Sevens Building sells in Missouri

A limited liability company recently purchased a 24-story, class A office building just outside St. Louis, Mo., for an undisclosed price.

NNN 2003 Value Fund LLC bought The Sevens Building, which includes approximately 197,000 square feet in the city of Clayton, from Sevens St. Louis LLC.

Built in 1972, The Sevens Building was completely renovated between 1998 and 2000, and includes a 10-level, 875-space parking garage.  more...

West Hollywood retail commands big price

An unidentified private investor paid $13.9 million for a three-building retail portfolio in West Hollywood, Calif.

The property, located at 624-630 N. La Cienega Blvd., includes 9,270 square feet and was purchased for the land value.

Nolaci Investments sold the portfolio, which at the time of sale was occupied by Train West Hollywood, a private gym with more than 100 personal trainers offering one-on-one private training.  more...

LLC sheds North Carolina business park

Interstate Business Park, a nine-building property in Charlotte, N.C., has sold to a joint venture for $12.3 million.

California-based CIP Real Estate and Maryland-based Alex Brown partnered to purchase the 167,763-square-foot asset from Norfolk, Va.-based Charlotte Park Associates LLC.

The property, which includes single-story office/flex/warehouse buildings, is located on Stuart Andrew Boulevard at the intersection of Clanton Road and Interstate 77. It was constructed between 1981 and 1984.  more...

L.A.'s Cornerstone Plaza sells

Douglas Emmett Inc., a real estate investment trust, today announced it has acquired Cornerstone Plaza, a class A, Los Angeles office building, for a contract price of $84 million.

The property, which comprises approximately 174,000 square feet, is located at 1990 South Bundy Drive.

This acquisition increases the company's assets within the Olympic Corridor submarket to five office buildings, totaling approximately 1.1 million rentable square feet.

At the time of sale, the property was 84.2 percent occupied, according to a press statement.

24 Hour Fitness signs lease, plans new store

Nationwide fitness company 24 Hour Fitness USA Inc. recently signed a long-term lease for approximately $11.6 million to build out and occupy space in a San Diego County shopping center.

The 35,000-square-foot parcel, located in the Sycamore Terrace Shopping Center in Vista, Calif., is owned by Western Skies Blue River Associates.  more...

Irvine business park sold after completion

The developer of a large, multibuilding industrial park in Irvine, Calif., has sold the recently built asset for $33.7 million, Voit Commercial Brokerage reported today.

Voit represented the buyer, Don Wilson Builders, in the purchase of Goodyear Business Park, which comprises seven buildings and 145,000 square feet. Addresses at the complex include 8 Goodyear, 12 Goodyear, 14 Goodyear, 16 Goodyear and 18 Goodyear.  more...