Opportunities

FOR SALE

Miami Mixed-Use

Mixed-use development site of 4.23 acres is available. Closest waterfront site to new Miami (Heat) Arena and Performing Arts Center. Zoned high-rise, commercial retail, hotel, office, residential, entertainment or mixed-use. As zoned density, the property equates to 265,000 sq.ft. commercial and 561 residential units.

For more information, contact Richard Abel, EWM Commercial, 305-439-1945 or 877-869-1945.

Las Vegas Strip

A 26-acre site on the famed Las Vegas Strip, located across the street from The Sahara Hotel/Casino, is for sale. Located on the north end of the Strip, the property is zoned for hotel/casino use and was the original site of El Rancho Vegas Hotel. 

For more information, contact Kevin Higgins or Keith Spencer, CB Richard Ellis, 702-369-4800.

Wichita Building

Owner wants quick sale of 50,000-sq.ft. building in Old Town, Wichita’s warehouse, retail and entertainment district. Multiplex theater planned directly to the north and 200,000 sq.ft. retail and residential development planned to the west. Price is $950,000.

For more information, contact Blake Elliott, Summit Commercial Properties, 316-612-7002; e-mail: blake@summitcp.net.

Space in Pensacola

Two 13,000-sq.ft. buildings are available near intended city revitalization area in Pensacola. Both include service entrances, storage, and many updates to include plumbing and wiring. Both are centrally located near Rosie O’Grady’s, Seville Square and Maguire’s Irish Pub. Owner financing may be available.

For more information, contact Larry M. Neal, 850-479-7355, Fax 850-479-9154; e-mail: Nealassoc@aol.com.

FOR LEASE

Cocoa Beach

15,000 sq.ft commercial building in the heart of Cocoa Beach, FL. Building was the old Cocoa Beach Library and is located on A1A, a high traffic area. Lease terms one to three years at $4.35 psf net. 

For more information, contact Gene Artusa, First Realty, Inc., 800-660-6552.

Chicago Space

Space of 6,928 sq.ft. is available at 840 North Michigan Avenue at the southwest corner of North Michigan Avenue and Chestnut Street, Chicago. Other retailers in the area include Escada, Structure, FAO Schwarz, Lord & Taylor, Bloomingdales, Marshall Fields, Borders Books & Music and J Crew. 

For more information, contact Christopher J. Schramko, The Lord Companies LLC, One East Delaware Place, Suite 310, Chicago, IL 60611; 630-789-6524.

Upper West Side, NYC

Retail leasing opportunities in the Upper West Side of Manhattan, located in the 70s and 80s, Broadway and Columbus Avenue, near Museum of Natural History, Columbia University area and Chelsea. Space also available in NJ, near NYC. Listings include available development sites as well as commercial and warehouse opportunities.

For more information, contact Antonio Quinlan, Walker, Malloy & Co., Inc., 101 West 70th Street, Suite 2N, New York, NY 10023; 212-874-1686, ext. 104, Fax 212-724-6386.

New Rochelle, NY

Plastic Works Building, a 20,000-sq.ft. mixed-use building overlooking exit 16 of I-95, has 15,000 sq.ft. available spanning four floors. Permitted uses include retail, office and storage. The site offers 100+ spaces for on-site parking. 

For further information, contact Eric S. Goldschmidt of Goldschmidt & Associates, One Chase Road, Scarsdale, NY 10583; 914-723-1616, Fax: 914-723-7720; e-mail: eric@goldschmidtassociates.com. Web site: www.goldschmidtassociates.com.

Music City Mall

Music City Mall, a 750,000-sq.ft. mall located in Odessa, TX, has spaces of 1,805 sq.ft., 2,230 sq.ft. and 2,800 sq.ft. plus outlots of 3,000 sq.ft. to 25,000 sq.ft. are available. The anchors include JCPenney, Sears, Dillards, Mervyns and Bealls. The project recently added an ice rink and a multiplex theater. Daily traffic count is 31,000 cars. Area demographics include a population within a 10-mile radius of 124,000 earning an average income of $44,000.

