TNP Strategic Retail Trust Inc. will pursue the acquisition of Craig Promenade, a retail center in North Las Vegas. An affiliate of Thompson National Properties LLC, the company's sponsor, has entered into a purchase agreement to acquire Craig Promenade for a substantial discount from the original loan balance on the property. The assignment of the purchase agreement to the Company and the closing of the acquisition are subject to substantial conditions, including, among other things, obtaining financing and raising sufficient funds to finance a portion of the acquisition. The property is comprised of 109,250 square feet, which includes 91,750 rentable square feet and two raw land parcels consisting of 17,500 buildable square feet that can be sold, ground leased or developed. Constructed in 2005, Craig Promenade is 77.5% leased and anchored by Big Lots.

Regency Centers has leased 30,605 square feet of retail space in North Las Vegas at Deer Springs Town Center to Michaels. Michaels was represented by Tami Lord of Legend Retail Group and Regency by Michael Gleason of ROI Commercial Real Estate Inc. “The addition of Michaels further enhances the merchandise offerings at Deer Springs Town Center, providing the only crafts store within 5 miles,” says Gregg Sadowsky, Regency Centers’ vice president. “Deer Springs is well positioned to serve as a regional draw with the opening of the interchange at 5^th Street and County 215 Beltway this Summer.”

Los Angeles

Colliers International, the second largest global real estate services organization, has completed four retail sales totaling $11.25 million in greater Los Angeles area. Jereme Snyder, senior vice president in Colliers International’s Irvine office, closed all four sales. The first is the sale of a 25,825-square-foot retail building located at 18527 Yorba Linda Blvd. in Yorba Linda, CA to a private Orange County-based investor. The transaction is valued at $5.2 million. The second is the sale of a 2,360-square-foot retail building located at 308 Abbot St. in Salinas, CA to a private investor. The transaction is valued at $660,000. This single tenant 7 eleven had a corporate guaranteed NNN lease, and is located at the Southwest corner of Abbot Street and Maple Street. Snyder represented both the seller, Evercore Trust Co. and the buyer. The third is the sale of a 42,289-square-foot retail building located at 9155 Jurupa Rd. in Riverside, CA. The transaction is valued at $3 million. The fourth is the sale of a 3,198-square-foot retail building located at 8660 W. Warm Springs Rd. in Las Vegas to a private investor. The transaction is valued at $2.3 million.

Voit Real Estate Services has been selected to market an 85,300-square-foot divisible office building in Monterey Park. The property, McCaslin Business Park, is available for sale or lease for the first time in 30 years. Los Angeles County has occupied the building since the 1980s. David Fults and Brian McLoughlin of Voit’s Commerce office are representing the owner. “This property offers an excellent investment opportunity for business owners or investors seeking growth in the thriving business climate of Monterey Park,” says David Fults, senior vice president of Voit’s Commerce office. “The current tenant will remain in the space through May of 2012, so there is built-in income for a buyer, or a lease can be signed now for a June 2012 occupancy.” McCaslin Business Park is available for sale at $15.95 million, which equates to $186.99 per square-foot of space. The building is located at 2 Coral Circle in Monterey Park, CA.

Sacramento

Mid-Peninsula Properties Inc. has selected Bryce MacDonald, senior associate of the industrial group at Grubb & Ellis Co., to lease three warehouse/distribution buildings in Stockton totaling more than 375,000 square feet of space. “This is an excellent portfolio of properties located in close proximity to major highways and offers rail service to all three buildings,” says MacDonald. The properties are located at 1201, 1203 and 1275 N. Gertrude Ave., and offer approximately 100,000, 200,000 and 75,000 square feet of space, respectively. Built in 1976, each building offers 10 dock positions and is fully available for lease. The properties are located within close proximity to state Routes 99 and 26 and are rail serviced by the Central California Traction Co.

San Diego

Voit Real Estate Services has directed both a sale and an acquisition of two industrial properties, totaling 16,540 square feet of space. Nick Price of Voit Real Estate Services’ San Diego office represented the seller, Fred West, in the sale of an 8,500-square-foot industrial property for a total consideration of $1.147 million. The property was sold to Askew Industrial, an owner user which was also represented by Price. Price then represented West in the $754,000 short-sale acquisition of an 8,040-square-foot industrial property. The seller, Ralph Rubio of Rubio’s restaurants represented himself in the transaction. The 8,500-square-foot industrial property that was sold is located at 1636 Wilson Ave. in National City, CA. The 8,040-square-foot industrial property that was purchased is located at 221 W. 33^rd St. in National City, CA.

Opened in October 2010, the new $260 million Rady Children’s Hospital Acute Care Pavilion, located at 3020 Children’s Way in San Diego has been LEED Certified by the USGBC. Built by McCarthy Building Cos. Inc., the 279,000-square-foot facility is the first acute care hospital in the state to meet the rigorous standards of quality and safety mandated by the Office of Statewide Health Planning and Development, while also meeting the level of occupant health and environmental sustainability required to earn it LEED Certified status.