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Buyers & Sellers
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Buyers & Sellers The Rotella Group, Inc. is selling Buning The Florist Building located on West Commercial Boulevard in Tamarac, FL. The site has 14,500 sq.ft. of flexible space and is suitable for retail/showroom/office use with a warehouse component. The company also is selling a 5,150 sq.ft. freestanding building located on Stirling Road, just east of the Davie Road extension, in Davie, FL. The company also is selling a 6,500 sq.ft. Blockbuster Video store at the intersection of Atlantic Boulevard and Coral Ridge Drive in Coral Springs, FL. For more information, contact Steven M. Miller, The Rotella Group, Inc., 3300 North Federal Highway, Suite 200, Fort Lauderdale, FL 33306; 954-568-9015, Fax 954-568-9597; Email: steve@rotellagroup.com .
Lee & Associates of Madison is selling a Caribou Coffee-anchored center in Monona, WI with a Cap rate of 7.61%. The site has 10,247 sq.ft. of ground floor retail underneath a new residential condominium project. Cotenants include U.S. Cellular, Papa Murphy’s and Fantastic Sam’s. For more information, contact Steve Doran, Lee & Associates of Madison, 4726 East Towne Boulevard, Suite 220, Madison, WI 53704; 608-327-4000, Fax 608-237-2117; Email: sdoran@lee-associates.com . Trezevant Realty Corp. is selling the following sites: a land area of 23 acres at the intersection of Houston Levee Road and East Shelby Drive, approximately 0.25 miles from the Carriage Crossing Lifestyle Center, in Collierville, TN for $8.015 million; a land area of 115 acres at the intersection of Highway 72 and Highway 302 in Marshall County, MS for $2.875 million; a land area of 1.257 acres on Highway 72 in Collierville, TN for $328,000; a land area of 12 acres on Goodman Road in DeSoto County, MS; a land area of 3.087 acres located just off Poplar Avenue and Poplar View Parkway in Collierville, TN for $1.05 million; and a land area of 7.6 acres on Highway 57 in Rossville, TN for $1.091 million. For more information, contact Barry Maynard, Trezevant Realty Corp., 9063 Corporate Gardens Drive, Germantown, TN 38138; 901-755-6040, Fax 901-755-6243; Emails: bm@trezevantrealty.com and fg@trezevantrealty.com ; Web site: www.trezevantrealty.com .
Retail Strategies, LLC is selling a 5,400 sq.ft. retail site located on Mamaroneck Avenue in White Plains, NY. For more information, contact Pamela Strauss, Retail Strategies, LLC, 245 Main Street, Suite 330, White Plains, NY 10601; 914-921-6100, Fax 914-921-6312; Email: pstrauss@retailstrategies.com .
Henzlik-Oliver Real Estate Cos., LLC acquired Park Center Shopping Center, a 97,000 sq.ft. center located in Chillicothe, MO. For more information, contact Tyler S. Oliver or Douglas L. Henzlik, Henzlik-Oliver Real Estate Cos., LLC, 13356 Metcalf, Overland Park, KS 66213; 913-438-9900, Fax 913-438-9900; Web site: www.henzlikoliver.com .
PM Realty Group brokered the sale of Market at Summer Oaks, an 87,347 sq.ft. center located on the north side of Summer Avenue, just west of North Perkins Road and south of Interstate 40, in Shelby County, TN. The center is situated on a land area of eight acres. The site is shadow-anchored by Aldi and Harbor Freight. Area retail includes Lowe’s Home Improvement. For more information, contact Stacy Sarault, PM Realty Group, 910 Travis, Suite 1000, Houston, Texas 77002; 281-335-0200; Web site: www.pmrg.com.
Palmer & Cay Properties, Inc. is selling a 19,000 sq.ft. Office Depot store in FL for $3.5 million. 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.
Southern Management and Development, LP is looking to acquire properties throughout FL, with a focus on the southern part of the state. Preferred sites range from 1.4 acres to 10 acres. For more information, contact Flynt H. Griffin, Southern Management and Development, LP, 925 South Federal Highway, Boca Raton, FL 33432; 561-948-7125, Fax 561-948-7120.
Property Group International is representing a client looking to acquire NNN ground leases with annual increases of at least 2% and a price range over $1.5 million. For more information, contact Ethan Alvidrez, Property Group International, 4695 MacArthur Court, 11 th Floor, Newport Beach, CA 92660; 949-251-2024, Fax 949-606-0401; Email: ealvidrez@pgire.com .
Southeast Capital Associates, LLC is selling a 12,000 sq.ft. Dollar General/Movie Gallery location in Andrews, SC for $865,000. The building is situated on a land area of 1.25 acres and generates an NOI of $79,193. For more information, contact Gary Stephens, Southeast Capital Associates, LLC, 1401 West Morehead Street, Suite 125, Charlotte, NC 28208; 704-370-3000, Fax 704-370-6507.
