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Buyers & Sellers
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Buyers & Sellers Weingarten Realty is selling the following shopping centers: Northtown Plaza, a 73,633 sq.ft. center located at the intersection of University and Auburn Street in Lubbock, TX and tenanted by Family Dollar, United, Rent-A-Center and O’Reilly Auto Parts; Steeplechase, a 193,085 sq.ft. center located at the intersection of Jones Road and FM 1960 in Houston, TX and tenanted by Palais Royal, 99 Cents Only and Anna’s Linens; Market Street, a 49,824 sq.ft. center located at the intersection of Market Street and Baca Street in Houston, TX and tenanted by Sellers Brothers and CVS; Westbury Triangle, a 66,318 sq.ft. site located at the intersection of Chimney Rock Road and West Belfort Avenue in Houston, TX and tenanted by 99 Cents Only and Ace Cash Express; The Promenade Shopping Center, a 278,783 sq.ft center located at the intersection of Essex Street and Lisbon Street in Lewiston, ME and tenanted by Staples and Family Dollar; Palmer Plaza, a 96,526 sq.ft. center located at the intersection Highway 1764 and FM 146 in Texas City, TX and tenanted by Dollar Tree; Parliament Square, a 64,950 sq.ft. site located at the intersection of Blanco Road and West Avenue in San Antonio, TX and tenanted by The Incredible Pizza Company, The UPS Store and Cato; Highlands Ranch, an 86,220 sq.ft. center located at the intersection of University Boulevard and Colorado in Highlands Ranch, CO and tenanted by Whole Foods, Nick-N-Willy’s Pizza and Boston Market and Burbank Station, a 303,566 sq.ft center located at the intersection of 78th Avenue and Lavergne Avenue in Chicago, IL and tenanted by The Sports Authority and PetSmart. For more information, contact Weingarten Realty, 2600 Citadel
Plaza Drive, Suite 300, Houston, TX 77008; 800-688-8865; Sperry Van Ness completed the $8.95 million sale of Century Square, a 45,610 sq.ft. center located on Tapo Street in Simi Valley, CA. The company represented the seller, Rainbow Investments, LLC in the sale to Portola Properties. The center is situated on 3.2 acres and is 100% leased with area retailers such as McDonald’s, 99 Cent Store and Vons. The company also completed the $1.6 million sale of a Sonic Drive-In Restaurant on North Main Street in Gainesville, FL. The 1,674 sq.ft. restaurant is situated on 1.11 acres and is located within walking distance from the University of Florida. For more information, contact Sperry Van Ness, 18881 Von Karman, Suite 800, Irvine, CA 92612; 949-250-4100, Fax 949-251-9200. The Prakas Group, Inc. brokered the sale of a 1,300 sq.ft. restaurant on Hillsboro Boulevard in Deerfield Beach, FL for $600,000. Red Sail Café previously tenanted the site. Charm City Burgers acquired the site and plans to open a family-style hamburger restaurant. For more information, contact The Prakas Group, Inc., 705
East Palmetto Park Road, Boca Raton, FL; 561-368-0003; Marcus & Millichap is selling Coco Shopping Center, a 182,852 sq.ft. shopping center situated on 16.45 acres at the intersection of Coconut Creek Parkway and Banks Road in Margate, FL, for $21.5 million. The company is representing the seller. Tenants include Learning Together Preschool, The China Doll, Powernet Mortgage and Total Healthcare Services. The company is also selling a 27,270 sq.ft. freestanding building situated on 1.6 acres along Marketplace Plaza in Steamboat Springs, CO. The building is currently tenanted by The Sports Authority with 12 years remaining on the original lease term. The lease includes a 10% rent increase every five years and two, five-year options. The asking price is $8 million with a Cap rate of 6.03%. The company also negotiated the sale of Parkdale Shopping Center, a 201,392 sq.ft. center located along Bosque Boulevard in Waco, TX at a Cap rate of 7.59%. Tenants include Hobby Lobby, Big Lots, FedEx Kinko’s, Papa John’s, Chili’s and Drug Emporium. The company represented the seller. The company is also selling Victoria Square located in Deland, FL for $11.7 million at a Cap rate of 7.84%. The center is located in a major retail corridor and offers NNN leases, value added, low rents and national, regional and local tenants. For more information regarding the Coco Shopping Center,
contact Marcus & Millichap, 5900 North Andrews Avenue, Suite 100, Ft.
