The California Public Employees’ Retirement System (CalPERS) committed to invest $222 million in equity in three shopping malls in the US. The three shopping centers located in CA TX and IL total nearly 4.5 million sq.ft. An estimated $69 million was invested in the 800 000 sq.ft. Century City Shopping Center & Marketplace in Los Angeles CA which is anchored by Bloomingdale’s and Macy’s and contains 300 000 sq.ft. of specialty shops. Another investment is an estimated $65 million in the 1.7 million sq.ft. The Houston Galleria Shopping Center in Houston TX which is anchored by Neiman Marcus Saks Fifth Avenue Lord & Taylor and Macy’s. This property includes 900 000 sq.ft. of specialty shops and an ice skating rink. Rodamco is currently implementing a $25 million renovation and an expansion stategy that includes 200 000 sq.ft. of specialty shop space and the addition of Nordstrom’s and Foley’s. The other investment is an estimated $88 million in the two million sq.ft. Oak Brook Shopping Center in Chicago IL which is anchored by Neiman Marcus Saks Fifth Ave. Nordstrom’s Marshall Fields Lord & Taylor and Sears. The property also houses 800 000 sq.ft. of specialty shops three office buildings a hotel and a freestanding movie theater.

For more information contact Brad Pacheco CalPERS Lincoln Plaza 400 P Street Sacramento CA 95814; 916-326-3000

For more information contact BVT 3350 Riverwood Parkway Southeast Suite 1500 Atlanta GA 30339; 770-618-3500; 770-618-3559.

Olson Retail Group Inc. has the listing to sell a four-property strip center in Coldwater MI. The centers are the following size and price: Flagstar Bank Plaza at 5 326 sq.ft. for $675 000; Beacon Place Plaza at 7 583 sq.ft. at $685 000; Save-A-Lot-Plaza at 26 295 sq.ft. for $1.2 million; Blockbuster/Dunham’s Sporting Good Plaza at 39 807 sq.ft. for $2.55 million. Area retail includes a Wal*Mart a Meijer’s and fast food restaurants. The sites are located on Route 12 with close proximity to I-69. All properties are 100% occupied.

Sonnenblick-Goldman Company has the listing to sell the 293 434 sq.ft. Promenade Shops in Aventura FL. The site is located at the intersection of two major arterial roadways in the greater Miami area.

Kellogg Properties Inc. is open to acquire centers of 80 000 sq.ft. to 120 000 sq.ft. in the Southeast. The preffered price range is $7 million to $11 million with a cap rate of 10% and a 95% occupancy. The company will assume debt and work through environmental and near term leases.

Grubb & Ellis has the listing to sell the 84 562 sq.ft. Pierside Pavilion in Huntington Beach CA. The multi-tenant retail/office project is located on Pacific Coast Highway at the intersection of Main Street and across the street from the Huntington Beach Pier. The retail tenants include Fred’s Cantina Huntington Surf and Sport Diane’s Swimwear Gallaghers Grill and Pub Louise’s Trattoria Mr. Karaoke and Subway. The company cooperating with Goldstein Commercial Properties Inc. is listing the sale of 79 486 sq.ft. Main Street Station in Jacksonville FL. The asking price is $5 650 000. The center anchored by Food Lion is 98% leased. The company also has the listing to sell 34 396 sq.ft. within the Bouquet South Shopping Center at the intersection of Newhall Ranch Road and Bouquet Canyon Road in Valencia CA.

Burnham Pacific Properties Inc is selling 18 retail properties to Pacific Retail LP for $158.47 million cash. The shopping centers and malls are located in CA OR NM and UT and total 1.75 million sq.ft. The sale is a part of Burnham Pacific Properties’ continued liquidation of its real estate assets.

UrbanAmerica acquired the Nucleus Plaza Shopping Center in West Las Vegas NV. The company is partnering with Nucleus Investments and KSJ Development Corporation in developing two office buildings and other retail centers in the area. The total investment for the company will be $100 million spread over the next five years.

CB Richard Ellis has the listing to sell two Family Dollar Stores in TX. One site is located on West Division Street in Panhandle TX and the other site is located in Slaton TX on Highway 60 West. Both yield a 10.77% Cap.

Acadia Realty Trust sold the 207 000 sq.ft. Wesmark Plaza in Sumter South Carolina.

Boos Development Group Inc. has the following single-tenant properties for sale: a 2 940 sq.ft. 7-Eleven on West Commercial Boulevard in Sunrise FL for the asking price of $2 232 424; a 61 420 sq.ft. Publix on West Commercial Boulevard in Sunrise FL for the asking price of $9 410 318; a 54 470 sq.ft. Publix on US 1 in Sebastian FL for $6 873 247; a 6 832 sq.ft. Tires Plus on Stone Mountain Highway in Stone Mountain for $1 883 200; a 6 933 sq.ft. Tires Plus on Alpharetta GA for $2 109 492; a 6 272 sq.ft. Tires Plus on the corner of Highway 138 and Dogwood in Conyers GA for $1 843 686; a 6 832 sq.ft. Tires Plus on Buford Highway in Duluth GA for $1 687 265; a 6 832 sq.ft. Tires Plus on the corner of New Mackland and Sailor Parkway in Powder Springs GA for $1 745 222; a 6 272 sq.ft. Tires Plus on the corner of Panola and Manola in Decatur GA for $1 730 032; a 6 933 sq.ft. Tires Plus on the corner of Highway 96 and Rand Place in Franklin TN for $1 840 054; a 6 933 sq.ft. Tires Plus on Highway 37 in Nobleville IN for $1 698 573; a 6 980 sq.ft. on the corner of Parker and Ponderosa in Parker CO for $1 806 043; a 10 908 sq.ft. Eckerd on the corner of SR 46 and Rinehart in Sanford FL for $3 557 070; a 10 908 sq.ft. Eckerd on the corner of NWC Shanandoah Parkway and SW 136th Avenue in Davie FL for $3 537 795; and a 10 908 sq.ft. Eckerd on the corner of NEC Apopka Vineland and Colonial in Orlando FL for $2 930 346.

CC Realty Advisors Inc. is in the market to acquire shopping centers in distressed or semi-distressed neighborhoods throughout the north eastern midwestern south central south eastern and south western US. The company goal is to acquire $100 million of centers within the next 12 to 18 months. The minimum GLA is 50 000 sq.ft.

Kenman Corporation has the listing to sell three commercial properties ranging in size from 1.19 acres to 12.17 acres in Hickory NC. All three properties are in a commercial district surrounded by residential areas and close to the new planned super Wal*Mart site. The asking prices range from $380 000 to $1.5 million.

Pomeroy Investment Corp. is in the market to acquire investment properties including major strip centers with GLAs of at least 100 000 sq.ft. nationwide. The company’s preferred deal size is $15 million to $50 million but will consider deals as small as $2 million and as large as over $100 million for portfolios.

The Staubach Company assisted Hughes Commercial Properties in the sale of an 8 675 sq.ft. building located in Knightsville SC northwest of Charleston. The site is net leased to Dollar General.

For more information contact Michelle Davis The Staubach Company 15601 Dallas Parkway Suite 400 Addison TX 75001; 972-361-5023.

Simon Property Group Inc. acquired a 50% stake in Fashion Valley Mall in San Diego CA from Lend Lease Real Estate Investments. The 1.7 million sq.ft. mall is anchored by Neiman Marcus Nordstrom Saks Fifth Avenue Macy’s Robinsons-May and JCPenney. Simon Property Group Inc. also assumed management of the center.