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Buyers & Sellers
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Buyers & Sellers Cooper Realty, Inc.’s affiliate SGC, LLC, acquired The Wythe Creek Plaza Shopping Center, a 53,019 sq.ft. center located at the intersection of Wythe Creek Road and Victory Boulevard in Poquoson, VA. Tenants include Taylor’s Do-It Center, Radio Shack and Curves for Women. The property is situated on a land area of 5.15 acres. For more information, contact Jeff Cooper, Cooper Realty, Inc., 555 East Main Street, Suite 1100, Norfolk, VA 23510; 757-622-2768 Ext. 206, Fax 757-625-3717; Email: jcooper@cooperrealtyva.com .
RCG Ventures, LLC is looking to acquire strip centers with a minimum GLA of 50,000 sq.ft. throughout the eastern half of the U.S. for between $3 million and $100 million with a Cap rate of 7.75%. The company also looks to acquire stabilized properties with a trade-area population of 30,000 and will consider redevelopment/repositioning opportunities. For more information, contact Kelli Jones, RCG Ventures, LLC, 2970 Peachtree Road, Suite 805, Atlanta, GA 30305; 404-816-5454, Fax 404-816-5445; Email: kellij@rcgventures.com ; Web site: www.rcgventures.com .
Lee & Associates of Madison is selling a Boston’s Gourmet Pizza restaurant located on an outparcel at Greenway Station in Middleton, WI for $3.5 million with a Cap rate of 8.25%. The site has 10% rent increases every five years. Greenway Station is anchored by DSW Shoes, Linens ‘n Things, Orvis Outdoor Sporting Goods, Jos. A. Bank, Ann Taylor Loft and Chico’s. Area demographics include a population of 90,000 within five miles earning $76,299 as the average household income. For more information, contact Steve Doran, Lee & Associates of Madison, 4726 East Towne Boulevard, Suite 220, Madison, WI 53704; 608-327-4000, Fax 608-327-4011; Email: sdoran@lee-associates.com .
Lynch Realty Group, LLC is selling Rawson Commons, a 10,391 sq.ft. center located in Franklin, WI for $3.8 million. The center is 100% leased. The company also is selling Shoppes on 100, a 14,108 sq.ft. center located in West Allis, WI for $5.35 million. The center is 90% leased. For more information, contact Kevin P. Lynch, Lynch Realty Group, LLC, 20 South Clark Street, Suite 850, Chicago, IL 60603; 312-456-9620, Fax 312-456-9626; Email: klynch@lynchrealtygroup.com ; Web site: www.lynchrealtygroup.com .
Arroyo & Coates, on behalf of Sansome Pacific Properties, Inc., is selling a Walgreens store located at the intersection of North Lake and Orange Grove in Pasadena, CA for $8.636 million. Area demographics include a population of 181,643 within three miles earning $95,752 as the average household income. The property is subject to a new, 25-year absolute net lease with Walgreens. For more information, contact Paul Souza, Arroyo & Coates, 500 Washington Street, Suite 700, San Francisco, CA 94111; 415-445-7800 Ext. 184, Fax 415-723-7700; Email: psouza@a-c.com .
Equity Commercial Real Estate, LLC is selling a land area of 2.1 acres on the Merton Avenue/Highway KC exit from westbound Highway 16 in Hartland, WI for $1.7 million. The property includes a 12,000 sq.ft. retail center situated on a parcel of 0.93 acres and two rental, residential units on a land area of 1.16 acres. Area retail includes Walgreens. For more information, contact Kenneth J. Petershack, Equity Commercial Real Estate, LLC, 10425 West North Avenue, Suite 340, Milwaukee, WI 53226; 414-727-8000, Fax 414-727-8056; Web site: www.equitycre.com .
NAI Eric Bram & Co. is selling a 56,000 sq.ft. building located on Route 27 North in New Brunswick, NJ. The building is situated on a land area of 3.318 acres. For more information, contact Peter Gallicchio, NAI Eric Bram & Co., 210 North Center Drive, North Brunswick, NJ 08902-4246; 732-545-1414, Fax 732-545-8671; Email: ebc@ericbram.com ; Web site: www.ericbram.com .
Investment Real Estate Associates is selling a Marathon Gas Station with a convenience store located on Taft Street in Hollywood, FL for $1.262 million with a Cap rate of 7.5%. The site has an average daily traffic count of 20,500 vehicles. For more information, contact Michael Narula, Investment Real Estate Associates, 1200 Brickell Avenue, Suite 800, Miami, FL 33131; 305-808-7960 Ext. 304, Fax 305-808-7962; Email: mnarula@irea-usa.com .
