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TIGARD, OR-BV CenterCal LLC, a joint venture controlled by the California State Teachers Retirement System has acquired Bridgeport Village, the 465,000-sf, open-air shopping center off Interstate 5 here that is under construction and set for a grand opening in May. The purchase price was $170 million, according to public records. The seller was the developer, Bridgeport Village LLC, which is a joint venture of Opus Northwest LLC, a local division of Minnesota-based Opus Group, and Bridgeport Village Associates LLC. Bridgeport Village Associates is owned by Fred Bruning and Jean Paul Wardy, the principals of Gresham-based Center Oak Properties. Bruning tells GlobeSt.com that he and Wardy hold a minority interest in BV CenterCal as well.Opus Northwest's Portland executive Bruce Wood, who spearheaded Bridgeport Village with Bruning, tells GlobeSt.com that the project is about 70% complete and, according to Bruning, about 67% leased, with leases under negotiation set to push that figure to 87%. Both declined to comment on the cost of the project, but did say that Opus remains obligated to complete all final aspects of the project, says Wood. The transaction closed late last month. While the total development cost of the project is over $200 million, some of the buildings were paid for by their tenants, who signed ground leases rather than building leases. The total cost to the developer is believed to be in the vicinity of $150 million.The first retail activities began at Bridgeport in November, when Crate & Barrel opened its first store in the region. The store reportedly has generated record sales per sf for the chain. Other tenants preparing to open include Wild Oats Market, Borders Books and Cafe, Regal Cinemas, McCormick & Schmick Grill, J. Jill, Coldwater Creek, Talbots, Helly Hansen, New Balance, Lucy Activewear, Patrick James, Z Gallerie and French Quarter. "I believe it will be one of the highest volume retail centers on the West Coast in terms of sales per sf," says Bruning. In addition to Wood, Bruning and Wardy and their respective companies, the Bridgeport Village development team include Perkowitz + Ruth Architects, leasing agent Gray & Associates, Kittelson & Associates Inc., LDC Design Group, RCI of Oregon, GeoDesign, Terra Associates and David Evans and Associates Inc.