Lauderdale, FL 33309; 954-245-3400, Fax 954-245-3410. For more information
regarding the Colorado property, contact Barry Higgins or Taylor Turano, Marcus
& Millichap Real Estate Investment Services, 1401 Seventeenth Street, Suite
1100, Denver, CO 80202; 303-320-1300, Fax 303-308-9048; For more information regarding the Texas property, contact
Stacy Corso, 2999 Oak Road, Suite 210, Walnut Creek, CA 94597; 925-953-1716, Fax
925-953-1710. For more information regarding Parkdale Shopping Center, contact
Jack Holly, 1900 Summit Tower Boulevard, Suite 650, Orlando, FL 32810;
407-557-3800, Fax 407-557-3954; Vanguard-Fine Retail Store Leasing, LLC is selling
Plattsburgh Plaza, a 168,876 sq.ft. center which sits on a land area of 20 acres
on Cornelia Street/Route 3 in Plattsburgh, NY, for $10 million. Big Lots, Family
Dollar and Aldi anchor the center, with cotenants including Powerhouse Gym,
Alix’s True Value, Glens Falls National Bank and Hong Kong Jade Restaurant.
There are five additional acres available for future development. The average
daily traffic count is 23,500 vehicles. Area demographics include a population
of 178,572 within five miles. The company is also selling a 1,849 sq.ft.
building situated on a land area of 23,668 sq.ft. on West Housatonic Street in
Pittsfield, MA for $350,000. Area demographics include a population of 49,560
within five miles earning $57,386 as the average household income. The average
daily traffic count is 15,500 vehicles. The company is also selling a
freestanding 8,000 sq.ft. Family Dollar store situated on 1.3 acres at the
intersection of Champlain Street/NYS Route 11 and Hinson Road in Rouses Point,
NY for $825,000 at a Cap rate of 8%. Area demographics include a population of
11,548 within 10 miles earning $54,178 as the average household income. The
company is selling a 528 sq.ft. building located on Niver Street in Cohoes, NY
for $179,000. The average daily For more information regarding Plattsburgh Plaza, contact
Alex Kutikov, Vanguard-Fine Retail Store Leasing, LLC, 2050 Western Avenue,
Guilderland, NY 12084; 518-862-0861 Ext. 205, Fax 518-867-3082; For more information regarding the site in Pittsfield, MA,
contact Barry Feinman; 518-446-1388; Email: fine106@aol.com. For more
information regarding the Family Dollar site, contact Kenneth Brownell or
Alexander Nichols; 518-862-0861 Ext. 15/18. For more information regarding the
site in Cohoes, NY, contact Gordon Heeps; 518-862-0861 Ext. 206; Triple Net Investments LLC, on behalf of a client, is looking to acquire a single-tenant net-leased property located throughout AZ, CA, NV, OR, TX or WA. Suitable properties should be valued between $2 million and $3 million. The buyer prefers auto-related and fast food sites. For more information, contact Glen Fotre, Triple Net
Investments LLC; 928-830-3870; Holliday Fenoglio Fowler, LP is selling Ridgmar Mall, a 1.27 million sq.ft. regional shopping center located at the intersection of Interstate 30 and SR 183 in Fort Worth, TX. Anchors include Neiman Marcus, Macy’s, JCPenney, Dillard’s, Sears and a 13-screen Rave Motion Pictures. The company is also selling Basset Place, a 591,259 sq.ft. regional shopping center located at the intersection of Interstate 20 and Geronimo Drive in El Paso, TX. The center is 87% occupied and is anchored by Target, Mervyns, Ross Dress for Less, Office Depot, Marshalls and Premiere Cinema 18, and shadow-anchored by Costco. Area demographics include a population of 202,486 within five miles earning $38,923 as the average household income. The average daily traffic count is 35,532 vehicles. The company is also selling Round Rock Crossing, a 272,051 sq.ft. power center located at the intersection of Interstate 35 and State Highway 45 in Round Rock, TX. The center is shadow-anchored by Target and cotenanted by Michaels, Stein Mart, Best Buy, Sportsman’s Warehouse, Edwin Watts Golf and Jason’s Deli. The average daily traffic count is 177,000 vehicles. Area demographics include a population of 500,759 within 10 miles earning $77,089 as the average household income. For more information regarding Ridgmar Mall, contact Barry
Brown and Jim Batjer, Holliday Fenoglio Fowler, LP, 8401 North Central
