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Buyers & Sellers
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Buyers & Sellers Taylor-Zang Retail Group of Marcus & Millichap – Philadelphia negotiated the $4.625 million sale of a 14,550 sq.ft. retail storefront located on Fairfax Pike in Stephens City, VA, representing the buyer and seller. The building is occupied by Walgreens. W Stephen City A, LLC; W Stephen City L, LLC; W Stephen City 1996 T One, LLC and W Stephen City 1996 T Two, LLC acquired the center under a 1031 exchange. The company also brokered the sale of a 12,991 sq.ft. CVS located along Lower Fayetteville Road in Newnan, GA, representing the buyer and seller. CVS 962 GA, LLC sold the property to 1035 Fayetteville Realty, LLC, who acquired it for $3.746 million. The company also brokered the sale of a 13,813 sq.ft. Eckerd located on South 25th Street in Easton, PA, representing the buyer and seller. Cole EK Easton PA, LLC acquired the property from GVH, LP for $5.97 million with a Cap rate of 7.41%. The company also brokered the sale of a 1,600 sq.ft. building leased by PNC Bank and located on Library Road in Bethel Park, PA, representing the buyer and seller. Scott MORF 3, LLC acquired the building from Brentwood Bank for $1.575 million with a Cap rate of 7.62%. The company also negotiated the $3.45 million sale of an 11,800 sq.ft. center located along Stokes Road in Medford, NJ, representing the buyer and seller. Medford Realty Associates, LLC acquired the center from Mat-Jay, LLC. For more information, contact Jeff Algatt, Taylor-Zang Retail Group of Marcus & Millichap – Philadelphia, 8 Penn Center, Suite 1200, 1628 John F. Kennedy Boulevard, Philadelphia, PA 19103; 215-557-0900, Fax 215-207-2701; Web site: www.marcusmillichap.com. Fameco Real Estate is selling Upper Deerfield Plaza, a 111,660 sq.ft. center located in Bridgeton, NJ. Wal*Mart shadow-anchors the site, which is adjacent to the proposed Upper Deerfield Town Center. Area retail includes Acme, Peebles, Fashion Bug and Eckerd. The company is also selling Scott Town Plaza, a 76,000 sq.ft. center located in Bloomsburg, PA. Tractor Supply Co. will anchor the site and a proposed Bennigan’s will cotenant. Area retail includes CVS, Applebee’s, Giant and Weis. Nearby draws include Bloomsburg University and Bloomsburg Municipal Airport. The company is also selling Cross Keys Place, a three-acre site located in Berlin, NJ that is adjacent to a proposed Wal*Mart. For more information, contact Fameco Real Estate, 633 West Germantown Pike, Suite 200, Plymouth Meeting, PA 19462; 610-834-8000, Fax 610-834-1793. EG Realty is selling Mallview Shopping Plaza, a 66,443
sq.ft. center situated on 10 acres at the intersection of Wolcott Street and
Lakewood Road in Waterbury, CT. The center is anchored by a 10-screen movie
theater. Tenants include Church of Hope, Naugatuck Savings Bank, Aldo’s of
Italy, Skye Cable XIII, Inc., Physiotherapy Assoc., Steve Brunetti Academy of
Arts, Weight Watchers, Mr. Wok Chinese Buffet, Dynamite Academy of Gym, The
Barger Shop and Maximum Productions. The NOI is $508,992. The asking price is $8
million. The company is also selling Oaktree Plaza, a 100% leased, 8,418 sq.ft.
center located along Oaktree Avenue in Waterbury, CT. Tenants include Ace Beauty
Supply, Viking Resource Group and Family Music.The asking price is $1.25 million
with a Cap rate of 6.8%. The company is also selling Sunbeam Shopping Center, a
67,000 sq.ft. center situated on six acres along East Main Street in Waterbury,
CT. Tenants include Wild Strawberry, Prospect Dental, Quest Diagnostic,
Institute for the Blind, Joshua Treehouse, Credit Union WTBY, Family Care,
Konowitz, Kahan & Co., Marie’s Jewelry, Allied Medical, Affordable Hearing,
Moonlight Construction, Fruticana, Amis Bagels, Dance Studio, Apostolic Church,
Patient Care, American Cellular, Curves, Laser Planet and Tae Kwan Do. The
