IpofA West Oaks LP bought the 500,000-square-foot West Oaks Shopping Mall in Houston for $102 million. The mall is 90 percent leased and anchored by Sears, Linens ‘N Things and Steve and Barry's. Tremont Realty Capital helped structure the.
Orlando, Fla.-based Grubb & Ellis/Commercial Florida, an affiliate of Grubb & Ellis, plans to increase transaction volume in central Florida by 15 percent to 20 percent next year by focusing on retail property leasing and land.
A portfolio managed by UBS Realty Investors LLC purchased the 160,000-square-foot Warner Marketplace in Canoga Park, Calif., for $52 million from Bisno Development. Tenants include Bed Bath & Beyond, Borders Books and Pier 1 Imports. Transwestern Commercial Services negotiated the sale.
CBL & Associates Properties Inc. purchased the 672,000-square-foot Layton Mills Mall in Layton, Utah, from affiliates of Gregory Greenfield & Associates Ltd. for $121.4 million. The cap rate was 6.7 percent. Located near Salt Lake City, the mall is 96.3 percent occupied and is anchored by JCPenney, Meier & Frank and Mervyn's.
Sperry Van Ness completed the sale of 6.2 acres in Mooresville, N.C. to an undisclosed buyer for $1.4 million for retail and NASCAR-related facilities.
Shopping center security company IPC International Corp. purchased a controlling interest in St. James Holdings of Newcastle, England. St. James Holdings operates St. James Security and Touchline Event Management, which provides staffing and management to sporting and leisure events.
Combined Properties Inc. bought the 65,500-square-foot Brentwood Place in Brentwood, Calif., from Champion Development Group for $30.9 million. The center includes Sav-on, Ross Dress for Less and Jamba Juice. REZA Investment Group represented both the buyer and seller.
Kahana Partners LLC purchased Kahana Gateway Shopping Center, with 60,000 square feet of rentable retail space, on the island of Maui in Hawaii from Triple Net Properties for $26.75 million. The center is 96 percent leased with tenants such as Outback Steakhouse and Roy's Kahana Bar and Grill. Faris Lee Investments represented the buyer.
Kimco Realty Corp. purchased Horsham Point in Horsham, Pa. and Carlisle Marketplace in Carlisle, Pa. for $30.5 million. The 75,206-square-foot Horsham Point is 100 percent leased and anchored by Giant Food and CVS. Tenants at the 90,183-square-foot Carlisle Marketplace are Giant Food and Dollar General. Real estate investment banking firm Sonnenblick-Goldman Corp. arranged the deal.