Expressway, Suite 700, Dallas, TX 75225; 469-232-1968/1970; For more information regarding Basset
Place, contact Barry Brown, Jim Batjer and Judy Boyd; 469-232-1969; Email: Realty Capital is selling two one-acre outparcels on Alafaya Trail/SR 434 in Oviedo, FL. The 0.99-acre site is priced at $1.1 million and the 1.1-acre site is priced at $1.5 million. Area demographics include a population of 167,974 within five miles earning $85,406 as the average household income. The average daily traffic count is 50,496 vehicles. For more information, contact Bill Stephens, Stephen Caruso
or David Wright, Realty Capital; 407-843-7070 Ext. 190/132 or 407-398-6864; Staubach sold Highland Station, a 95,257 sq.ft. shopping center anchored by Publix and located in Atlanta, GA, for $21.671 million. TA Associates Realty acquired the center from Principal Real Estate Investors, represented by Staubach. The center is 100% leased. The company also is selling a 10,125 sq.ft. CVS location located on State Street in Schenectady, NY for $2.9 million. CVS operates under a NNN lease that expires during 2018. The asking price is $2.9 million and includes an assumable, self-amortizing loan at 6.76%. The company is also selling a 29,670 sq.ft. building located along Bald Hill Road in Warwick, RI. The building is currently occupied by La-Z-Boy and World Gym. The NOI is $354,930. The asking price is $4.73 million with a Cap rate of 7.5%. The company is also selling Lincoln Center located on North Generals Boulevard in Lincolnton, NC for $8.9 million at a Cap rate of 7.66%. The net operating income is $681,405. The center is shadow-anchored by Belk and Wal*Mart with additional cotenants including Hibbett Sports and Bi-Lo. For more information regarding Highland Station, contact
Staubach Retail, Justin Greider, 407-455-5036; For more information regarding CVS, contact Sian
Brown or David T. Wojciechowski, 366 Madison Avenue, 5th Floor, New
York, NY 10017; 212-710-5250; Fax 212-710-5251; For additional information regarding the Schnectady, NY and
Warwick, RI properties, contact David Wojciechowski or Sian Brown;
212-710-5241/5248, Fax 212-710-5251; For additional information for the Lincoln Center property, contact Staubach Retail, 212-710-5250. Colliers International is selling Market Street Shopping Center, a 49,824 sq.ft. site anchored by Sellers Brothers and CVS and located in Jacinto City, TX. The asking price is $4.925 million at a Cap rate of 7%. The center consists of three buildings and is cotenanted by Payless ShoeSource and Popeye’s. The company is also selling a 135,929 sq.ft. shopping center located at the intersection of US Highway 171 and Park Road in DeRidder, LA for $6 million at a Cap rate of 7.8%. The net operating income is $468,072. The 62% occupied center is situated on 11.71 acres and is anchored by JCPenney and Stage Stores. For more information, contact Martin O’Malley, Colliers
International, 1300 Post Oak Boulevard, Suite 200, Houston, TX 77056;
713-830-2158, Fax 713-986-4958; Buckley Real Estate Brokerage is selling Perryville Ridge Center, a 16,695 sq.ft. strip center situated on 20 acres at the intersection of Perryville Road and Broadcast Parkway in Loves Park, IL, for $3.741 million at a Cap rate of 8.5%. Spaces of 1,281 sq.ft.; 1,500 sq.ft.; 2,000 sq.ft. and 4,000 sq.ft. are available. Area demographics include a population of 102,075 within five miles earning $80,230 as the average household income. The average daily traffic count is 25,000 vehicles. Area retail includes Peak Fitness, Nextel and Huck’s. The company is also selling Second Street Square, a 13,272 sq.ft. strip center located at the intersection of North Second Street and Pearl Avenue in Loves Park, IL, for $2.338 million at a Cap rate of 8.5%. Spaces of 1,473 sq.ft.; 1,632 sq.ft.; 2,038 sq.ft. and 2,295 sq.ft. are available. Area demographics include a population of 181,986 within five miles earning $62,057 as the average household income. The average daily traffic count is 28,000 vehicles. In addition, the company is selling Riverside Crossings, a 12,895 sq.ft. strip center located at the intersection of Riverside Boulevard and Owen Center Road in