asking price is $8.5 million with a Cap rate For more information, contact Ella Goldin, EG Realty, 10 Oceanview Lane, Staten Island, NY 10301; 971-991-5956, Fax 917-677-8601; Email: ellagoldinrealty@si.rr.com; Web site: www.1031egr.com. Infinity Property Management Corp. is looking to acquire strip and power centers in the southeastern region of the U.S. For more information, contact The Rappaport Cos. acquired Smoketown Plaza, a 285,911 sq.ft. shopping center located at the intersection of Smoketown Road and Minnieville Road in Woodbridge, VA. The center is anchored by Lowe’s Home Improvement and cotenants include Arby’s, Popeye’s and La Petite Academy. For more information, contact Sheryl Simeck, The Rappaport Cos., 8405 Greensboro Drive, Suite 830, McLean, VA 22102-5121; 571-382-1200, Fax 571-382-1210; Email: ssimeck@rappaportco.com; Web site: www.rappaportco.com. Hanley Investment Group represented the buyer and seller in the sale of Lompoc Corners, a 96,648 sq.ft. grocery-anchored shopping center situated on 9.04 acres in Lompac, CA for $16.1 million. Bascal Properties-II acquired the site from a private partnership from Los Angeles, CA. Located at the intersection of Central Avenue and L Street, the neighborhood shopping center consists of three buildings and is anchored by Kroger and Wal*Mart, which was not part of the sale. Cotenants include Kragen Auto, Hollywood Video, Rent-A-Center, Dollar Tree, Wells Fargo Bank, Payless ShoeSource, Quiznos, Curves and Sally Beauty Supply. The company also represented the buyer and seller in the sale of Ranch Center, a 60,022 sq.ft. retail/office center in Diamond Bar, CA for $15.7 million at a Cap rate of 6.6%. Aspen Management Co. acquired the site from a private investor based in El Monte, CA. The center sits on a land area of 5.62 acres on North Diamond Bar Boulevard and consists of three buildings with tenants including Acapulco Restaurant and Well & Fit Adult Health Care. The center was 99% occupied at the time of sale. The company also represented the buyer in the sale of Mission Village, a 60,604 sq.ft. shopping center in Fresno, CA for $11.44 million at a Cap rate of 6.1% Mission Village sold the site to a private investor from Newport Beach, CA. Located at the intersection of Shaw Avenue and Fresno Street across from Fresno Fashion Fair Mall, the center sits on 5.2 acres and is 95% occupied. Hanley Investment Group also represented the seller in the sale of two portions of Blythe Towne Center. A 16,100 sq.ft. portion sold for $3.175 million at a Cap rate of 6.6% and a 6,000 sq.ft. portion sold for $1.71 million at a Cap rate of 6.98%. Missouri Plaza, LLC acquired both properties and was represented by Prudential California Realty. The center sits on a land area of 0.75 acres at the intersection of East Hobsonway and South Seventh Street and is anchored by Albertsons and Rite Aid. Cotenants include Blockbuster Video, Fashion Mart and La Florida Mexican Restaurant. For more information, contact Edward B. Hanley, Hanley Investment Group; 949-585-7677; Web site: www.hanleyinvestment.com. For more information, contact Eric Wohl; 949-585-7673. Gebroe-Hammer Associates brokered the $1.1 million sale of a center located along Chilton Avenue in Elizabeth, NJ. For more information, contact Gebroe-Hammer Associates, 2
West Northfield Road, Livingston, NJ 07039; 973-994-4500, Fax 973-994-9752; Web
site: Block & Co., Inc. represented the buyer and seller sale of Northridge Shopping Center, a 210,000 sq.ft. power center located at the intersection of 119th Street and Strang Line Road/Interstate 35 in Olathe, KS, for $43 million. GDA Acquisitions acquired the site from Northridge Investors, LLC. The center is tenanted by Dick’s Sporting Goods, Borders, Old Navy, Pier 1 Imports, Famous Footwear, Hallmark, Chipotle, Panera Bread, Radio Shack, Ruby Tuesday, Bally Total Fitness and IHOP. The company is also selling a portfolio of 13 Wal*Mart-anchored shopping centers located throughout the Midwest. The properties total 376,000 sq.ft. and are located in the following areas: Champaign, Decatur and Jacksonville, IL; Crawfordsville, Decatur and Huntington, IN; Chanute and El Dorado, KS; Benton Harbor, Owosso and Sturgis, MI and Mansfield, OH. The company is also selling The Center, a class A, 37,326 sq.ft. center located in Omaha, NE. A 30,000 sq.ft. pad site adjacent to the property is available as well. The asking price for both is $9.137 million with a Cap rate of 7.36%. For more information regarding Northridge Shopping Center,
contact Natalie Christie, Block & Co., Inc., 605 West 47th Street,
Suite 200, Kansas City, MO 64112; 816-412-7381; Web site: www.blockandco.com.
For more information regarding the shopping center portfolio, contact Brad
Hughes and David Block; 816-412-7339/7400; Emails: bhughes@blockandco.com and
Marcus & Millichap is selling a neighborhood center
located in Dallas, TX for $7.3 million at a Cap rate of 7%. The center is 100%
occupied with all tenants under NNN leases. Bank of America tenants the site.
