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Buyers & Sellers
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Buyers & Sellers Marsh Supermarkets, Inc. is selling four LoBill Foods locations in IN and OH: A 28,671 sq.ft. location on East Washington Street in Winchester, IN for $1.5 million; a 27,716 sq.ft. store on Chester Boulevard in Richmond, IN for $1.7 million; a 39,451 sq.ft. site on Madison Avenue in Indianapolis, IN for $2.5 million; a 32,176 sq.ft. store on Indianapolis Road in Greencastle, IN for $2.15 million and a 36,810 sq.ft. location on Martin Street in Greenville, OH for $2.9 million. The company is also selling a 21,137 sq.ft. Arthur’s Market location on West Pickwick Drive in Syracuse, IN for $2.5 million. For more information, contact Steve Bickel, Lennie Hayes and Bill Marsh, Marsh Supermarkets, Inc., 9800 Crosspoint Boulevard, Indianapolis, IN 46256; 317-594-2338/2333/2334, Fax 317-594-2339; Emails: sbickel@marsh.net, lhayes@marsh.net and bmarsh@marsh.net.
HSM Development, Inc. is selling a property of up to 1.7 acres located on North Meridian Street in Indianapolis, IN. The company will also consider a build-to-suit or ground lease. For more information, contact Travis W. May, HSM Development, Inc., 4328 East State Road, Suite 234, Greenfield, IN 46140; 317-326-1325, Fax 317-326-2385; Email: tmay@hsmdevelopment.com.
Excess Space Retail Services, Inc. brokered the following sales: A 5,880 sq.ft. property on Burns Road in Lilbum, GA sold by KLC to Shining Stars Learning; 7,200 sq.ft. on Clarendon Hills Road in Darien, IL sold by KLC to Board of Education of Hindale Township High School; 30,700 sq.ft. on North Lincoln in Lexington, NE sold by Nash Finch to Lexington EDC and 7,769 sq.ft. on North Monroe Street in Decatur, IL sold by KLC to private investors. For more information, contact Excess Space Retail Services, Inc.; One Hollow Lane, Suite 112, Lake Success, NY 11042; 516-365-6400, Fax 516-365-5125.
Stonemar Properties, LLC acquired Bridgewood Plaza, a 53,500 sq.ft. shopping center in West Des Moines, IA for $11.5 million. The company partnered with Kimco Realty Corp. to acquire the center from Bridgewood Plaza, LLC. Located on South Jordan Creek Parkway, the site is tenanted by Fidelity Bank, Nick and Willy’s Pizza, Krieger’s Pub and Grill, Planet Beach Tanning and Spa, Scooters Coffeehouse, Iowa Realty, TR Wireless, Panchero’s Mexican and Z’Marik’s Noodle Café. For more information, contact Emmet Austin, Stonemar Properties, LLC; 212-324-8300; Web site: www.stonemarproperties.com.
Millennium Properties R/E, Inc. brokered the sale of a 95,650 sq.ft. parcel on South State Street in Chicago, IL for $3.95 million. Robinson Bus Co. sold the land to Aldi, Inc., which will open a store on the site early this year. For more information, contact Daniel J. Hyman, Millennium Properties R/E, Inc., Two First National Plaza, 20 South Clark Street, Suite 630, Chicago, IL 60603-1831.
Colliers Turley Martin Tucker is selling a newly constructed 11,876 sq.ft. shopping center in Bexley, OH for $3.15 million. The site is adjacent to Capital University. Trade-area demographics include an average household income of $89,000. For more information, contact Kevin James, Colliers Turley Martin Tucker; 614-827-1705, Fax 614-241-4701; Email: ktjames@ctmt.com; Web site: www.ctmt.com.
Premier Commercial Realty brokered the sale of Terra Cotta Plaza, a shopping center located in Crystal Lake, IL, for $3.452 million. Dearborn Group, LLC sold the 16,000 sq.ft. site to Cedar Creek Investments, LLC. The center is located at the intersection of Route 176 and Terra Cotta and is tenanted by Alpha Graphics and Cornerstone Bank. There is 5,300 sq.ft. of space available. For more information, contact Bruce Kaplan or Joseph Billitteri, Premier Commercial Realty; 847-854-2300.
