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Buyers & Sellers
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Buyers & Sellers I.C.A. Realty Corp. is selling an NNN-leased Borders location in Bowie, MD for $6.035 million at a 6.5% Cap rate. The 25,125 sq.ft. store is located on Mitchellville Road at Cloverleaf in Bowie Gateway Center, which has an average daily traffic count of 165,525 vehicles. Tenants include Staples, Pier 1 Imports, PetSmart, Target, Haggarty Furniture and Kohl’s. For more information, contact James Dwoskin, I.C.A. Realty Corp., PO Box 1228, Sag Harbor, NY 11963-0043; 631-725-4300, Fax 631-725-5881; Email: james@icarealty.com; Web site: www.icarealty.com.
The Goldstein Group is selling a John’s Automotive site in Montclair, NJ at 4 Lackawanna Plaza. The 9,000 sq.ft. building sits on a land area of 0.3681 acres. Area retail includes Pathmark, Radio Shack, Dunkin’ Donuts, Hollywood Video, Commerce Bank, Amazon Café and Diva Lounge. For more information, contact Ryan D. Glastein or Lew Finkelstein, The Goldstein Group, Glen Rock Plaza, 266 Harristown Road, Suite 105, Glen Rock, NJ 07452; 201-703-9700 Ext. 26/22, Fax 201-703-9678; Emails: rglastein@thegoldsteingroup.com and lfinkelstein@thegoldsteingroup.com; Web site: www.thegoldsteingroup.com.
NAI Pyramid Brokerage Co., Inc. is selling a Fresno’s restaurant location in Troy, NY on River Street. The 9,590 sq.ft. site is listed for $2.5 million. The average daily traffic count is 12,044 vehicles. Nearby draws include Rensselaer Polytechnic Institute, Russell Sage College and Samaritan Hospital. The company is also selling a former Ames Department Store property on NYS Route 11 in Gouverneur, NY. Area retail includes P&C Supermarkets, Kinney Drugs, McDonalds and Big M Supermarket. The company is also selling a former Cantina del Rio property on Center Place Drive in Rochester, NY for $1.3 million. The 8,720 sq.ft. building is situated on a 2.91-acre parcel. Area retail includes Pizzeria Uno. Nearby draws include the Hampton Inn, Kodak Park and Greece Ridge Center. For more information regarding the Fresno’s location and Cantina del Rio location, contact Neville Gruenberg, NAI Pyramid Brokerage Co., Inc., 5786 Widewaters Parkway, PO Box 3, Dewitt, NY 13214; 315-445-8510, Fax 315-445-2074. For more information regarding the property in Gouverneur, NY, contact Dominic Pavia, NAI Brokerage Co., Inc., 555 French Road, Suite 203, New Hartford, NY 13413; 315-736-0856, Fax 315-736-0872; Email: dpavia@pyramidbrokerage.com; Web site: www.pyramidbrokerage.com.
Vornado Realty Trust is selling a 47,000 sq.ft. Toys “R” Us location in Lansing, IL. The property is located in the Landings Shopping Center on Torrance Avenue with tenants including Wal*Mart, Home Depot, AJ Wright and Burlington Coat Factory. Area retail includes Sears, JCPenney, Marshall Field’s, Carson Pirie Scott and River Oaks Mall. Area demographics include a population of 873,549 within 10 miles earning $58,625 as the average household income. The company is also selling a 46,000 sq.ft. Toys “R” Us location in Jackson, MS. The property is located on Highway 80 West across from the Metrocenter Mall, which is tenanted by Sears and McRae’s. Area demographics include a population of 236,243 within 10 miles earning $51,247 as the average household income. The company is also selling a 63,000 sq.ft. freestanding Toys “R” Us location in Akron, OH on Romig Road; a 49,000 sq.ft. freestanding Toys “R” Us in Columbia, SC on Two Notch Road; a 46,000 sq.ft. freestanding Toys “R” Us site in Abilene, TX on Ridgemont Drive; a 23,000 sq.ft. freestanding Toys “R” Us site in San Angelo, TX on Sunset Drive; a 31,000 sq.ft. freestanding Toys “R” Us location in Victoria, TX on North Navarro; a 46,000 sq.ft. Toys “R” Us site in Ogden, UT on Riverdale Road and two 46,000 sq.ft. freestanding Toys “R” Us locations in Bellingham, WA on Bellis Fair Parkway and in Federal Way, WA on 20th Avenue South. For more information regarding the Lansing and Jackson Toys “R” Us locations, contact Benjamin Schall or Alma Vieru, Vornado Realty Trust, 888 Seventh Avenue, New York, NY 10019; 212-894-7986/7975; Emails: bschall@vno.com and avieru@vno.com. For more information regarding the other Toys “R” Us locations, contact Alan Mounty or Benjamin Schall; 212-894-7954/7986; Email: amounty@vno.com; Web site: www.vno.com.