The company also arranged the $17.3 million sale of Westwind Lake Village
Center, a 120,573 sq.ft. shopping center in West Bloomfield, MI. The company
represented the seller. Tenants include Kroger, Hollywood For more information, contact Eric Beitchman, Marcus & Millichap, 14185 North Dallas Parkway, Suite 650, Dallas, TX 75254; 972-755-5270, Fax 972-755-5210; Email: ebeitchman@marcusmillichap.com. For more information regarding the sale of Westwind Lake Village Center, contact Stacy Corso, Marcus & Millichap, 2999 Oak Road, Suite 210, Walnut Creek, CA 94597; 925-953-1716, Fax 925-953-1710; Web site: www.marcusmillichap.com. LMG Investments is selling a 43,000 sq.ft. parcel located
at the intersection of Polk Street and Pleasant Run Road in DeSoto, TX. Area
retail includes Walgreens, Braum’s, Chase, Bank One, Beall’s, Boston Market and
Hallmark. Demographics include a population of 136,841 within a five-mile radius
earning an average household income of $63,229. The average daily traffic count
is 32,657 vehicles. The company is also selling a 57,111 sq.ft. pad site in
Lewisville Old Town Center, located at the intersection of Business Highway 121
and Main Street in Lewisville, TX. Demographics include a population of 64,208
within a three-mile radius earning an average household income of For more information, contact Randall Gonzalez or Marci
Millender, LMG Investments, LLC, 5440 Harvest Hill Road, Suite 233, Dallas, TX
75230; 972-233-8888, Fax 972-233-1615; Email: Lamar Cos. has acquired Norwin Hills Shopping Center, a 248,120 sq.ft. shopping center located at the intersection of Norwin Avenue and U.S. Route 30 in Irwin, PA. The center is anchored by Aldi, Eckerd and Norwin Hills Medical Center. The company also acquired Village at the Mall Shopping Center, a 83,175 sq.ft. center located at the intersection of State Route 18 and Mall Road in Florence, KY. Dollar Tree, Pier 1 Imports and The Tile Shop anchor the site, which also has a 17,500 sq.ft. anchor space available, as well as two outparcels of 4,000 sq.ft. and 5,000 sq.ft. For more information regarding Norwin Hills, contact Lamar
Cos., 365 South Street, Morristown, NJ 07960; 973-285-0660, Fax 973-285-0976;
Web site: Friedman Real Estate Group, Inc. is selling North Park Plaza, a center located along North Wixom Road in Wixom, MI. The center is anchored by Uptown Market. For more information, contact Scott Barrie, Barry Swatsenbarg
or Richard Deptula, Friedman Real Estate Group, Inc., 34975 West Twelve Mile
Road, Farmington Hills, MI 48331; 248-324-2000; Emails: scott.barrie@freg.com,
Cushman & Wakefield of Florida, Inc. is also selling Girvin Plaza, a 31,977 sq.ft. shopping center situated on 7.5 acres on Atlantic Boulevard, for $4.6 million at a Cap rate of 7.7%. The center is 100% occupied and anchored by Winn-Dixie. Cotenants include CiCi’s Pizza, Hair Cuttery and MVP’s Sports Grille. The company is also selling Starke Retail Center, an 8,000 sq.ft. shopping center situated 0.79 acres on Walnut Street in Starke, FL, for $1.34 million at a Cap rate of 8.26%. The center is 100% occupied with NNN-leased tenants, including Rent-A-Center and Movie Gallery. The average daily traffic count is 38,000 vehicles. The company is also selling an 8,275 sq.ft. Roadhouse Grill location situated on 1.58 acres on Southwest 17th Street in Ocala, FL for $3.575 million at a Cap rate of 8.01%. The tenant has a 20-year NNN lease with corporate guaranty and a net operating income of $280,908. For more information, contact Martin Forster, Michael
Pocklington and Jeffrey Pocklington, Cushman & Wakefield of Florida, Inc., 800
North Magnolia Avenue, Suite 450, Orlando, FL 32803; 407-541-4422/4390/4411, Fax
407-425-6455; Emails: martin.forster@cushwake.com, mike.pocklington@cushwake.com
and Sperry Van Ness negotiated the $2.368 million sale of Roxborough Square, a 12,974 sq.ft. center located on Ridge Avenue in Philadelphia, PA. The center is tenanted by Papa John’s, State Farm, Manhattan Bagel and Einstein Medical Hospital. The company represented both the seller, Roxborough Shopping Ct LP, and the buyer. The company also negotiated the $2.975 million sale of Country Club Square, a 136,680 sq.ft. center located at the intersection of Country Club Drive and 27th Street in El Reno, OK. Country Club Square Associates, LLC acquired the site from Country Club Square Shopping Center, LLC. The company represented the seller. The center had an occupancy rate of 29.71% at time of escrow. For more information regarding Roxborough Square, contact David Ebeling or Darcie Giacchetto, Sperry Van Ness; 949-225-1883; Email: david.ebeling@svn.com. For more information regarding Country Club Square, contact David Ebeling. Delta Properties USA is looking for acquisition opportunities nationwide on behalf of a REIT. The company prefers properties located in the New York, NY and Baltimore, MD metropolitan area. For more information, contact Robert Brown, Delta Properties USA; 718-981-2996, Fax 718-981-3351; Email: rbrown6@si.rr.com. NAI Hunneman Commercial Co. brokered the $22 million sale of Central Plaza, a 47,790 sq.ft. center located on Central Street in Wellesley, MA. Linear Retail acquired the center. For more information, contact NAI Hunneman Commercial Co., 303 Congress Street, Boston, MA 02210; 617-457-3400; Web