For further information, contact Michelle Taylor of Music City Mall, 4101 East 42nd Street, Odessa, TX 79762; 915-550-2483, Fax 915-363-0161; e-mail mcmice@music-city-mall.com; Web site: www.music-city-mall.com.

Washington, DC

Spaces totaling 15,868 sq.ft. are available in the three-floor retail and office mixed-use center located at 825-829 7th Street in Washington, DC. This urban/downtown site is located near Coco Loco, MCI Center and Gallery Place Metro. Also available is 23,208 sq.ft. of retail/office space at 720 7th Street, NW. 

For further information, contact Norman Jemal or Blake C. Esherick of Douglas Development, 702 H Street, NW, Suite 400, Washington, DC 20004; 202-638-6300.

239 Greenwich Avenue

The mixed-use building located at 239 Greenwich Avenue, Greenwich, CT has retail space available for lease. Anchors include Chico’s and Restoration Hardware in the 32,000-sq.ft. building. Upper floors contain high-end apartments with retail at street level. Demographics within a five-mile radius include a population of 130,123 earning an average income of $86,828.

For further information, contact Timothy J. Bruce, Acadia Realty Trust, 20 Soundview Marketplace, Port Washington, NY 11050; 516-767-8830, Fax 516-767-8839.

ACQUISITIONS 

Redevelopment Opportunities

Aspen Portfolio Strategies, Inc. represents six brownfield developers looking for redevelopment opportunities, $5 million and up, that are willing to assume environmental risk while supplying the previous owner with appropriate indemnification. The company also represents three sources of equity and debt capital that are providing financing to developments of similar size on environmentally-challenged lands, e.g. brownfields, landfills, wetlands, etc.

For more information, contact Rick Mandell, Aspen Portfolio Strategies, Inc., 2255 Emma Road, Basalt, CO 81621; 970-927-3666, Fax 970-927-2623; e-mail: mandell@rof.net.

Investment Properties

International Success Unlimited USA, Inc. has an investment group interested in acquisition of single tenant, triple net lease, national chain retail, restaurant, entertainment-related property. Triple net lease with periodic rent escalations with a minimum of 10 years remaining on the lease is preferred. Desired tenants include national and multi-regional chains with B+ or better credit ratings. The company will consider unrated and privately-held companies who are leaders in their markets. Properties up to 50,000 sq.ft. are sought nationally, with no maximum dollar limit. Immediate purchase, forward takeout commitment, sale-leaseback, construction financing and development venture are acceptable.

For more information, contact E. F. White, International Success Unlimited USA, Inc., 13777 Ballantyne Corporate Place, Suite 250, Charlotte, NC 28277; 704-289-5122, Fax 704-292-2217; e-mail efwhite@isu-online.com.

EMPLOYMENT 

Positions Open

The Greenberg Group has an immediate opening for vice president of site selection. This individual would be assigned to one or more of our national retail accounts and work directly with that company’s senior management to identify the best retail real estate and then open new stores on behalf of that client. Presentation specialist position is open for an individual who is experienced in Powerpoint and Excel. This support person would assist in putting together market analysis reports. The Greenberg Group currently represents Gucci, La Coste and Waterworks.

For further information, contact The Greenberg Group Inc., 1200 Broadway, Hewlett, NY 11557; 516-295-0406, Fax 516-374-0999.

CORRECTION 

In the Opportunities section of the April issue of ESP, incorrect information was submitted regarding leasing for the Centre of New England. The listing indicated that Mikasa had signed on as an anchor; Mikasa has not signed on as an anchor but has expressed interest in the project. Tax incentive information should have read: No retail inventory tax or wholesale tax indefinitely; no personal property taxes for 10 years, and no real estate taxes for the first year, then approximately a 10-percent escalation for the next 10 years.

For more information, contact Lori A. Marchetti or Julie A. Menard, Universal Properties Group, Inc., 207 Quaker Lane, Suite 300, West Warwick, RI 02893; 401-828-3500, Fax 401-823-7329.