REcor Real Estate Corp. of America is selling a 37,000 sq.ft. shopping center located in Minneapolis/St.Paul, MN for $5.6 million. The center is located on Interstate 35 and is tenanted by OfficeMax, Dollar Tree and Famous Footwear. It is adjacent to Wal*Mart Supercenter, Lowe’s Home Improvement and Kohl’s. The NOI is $440,000 annually. For more information, contact Jeffrey S. Draxten, REcor Real Estate Corp. of America, 1907 East Wayzata Boulevard, Suite 140, Wayzata, MN 55391; 952-278-2742, Fax 952-278-2744; Email: jeff@acaciarealestate.com; Web site: www.re-cor.com.
NAI Ohio Equities is selling two Advance Auto Parts stores located in IN and OH. The 7,000 sq.ft. sites are priced at $1.443 million and $1.521 million, respectively. The buildings have 15-year leases with three, five-year options. For more information, contact John Gunnin, NAI Ohio Equities; 614-629-5218; Email: jgunnin@ohioequities.com.
Marcus & Millichap is selling a Burger King location in Chicago, IL for $1.44 million at a 7% Cap rate. Nearby draws include Hegewisch Metra Station and South Shore Commuter Train Station. For more information, contact George M. Ghattas, Marcus & Millichap, 333 West Wacker Drive, Suite 200, Chicago, IL 60606; 312-327-5400, Ext. 5431, Fax 312-327-5410; Web site: www.marcusmillichap.com.
Champion Realty Advisors, LLC is selling 0.689 acres located at the intersection of Hilton Street and Archer Avenue in Willow Springs, IL for $650,000. The site has an average daily traffic count of 18,100 vehicles. For more information, contact Austen Alexa, Champion Realty Advisors, LLC, 3500 Lacey Road, Suite 240, Downers Grove, IL 60515; 630-598-1001, Fax 630-598-1002; Email: austen@championre.com.
Mid-America Asset Management, Inc. brokered the sale of Matt Square, a 10.9-acre site in Matteson, IL. The parcel includes a 90,000 sq.ft. building formerly tenanted by Builders Square. Located on Lincoln Highway, the company represented the seller and the buyer, Thompson Thrift Management, Inc. The buyer plans to open a 50,000 sq.ft. fitness center on the property. For more information, contact Mid-America Asset Management, Inc.; 630-954-7300; Web site: www.midamericagrp.com.
Sperry Van Ness completed the $3.48 million sale of a Damon’s Grill location in Ann Arbor, MI. Servant Investment Fund, LLC, represented by Capital Pacific, sold the site to private investors represented by Sperry Van Ness. The 8,933 sq.ft. building is located at the intersection on Boardwalk Street and is situated on a land area of 1.95 acres. The property has a 20-year lease with two, 10-year options. For more information, contact David Ebeling, Sperry Van Ness; 949-225-1883; Email: david.ebeling@svn.com; Web site: www.svn.com.
NAI MLG Commercial represented the buyer and seller in the sale of a 7,052-sq.ft. location in Pewaukee, WI on West Capitol Drive. Elliot’s Ace Hardware sold the site to RPMC, LLC. The company also represented the buyer and seller in the sale of a 51,364 sq.ft. property in Waukesha, WI on East Moreland Boulevard. B&G Realty, Inc. sold the site to Oppidan Investment Co. For more information, contact Nathan Baer, NAI MLG Commercial, 13400 Bishop’s Lane, Suite 100, Brookfield, WI 53005; 262-797-9400, Fax 262-797-8940; Web site: www.mlgcommercial.com.
Upland Real Estate Group, Inc. is selling Gander Mountain, a sporting goods store situated on 7.09 acres in Fargo, ND, for $8.857 million at a Cap rate of 8.5%. The site is located on 43rd Street Northwest and is 100% tenanted by a single tenant. Area retailers include Home Depot, Famous Dave’s, Wendy’s, Subway, Play It Again Sports, Qdoba Mexican Grill, Old Chicago, IHOP, Bennigans, McDonalds, Papa Murphy’s, Quiznos, Pizza Hut, Culvers and Great Clips. For more information, contact Amanda Leathers, Upland Real Estate Group, Inc., 3800 Wells Fargo Center, 90 South Seventh Street, Minneapolis, MN 55402; 612-436-0045; Email: teamnnn@upland.com; Web site: www.upland.com.