Whichard Real Estate, Inc. sold Spalding Woods, an 83,000 sq.ft. center located in Fulton County, GA. The center is anchored by Outback Steakhouse, Lenscrafters and Dollar Tree. For more information, contact Kenneth Whichard, Whichard Real Estate, Inc., PO Box 31062, Raleigh, NC 27622; 919-786-1234, Fax 919-510-5445; Email: kwre@aol.com .
Hanley Brown Group Real Estate Advisors represented the seller in the sale of a single-tenant NNN leased investment with Hollywood Video in Moreno Valley, CA. The 5,000 sq.ft. building sold for $2.055 million with a Cap rate of 6%. The building is located at the intersection of Indian Street and Alessandro Boulevard and is situated on a land area of 0.74 acres. Area retail includes Food 4 Less, McDonald’s and a Mobil gas station. The company also represented the seller in the sale of Margarita Square, a center located at the intersection of Highway 79 and Margarita Road in Temecula, CA. The 11,775 sq.ft. center sold for $7.5 million with a Cap rate of 5.35%. The project is an outparcel to a center anchored by Albertsons/Sav-on, Home Depot and Staples. The project is tenanted by Cingular Wireless and Postal Annex. For more information, contact Eric P. Wohl, Hanley Brown Group Real Estate Advisors, 949-585-7610; Web site: www.hanleybrown.com .
Stan Johnson Co. is selling the following sites: a Family Dollar store in Winston-Salem, NC for $983,000 with a Cap rate of 7.25%; a Kauffman Tire store in Hurst, TX for $1.683 million with a Cap rate of 7.75%; a Logan’s Roadhouse restaurant in Abilene, TX for $1.635 million with a Cap rate of 5.51%; a Staples store in Mattoon, IL for $3.525 million with a Cap rate of 7.5%; a Starbucks shop in Beech Grove, IN for $1.35 million with a Cap rate of 6%; a Tractor Supply Co. store in Corinth, MS for $3.3 million and a Wendy’s restaurant in Swainsboro, GA for $993,000 with a Cap rate of 7.25%. For more information, contact Michael Cropper, Stan Johnson Co., Two Warren Place, 6120 South Yale Avenue, Suite 813, Tulsa, OK 74136; 918-494-2690, Fax 918-494-2692; Email: mcropper@stanjohnsonco.com ; Web site: www.stanjohnsonco.com .
Twin Rivers Capital, LLC is selling a land area of one acre on Ocilla Highway in Fitzgerald, GA. The site is located across from McDonald’s. For more information, contact Mandy Coleman, Twin Rivers Capital, LLC, 57 Hasell Street, Charleston, SC 29401; 843-722-9925, Fax 843-722-9947; Email: mandy@twinriverscap.com ; Web site: www.twinriverscap.com .
Discovery Realty Advisors, Inc. is selling a Verizon Wireless store in Greenville, NC for $2.003 million with a Cap rate of 7.5%. The site has two, five-year options with 10% increases. For more information, contact Ray D. Kreger, Discovery Realty Advisors, Inc., 621 NW 53 rd Street, Suite 240, Boca Raton, FL 33487; 561-276-1031; Email: investments@discoveryrealty.com .
Phase One Realty is selling Sherwin-Williams stores in Katy and Springs, TX. Both stores are over 8,000 sq.ft. and have 10-year NN leases. The asking prices are $1.6 million and $1.55 million, respectively, with 6% Cap rates. For more information, contact Robert H. Fippinger, Phase One Realty, Inc., PO Box 22865, Santa Fe, NM 87502, 2011 Botulph Road, Santa Fe, NM 87505; 505-986-2942, Fax 505-988-5134; Email: rhf@phaseonerealty.com .
Griffin Properties is representing a client looking to acquire operating or non-operating gas stations. The company needs 20 to 50 freestanding service stations. For more information, contact Patrick D. Winter, Griffin Properties, 29433 Southfield Road, Suite 200, Southfield, MI 48076; 248-443-9000, Fax 248-443-9001; Email: pwinter@griffinproperties.com . Allegro Realty Advisors, Ltd. is selling a 42,980 sq.ft. Office Depot store in Lima, OH for $3.85 million with a Cap rate of 8.62%. There is 4.5 years remaining on an initial 15-year term. For more information, contact Jon Vanderplough, 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 .
Midland Atlantic Properties represented Home Depot in the acquisition of 10.516 acres at West Carmel Marketplace, a center located in Carmel, IN. The seller was Duke Construction. For more information, contact Kelly Skeens, Midland Atlantic Properties, 9000 Keystone Crossing, Suite 850, Indianapolis, IN 46240; 317-580-9900, Fax 317-580-1169; Email: kskeens@midlandatlantic.us .
Quine & Associates, Inc. is selling a Dollar General store located in Dallas, TX for $725,000. The store has a new 10-year lease. For more information, contact Douglas Wilder, Quine & Associates, Inc., 301 South Sherman, Suite 100, Richardson, TX 75081; 972-669-8440 Ext. 242, Fax 972-783-8901; Email: dwilder@quine.com . Oxford Real Estate is selling a land area of two acres on Federal Road in Danbury, CT for $2.6 million. The site is located on the Golden Mile near Stew Leonards. For more information, contact Michael Berke, Oxford Real Estate, 388 East Main Street, Branford, CT 06405; 203-483-2900, Fax 203-483-2999; Email: oxfordre@aol.com .