site: www.naihunneman.com. Bognuda Commercial Real Estate Services is looking to acquire shopping centers located west of the Mississippi River on behalf of a client. Suitable properties should be valued below $27 million with a Cap rate of 6.5%. For more information, contact Greg Bognuda, Bognuda Commercial Real Estate Services, 700 Larkspur Landing Circle, Suite 175, Larkspur, CA 94939; 415-925-2266, Fax 415-925-1144; Email: gbognuda@hotmail.com. Pacific Coast Capital Partners is selling The Streets at Southglenn, a mixed-use development in Centennial, CO featuring 1.3 million sq.ft. of retail and office space and apartments. For more information, contact Pacific Coast Capital Partners, 150 California Street, 22nd Floor, San Francisco, CA 94111. Mid-America Real Estate Group negotiated the sale of a 2.04-acre outlot at Erskine Commons, a 425,000 sq.ft. center located in South Bend, IN. William J.Brant, Jr. & Associates acquired the site from Anchor South Bend, LLC. The buyer plans to develop an 8,200 sq.ft. strip center. For more information, contact Mid-America Real Estate Group,
One Parkview Plaza, Grubb & Ellis is selling Serra Shopping Center, a 16-acre site at the intersection of Highway 237 and Interstate 880 in Milpitas, CA. The parcel consists of a shopping center, two freestanding restaurants and Walgreens on a pad site, in addition to two hospitality facilities and three vacant parcels. The average daily traffic count is 607,000 vehicles. Area demographics include a population of 1.086 million within 10 miles earning $96,514 as the average household income. For more information, contact Michael Federle, Nicholas
Bicardo and M. Colin Federle, Grubb & Ellis, 255 California Street, 14th
Floor, San Francisco, CA 94111; 415-477-9288/9262/9283, Fax 415-956-5996;
Emails: mike.federle@grubb-ellis.com, nicholas.bicardo@grubb-ellis.com and HaysVentures, LLC brokered the sale of two storefronts located along Lexington Avenue in New York, NY. Crown Acquisitions acquired the properties, which are occupied by Body Shop and Claire’s Stores. For more information, contact HaysVentures, LLC, 525 Seventh
Avenue, Suite 808, New York, NY 10018; 212-730-4300, Fax 212-710-5399; Web site:
Colliers Spectrum Cauble brokered the $14 million sale of Interlochen Village Shopping Center, an 89,000 sq.ft. center located along Peachtree Parkway in Norcross, GA. Starpoint Properties acquired the 95% leased, OfficeMax-anchored center from Ivillage, LLC. For more information, contact Joe Montgomery, Colliers Spectrum Cauble, 1349 West Peachtree Street Northeast, Two Midtown Plaza, Suite 1100, Atlanta, GA 30309; 404-574-1029, Fax 404-870-2845; Web site: www.colliers.com/markets/atlanta. The Royston Group is selling a center tenanted by Starbucks and Massage Plus located in Flowood, MS. Both tenants are signed to NNN leases with rent increases. Area retail includes Lowe’s Home Improvement, Kohl’s, Hobby Lobby, KFC, Ruby Tuesday, Subway and Applebee’s. Demographics include a trade-area population earning an average household income of $61,429. The asking price is $1.7 million. For more information, contact Rob Sutton, The Royston Group, 1299 Ocean Avenue, Suite 316, Santa Monica, CA 90401-1054; 310-451-2100, Fax 310-395-3557; Email: rsutton@theroystongroup.com; Web site: www.theroystongroup.com. Colliers Turley Martin Tucker is selling Northwest Center, a 3,900 sq.ft., two-tenant center located in Columbus, OH. The asking price is $775,000 with a Cap rate of 7%. For more information, contact Kevin James, Colliers Turley
Martin Tucker; 614-827-1705, Fax 866-449-5937; Email: ktjames@ctmt.com; Web
site: Space Source, Inc. is selling a 71,624 sq.ft. center located in Holland, MI. The center is 66% occupied with 20,000 sq.ft. vacant. The asking price is $4.7 million with a Cap rate of 8.96%. The NOI is $421,315 on current income. For more information, contact Kirk Driesenga, Space Source, Inc., 169 Monroe Avenue Northwest, Grand Rapids, MI 49503; 616-456-2000, Fax 616-456-2006; Email: kdriesenga@spacesource.net. Staubach Capital Markets brokered the $12.5 million sale of Village at Westfork, a Kroger-anchored 75,947 sq.ft. shopping center located in Lithia Springs, GA. Westwood Financial Corp. acquired the center from BAG Investments. For more information, contact Jim Hamilton, Staubach Capital Markets; 678-420-1386. Breslin Realty Development Corp. negotiated the sale of a 2.987-acre parcel located at the intersection of Southaven Avenue and Route 112 in Medford, NY. Commerce Bank is planning to occupy the site. The company represented the buyer, Commerce Bank, and the seller, Neil Automotive Co. For more information, contact Wilbur F. Breslin, Breslin Realty Development Corp., 500 Old Country Road, Garden City, NY 11530; 516-741-7400, Fax 516-741-7128. Henry S. Miller Commercial is selling a 1,000 sq.ft. freestanding building with drive-thru located at the intersection of Route 75 and Walnut Hill Lane in Dallas, TX. For more information, contact Kent Arnold, Henry S. Miller Commercial, 5001 Spring Valley Road, Suite 1100W, Dallas, TX 75244; 972-419-4066, Fax 972-419-4099; Web site: www.henrysmiller.com. CB Richard Ellis is selling Sea Plum Town Center, a 60,032 sq.ft. center situated on 5.88 acres on Military Trail in Jupiter, FL. Publix anchors the