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Buyers & Sellers
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Buyers & Sellers Central Place Real Estate is selling a 3,880 sq.ft. former Steak N Shake restaurant located on Durand Avenue in Racine, WI for $750,000. The space is expandable to 9,000 sq.ft. and is situated on a land area of 1.5 acres. Area retail includes JCPenney, Boston, Sears and Walgreens. For more information, contact Robert Zache, Central Place Real Estate, 8383 Greenway Boulevard, Middleton, WI 53562; 608-836-9070, Fax 608-836-5547; Email: info@centralplacere.com; Web site: www.centralplacere.com.
R.C. Chera Realty Group, LLC is representing a portfolio of private investors seeking the following: retail sites in Manhattan, NY with a 6% Cap rate and up with NNN leases, high-end office buildings with a 6.5% Cap rates and up and potential condo-conversion buildings; retail sites in Brooklyn, Bronx and Queens with 6% Cap rates and up with NNN leases. For more information, contact R.C. Chera Realty Group, LLC, 152 West 36th Street, Suite 202, New York, NY 10018; 212-760-0200, Fax 212-760-0206; Email: info@rcchera.com.
Higgenbotham Auctioneers International, Ltd. is selling a land area of 19.98 acres located on the south side of NC 24/27 Bypass in Albemarle, NC for $650,000. Area retail includes Wal*Mart Supercenter and Holiday Inn Express. For more information, contact Karen Jones, Higgenbotham Auctioneers International, Ltd., 1666 Williamsburg Square, Lakeland, FL 33803; 800-257-4161; Web site: www.higgenbotham.com.
Arroyo & Coates is marketing a Burger King NNN ground leased property located in Atascosita, TX for $954,000. The restaurant has been at the location for 20 years and the rent is considered below market. The site is located in front of the Atascosita Town Center and is located near a Wal*Mart Supercenter. Area demographics include a population of within five mile earning $110,000 as the average household income. For more information, contact Eric C. Wilcox, Arroyo & Coates, 500 Washington Street, Suite 700, San Francisco, CA 94111; 415-445-7800, Fax 415-276-2360; Email: ewilcox@a-c.com; Web site: www.arroyocoates.com.
The Shopping Center Group, LLC is selling the following locations: a 9,014 sq.ft. Dollar General store located on Hickory Flat Highway in Canton, GA for $630,000 with a Cap rate of 6.77%. The building is situated on a land area of 1.01 acres; and a 9,014 sq.ft. Dollar General store located at the intersection of Augusta Road and Stratford Road in Greenville, SC for $840,000 with a Cap rate of 6.76%. The building is situated on a land area of 0.745 acres. For more information, contact The Shopping Center Group, LLC, 3101 Towercreek Parkway, Suite 200, Atlanta, GA 30339; 770-955-2434, Fax 770-951-0054; Web sites: www.scginvestments.com and www.theshoppingcentergroup.com.
NewBridge Retail Advisors, Inc. is selling Signing River Mall, a 563,751 sq.ft. regional mall located at the intersection of U.S. Highway 90 and Dolphin Road in Gautier, MS. The center is anchored by Sears, JCPenney and McRae’s. The site has an average daily traffic count of 34,000 vehicles. For more information, contact Gary Saykaly or Lynn Leonard, NewBridge Retail Advisors, Inc., Royal Centre One, 11675 Great Oaks Way, Suite 135, Alpharetta, GA 30022; 678-802-6500, Fax 678-802-6588.
Marlin Properties, LLC is selling land areas of one acre to two acres at the intersection of Martin Luther King Boulevard and Highway 3040 in Houma, LA for $13.50 psf. The company also is selling Grand Van Park, a 15,440 sq.ft. center located in Houma, LA for $1.325 million with a Cap rate of 8%. The center is currently 100% occupied. For more information, contact Henry J. Richard, Marlin Properties, LLC, PO Drawer 4035, Houma, LA 70361; 985-856-5203, Fax 985-872-9160.