Rockford, IL, for $2.86 million at Cap rate of 8.5%. Spaces of 1,473 sq.ft.; 1,632 sq.ft. and 2,295 sq.ft. are available. Area demographics include a population of 127,716 within five miles earning $54,396 as the average household income. Area retail includes Wal*Mart, Radio Shack, GameStop and Cato. For more information, contact Joe Sasnowski, Buckley Real Estate Brokerage, 363 Financial Court, Rockford, IL 61107; 815-381-8805, Fax 815-299-5799. Net Leased Investment Co. is selling a 10,650 sq.ft. freestanding building situated on 0.88 acres along Edmondson Avenue in Catonsville, MD. The building is currently tenanted by CVS under a 20-year NN lease with eight years remaining on the original lease term. The lease includes four, five-year options with rent increases. The asking price is $1.75 million with a Cap rate of 7%. The company is also selling a 2,912 sq.ft. freestanding building situated on 1.1 acres along West Vine Street in Kissimmee, FL. The building is currently tenanted by Arby’s, with approximately nine years remaining on the original lease term. The NNN ground lease includes two, five-year options. The asking price is $881,872 with a Cap rate of 5.75%. For more information, contact Bob Fraser, Bill Ellison or
Scott Austin, Net Leased Investment Co., 120 Alexandria Boulevard, Suite 18,
Oviedo, FL 32765; 407-977-2448, Fax 407-977-0775; GE Capital Solutions is selling a Logan’s Roadhouse restaurant located on Morse Crossing in Columbus, OH for $3.826 million at a Cap rate of 6.65%. The 8,370 sq.ft. building sits on a land area of 85,137 sq.ft. with a lease that is slated to expire during 2026. The restaurant is located in Easton Market, which is anchored by Dick’s Sporting Goods, CompUSA and Bed Bath & Beyond. Area retail includes Staples, Michaels, Old Navy, Joe’s Crab Shack, Red Robin, Smokey Bones, White Castle and Arby’s. The company is also selling an Applebee’s restaurant located on Northwest Highway in Crystal Lake, IL for $2.116 million at a Cap rate of 6.8%. The 5,344 sq.ft. building sits on a land area of 54,093 sq.ft. and is an outparcel to a shopping center anchored by Bed Bath & Beyond, Borders, Best Buy, Sam’s Club and Office Depot. Area retail includes Kmart, Jewel/Osco, Hobby Lobby, Toys "R" Us, T.J. Maxx, Target, Wal*Mart, Home Depot, PetSmart, Circuit City, Baker’s Square, IHOP, Chili’s, Corner Bakery, T.G.I. Friday’s, Bennigan’s, Chuck E. Cheese’s and Village Square. For more information, contact GE Capital Solutions;
407-540-2222, Fax 407-540-2044; Orion Investment and Management Ltd. Corp. is selling a 1.4-acre site for $3.1 million at the intersection of Palm Beach Lakes Boulevard and Forum Way in West Palm Beach, FL. The property is located across from Home Depot and area retail also includes Target, Best Buy and BrandsMart, as well as Palm Beach Mall, which is anchored by Macy’s, Dillard’s, JCPenney and Sears. The company is also selling an 11.77-acre site at the intersection of Wickham Road and Business Center Boulevard in Melbourne, FL for $5 million. The company is also selling a 17,840 sq.ft. building situated on a land area of 70,325 sq.ft. on Southwest 22nd Street in Miami, FL for $4.6 million. The building is 100% leased to Washington Mutual, which has a lease through June 2009. The net operating income is $194,000. The site has approvals to be redeveloped to a 157,036 sq.ft. mixed-use center. For more information regarding the sites in West Palm Beach
and Melbourne, contact Steve Rigl, Orion Investment and Management Ltd. Corp.,
9155 South Dadeland Boulevard, Suite 1602, Miami, FL 33156; 305-278-8400; For more information regarding the site in Miami, contact
Norman J. Buhrmaster; Signature Associates negotiated the sale of a 7,815 sq.ft. retail space located on Van Dyke Avenue in Sterling Heights, MI. The company represented the seller, GTR Builders, in the sale to Leanardo Heights, LLC. The company also negotiated the sale of 2,147 sq.ft. on Alexis Road in Toledo, OH. The company represented the seller. In addition, Signature Associates negotiated the sale of 7,260 sq.ft. on McCord Road in Holland, OH. The site is located in front of a Wal*Mart. The company represented the buyer. For more information regarding the site in Sterling Heights, contact Louis Ciotti or Viktor Gjonaj, Signature Associates, One Towne Square, Suite 1200, Southfield, MI 48076; 248-359-0608/3832; Emails: lciotti@signatureassociates.com and vgjonaj@signatureassociates.com. For more information regarding the site in Toledo, contact