site, occupying 38,997 sq.ft. Shop space of 17,981 sq.ft. and a 3,054 sq.ft. outparcel are available. The company is also selling Medina Grande, a 150,000 sq.ft. center located at the intersection of U.S. Route 42 and Grande Boulevard in Medina, OH. The center is anchored by Borders, Bed Bath & Beyond, PetSmart, Jo-Ann Fabrics and Maibach’s Furniture. Tenants include Pier 1 Imports, Kay Jewelers, Radio Shack and FedEx Kinko’s. Demographics include a population of 168,000 within a 10-mile radius. The asking price is $29.98 million. For more information regarding Sea Plum Town Center, contact Mark Drazek, William R. Strauss or David J. Donellan, CB Richard Ellis, 5355 Town Center Road, Suite 701, Boca Raton, FL 33486; 407-839-3123, 561-393-1615 or 561-393-1606; Emails: mark.drazek@cbre.com, william.strauss@cbre.com and david.donnellan@cbre.com; Web site: www.cbre.com/seaplum. For more information regarding Medina Grande, contact Gregory Dalton, Brian Hurtuk or Claudia Loveland, 1512 Eureka Road, Suite 100, Roseville, CA 95661; 916-781-4851 or 216-363-6446; Emails: greg.dalton@cbre.com and claudia.loveland@cbre.com. Grubb & Ellis|Thomas Linderman Graham is selling Morrisville Marketplace, a 77,516 sq.ft. center consisting of three buildings situated on two parcels of 13.92 acres and 1.37 acres at the intersection of Davis Drive and Morrisville-Carpenter Road in Morrisville, NC. Ace Hardware and Salsa Fresh tenant the site, with AutoZone, Smithfield’s Chicken ‘N Bar-B-Q, Dunkin’ Donuts and McDonald’s occupying outparcels. Space of 23,000 sq.ft. is available. Area retail includes CVS. The average daily traffic count is 19,000 vehicles. For more information, contact Jim McMillan or J. Rex Thomas,
Grubb & Ellis|Thomas Linderman Graham, 1511 Sunday Drive, Suite 200, Raleigh, NC
27607; 919-785-3434, Fax 919-785-0802; Emails: jim.mcmillan@tlgcre.com and Amercon Realty Service, Inc. is selling a 14,690 sq.ft. CVS located in northern VA adjacent to Bloom grocery store. The company is also selling a 14,820 sq.ft. Happy Harry’s location in Dover, DE that will operate under a Walgreens corporate guarantee. Both sites are slated to open this fall or winter. For more information, contact W. Barry Lammersen, Amercon Realty Service, Inc.; 480-481-0600, Fax 480-481-9718; Email: blamm@ix.netcom.com. Recckio Real Estate & Development, Inc. is selling a 20-acre corner lot near a proposed Wal*Mart Supercenter in Angola, NY. For more information, contact Linnette Pacyon, Recckio Real
Estate & Development, Inc.; 716-631-5555 Ext. 11; Email: Marcus & Millichap Real Estate Investment Services of Florida, Inc. is selling a Home Depot ground lease in Atlanta, GA for $10.8 million at a Cap rate of 5.75%. The 130,948 sq.ft. building sits on a land area of 14.46 acres and the tenant is currently under a 20-year ground lease. The company is also selling a Garden Ridge location in The Woodlands, TX for $11.25 million at a Cap rate of 7.17%. The tenant has a NNN lease with 13 years remaining. In addition, the company is selling two CVS locations in FL. In Clearwater, the store is selling for $9.93 million and in Rockledge, the site is selling for $6.48 million. Both have 25-year NNN leases with full corporate guarantees. For more information, contact Lori Schneider, Marcus &
Millichap Real Estate Investment Services of Florida, Inc., 5900 North Andrews
Avenue, Suite 100, Fort Lauderdale, FL 33309; 954-245-3400 Ext. 3484, Fax
954-337-2397; Email: Baker Katz is selling four freestanding Starbucks locations in: Denham Springs, LA for $1.086 million at a Cap rate of 6.75%; Houston, TX for $1.155 million at a Cap rate of 6.75%; Kenner, LA for $1.237 million at a Cap rate of 6.75% and Little Rock, AR for $1.288 million at a Cap rate of 6.5%. The company also sold four freestanding Starbucks locations in: Baton Rouge, LA for $1.38 million; Baytown, TX for $1.25 million; Houston, TX for $1.3 million and Rosenberg, TX for $1.308 million. For more information, contact Ryan West or Kenneth Katz, Baker Katz, 3355 West Alabama, Suite 1177, Houston, TX 77098; 713-621-2900 Ext. 101/105, Fax 713-621-2999; Emails: rwest@bakerkatz.com and kkatz@bakerkatz.com. E-Florida Realty, Inc. is selling a 31,888 sq.ft. mixed-use center located along 10th Avenue in Lake Worth, FL. Demographics include a population of 114,000 within a three-mile radius earning an average household income of $54,762. The average daily traffic count is 42,500 vehicles. The NOI is $514,000. The company is also selling a 46,000 sq.ft. shopping center located on Military Trail in West Palm Beach, FL. Demographics include a population of 221,000 within a five-mile radius earning an average household income of $56,446. The average daily traffic count is 50,000 vehicles. For more information, contact Richard Grondin, E-Florida Realty, Inc., 3951 North Haverhill Road, Suite 300, West Palm Beach, FL 33417; 561-684-9116, Fax 651-588-9517; Email: rgcontinental@yahoo.com. The Platinum Team at Bensen & Associates is selling Bayside Plaza, a 24,000 sq.ft. retail/office site on Francis Lewis Boulevard in Bayside, NY for $13.5 million. The two-level center is anchored by Chase Bank, which occupies 4,000 sq.ft. with a newly signed a 15-year lease. The site has a net operating income of $770,458. For more information, contact The Platinum