Retail plaza sold near Lake Tahoe

California investor swoops in

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Grubb & Ellis Co. arranged the purchase of Round Hill Square, a 118,483-square-foot, mixed-use property in Zephyr Cove, Nev. The value of the transaction was $40.6 million. The class A property, which is located at 212 Elks Point Road, was 100 percent leased at the time of sale, and anchored by Safeway and the U.S. Postal Service. It was built in 1998. Douglas Capital of Zephyr Cove sold the property to Pacific Capital Investments, a Roseville, Calif.-based private investment group. Grubb & Ellis Co. is a full-service commercial real estate organizations operating worldwide. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....