.alison@cbre.com and dan.riley@cbre.com; Web site: www.cbre.com.
Island Associates Real Estate, Inc. negotiated the sale of a 10,000 sq.ft. building situated on a land area of 0.5 acres to Maaco Auto Collision in West Hempstead, NY. The price was $500,000. For more information, contact Island Associates Real Estate, Inc., 444 Route 111, Smithtown, NY 11787; 631-982-2100, Fax 631-982-2101; Web site: www.islandassociates.com.
Net Leased Investment Co. is representing a client looking to acquire a fast food restaurant located on the East Coast or in the Midwest for $1 million. For more information, contact Mike Sheerin, Net Leased Investment Co., 120 Alexandria Boulevard, Suite 18, Oviedo, FL 32765; 407-977-2448, Fax 407-977-0775; Email: msheerin@netleased.com.
Marcus & Millichap Real Estate Investment Brokerage Co. is marketing Parkview Village Shops, a 94,841 sq.ft. center located at the intersection of Bellflower Boulevard and Carson Street in Long Beach, CA for $19.875 million with a Cap rate of 6.14%. The center includes 11 buildings, is 98% occupied and is situated on a land area of 4.36 acres. The company also is marketing Berkshire Square Shopping Center, a 112,119 sq.ft. center located on Berkshire Boulevard in Wyomissing, PA for $15 million with a Cap rate of 8.09%. The center is situated on a land area of 32 acres. For more information, contact Marcus & Millichap Real Estate Investment Brokerage Co., One World Trade Center, Suite 2100, Long Beach, CA 90831; 562-436-5800, Fax 562-495-0006; Web site: www.marcusmillichap.com. For more information regarding Berkshire Square Shopping Center, contact Marcus & Millichap Real Estate Investment Brokerage Co., 1628 JFK Boulevard, Suite 1200, Philadelphia, PA 19103; 215-557-0900, Fax 215-557-0966.
Casto sold Northern Lights Shopping Center, a 380,000 sq.ft. center located in Columbus, OH to DLC Management. The company also sold the following five centers located throughout the Pittsburgh, PA area: Great Southern, a 364,195 sq.ft. center anchored by T.J. Maxx and OfficeMax in Bridgeville; Miracle Mile, a 320,029 sq.ft. center anchored by Marshalls, DSW and Old Navy in Monroeville; Northern Lights, a 609,405 sq.ft. center anchored by Giant Eagle in Baden; Raceway Plaza, a center anchored by Wal*Mart in Bridgeville and Southland/Four Seasons, a 367,395 sq.ft. center anchored by OfficeMax and Tuesday Morning in Pleasant Hills. For more information, contact Casto, 191 West Nationwide Boulevard, Suite 200, Columbus, OH 43215; 614-228-5331, Fax 614-469-8376; Web site: www.castoinfo.com.
Combined Properties, Inc. acquired Chatsworth Plaza, a 67,836 sq.ft. center located at the intersection of Devonshire Street and Canoga Avenue in Chatsworth, CA. The center is anchored by Ralph’s Supermarket. For more information, contact Linda Dreyer, Combined Properties, Inc., 1255 22nd Street NW, 6th Floor, Washington, DC 20037-1255; 202-293-4500, Fax 202-833-3013; Web site: www.combined.biz.
Coldwell Banker Commercial – Investment Services Group is representing a client who is closing on the sale of a retail property and needs a replacement property with the following criteria: multi-tenant centers located throughout the western and southern U.S., a minimum Cap rate of 7%, some national and credit tenants and an upside in rent escalations or minor retenanting. The client is looking to acquire properties for between $2 million and $6 million. For more information, contact Shawn Collins, Coldwell Banker Commercial – Investment Services Group, 1340 Bayshore Highway, Burlingame, CA 94010; 650-344-4300 Ext. 24, Fax 650-344-4311; Email: spcollins@coldwellbanker.com.
Ellen Riuka Realty is selling a site located on Hempstead Avenue in Levittown, NY for $900,000. The company also is looking to acquire sites in New York, NY for between $500,000 and $1 million. For more information, contact Herman Maron, Ellen Riuka Realty, 2946 Hempstead Turnpike, Levittown, NY 11786; 516-933-4231, Fax 516-933-4231.
Feldman Mall Properties, Inc. is planning to acquire Northgate Mall, a 1.1 million sq.ft. mall located in the Cincinnati, OH area for $110 million. For more information, contact Feldman Mall Properties, Inc., 1010 Northern Boulevard, Suite 314, Great Neck, NY 11021; 516-684-1239, Fax 516-684-1059; Email: momentum@feldmanmall.com.
Grubb & Ellis Co. is selling an 8,911 sq.ft. Hustler-Hollywood in Nashville, TN for $1.4 million with a Cap rate of 9%. For more information, contact Elizabeth Minihane, Grubb & Ellis Co., 1100 Glendon Avenue, Suite 900, Los Angeles, CA 90024; 310-235-2950; Email: elizabeth.minihane@grubb-ellis.com.
McKinley Real Estate represented Moriah Properties, LLC in the acquisition of a land area of 0.97 acres on Colony in Ann Arbor, MI. For more information, contact McKinley Real Estate, 320 North Main Street, Ann Arbor, MI 48104; 734-769-8520. |