Team at Bensen & Associates; 646-424-5074. Morton G. Thalhimer, Inc. sold a 9.727-acre site at the intersection of U.S. Route 301 and Atlee Road in Hanover County, VA for $2.021 million. Kroger Limited Partnership I acquired the site from Crosland Rutland, LLC and plans to build a Kroger Supermarket on the site, which is being developed by Crosland Retail as Rutland Commons. For more information, contact David M. Smith, Morton G. Thalhimer, Inc., 1313 East Main Street, Suite 400, Richmond, VA 23219; 804-649-3466, Fax 804-697-3479; Email: david.smith@thalhimer.com. Stirling International Realty Commercial Group negotiated the $800,000 sale of a 0.54-acre parcel located at the intersection of West Fairbanks Avenue and Gene Street in Winter Park, FL. The company represented Small Moves, Inc., who sold the property to a private buyer. The company also negotiated the $450,000 sale of a 1,600 sq.ft. building situated on 0.5 acres along Prairie Lake Drive in Fern Park, FL. Teresa Management, Inc. acquired the property. For more information, contact David Lee Bass, Stirling International Realty Commercial Group, 719 Rodel Cove, Lake Mary, FL 32746; 407-588-1260; Web site: www.stirlingsir.com. ABS Partners Real Estate, LLC and First Pioneer Properties, Inc. acquired a 4,503 sq.ft. retail building located at the intersection of Canal Street and Lafayette Street in New York, NY. Morrison Cohen, LLP represented the buyers. For more information, contact Elisa DePalma, ABS Partners Real Estate, LLC, 200 Park Avenue South, 10th Floor, New York, NY 10003; 212-400-9511, Fax 212-400-9494. Faris Lee Investments negotiated the $37.3 million sale of Desert Springs Marketplace, a 100% occupied, 105,157 sq.ft. shopping center situated on 12.39 acres at the intersection of Cook Street and Country Club Drive in Palm Desert, CA. Lakha Properties acquired the center from Sanderson J. Ray-Desert Spring Partners. The company represented both parties. For more information, contact Faris Lee Investments, 2301 Dupont Drive, Suite 100, Irvine, CA 92612; 949-221-1800, Fax 949-221-1830; Web site: www.farislee.com. Prudential Georgia Realty is selling a 0.76-acre parcel located on Upper Riverdale Road in Riverdale, GA. The asking price is $429,000. The company is also selling a 0.62-acre corner lot located along Riverstone Parkway in Canton, GA. The asking price is $799,000. For more information, contact Mike Ragab, Prudential Georgia Realty; 770-720-1400, Fax 801-516-4445; Email: tebo94@aol.com. Gill Properties is selling a 91% leased, 25,300 sq.ft. center located in Memphis, TN. Demographics include a population of 141,000 within a five-mile radius earning an average household income of $90,000. The sale price reflects a 7.75% Cap rate. For more information, contact Jennifer Stewart, Gill Properties, 8556 Macon Road, Cordova, TN 38018; 901-758-1100, Fax 901-751-0724; Email: jennifer@gillprop.com. Developers Diversified Realty is looking to acquire open-air shopping centers and lifestyle centers nationwide with GLAs of between 250,000 sq.ft. and one million sq.ft. for $50 million and up. Centers should be anchored by retailers such as Wal*Mart, Target, Home Depot, Lowe’s Home Improvement or a major regional or national supermarket. Small shops should represent 20,000 sq.ft. to 50,000 sq.ft. of the center’s GLA. For more information, contact Joseph G. Padanilam, Developers Diversified Realty; 216-755-5782; Email: jpadanilam@ddr.com; Web site: www.ddr.com. Sperry Van Ness/Sentinel Realty Advisors, Inc. is selling a parcel of land zoned retail and located along 159th Street in Orland Park, IL. The average daily traffic count is 25,000 vehicles. The asking price is $7.435 million. For more information, contact Tom Vincent, Sperry Van Ness/Sentinel Realty Advisors, Inc., 1803 Hicks Road, Suite D, Rolling Meadows, IL 60008; 847-963-1031. TREC Acquisitions is seeking sites in major metropolitan areas and secondary markets nationwide with GLAs above 25,000 sq.ft. Sites should be A or B+ class, valued between $8 million and $50 million and feature occupancy rates above 80%. Sites should be no older than 12 years and debt free. For more information, contact Brian DiSalvo, TREC Acquisitions, 2801 North Tenaya Way, Las Vegas, NV 89128; 702-851-9008 Ext. 183, Fax 212-602-0101; Email: bdisalvo@trecbuys.com; Web site: www.trecinvestments.com. Commercial-Investment Real Estate, on behalf of two clients, is looking to acquire off-market properties in the Southeast and Southwest constructed after 1990. The properties should have a Cap rate above 7.5%, a stabilized NOI, and be valued between $4 million and $50 million. For more information, contact Joseph Gauthier, Commercial-Investment Real Estate, PO Box 12445, Reno, NV 89510-2445; 775-825-7025, Fax 775-993-2424. Nations Property & Management is acquiring empty big-box retail sites and shopping centers with vacant anchor locations in FL. Suitable properties will be between 50,000 sq.ft. and 500,000 sq.ft. with a population of 160,000 residing within a five-mile radius. For more information, contact Navid Rezanejad, Nations Property & Management, 12338 Barryknoll Lane, Houston, TX 77024; 832-755-7469, Fax 281-476-6219; Email: nationsproperty@gmail.com. James Solomon Realty, Inc. is selling a 2.6-acre parcel located in Macon, GA. Area retail includes Babcock Furniture, Farmers Furniture, Enmark Convenience, Popeye’s, Advance Autos, Precision Tune, Open MRI, Lenscrafters, Beds and Bedding, Salvation Army Thrift Store, Fine Line Detail, Chuck E. Cheese, Steak & Shake and Flash Foods. The average daily traffic count is 30,000 vehicles. The asking price is $980,000. For more information, contact Fred Matthews, James Solomon Realty, Inc., 4261 Wendy Drive, Macon, GA 31216; 478-960-2142; Email: fmatthe@cox.net. The Prakas Group brokered the sale of a 15,000 sq.ft. Pete’s Restaurant location in Boca Raton, FL on Glades Road. Restaurant Associates, Inc. sold the site to 7940 Glades Rd., LLC, with the company representing both parties. For more information, contact The Prakas Group; 561-368-0003;