Lormax Properties is looking to acquire distressed or underperforming centers with a GLA of at least 100,000 sq.ft. For more information, contact N. Ross Fisher, Lormax Properties, 6755 Daly Road, West Bloomfield, MI 48322; 248-737-7110, Fax 248-282-5205; Web site: www.lormaxproperties.com .
NAI Ohio Equities is selling June Parkway Plaza, an 18,000 sq.ft. center located in Zanesville, OH for $2.1 million with a Cap rate of 8.36%. The center is tenanted by Advance America, H&R Block, Country Dollar, Phone Depot and Curves. The current NOI is $175,619. For more information, contact Michael Zelnik or Patrick Dwyer, NAI Ohio Equities, 605 South Front Street, Suite 200, Columbus, OH 43215; 614-629-5280/5282; Web site: www.44ohio.com .
Costa Land Co. is selling Robinson Crossroads, a 138,944 sq.ft. center located on Steubenville Pike in Pittsburgh, PA for $32 million with a Cap rate of 5.75%. The center is anchored by Giant Eagle, Staples and Pep Boys. The NOI is $1.8 million. Assumable financing of $21 million is available. For more information, contact Joseph Clark, Costa Land Co., 600 Grant Street, Suite 3010, Pittsburgh, PA 15219; 412-394-9803, Fax 412-594-4099.
Lynch Realty Group, LLC is selling a 14,108 sq.ft. center located in West Allis, WI for $4.98 million. The center is currently 90% leased and has an NOI of $347,408. For more information, contact Kevin P. Lynch, Lynch Realty Group, LLC, 505 North Lakeshore Drive, Suite 4205, Chicago, IL 60611; 312-456-9620.
Innov8tive Commercial Properties is looking to acquire investment-grade real estate nationwide. The sites must meet the following criteria: values of $5 million and above, with preferences of $10 million and up; no debt to be assumed, single-tenant NN or NNN properties. The company will also consider select shopping centers. For more information, contact Eric A. Certenberg, Innov8tive Commercial Properties, 781-354-1032.
Next Realty, LLC acquired Collington Plaza Shopping Center, a 121,790 sq.ft. center located at the intersection of Crain Highway and Excalibur Road in Bowie, MD from a group of private investors. The center is anchored by a 65,000 sq.ft. Giant Food Store and contains 17 smaller cotenants, including Radio Shack, Blockbuster Video, KB Toys, Mattress Discounters and Sally Beauty. The site is adjacent to a Wal*Mart. For more information, contact Joseph Reger, Next Realty, LLC, Two Northfield Plaza, Suite 320, Northfield, IL 60093; 847-881-2000, Fax 847-881-2200; Web site: www.nextrealty.com .
TriStar Realty Group, LLC is selling a land area of 7.17 gross acres in the Branchton area of Tampa, FL for $2.3 million. The site is ideal for pharmacies, fast food restaurants, banks, convenience stores and movie rental stores. Area retail includes Cross Creek Shopping Center, Publix Supermarket, AmSouth Bank, Beef O’Brady’s, Pinch A Penny, Subway and Westshore Pizza. For more information, contact Bill Buffington, TriStar Realty Group, LLC, One Mack-Cali Center, 501 East Kennedy Boulevard, 12 th Floor, Tampa, FL 33602; 813-272-9700, Fax 813-272-9725; Web site: www.tristarrealtygroup.com .
Piedmont Partners Realty is selling a freestanding Dollar General store located in Batesburg-Leesville, SC for $594,000 with a Cap rate of 7.5%. The building is 8,125 sq.ft. and is situated on a land area of 1.58 acres. The 10-year lease commenced in March 2005 with three five-year options. For more information, contact Jerry Hitzemann, Piedmont Partners Realty, 1814 Farrow Drive, Rock Hill, SC 29730; 404-877-0142.
Coldwell Banker Commercial TRIAD Realtors is selling a currently zoned office land area of 3.29 acres in High Point, NC for $1.4 million. The site is directly behind Panera Bread. For more information, contact Paul A. Jones, Coldwell Banker Commercial TRIAD Realtors, 285 South Stratford Road, Suite C, Winston-Salem, NC 27103; 336-748-5342, Fax 336-748-5363.
Casto sold Quincy Mall, a 532,123 sq.ft. mall located in Quincy, IL to Cullinan Properties, Ltd. The mall is located at the intersection of Broadway and 33 rd Street and is situated at a major bridge crossing of the Mississippi River. The mall is anchored by JCPenney, Sears and Bergner’s. For more information, contact Kristin Mack, Casto, 191 West Nationwide Boulevard, Columbus, OH 43215; 614-744-2043. |