First Development Corp. is selling a four-acre property in Bethpage, NY on Hempstead Turnpike. The average daily traffic count is 42,900 vehicles. Area demographics include a population of 166,545 within five miles earning $86,141 as the average household income. For more information, contact Stuart Kramer, First Development Corp., 1328 Motor Parkway, Hauppauge, NY 11749; 631-234-3200, Fax 631-234-3695.
WP Realty is looking to acquire open-air or enclosed shopping centers that are anchored or have vacant anchor space from ME to VA. The properties must have a minimum GLA of 100,000 sq.ft. and have at least a 15% vacancy. The company prefers sites with high vacancies, outdated designs, large blocks of space with near term expirations and properties that are absentee managed. For more information, contact Jeffrey Hoffman, WP Realty, 940 Haverford Road, Bryn Mawr, PA 19010; 610-552-6072, Fax 610-552-6091; Email: jhoffman@wprealty.com; Web site: www.wprealty.com.
Mark A. Williams Realty is looking to acquire strip centers priced between $8 million and $20 million in NJ, lower NY state and New York, NY. For more information, contact Mark Williams, Mark A. Williams Realty, 243 St. Mark’s Avenue, Brooklyn, NY 11238; 718-390-7117; Email: markawilliamsrealty@comcast.net.
Sperry Van Ness sold for $7.4 million a 20,494 sq.ft. Food 4 Less-anchored center, located on Alessandro Boulevard in Moreno Valley, CA. The company represented the seller, OPT Moreno Valley, LLC, in the sale to Marion Center, LLC, represented by Hanley Brown Group. Tenants include Red Persimmon Nail Salon, WW Fashions, TNT Pizza and Rancho Dental Group. For more information, contact David Ebeling, Sperry Van Ness; 949-225-1883; Email: david.ebeling@svn.com; Web site: www.svn.com.
Resource Commercial Real Estate, LLC is selling a former Toys “R” Us property in Indianapolis, IN. The 41,633 sq.ft. building is located on West 38th Street and is situated on 11 acres. The average daily traffic count is 54,476 vehicles. Area retail includes Lafayette Square Mall. For more information, contact Joe Tarpey, Resource Commercial Real Estate, LLC, 280 East 96th Street, Suite 350, Indianapolis, IN 46240; 317-663-6555, Fax 317-663-6554; Email: jtarpey@resourcecre.com; Web site: www.resourcecre.com.
Park Avenue Commercial Realtors is selling Lyncourt Plaza in Syracuse, NY for $975,000. The 10,310 sq.ft. strip center is located at the intersection of Teal Avenue and Court Street and currently houses three tenants. There is a 12,000 sq.ft. outparcel on the site. For more information, contact Howard D. Kravetz, Park Avenue Commerical Realtors, 649 Park Avenue, Rochester, NY 14607; 585-329-4600 Ext. 148, Fax 585-473-3186; Email: howard@parkavenuerealtors.com; Web site: www.parkavenuerealtors.com.
Colliers Dow & Condon is selling a 108-acre site located at the intersection of Middletown Road and Route 9 in Berlin, CT for $13 million. The company is also selling a 23-acre site located on Berlin Turnpike in Berlin, CT for $4.9 million. The company is also selling a four-acre site on Governor Street in East Hartford, CT for $1.3 million. There is a 30,000 sq.ft. building on the site. Area demographics include a population of 256,726 within five miles earning $41,663 as the average household income. For more information regarding the Berlin sites, contact Nicholas R. Morizio, Colliers Dow & Condon, 864 Wethersfield Avenue, Hartford, CT 06114; 860-249-6521, Fax 860-247-4067; Email: morizio@dowcondon.com; Web site: www.colliersdow.com. For more information regarding the East Hartford site, contact Colliers Dow & Condon. |