Web site: Property Specialists, Inc. is selling a 100% leased, 28,209 sq.ft. center located along Highway 19 in Pinellas, FL. All tenants are NNN. The NOI is $393,000. The asking price is $6.05 million. The company is also selling a 95% leased, 35,510 sq.ft. center located along North Dale Mabry Highway in Hillsborough, FL. All tenants are NNN. The NOI is $458,000. The asking price is $7.05 million. For more information, contact Neil Mirchandani, Property Specialists, Inc., 6401 First Avenue South, St. Petersburg, FL 33707-1301; 727-384-2334, Fax 727-384-5255; Email: neilm@psiflorida.com. DLC Management Corp. acquired Stone Mountain Square, a 336,663 sq.ft. shopping center located in Stone Mountain, GA. The center is anchored by T.J. Maxx, Staples, Marshalls, Rugged Warehouse, Ross Dress for Less and Bally Total Fitness. Tenants include Aaron Rents, Casual Male XL, CATO, Hallmark, Leslie’s Swimming Pool Supplies, Payless ShoeSource and Radio Shack. Demographics include a trade-area population of 53,000 earning an average household income of $96,000. For more information, contact DLC Management Corp.; 914-631-3131. The Smith Co.is selling an 18,680 sq.ft. former furniture store and warehouse located in Corpus Christi, TX. The asking price is $375,000. For more information, contact Jeff Smith, The Smith Co., 2500 Debra Lane, Corpus Christi, TX 78418; 361-949-3300, Fax 361-939-7113; Email: jsmith@thesmithcompany.com; Web site: www.thesmithcompany.com. Zar Property NY is looking to acquire shopping centers nationwide. Suitable GLAs should be larger than 100,000 sq.ft., although properties in NY as small as 15,000 sq.ft. will be considered. The company prefers vacant big-box properties. For more information, contact David Zar, Zar Property NY, 49 West 37th Street, 10th Floor, New York, NY 10018; 212-944-7979, Fax 212-704-0462; Email: evzar@aol.com; Web site: www.zarpropertyny.com. Hunt Commercial Real Estate is selling Big Lots Plaza in Lockport, NY. Tenants include Big Lots, Dollar General, Fastenal, Valvoline, Frontier Dental and Fantastic Sams. The asking price is $6.5 million with a NOI of $398,793. For more information, contact Craig Klausen or David Doerr, Hunt Commercial Real Estate, 403 Main Street, Suite 105, Buffalo, NY 14222; 716-854-5943, Fax 716-854-7425; Emails: cklausen@huntcommercial.com and ddoerr@huntcommercial.com. Marketplace Advisors, Inc. negotiated the sale of two sites on U.S. 98 in Lakeland, FL totaling three acres. The company represented the buyer, MPC Retail, LLC, in the $950,000 sale of the parcels which are adjacent to a Publix-anchored shopping center. Cushman & Wakefield represented the seller, Ace Lakeland, Inc. For more information, contact WexTrust Capital, through its affiliate S. Pine Street Investors, LLC, acquired Pinecrest Shopping Center, located on South Pine Street in Burlington, WI. The 102,054 sq.ft. two-level shopping center is anchored by Sentry Foods and is 100% occupied. For more information, contact WexTrust Capital, 333 West
Wacker Drive, Suite 1600 Westcore Properties sold Poway Crossings Shopping Center,
a 114,811 sq.ft. center situated on 10.1 acres on Poway Road in Poway, CA, for
$30.7 million. Poway Crossings Investors acquired the five-building site
from Westcore Poway Plaza, LLC and Westcore Poway LAF,
LLC. For more information, contact Gary Katz or Dan Peoples, Westcore Properties; 858-625-4100 Ext. 250 or 858-552-1456. The Shopping Center Group is selling a Walgreens location on Pleasant Hill Road in Duluth, GA for $5.6 million at a Cap rate of 6.2%. For more information, contact Tyson Glasser, Neal Pringle and Mark Cooley; 678-718-2807, 770-738-2486 or 770-738-2471; Emails: tysong@theshoppingcentergroup.com, nealp@theshoppingcentergroup.com and markc@theshoppingcentergroup.com; Web site: www.theshoppingcentergroup.com. Miller-Valentine Realty, Inc. is selling a 57,500 sq.ft. neighborhood shopping center located in the Dayton, OH market for $4.299 million at a Cap rate of 9%. The center is 97% occupied. For more information, contact Pete Nichols, Miller-Valentine Realty, Inc., PO Box 744, Dayton, OH 45401; 937-297-3259, Fax 937-913-5447; Email: pete.nichols@mvg.com. Grubb & Ellis – Roseville is representing an investor looking to acquire single-tenant NNN deals in 1031 exchanges for up to $12 million. The company prefers retail, industrial or office properties in the Sunbelt states. For more information, contact Stuart Snider, Grubb & Ellis – Roseville, 915 Highland Pointe Drive, Suite 140, Roseville, CA 95678; 