Off-market L.A. deal breaks $41 million

The Encino Courtyard, a 99,305-square-foot retail center in Encino, Calif., has sold to a private investor for $41.4 million.

West Los Angeles-based Encino Courtyard LP bought the four-acre property in an off-market transaction from Encino Realty Group LLC.

The property, which is located at 17401 Ventura Blvd., was 97 percent leased at the time of sale, and is anchored by Bed Bath & Beyond and Bally's Total Fitness.

New Jersey's Southfield Center sold

A subsidiary of New York-based Navika Capital Group LLC recently purchased the Southfield Center in South Plainfield, N.J., for $19.6 million.

Southfield Crown Realty acquired the 160,000-square-foot, class A office building from Realty Associates Iowa Corp.

The three-story asset is situated on nearly 15 acres at the intersection of Cragwood and Hadley roads, and features an on-site sundries/sandwich shop and daycare center. At the time of sale, the property was 92 percent leased.

Large Chicago-area TIC purchase

Tenant-in-common investors on Thursday closed on the purchase of an approximately 153,000-square-foot office building outside Chicago for an undisclosed price.

Church Street Office Center, sold by an entity of the same name, is an eight-story, class A facility located in Evanston, Ill. Completed in 1984, the property features a three-and-a-half-level parking garage containing 307 spaces, as well as 45 uncovered spaces in an adjacent lot.  more...