buyers and sellers Marcus & Millichap is selling a 6,000 sq.ft. Bank of America and a 6,000 sq.ft. Jared- The Galleria of Jewelry store situated on 1.58 acres in King of Prussia, PA. The tenants are bound to NNN leases with 15 years remaining on the initial term. Bank of America has rent escalations of 12% every five years and Jared- The Galleria of Jewelry has rent escalations of 6% every five years. Area retail includes King of Prussia Court, featuring Bloomingdale’s, Macy’s and DSW. Area demographics include a population of 67,000 within a three-mile radius earning $100,000 as the average household income. The average daily traffic count is 102,000 vehicles. The NOI is $857,574. The asking price is $15.6 million with a Cap rate of 5.5%. The company also negotiated the sale of a 138,134 sq.ft. Lowe’s Home Improvement located along Manchester Drive in Windham, ME. The property was acquired for $12.406 million. At the time of the sale, the tenant was bound to a NNN lease with 12 years remaining on the initial term. The company represented the seller in the transaction. For more information regarding the King of Prussia property, contact Mark E. Taylor, Marcus & Millichap, 101 West Elm Street, Suite 600, Conshohocken, PA 19428; 215-531-7063; Email: mark.taylor@marcusmillichap.com; Web site: www.marcusmillichap.com. For more information regarding the Windham property, contact Ben Johnson; 925-953-1736. Jones Lang LaSalle is selling a 56,972 sq.ft. shopping center located at the intersection of Candelaria Road Northeast and Juan Tabo Boulevard Northeast in Albuquerque, NM. The property is 100% occupied and anchored by a 47,400 sq.ft. Albertsons grocery store. Area demographics include a population of 133,000 within a three-mile radius earning $183,012 as the median household income. The NOI is $443,999. The asking price is $6.125 million with a Cap rate of 7.25%. For more information, contact George Cushing or Wendy Vandeventer, Jones Lang LaSalle, 1400 Post Oak Boulevard, Suite 1100, Houston, TX 77056; 713-4255849/5845; Emails: george.cushing@am.jll.com and wendy.vandeventer@am.jll.com; Web site: www.joneslanglasalle.com. Cohen Real Estate is selling Skyway Plaza, a mixed-use shopping center located in Caribou, ME. Save-A-Lot and State of Maine Department of Health and Human Services anchor the center. For more information, contact Ric Kaiser, Cohen Real Estate; 212-803-5777; Email: kaiser@cohenco.com. Dealmakers Magazine | www.dealmakers.net
CB Richard Ellis negotiated the sale of Gettysburg Address, a 93,855 sq.ft. shopping center located at the intersection of East Gettysburg Avenue and North First Street in Fresno, CA. At the time of sale, Fresno Ag Hardware anchored the center. The company represented the seller in the transaction. The company is also selling Metroplex Shopping Center, a 20,400 sq.ft. shopping center situated on three acres along Craig Street in Indianapolis, IN. The property is 50% occupied. Area demographics include a population of 53,270 within a three-mile radius earning $65,729 as the average household income. The average daily traffic count is 50,000 vehicles along 82nd Street For more information regarding Gettysburg Address, contact Dan Riley, Sam Alison or Ben Cherney, CB Richard Ellis, 2221 Rosecrans Avenue, Suite 100, El Segundo, CA 90245; 310-363-4899/818-9074727/4726; Emails: dan.riley@cbre.com; sam.alison@cbre.com and ben.cherney@cbre.com; Web site: www.cbre.com. For more information regarding Metroplex Shopping Center, contact Kevin Broderick or Matt Gray; 317-269-1089/1031; Emails: kevin.broderick2@cbre.com and matt.gray@cbre.com. Colliers International – Northeast Florida negotiated the sale of Metro North, a shopping center located along North Main Street in Jacksonville, FL. For more information, contact David Ergisi, Colliers International – Northeast Florida, 50 North Laura Street, Suite 1725, Jacksonville, FL 32202; 904-861-1117, Fax 904-353-4949; Email: david.ergisi@colliers.com; Web site: www.colliers.com.
First Western Properties is selling a 6,880 sq.ft. shopping center located along Turner Avenue in Elk Grove Village, IL. The property is 91% occupied. Area demographics include a population of 218,955 within a five-mile radius earning $76,719 as the average household income. The asking price is $895,000. For more information, contact Leo Solarte or Paul Tsakiris, First Western Properties, 1205 West Adams, Chicago, IL 60607; 773545-2000 Ext. 98/80, Fax 773-545-4067; Emails: leo@1stwesternproperties.com and paul@1stwesternproperties.com. The Boulder Group is selling the following properties: a Shopko for $9.225 million in Milwaukee, WI; a Shopko for $8.4 million in Green Bay, WI; a Fifth Third Bank for $3.925 million in Chicago, IL; a Home Depot for $2.23 million in Dallas, TX; a Sonic-Drive-In for $975,000 in Columbus, OH and a Family Dollar for $768,000 in OH. For more information, contact Randy Blankstein or Jimmy Goodman, The Boulder Group, 666 Dundee Road, Northbrook, IL 60062; 847-562-0003/8500; Emails: rblank@bouldergroup.com and jimmy@bouldergroup.com. Lucescu Realty negotiated the sale of Stadium Center Shopping Center, a 421,126 sq.ft. community shopping center situated on 42.3 acres at the intersection of State Route 120 and Airport Way in Manteca, CA. At the time of sale, tenants included Coscto, Kohl’s, Ross Dress for Less, OfficeMax, Old Navy and JoAnn Fabrics. The property was acquired for $41.15 million. For more information, contact Mark Lucescu, Lucescu Realty; 949-706-7772 Ext. 100; Web site: www.lucescurealty.com. DM
Jones Lang LaSalle is selling a shopping center ancored by Albertson’s in Albuquerque, NM. August 2, 2013 | Page 5