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Buyers & Sellers
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Buyers & Sellers Redner and Associates is selling a land area of 3.36 acres with two additional acres available at the intersection of Highway 9 and Highway 52 in Dahlonega, GA for $575,000. For more information, contact Linda Stancil-Redner, Redner and Associates, 33 Live Oak Road, Suite A, Dahlonega, GA 30533; 706-867-0107, Fax 706-867-0245; Web site: www.lindastancilredner.com .
NewBridge Retail Advisors served as advisor in the sale of Beckley Crossing, a center located in Beckley, WV. The company represented BC Associates, LP in the sale. The buyer was Libby Beckley Enterprises, LLC. The center is anchored by Kroger and a dark Wal*Mart and is currently 98% occupied. For more information, contact Lynn Leonard Roth, NewBridge Retail Advisors, 11675 Great Oaks Way, Suite 135, Alpharetta, GA 30022; 678-802-6565, Fax 678-802-6588.
Meredith Suites Management is representing a buyer for A or B class properties valued between $15 million and $20 million with a 9% Cap or higher. The buyer is looking for properties throughout NC, but will look at other sites. For more information, contact Bakul Modi, Meredith Suites Management, 919-481-4191; Email: bakulmm@yahoo.com .
Blue Moon Capital, LLC is representing an investor looking to acquire commercial property worth $10 million and up. The investor requires at least a 9% yield. For more information, contact Hung Nguyen, Blue Moon Capital, LLC, 1099 18th Street, Suite 1750, Denver, CO 80202; 720-224-9900, Fax 720-224-9901; Email: hung@bluemooncapital.com ; Web site: www.bmcsquared.com .
CB Richard Ellis/The Boulous Co. is selling the following sites: a land area of one acre between Augusta and Gardiner on Route 201 in Farmingdale, ME. The site has an average daily traffic count of 16,860 vehicles. Area retail includes NAPA and True Value; and a land area of 20.6 acres at the intersection of Route 1 and Route 144 in Wiscasset, ME. For more information, contact CB Richard Ellis/The Boulous Co., One Canal Plaza, Portland, ME 04101; 207-772-1333; Email: cpaszyc@boulous.com .
Georgia Commercial Investors, Inc. is looking to acquire shopping centers, office buildings and apartment communities throughout the Atlanta, GA area. For more information, contact Ken Forrester, Georgia Commercial Investors, Inc., 1401 Aranore Drive, Conyers, GA 30013; 770-761-0403, Fax 770-761-8842.
Kreis & Co., LLC is looking to acquire off market deals for $20 million and up. The company will acquire hotel/resorts, retail sites and CBD office. For more information, contact David Kopp, Kreis and Co., LLC, 1771 Post Road East, Westport, CT 06880; 203-364-8643, Fax 775-942-7796.
Ruggiero Development Group is selling a land area of 2.44 acres with approvals for a retail building of 12,058 sq.ft. and a bank building of 3,595 sq.ft. in Gloucester Township, NJ for $1.4 million. For more information, contact Louis J. Stackeni, Ruggiero Development Group, 1786 Wilmington Pike, Suite 300, Glen Mills, PA 19342; 484-843-4814, Fax 610-459-4151; Email: lstackeni@rdgllc.com ; Web sites: www.rdgllc.com , www.tropeacommunities.com and www.homesofpennsylvania.com .
GMH Capital Partners is selling Garden Park, a 178,335 sq.ft. center located on West Main Street in Lewisville, TX. The center is currently 63% occupied and has a net operating income of $816,612. There are currently 29 tenants. For more information, contact Bill Tourtellotte, GMH Capital Partners, 10 Campus Boulevard, Newtown Square, PA 19073; 610-355-8097, Fax 610-355-8397; Email: wtourtellotte@gmh-inc.com ; Web site: www.gmhcp.com .
Brookside Realty Corp. is looking to acquire centers throughout the southeastern U.S. with the following criteria: not on LoopNet, grade C or B or better, a minimum GLA of 100,000 sq.ft., under $60 psf, with national tenants. The site also must be owner or direct with seller. For more information, contact Amy J. Saul, Brookside Realty Corp., 561-860-9459, Fax 561-860-9460; Email: amy561@aol.com .
A private investor is looking to acquire an investment-producing property for between $8 million and $10 million throughout NC. The investor also is selling investment retail, office and medical properties for up to $1 million throughout NC. The return must be 6% or better and it must have two years left on the tenant’s lease. For more information, contact Laszlo Lukacsi, 919-227-5674; Email: laszlo@hunterlane.com .