Infiniti Real Estate is selling 20 Burger King locations in AL and FL. In AL, the sites include: a 2,653 sq.ft. location in Dothan for $1.412 million; a 2,654 sq.ft. location in Dothan for $1.2 million; a 2,763 sq.ft. unit in Dothan for $1.6 million; a 3,590 sq.ft. unit in Dothan for $1.6 million and a 2,763 sq.ft. in Troy for $1.644 million. In FL, the sites include: a 3,278 sq.ft. location in Apalachicola for $977,274; a 3,278 sq.ft. location in Blountstown for $1.142 million; a 3,120 sq.ft. unit in Century for $1.302 million; a 6,930 sq.ft. Burger King/Exxon location in Chipley for $1.86 million; a 3,527 sq.ft. Crestview location for $1.715 million; a 3,527 sq.ft. location in Ft. Walton Beach for $1.749 million; a 3,278 sq.ft. unit in Lynn Haven for $1.259 million; a 2,654 sq.ft. location in Marianna for $988,511; a 3,590 sq.ft. store in Marianna for $1.287 million; a 2,763 sq.ft. location in Panama City for $1.199 million; a 2,575 sq.ft. location in Panama City for $1.926 million; a 3,590 sq.ft. location in Panama City for $2.256 million; a 3,278 sq.ft. location in Port St. Joe’s for $1.121 million; a 3,278 sq.ft. Shalimar store for $853,308 and a 2,530 sq.ft. location in Tallahassee for $1.25 million. For more information, contact George W. Thellman, Jr., Infiniti Real Estate; 386-445-5600, Fax 386-986-4696; Email: george@infinit-realty.com.
Lynch Realty Group, LLC is selling Rawson Commons, located in Franklin, WI, for $3.55 million at a Cap rate of 7.5%. The newly built site is 100% leased to three tenants and is NN leased. For more information, contact Kevin P. Lynch; Lynch Realty Group, LLC; 312-622-6024, Fax 312-456-9626; Email: klynch@lynchrealtygroup.com.
U.S. Land Investments, LLC is looking nationwide to acquire single-tenant properties or power centers priced between $25 million to $750 million at Cap rates of 6.9% and up. Sites must be investment grade BBB or better with anchor lease terms of at least eight years NN or NNN. For more information, contact Tobin B. Knight, U.S. Land Investments, LLC, 1430 South Michigan Avenue PH 2, Chicago, IL 60645; 312-235-2834, Fax 312-276-8429; Email: tknight@uslandllc.com ; Web site: www.uslandllc.com .
Freedom Land is selling an Arizona Steakhouse in Atlanta, GA for $2.85 million at an 8% Cap rate. Located at Stonecrest Mall, the 6,500 sq.ft. building is situated on a land area of 1.6 acres. For more information, contact Alphonse Mack, Freedom Land; 770-912-7644; Email: freedompros@hotmail.com.
GMAC Real Estate is representing a client looking to acquire a strip center or small office building in the Chicago, IL area priced in the $1million to $2 million range. The sites must be 100% occupied, NNN leased, with Cap rates of 6.5% or higher. For more information, contact Michael Fisher, GMAC Real Estate, 290 North Randall Road, Suite E, Lake In The Hills, IL 60156; 847-960-8146, Fax 847-960-8246.
CRES, Inc. is selling a 6.5-acre property in Austin, TX for $1.425 million. Located at the intersection of Dessau Road and Shropshire Drive, the site plan includes 20,000 sq.ft. of retail space. For more information, contact David Schoenemann, CRES, Inc., PO Box 91176, Austin, TX 78709-1176; 512-828-6542, Fax 512-828-7419; Email: cresinc@austin.rr.com.
BC Wood Properties is looking to acquire second-generation shopping centers in the Southeast, particularly AL, GA, KY and TN. The company prefers centers that need to be rehabilitated. For more information, contact Chad Gaunce, BC Wood Properties; 859-977-1044; Email: chad@bcwoodproperties.com; Web site: www.bcwoodproperties.com.