Ludwig & Seeley Real Estate represented Lowe’s Home Improvement Center, Inc. in the acquisition of a vacant Kmart location situated on a land area of 14 acres on U.S. 10 in Ludington, MI. The company also represented Lowe’s Home Improvement Center, Inc. in the acquisition of a former Meijer site situated on a land area of 13 acres on M-66 in Ionia, MI. For more information, contact Heather Stout, Ludwig & Seeley Real Estate, 29850 Northwestern Highway, Southfield, MI 48034; 248-750-1700.
Agentis Real Estate Corp. is selling a land area of 5.3 acres at the intersection of William Penn Highway and Farmersville Road in Bethlehem Township, PA for $3.5 million. The site has an average daily traffic count of 22,000 vehicles. The company also is selling a land area of 3.52 acres on Willow Park Road in Bethlehem Township for $895,000. For more information, contact Robert M. Agentis, Agentis Real Estate Corp., 308 East Broad Street, Bethlehem, PA 18018; 610-691-5900.
Allegro Realty Advisors, Ltd. is selling a 25,060 sq.ft. PetsMart location located on East Central Texas Expressway in Killeen, TX. The building is situated on a land area of 1.86 acres and has 16 years remaining on its lease. For more information, contact Allegro Realty Advisors, Ltd., 8111 Rockside Road, Suite 250, Cleveland, OH 44125; 216-524-0710 Ext. 119, Fax 216-524-0711; Email: jvanderplough@allegrorealty.com; Web site: www.allegrorealty.com.
Cox Management Group, LLC is selling a land area of 0.98 acres at the intersection of Routes 13 and 14 in Harrington, DE for $750,000. The owner will sell, ground lease or built-to-suit. For more information, contact Christopher Cox, Cox Management Group, LLC, 407 Brookletts Avenue, Suite 200, Easton, MD 21601; 410-819-8008, Fax 410-822-3910; Email: chris.cox@trioilco.com.
Marcus & Millichap National Retail Group is selling Dollar Tree Plaza, a 25,400 sq.ft. center located in Corpus Christi, TX for $3.3 million with a Cap rate of 7.53%. The center is currently 95% occupied and has seven tenants. Area retail includes Wal*Mart Supercenter. The site has an average daily traffic count of 30,000 vehicles. For more information, contact Brian T. Southworth, Marcus & Millichap National Retail Group, 101 West Ohio Street, Suite 1550, Indianapolis, IN 46204; 317-955-2600, Fax 317-955-0091; Email: bsouthworth@marcusmillichap.com.
NAI Mathews Partners is selling a center located in Bowling Green, KY for $2.75 million. The site has an average daily traffic count of 37,000 vehicles. The center is currently 79% leased, including 69% to national and regional tenants with net leases. For more information, contact Cheri Thomas, NAI Mathews Partners, 300 Broadway, Nashville, TN 37201; 615-850-2705, Fax 615-244-2957; Web site: www.mathewspartners.net.
Sperry Van Ness completed the NNN portfolio sale of four Sonic Drive-In restaurants in TX for $4.15 million to Taft Ave., LLC. Three of the restaurants are located in San Antonio, with the third located in South Yoakum. For more information, contact David Ebeling, Sperry Van Ness, 18881 Von Karman, Suite 800, Irvine, CA 92612; 949-225-1883, Fax 949-553-1697; Emails: david.ebeling@svn.com and megan.monfort@svn.com.
Ray Rap Realty is selling a 27,500 sq.ft. center located in Far Rockaway, NY for $6.5 million. There is an additional pad site available. For more information, contact Raymond J. Rapcavage, Ray Rap Realty, 10 Mechanic Street, Suite 100, Red Bank, NJ 07701; 732-747-0300, Fax 732-747-1541; Web site: www.rayraprealty.com.
Eastern Net Lease Advisors is looking to acquire strip centers and freestanding buildings in secondary markets throughout New England for between $500,000 and $5 million. The buildings must be between 5,000 sq.ft. and 30,000 sq.ft. and be situated on land areas from 0.5 acres to 20 acres. For more information, contact Michael R. O’Mara, Eastern Net Lease Advisors, 21 Oak Street, Medway, MA 02053; 508-321-1422, Fax 508-321-1344; Email: mike@eastern1031.net; Web site: www.eastern1031.net. |