Sam Zyndorf, Signature Associates, Four SeaGate, Suite 608, Toledo, OH 43604;
419-249-6300; For more information regarding the site in Holland, contact
Bill Cosgrove or Joe Francis; 419-249-6308/6320; Shane Investment Property Group, LLC is selling Buford Highway Shopping Center, a 207,314 sq.ft. neighborhood shopping center located at the intersection of Interstate 285 and Buford Highway in Atlanta, GA, for $38.25 million at a Cap rate of 7.08%. The center is 100% occupied and anchored by Buford Highway Farmers Market. Area demographics include a daytime population of 187,537 within five miles. The company is also selling the following properties: The Plaza at Windward, a specialty center located in Alpharetta, GA, for $20.2 million at a Cap rate of 6.89%; Bridges at Conyers, a shopping center located in Conyers, GA, for $3.325 million at a Cap rate of 7.67%; Demopolis Town Center, a center located in Demopolis, AL, for $3.2 million at a Cap rate of 7.47%; Maxway Dollar General, located in Montgomery, AL, for $975,000 at a Cap rate of 7.75%; Waffle House & Fulton Festival, a 100% leased strip center located in Atlanta, GA, for $1.75 million at a Cap rate of 7.28%; Tires Plus, located in Suwanee, GA, for $2.315 million at a Cap rate of 7.45% and a NNN-leased automotive portfolios located throughout Atlanta, GA for $810,000 at a Cap rate of 10.07%. For more information, Jeff Enck, Shane Investment Property
Group, LLC, 100 North Point Center East, Suite 150, Alpharetta, GA 30022;
770-481-1960, Fax 770-481-1961; Charter Oak Retail Consultants, Inc. is selling a 1.4-acre site located on Washington Street/Route 1 in Attleboro, MA. The average daily traffic count is 30,000 vehicles. Area retail includes Applebee’s, Toys "R" Us, Office Depot, Borders, Tweeter, Marshalls, Old Navy, Pier 1 Imports, Longhorn Steakhouse, Panera Bread, Dick’s Sporting Goods, DSW, Circuit City, Jo-Ann, Bed Bath & Beyond, Lowe’s Home Improvement, Wal*Mart, Friendly’s, Uno Chicago Grill, Stop & Shop, Modell’s, Burlington Coat Factory, Petco, Staples, T.J. Maxx, Ruby Tuesday, BJ’s Wholesale Club, David’s Bridal, Guitar Center, Best Buy, PetSmart, The Furniture Warehouse, Michaels, T.G.I. Friday’s, Babies "R" US and Target. The company is also selling a 2.10-acre site located on Falmouth Road/Route 28 in Mashpee, MA for $1.45 million. Area retail includes Stop & Shop, Marshalls, Roche Bros. and Gap, Starbucks, Regal Cinemas and CVS at Mashpee Commons. For more information, contact Paul Gibbs, Charter Oak Retail
Consultants, Inc., PO Box 374, Sandwich, MA 02563; 508-888-3506, Fax
508-888-3507; Arnold Group Real Estate represents a buyer looking to acquire NNN bank-leased properties priced at up to $5 million in AK, TN or TX. For more information, contact Kent Arnold, Arnold Group Real Estate, 312 South Main Street, Jonesboro, AR 72401; 870-932-2600, Fax 800-401-1437. Premier Commercial Realty is selling a 10,350 sq.ft. shopping center situated on 2.78 acres at the intersection of Randall Road and Harnish Road in Algonquin, IL for $3 million at a Cap rate of 8.1%. There is also the potential for an additional 10,000 sq.ft. of retail to be built at the site, priced at $3.373 million with a Cap rate of 7.2%. CAM totals $2 psf and taxes total $3.50 psf. Area demographics include a population of 157,133 within five miles earning $86,435 as the median household income. The average daily traffic count is 44,200 vehicles. For more information, contact Joseph Billitteri or Bruce
Kaplan, Premier Commercial Realty, 9225 South Route 31, Lake in the Hills, IL
60156; 847-854-2300 Ext. 21/20, Fax 847-854-2380; McKinley disposed of Piqua Plaza on behalf of Capmark, Inc. The 138,742 sq.ft. shopping center is located in Piqua, OH. For more information, contact Mary S. Williams, McKinley; 734-769-8520 Ext. 244.
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