ArciTerra Group, LLC is selling Shoppes on 100 in West Allis, WI for $6.2 million. The 14,108 sq.ft. Home Depot-shadow-anchored center is 100% leased by Starbucks, Coldstone Creamery, EB Games, Sprint Nextel, Sports Clips, Jimmy John’s, Johnny V’s Pizza and Adecco. Located at the intersection of West National Avenue and South 108th Street, the site has an average daily traffic count of 60,000 vehicles. Area demographics include a population of 246,761 within five miles earning $80,716 as the average household income. For more information, contact Ryan D. O’Connell, ArciTerra Group, LLC, 2720 East Camelback Road, Suite 220, Phoenix, AZ 85016; 602-424-3419, Fax 602-956-4494; Email: ryan.oconnell@arciterra.com.
Paradise Real Estate, Inc. is selling Freedom Greene, a proposed mixed-use development with approvals in Charlotte, NC, for $4.2 million. The 59.22-acre development consists of 473 residential units, an 18-hole golf course and 24,000 sq.ft. of retail space. For more information, contact Del Ratcliffe, Paradise Real Estate, Inc., 9516 Hood Road, Charlotte, NC 28215; 704-622-0105, Email: dratcliffe@earthlink.net.
Foundation Commercial is selling a Super Market of Shoes location in Dardenne Prairie, MO for $1.625 million at 6.5% Cap rate. The 6,500 sq.ft. property is located within Dardenne Towne Square, a 400,000 sq.ft. power center anchored by Target, JCPenney, SuperValu and Wehrenberg Theatres. The building is leased to Brown Shoes, Inc. for 10 years NNN. For more information, contact John T. Beckman III, Foundation Commercial, 618 Spirit Drive, Suite 250, St. Louis, MO 63005; 314-862-4220, Fax 636-532-7847.
CB Richard Ellis brokered the sales of two restaurant locations in AZ. In Chandler, the company sold a ground-leased Jack in the Box for $1.337 million at a Cap rate of 5.24%. The 1.21-acre site is located at the intersection of Ocotillo Avenue and Arizona Avenue. In Scottsdale, the company sold a single-tenant NNN-leased Wendy’s for $2.525 million at a Cap rate of 5.5%. The 4,300 sq.ft. property is located on North Pima Road. The company is also selling a Hollywood Video location in Shelbyville, TN for $1.65 million at a Cap rate of 8.53%. Area retail includes Wal*Mart Supercenter, Lowe’s Home Improvement, Verizon Wireless and Ruby Tuesday. The 6,400 sq.ft. site is located on North Main Street and is an outparcel to Wal*Mart Supercenter. For more information regarding the AZ properties, contact Steve Fernandez, Jennifer Lunt, Andrew Fosberg or Claudia Jara, CB Richard Ellis, 2415 East Camelback Road, Phoenix, AZ 85016-4290; 602-735-5553/5592/1723/5624, Fax 602-735-5655; Emails: steve.fernandez@cbre.com, jennifer.lunt@cbre.com, andrew.fosberg@cbre.com and claudia.jara@cbre.com. For more information regarding Hollywood Video, contact Paul Gaither, Jim Morris or Will Pike, CB Richard Ellis, 150 4th Avenue North, Suite 2110, Nashville, TN 37219; 615-248-1161/1115 or 404-923-1381 for Will Pike, Fax 615-225-4610 or 404-923-1241 for Will Pike; Emails: paul.gaither@cbre.com, jim.morris@cbre.com and will.pike@cbre.com; Web site: www.cbre.com.
Bergman Real Estate Group is looking to acquire, manage and lease neighborhood strip centers and anchored shopping centers in NJ. For more information, contact Michael DiFede or Jesse Cohen, Bergman Real Estate Group, 555 Route 1 South, Iselin, NJ 08830; 732-855-8600 Ext. 108/116; Web site: www.bergmanrealty.com.
Heslin Holdings, Inc. acquired a 6,341 sq.ft. freestanding Blockbuster Video location in Eagle Rock, CA. The property is situated on one acre of land at the intersection of Colorado Avenue and Eagle Rock Boulevard. For more information, contact Heslin Holdings, Inc.; 949-265-7001. |