Northern California's 5 Points Shopping Center sells

LaeRoc Funds, a Los Angeles-based investment fund, has purchased 5 Points Shopping Center in a Sacramento, Calif., suburb for an undisclosed price.

The 50,140-square-foot retail asset, sold by Stockton, Calif.-based Progenitor Holdings Co., is located at 5100 Arden Way in the city of Carmichael.

At the time of sale, 5 Points Shopping Center was 100 percent leased at the time of sale by tenants that included 24 Hour Fitness, Hollywood Video and Coldstone Creamery.  more...

IRS leases space in Phoenix

The United States Internal Revenue Service has inked a 10-year lease for seven floors of office space in a downtown Phoenix, Ariz., building for a price of approximately $25 million.

The property, located at 4041 N. Central Ave., comprises 107,849 square feet of space in a 20-story building.

The site, which also features several two-story plaza buildings, is owned by 4041 Central Plaza LLC/Younan Properties.

Chicago portfolio sold to Behringer Harvard

Behringer Harvard this week announced it has completed the purchase of four office properties located in the central business district of Chicago, Ill., for an undisclosed price.

The portfolio consists of the following: One Financial Place, located in the city's South Loop; and 10 South Riverside Plaza, 120 South Riverside Plaza and 200 South Wacker Drive, all of which are located in the West Loop.  more...