FIRST HUNTINGTON CENTER LP has purchased The Plaza at Huntington Beach, a 301,947 sq. ft. mixed-use center in Irvine, Calif., for $36.2 million. The buyer acquired the 8.5 acre property as part of a 1031 Exchange. The Plaza spans an entire city block between Warner Avenue and Beach Boulevard, and includes a 200,000 sq. ft. Class-A office tower and retail space. Tenants include Edwards Theatre Charter Center 5, Tony Roma's, Chili's and Bally's Fitness.
THE WOODMONT CO. has purchased 51 acres of land in Bismarck, N.D., to develop a 520,000 sq. ft. shopping center. Ground will be broken this summer on Pinehurst Square, with the first phase opening in late summer 2005. Two major tenants already have signed on for space in the center: Lowe's will occupy a 156,000 sq. ft. store, while Kohl's department store will take 96,000 sq. ft.
AN INVESTMENT GROUP LED BY ENTERTAINMENT MOGUL DAVID GEFFEN has sold 331 North Maple Drive in Beverly Hills to Lincoln Properties and Praedium Group for $33 million. Madison Partners arranged the sale on behalf of the investment group, 331 North Maple LLC. The 80,000 sq. ft. building is the former location of Dreamworks SKG