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Buyers & Sellers
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Buyers & Sellers TGG Properties is looking to acquire shopping centers nationwide valued between $50 million and $400 million with NNN leases. Cap rates should be above 7%. For more information, contact Fitz Green, TGG Properties; 770-616-6326; Email: tggproperties@yahoo.com. Sandrella Development is selling a 34,150 sq.ft. center occupied by Shoe Carnival and Goody’s. The center is adjacent to Lowe’s Home Improvement and Wal*Mart Supercenter. The asking price is $4.35 million with a Cap rate of 7.25%. The NOI is $315,068. For more information, contact Jon Sandrella, Sandrella Development, 4125 Woodmont Park Lane, Louisville, KY 40245; 502-741-2458, Fax 615-523-1157; Email: jons_4@yahoo.com. Florida Style Real Estate, Inc., on behalf of a client, is looking to acquire NNN properties in Martin, Palm Beach, Broward and Port St. Lucie counties in FL. Properties should be valued up to $1.3 million. For more information, contact Bill Tavernise, Florida Style Real Estate, Inc., 12230 Forest Hill Boulevard, Suite 175, Wellington, FL 33414; 561-227-1551, Fax 561-227-1552; Email: btavernise@aol.com. CB Richard Ellis is selling a strip center located at the intersection of Raintree Road and Loop 101 in Scottsdale, AZ. Tenants include Sealy Mattress Firm and Pearle Vision. Area retail includes Kohl’s, Target, Wal*Mart, Sam’s Club, Best Buy and Wild Oats. The asking price is $5.738 million with a Cap rate of 6.15%. The company also negotiated the $27.72 million sale of a 45.47-acre parcel located at the intersection of Val Vista Road and Williams Field Road in Gilbert, AZ. Vazza Co. acquired the property from Aspen Highlands Holdings, LLC and plans to develop a 400,000 sq.ft. mixed-use project titled San Tan Square at Spectrum. The seller was represented by Grubb & Ellis|BRE Commercial. For more information regarding the Scottsdale property, contact Andrew Fosberg, Steve Fernandez or Claudia Jara, CB Richard Ellis, 2415 East Camelback Road, Phoenix, AZ 85016; 602-735-5555, Fax 602-735- 5655; Emails: andrew.fosberg@cbre.com, steve.fernandez@cbre.com and claudia.jara@cbre.com; Web sites: w w w . c b r e . c om/ a n d r e w . f o s b e r g , www.cbre.com/steve.fernandez and www.cbre.com/claudia.jara. For more information regarding the Gilbert property, contact Katherine Haug; 602-735-1782; Email: katherine.hauge@cbre.com; Web site: www.cbre.com/phxmediaroom. LMG Investments, LLC is selling a 6.42- acre pad site located at the intersection of Military Highway and George Road in San Antonio, TX. 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 FM1171/Main Street in Lewisville, TX. 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: info@lmginvestments.com; Web site: www.lmginvestments.com. Cole Cos. acquired the following properties: a 22,670 sq.ft. Tractor Supply Co. in Navasota, TX; a 48,453 sq.ft. Sportsman’s Warehouse in De Pere, WI; a 13,013 sq.ft. CVS in Flowery Branch, GA; a 5,400 sq.ft. Applebee’s in Littleton, CO; a 4,000 sq.ft. Applebee’s in Macon, GA; a 4,300 sq.ft. Applebee’s in Garden City, GA; a 6,405 sq.ft. Applebee’s in Augusta, GA; a 5,200 sq.ft. Applebee’s in Aurora, CO; a 6,140 sq.ft. Applebee’s in Columbus, GA and a 5,400 sq.ft. Applebee’s in Santa Fe, NM. For more information, contact Derek Peterson, Cole Cos., 2555 East Camelback Road Suite 400, Phoenix, AZ 85016; 888-677-2653. Block & Co., Inc. negotiated the acquisition of a portfolio of 24 Shell gas stations in the Kansas City, MO metropolitan area. Stations Acquisitions, LLC acquired the properties from Shell Oil Co. in a sale-leaseback agreement. For more information, contact Steve Daniels, Block & Co., Inc., 605 West 47th Street, Suite 200, Kansas City, MO 64112; 816-412-7373; Web site: www.blockandco.com. Marcus & Millichap Real Estate Investment Services is selling Driftwood Shopping Center, a 95,421 sq.ft. project located along South Euclid Avenue in Ontario, CA. The center is 100% leased and cotenants include Food 4 Less, CVS, Papa John’s, Starbucks, Jack in the Box, Quiznos and T-Mobile. The asking price is $28 million. The company is also selling Shoppes at Spring Valley, a 100% occupied center in Clermont, FL. Tenants are bound to NNN leases. The center is shadow-anchored by Kohl’s and is adjacent to Wal*Mart Supercenter. The asking price is $2.92 million with a Cap rate of 7.24%. For more information regarding Driftwood Shopping Center, contact Stacey Corso, Marcus & Millichap Real Estate Investment Services, 2999 Oak Road, Suite 210, Walnut Creek, CA 94597; 925-953-1716, Fax 925-953-1710; Web site: www.marcusmillichap.com. For more information regarding Shoppes at Spring Valley, contact Jack Holly, 1900 Summit Tower Boulevard, Suite 650, Orlando, FL 32810; 407-557-3800, Fax 407-557-3954; Email: jholly@marcusmillichap.com. Pacific Equities is selling a 10,908 sq.ft. former Eckerd in Gulf Breeze, FL. The lease was acquired by CVS, who is subleasing the building under corporate guarantee. The asking price is $4.91 million with a Cap rate of 6.5%. For more information, contact Ron Pelleg, Pacific Equities, 1640 South Sepulveda Boulevard, Suite 308, Los Angeles, CA 90025; 310-477-5300 Ext. 104, Fax 310- 479-1870; Email: ron@pelleg.com. McDade, Smith, Gould, Johnston, Mason & Co. represented the buyer and seller in the sale of a 48-acre parcel located at the intersection of Eldridge Parkway and Westheimer Road in Houston, TX. Property Commerce acquired the property from Phillips Development & Realty, LLP and plans to develop a 180,000 sq.ft. SuperTarget and a 220,000 sq.ft. shopping center. For more information, contact McDade, Smith, Gould, Johnston, Mason & Co., 5005 Riverway Drive, Suite 310, Houston, TX 77056; 713-622-1400, Fax 713-622-2570; Web site: www.msgjm.com. |