Kalmon Dolgin Affiliates, Inc. is selling a freestanding CVS drug store in West Hempstead, NY for $5.25 million. The building is situated on a land area of 1.25 acres. For more information, contact Howard Darsi, Kalmon Dolgin Affiliates, Inc., 101 Richardson Street, Brooklyn, NY 11211; 718-388-7700, Fax 718-782-3755.
The Westfield Group will transfer the Westfield Midway Mall to Centro Properties Group as part of a $550 million deal divesting its shopping centers across the U.S. The mall was not sold outright to Centro, and Westfield will retain five percent interest in the center. The only other OH mall included in the deal is the Richland Mall in Mansfield. The others are located in CO; Los Angeles, CA; Cape Girardeau, MO and Wilmington, NC. For more information, contact The Westfield Group, 11601 Wilshire Boulevard, 11th Floor, Los Angeles, CA 90025; 310-478-4456, Fax 310-478-1267; Email: internet@westfield.com ; Web site: www.westfield.com .
Sperry Van Ness completed the sale of an 11,180 sq.ft. Rite Aid site to a private investor group for $2.949 million. The building is located on North Market Street in Wilmington, DE. The seller was Wilmarket Partners. The company also is selling three 7-Eleven convenience stores with gas stations at a 7.5% Cap rate. The sites have new 20-year leases with four, five-year extension options and 7.5% rent increases every five years. For more information, contact David Ebeling, Sperry Van Ness, 18881 Von Karman, Suite 800, Irvine, CA 92612; 949-225-1883, Fax 949-251-9200; Web site: www.svn.com . For more information regarding the 7-Eleven stores, contact Michelle Trombley at 949-225-1890 or Greg Trombley at 949-225-1823; Emails: michelle.trombley@svn.com and greg.trombley@svn.com .
C & K Properties is looking to acquire a 1031 exchange property in an urban market, such as New York, NY. The company is looking for deals ranging from $10 million to $100 million for retail and office buildings. C & K also would consider joint ventures. For more information, contact Meir Cohen, C & K Properties, 675 3rd Avenue, Suite 2400, New York, NY 10017; 212-279-9000 Ext. 203, Fax 212-604-0057; Email: morrisb@candkproperties.com .
United Equities Corp. is selling the following sites: Super Stop convenience stores and Modern and Conoco branded gas and convenience stores. The properties have 20-year absolute net leases with two, 10-year options, 7.5% Cap rates and 10% rent increases every five years. For more information, contact Arnold Kramer, United Equities Corp., 2 North LaSalle Street, Suite 1776, Chicago, IL 60602; 312-332-5652 Ext. 88, Fax 312-803-9652; Email: akramer@unitedeq.net .
Winick Realty Group represented both the buyers and the sellers in each of the following transactions throughout NJ and NY: 2856-2860 Steinway Avenue in Queens, NY; 130 Dyckman Street in New York, NY; 2016-2022 Avenue U in Brooklyn, NY; 116 Broad Street in Elizabeth, NJ; 815 Broadway and 835 Broadway in Brooklyn, NY and 146 Grand Main Street in Paterson, NJ. For more information, contact Zach Mishaan, Winick Realty Group, 655 Third Avenue, New York, NY 10017; 212-792-2622, Fax 212-792-2660; Web site: www.winick.com .
Metrovest is selling a 35,000 sq.ft. outparcel attached to a 260,000 sq.ft. center and a proposed Wal*Mart Supercenter development on Route 13 in Cortland, NY. The site is located 1.5 miles southwest of Route 81. Area retail includes Price Chopper, Kmart, Tractor Supply Company, Payless Shoes, Radio Shack, Fashion Bug, Applebee’s and JCPenney. For more information, contact Russell Freeman, Metrovest, 731 Lexington Avenue, New York, NY 10022; 917-676-7913; Email: rbenfreem@yahoo.com ; Web site: www.metrovest.com .
NAI BT Commercial is selling a 38,000 sq.ft. Gold’s Gym location in O’Fallon, MO for $8 million. There is an increase of 5% after 10 years and similar increases in the option periods. The tenant is responsible for taxes, insurance and maintenance including the parking lot. For more information, contact Michael Maffia, NAI BT Commercial, 415-677-0478, Fax 415-956-3381; Email: pdaily@naibtcommercial.com .