916-770-8917, Fax 916-784-8270; Email: stuart.snider@grubb-ellis.com. National Commercial Brokers, Inc. is selling a 2,382 sq.ft. restaurant site situated on 0.52 acres on Park Avenue/Route 12 in Worcester, MA. Nearby draws includes Clark University. The average daily traffic count is 24,300 vehicles. Friendly’s occupies the site. Area retail includes Save-A-Lot, Aaron’s, Dunkin’ Donuts, True Value, Wendy’s and Monro Muffler/Brake. Area demographics include a population of 200,563 within five miles earning $48,253 as the average household income. For more information, contact Brian Nadler, National Commercial Brokers, Inc., 75 Second Avenue, Suite 315, Needham, MA 02494; 781-453-0360, Fax 781-453-0390; Email: brian@nationalcommercial.com; Web site: www.nationalcommercial.com. Atlanta Retail Group, LLC is selling a 7,242 sq.ft. Blockbuster Video/Papa John’s Pizza location on Covington Highway/U.S. 278 in Lithonia, GA for $1.841 million. The site is an outparcel to a 63,000 sq.ft. Kroger-anchored center. The tenants have a five-year NN corporate lease with five years remaining and 10% rent increases every five years. For more information, contact Ken Furlong, Atlanta Retail
Group, LLC, 1533 Cloverdale Drive, Marietta, GA 30067; 770-596-2525, Fax
770-977-9105; Email: The Ainbinder Co. acquired 11 acres located at the intersection of Atascocita Road and Will Clayton Parkway in Humble, TX. The company signed ground leases with Chase Bank and freestanding build-to-suit leases with Starbucks and AutoZone. The development will also include a 10,000 sq.ft. building, a fast-food pad site and two pad sites fronting on Will Clayton Parkway on 2.5 acres. For more information, contact The Ainbinder Co., 2415 West Alabama, Suite 205, Houston, TX 77098; 713-892-5600, Fax 713-892-5656. Cushman & Wakefield is selling 39 acres on East Palm Drive in Florida City, FL for $21.519 million. The site consists of five parcels and is surrounded by retailers including Home Depot, Wal*Mart, Prime Outlets and Publix. Area demographics include a population of 82,627 within five miles earning $42,755 as the average household income. For more information, contact Brian Smith, Jeff Evans and
Greg Masin, Cushman & Wakefield, 200 South Biscayne Boulevard, Suite 2800,
Miami, FL 33131; 305- reestanding building located in Omaha, NE. Family Dollar tenants the building and has one year left on the original NN lease term and four, five-year options with rent increases. The NOI is $42,000. The asking price is $550,000. For more information, contact Commercial Pointe Realty, Inc. is selling a Rite Aid location on Panola Road in Lithonia, GA for $2.196 million at a Cap rate of 7.5%. The 8,926 sq.ft. store sits on a land area of two acres and operates under a 20-year lease with four, five-year options. Area demographics include a population of 198,303 within five miles earning $63,803 as the average household income. The average daily traffic count is 23,520 vehicles. For more information, contact David Egozi, Commercial Pointe Realty, Inc., 111 Kane Concourse, Suite 401F, Bay Harbor Islands, FL 33154; 305-861-3737, Fax 305-865-3434; Email: degozi@pointecompanies.com. NewMarket Advisors is selling a Starbucks and Wireless Toyz-shared pad site in Las Vegas, NV. The asking price is $1.963 million with a 6% Cap rate. For more information, contact Robert Touma, NewMarket Advisors, 2970 West Sahara Avenue, Suite 100, Las Vegas, NV 89102; 702-221-2500 Ext. 318; Email: btouma@newmarketadvisors.com; Web site: www.newmarketadvisors.com. Pacific International Properties, Inc. is selling a 32,000 sq.ft. parcel located at the intersection of Las Tunas Drive and El Monte Avenue in Arcadia, CA. The property is adjacent to CVS. Demographics include a trade-area population earning an average household income of $80,000. The average daily traffic count is 22,000 vehicles. For more information, contact Hugo Chau, Pacific International Properties, Inc., 9417 Las Tunas Drive, Suite 201, Temple City, CA 91780; 888-285-8888 Ext. 125, Fax 626-821-5599; Email: hugochau@gmail.com. GAIA Real Estate Investments is selling a freestanding building located in Saginaw, MI. The building is tenanted by Chase Bank, with nine years left on the NNN lease. The asking price is $975,000 with a 6.5% Cap rate. For more information, contact Erika Carlson, GAIA Real Estate Investments; 858-488-0591; Email: erika@gaiarealestateinvestments.com; Web site: www.gaiarealestateinvestments.com. Marin Real Estate Services is selling a nine-acre parcel located at the intersection of Route 1175 and Berlin Turnpike in Newington, CT. The site is approved for a hotel, gas station, 9,000 sq.ft. of retail and a 6,000 sq.ft. restaurant. Area retail includes Home Depot. The asking price is $3.9 million. For more information, contact Paul Marin, Marin Real Estate Services, 361 Walkley Hill Road, Haddam, CT 06438; 860-345-8798, Fax 860-345-4577; Email: pmarin@snet.net. Markward Group is selling a 111,825 sq.ft. center located along Union Boulevard in Allentown, PA. The center is 100% leased and land is available for a possible 0.5-acre or 0.75-acre pad site. For more information, contact Derek Zerfass, Markward Group, 5925 Tilghman Street, Allentown, PA 18104; 610-770-3600, Fax 610-770-3100.
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