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Buyers & Sellers
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Buyers & Sellers Wellington Capital Group, Inc. is selling a center located in Anderson, SC for $32.62 million. Over 85% of the tenants are national and the center is currently 92.6% occupied. Anchors include Bed Bath & Beyond, Old Navy and Ross Dress For Less. The Cap rate is 6.86%. For more information, contact Bill Perez, Wellington Capital Group, Inc., 12797 Pineacre Court, Suite 200, Wellington, FL 33414; 561-784-7955.
Garay Interests, LLC is looking to acquire a retail, office or industrial property within a three-hour drive from San Francisco, CA for between $6 million and $8 million. The property must be at least Class B with multiple tenants and proximity to a neighborhood retail center is a plus. For more information, contact Mark M. Garay, Garay Interests, LLC, One Embarcadero Center, Suite 1200, San Francisco, CA 94111; 415-399-0100, Fax 415-399-1616; Email: garayllc@pacbell.net.
For more information, contact Anthony J. McDowell, 201 Creek Drive, Seneca, SC 29631; 864-882-6918 or 864-467-7888.
The Good Group is representing an exchange buyer looking for one or two NNN Walgreens or CVS drug stores located in southwest FL with a minimum of 15 years remaining on the lease, and with no debt to assume. 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.
Discovery Realty Advisors, Inc. is selling a 7,000 sq.ft. Advance Auto Parts store located in Denver, CO for $2 million. The lease has 15 years with a 5% rent increase after 10 years with three, five-year options with increases. For more information, contact Ray D. Kreger, Discovery Realty Advisors, Inc., 621 NW 53rd Street, Suite 240, Boca Raton, FL 33487; 561-276-1031; Email: investments@discoveryrealty.com.
Marcus & Millichap Real Estate Investment Brokerage Co. sold a Sheetz convenience store located in New Castle, PA for $1.71 million. The New Castle store is the company’s newest prototype. For more information, contact Jeffrey Algatt, Marcus & Millichap Real Estate Investment Brokerage Co., 1628 JFK Boulevard, Suite 1200, Philadelphia, PA 19103; 215-557-0900, Fax 215-557-0966.
Nassimi Realty Corp. completed the acquisition of North Eastwood Shopping Center, a 180,000 sq.ft. center located at the intersection of North Post Road and East 38th Street in Indianapolis, IN. The center is anchored by Kroger and is cotenanted by Big Lots, Family Dollar, Rent-A-Center and Athlete’s Foot. Occupancy is currently 90%. Nassimi acquired the center from North Eastwood, LLC. For more information, contact Nassimi Realty Corp., Seven Penn Plaza, 370 Seventh Avenue, Suite 1700, New York, NY 10001; 610-687-0807; Web site: www.nassimirealty.com.
NewMark Merrill Cos. acquired Stratford Plaza, a 358,000 sq.ft. center located at the intersection of Gary Avenue and Schick Road in Bloomingdale, IL for $50 million. The center is currently 96.4% leased and is tenanted by Big Kmart, Dominick’s Grocery Store, The Sports Authority, PetsMart, Outback Steakhouse, Ruby Tuesday’s and Shoe Carnival. Area retail includes Stratford Square Mall, a 1.3 million sq.ft. mall. For more information, contact Leticia S. Wilson, NewMark Merrill Cos., 5850 Canoga Avenue, Suite 650, Woodland Hills, CA 91367; 818-710-6100, Fax 818-710-6116; Email: lwilson@newmarkmerrill.com; Web site: www.newmarkmerrill.com.
Commercial Services Group is representing clients looking to acquire retail sites and lifestyle and neighborhood centers throughout SC. Second and third tier markets are suitable and the company can also acquire portfolios. Requirements include a 7.5% Cap rate, an 85% occupancy and supermarket-anchored centers. For more information, contact Scott Hodges, Commercial Services Group, 902 Savannah Highway, Charleston, SC 29407; 843-769-5100, Fax 843-725-3765; Email: scott.hodges@agentowned.com.
Faris Lee Investments completed the acquisition of a 24 Hour Fitness location on North Scottsdale Road in Scottsdale, AZ for $12.75 million to Bay Harbor Management. For more information, contact Faris Lee Investments, 2301 Dupont Drive, Suite 100, Irvine, CA 92612; 949-221-1800, Fax 949-221-1830; Email: info@farislee.com; Web site: www.farislee.com.
Garrick-Aug Associates Store Leasing, Inc. is representing a European-based investor group with $1 billion to acquire properties in the U.S. market. The investor requires single-tenant, NNN-leased office or retail sites with at least 15 years left on the base, a BBB rating or better and a Cap rate of no less than 6.25%. For more information, contact Richard K. Kave, Garrick-Aug Associates Store Leasing, Inc., 360 Lexington Avenue, New York, NY 10017-6502; 212-850-0246, Fax 212-983-7192; Email: rkave@garrick-aug.com.
Net Leased Investment Co. is selling a 12,738 sq.ft. freestanding Eckerd drug store located on Hunter Street in Apex, NC for $5.33 million with a Cap rate of 6.5%. The building is situated on a land area of 1.98 acres and has a 20-year NN lease with four, five-year options. For more information, contact Bob Fraser, Net Leased Investment Co., 120 Alexandria Boulevard, Suite 18, Oviedo, FL 32765; 407-977-2448, Fax 407-977-0775; Email: bobfraser@netleased.com.
NAI Horizon sold the following properties: Plaza de Colores, a 43,809 sq.ft. center located on South Rainbow Boulevard in Las Vegas, NV for $8.25 million; Camelot Square, an 81,535 sq.ft. center located on East Missouri in Las Vegas, NV for $6.6 million; and Whitney Ranch, a 59,883 sq.ft. center located on Stephanie Place in Las Vegas, NV for $6.1 million. For more information, contact NAI Horizon, 6725 Via Austi Parkway, Suite 300, Las Vegas, NV 89119; 702-938-6500; Web site: www.naihorizon.com.
REZA Investment Group, Inc. is representing Passco Cos., LLC in the sale of Kauai Village, a center located on the island of Kauai, HI. The center is anchored by Safeway and Longs Drugs and is cotenanted by Starbucks, Panda Express and Coldstone Creamery. For more information, contact Desiree Hernandez, REZA Investment Group, Inc., 3 Park Plaza, Suite 550, Irvine, CA 92614; 949-271-1169; Email: desiree@rezacompanies.com.
Staubach Investment Sales represented Centennial Trinity Oaks Partners LP in the sale of Trinity Oaks Shopping Center, a 28,164 sq.ft., one-story center located at the intersection of Trinity Mills Road and Midway Road in Carrollton, TX. The center is situated on a land area of 2.37 acres and is currently 100% occupied. For more information, contact Staubach Investment Sales, 15601 Dallas Parkway, Suite 400, Addison, TX 75001; 972-361-5422; Web site: www.staubach.com. |