R&R Commercial Realty, Inc. sold three Food Lion-anchored centers located in Dover and Smyrna, DE. The company also is marketing another small center with flex warehouse space and a self-storage space in Dover, DE, as well as other retail and warehouse opportunities. For more information, contact Charlie Rodriguez, R&R Commercial Realty, Inc., 46 South State Street, Dover, DE 19901; 302-674-3400, Fax 302-674-8479; Email: ccrod1@aol.com .
The Shopping Center Group, LLC is selling an Eckerd drug store located in Atlanta, GA with a Cap rate of 7.25%. The site has 18 years remaining on a primary term with options and is located across the street from an 800,000 sq.ft. center. For more information, contact J. Tyson Glasser, The Shopping Center Group, LLC, 3101 Towercreek Parkway, Suite 200, Atlanta, GA 30339; 770-955-2434, Fax 770-951-0054.
Fidelis Properties, Inc. is looking to acquire any type of project of any size with a minimum price of $2 million. The company is looking to acquire land that is raw or partially entitled that can be value added by rezoning to residential, multi-family or commercial, change of use, subdivided or a combination of all three; multiple parcels that can be assembled into a single parcel/project. The company also is looking for commercial sites that are problem properties with upside or “perfect” properties at a discount of 50% or more. The company will acquire any building with large or total vacancy or other problems that can be fixed. A site in good condition is preferred, but the company will acquire sites in poor condition. Fidelis also will acquire assisted living or hospitals and medical offices that can be converted, any type of commercial building with land or assets that can be sold off for enough to pay off the remaining structure; mobile home parks that can be subdivided into two separate RV pads. For more information, contact Lucas Hoppel, Fidelis Properties, Inc., 760-717-1121; Emails: info@socalcia.com and uslukemc@hotmail.com .
A broker is selling the following sites throughout CT: apartment buildings, industrial buildings, shopping centers and multi-family packages. For more information, contact Michael Rimkie, 860-482-8888; Email: rimkie@gmail.com .
Properties of GA, LLC is selling a land area of 46 acres located one mile south of Interstate 20 on Salem Road in Rockdale County, GA for $155,000 per acre. The property is to be sold in its entirety and is the commercial/mixed-use portion of a master-planned community consisting of more than 1,100 homes that exist or that are under construction. Additionally, there is 1,250 sq.ft. of frontage on Salem Road. The property has recently been rezoned and has been granted an additional traffic signal on Salem Road. For more information, contact Jim Hazelwood, Properties of GA, LLC, 390 Society Street, Alpharetta, GA 30022; 404-408-4408, Fax 770-667-0713; Email: jimhaz@bellsouth.net .
Palmer & Cay Properties, Inc. is selling two Walgreens stores in TX for $5.2 million and $5.016 million, respectively. The sites are ideal for 1031 exchanges. For more information, contact Charles R. Stewart, Palmer & Cay Properties, Inc., 2 East Bryan Street, Suite 400, Savannah, GA 31401; 912-234-8033, Fax 912-238-3548; Email: cstewart@palmercayproperties.com .
National Retail Properties, Inc. is selling 19 Taco Bell restaurants located throughout IL, IN and KY. The sites range in price from $888,889 to $2.5 million and have Cap rates of 6.5% to 7.25%, new 15-year leases and 2% annual rent increases. For more information, contact Rebecca Gittens, National Retail Properties, Inc., 450 South Orange Avenue, Suite 900, Orlando, FL 32801; 407-650-1253, Fax 407-650-1046; Web site: www.nnn1031.com .
Zickler Associates, LLC sold Lynhurst Shoppes, a 12,000 sq.ft. center located on South Lynhurst Drive in Indianapolis, IN. Tenants include Acceptance Insurance, French Nails, All Star Liquors and Whiskey River Bar and Grill. The center is currently 100% occupied. For more information, contact Rachael R. Phillips, Zickler Associates, LLC, 317-271-8888 Ext. 20, Fax 317-271-2309; Web site: www.zicklerassociates.com .
Trammell Crow Co. negotiated the sale of Herndon Village Shoppes, a center located on East Colonial Drive in Orlando, FL. The center is situated on a land area of 5.6 acres. The seller was Michael Collard Properties. For more information, contact Brad Peterson, Trammel Crow Co., 1200 Abernathy Road, Building 600, Suite 1600, Atlanta, GA 30328; 770-290-0752; Web site: www.trammellcrow.com .