Icon Commercial Realty, Inc. is seeking investment properties with the following acquisition criteria: shopping centers with a GLAs of 60,000 sq.ft. to 250,000 sq.ft. that are mismanaged or that have absentee owners. Preferred sites are within FL and GA; and new developments with easy access on major roadways and with existing or future retail developments nearby. For more information, contact Sammy Mawardi, Icon Commercial Realty, Inc., 1948 Harrison Street, Hollywood, FL 33020; 954-922-0303.
Wallace Properties, Inc. is looking to acquire strip centers throughout AZ, with a focus on the eastern Phoenix area, and in all markets of WA for between $5 million and $25 million. The centers must be 90% occupied. For more information, contact Robert C. Wallace, Wallace Properties, Inc., PO Box 4184, Bellevue, WA 98009; 425-455-9976; Email: rwallace@wallaceproperties.com ; Web site: www.wallaceproperties.com .
OTRE Investments, LLC is looking to acquire single-tenant and freestanding locations from 2,000 sq.ft. to 75,000 sq.ft. nationwide, with the exception of the northeast region. For more information, contact David Boudreau, OTRE Investments, LLC, 301 Howard Street, Suite 930, San Francisco, CA 94118; 415-908-4945, Fax 415-908-4936; Email: dboudreau@otre.net .
Marcus & Millichap is selling a The Learning Experience location on Route 9 in Bayville, NJ for $3.25 million with a Cap rate of 7.37%. The site has rent increases of 12% every five years. For more information, contact Paul A. Hewitt, Marcus & Millichap, River Drive Center 3, 611 River Drive, 4th Floor, Elmwood Park, NJ 07407; 201-582-1000 Ext. 1014, Fax 201-582-1010.
Texas Business Vistas, Inc. is selling the following two sites located on Interstate 35 West and the North & South of Alliance Gateway Freeway in the Dallas/Fort Worth, TX area: a land area of 19 acres for $1.75 million and a land area of 28 acres for $2.225 million. For more information, contact Jim Klein, Texas Business Vistas, Inc., PO Box 5707, Granbury, TX 76049; 214-803-2335, Fax 817-326-4900; Email: tbv1983@alltell.net .
The Good Group is selling an NNN-leased Sonic Drive-In in Orlando, FL for $1.2 million with a Cap rate of 7.5%. The restaurant is situated on a land area of 1.8 acres and has approximately 6.5 years left on a 10-year lease with two, five-year options and increases every five years. Area retail includes Publix, Albertsons, CVS, Blockbuster Video, Perkins and 7-Eleven. For more information, contact Mike Sheerin, The Good Group, 1000 North Orlando Avenue, Suite A, Winter Park, FL 32789; 407-628-9555, Fax 407-386-6101; Email: msheerin@thegoodgroup.com ; Web site: www.thegoodgroup.com .
Millennium Properties, Inc. is selling a land area of 10 acres that has been improved with a 99,469 sq.ft. building on Morton Avenue in Jacksonville, IL. The site is located adjacent to a proposed Wal*Mart Supercenter. For more information, contact Susan B. Silver, Millennium Properties, Inc., 20 South Clark Street, Suite 630, Chicago, IL 60603; 312-338-3001, Fax 312-338-3008; Email: ssilver@mpirealestate.com .
D. Linton & Associates Realty is looking to acquire empty big box retail spaces nationwide with transactions up to $25 million. The company is able to close within 30 days on deals over $5 million and is able to close within 10 days on deals up to $5 million. For more information, contact Sandra Heurtelou, D. Linton & Associates Realty, 14540 SW 136 Street, Suite 100, Miami, FL 33186; 305-234-1232, Fax 305-234-1252; Email: sandrah@dlintonrealty.com .
NAI Ohio Equities is selling June Parkway Plaza, an 18,000 sq.ft. center located in Zanesville, OH for $2.035 million with a Cap rate of 8.62%. Tenants include Advance America, H&R Block, USA Pizza, Phone Depot and Curves. The site has a net operating income of $175,619. For more information, contact Michael Zelnik or Patrick Dwyer, NAI Ohio Equities, 614-629-5280/5282; Emails: mike@44ohio.com and pat@44ohio.com .
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