J. Chicoola Realty is representing clients looking to acquire centers in the northern OH market from between $700,000 and $1.2 million and $3 million to $5 million. For more information, contact Bill Hsu, J. Chicoola Realty, 330-896-7677; Email: billhsu@myepath.com .
Chambre & Co., Inc. is representing a 1031 buyer with $2.7 million for an exchange. The buyer is looking to an NNN tenant with a 7.5% to 8% Cap rate. For more information, contact Joshua Schwab, Chambre & Co., Inc., 355 Lexington Avenue, New York, NY 10017; 212-697-7171, Fax 212-697-7114.
Block & Co., Inc. represented NC Retail Plaza, LLC in the sale of the 12,100 sq.ft. New Century Shopping Center located on Lincoln Lane in Gardner, KS. The fully-leased center is tenanted by At The Beach, Quiznos, Domino’s, Cash America and a proposed El Matador Mexican restaurant. For more information, contact Monique Scritchfield, Block & Co., Inc., 605 West 47th Street, Suite 200, Kansas City, MO 64112; 816-753-6000, Fax 816-412-7401; Web site: www.blockandco.com .
GVA Advantis closed on the sale of Central Park Plaza, a 29,442 sq.ft. center located on West Oakridge Road in Orlando, FL for $4.2 million. For more information, contact Sasha Pardy, GVA Advantis, 255 South Orange Avenue, Suite 1350, Orlando, FL 32801; 407-999-4775; Email: spardy@gvaadvantis.com ; Web site: www.gvaadvantis.com .
A private investor is working with a buyer looking to acquire multiple retail properties throughout MA, east of Worcester, to Boston and New Bedford. The following highlights of the site acquisition criteria: high levels of population density within a one, two and three-mile radius; more than 40% renters, 3,000 sq.ft. buildings with parking for 15 cars or development land. For more information, contact Joe Luca, 401-580-9797, Fax 619-489-0482.
Michael A. Rivera is selling a land area of 11.53 acres at the intersection of Immokalee Road and State Route 951 in North Naples, FL for $9.794 million. The site is allocated for a 105,000 sq.ft. retail center. This outparcel location is in the entryway of a master-planned PUD called Heritage Bay. For more information, contact Michael A. Rivera, 239-770-6257, Fax 239-495-2066; Email: invest@e-realtyinfo.com .
Trezevant Realty Corp. is selling a Huddle House restaurant located on Highway 12 in Starkville, MS for $1.6 million with a Cap rate of 7.5%. The restaurant currently has a 15-year NNN lease. Area retail includes Lowe’s Home Improvement Center and Wal*Mart Supercenter. The company also is selling a Huddle House restaurant located in Cleveland, MS for $1.2 million with a Cap rate of 7.5%. The restaurant currently has a 15-year NNN lease and is situated on a Wal*Mart Supercenter outparcel. The company also is selling an 8,000 sq.ft. Aaron’s Rent store located in Clarksdale, MS for $1 million with a Cap rate of 8%. The store currently has a 15-year NNN lease and is located directly across from a Wal*Mart Supercenter. For more information, contact Barry Maynard, Trezevant Realty Corp., 9063 Corporate Gardens Drive, Germantown, TN 38138; 901-755-6040, Fax 901-755-6243.
York Investments Corp. is representing a client looking to acquire a center in Miami-Dade County, FL for a 1031 between $3 million and $3.3 million. For more information, contact Elizabeth Espinosa, York Investments Corp., 305-962-1618.
One Source Realty, LLC is representing clients looking to acquire shopping centers in the Fort Lauderdale, Tampa, Orlando or Jacksonville, FL areas for up to $20 million. The centers must have some restaurants as tenants; NNN is preferred, along with mid-range Cap rates. Properties not listed are preferred. For more information, contact Adrienne Brown, One Source Realty, LLC, 401 East Oakland Park Boulevard, Fort Lauderdale, FL 33334; 954-567-4428, Fax 954-430-8298; Email: a@asellssf.com .
Greenway Investment Co. acquired a land area of 6.2 acres near the intersection of Interstate 30 and Collins Street in Fort Worth, TX. The property is located just east of the new Mediterranean Villa meeting and wedding center. General Motors sold the property. The location will have access from a westbound ramp from Interstate 30. For more information, contact Greenway Investment Co., 2808 Fairmount, Suite 100, Dallas, TX 75201; 214-880-9009, Fax 214-880-0188; Web site: www.greenwayinvestment.com .
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