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KBS REIT III sells Calif. office park for $43M; NJ retail asset trades for $42M

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KBS REIT III sells Calif. office park for $43M; NJ retail asset trades for $42M

This feature rounds up recent commercial property news and highlights larger deal coverage already published.

* KBS Real Estate Investment Trust III Inc. sold the two-building, class A Rocklin Corporate Center office park, totaling 220,080 square feet on almost 14 acres in Rocklin, Calif., for about $42.9 million.

* AEW Capital Management LP sold the 99,070-square-foot, fully leased Wall Towne Center retail asset, sitting on 11.81 acres at 2433-2445 Route 34 in Wall Township, N.J., for $41.5 million to DWS Group GmbH & Co. KGaA.

* Caspi Development and Mactaggart Family & Partners acquired the six-story, 23,064-square-foot commercial building at 134-136 Broadway and Bedford Avenue in New York for about $18.9 million, The New York Times reported.

* Sterling Organization paid $10.5 million to Kimco Realty Corp. for a 73,910-square-foot shopping center at the intersection of Five Forks Trickum Road and Oak Road in Lilburn, Ga.

* LaSalle Investment Management Inc. acquired the 222,000-square-foot class-A T3 mixed-use office project, anchored by Amazon.com Inc., in the North Loop submarket of Minneapolis, for its U.S. core open-end real estate fund for an undisclosed price.

* Duke Realty Corp. will develop a 635,000-square-foot distribution facility at 1001 Lakeside Parkway in Flower Mound, Texas, with completion expected in May 2019, the Dallas Business Journal reported. Over 70% of the space has been pre-leased to PPG Industries Inc., the report added.

* Bucci Developments Ltd. agreed to lease the 15,218-square-foot third floor of its planned three-story, 41,574-square-foot 150 Providence office building, to be built on a 1.4-acre site in Myers Park in Charlotte, N.C., to American Security Mortgage, the Charlotte Business Journal reported.

Additional coverage

Brookfield Property pays $148M to purchase stakes in 2 NYC development sites

InvenTrust acquires retail asset near Atlanta for $64M

Hubilu Venture buys Los Angeles student housing asset

CyrusOne to develop 68-acre data campus in Arizona

Milstein, Grand Central Tech plan NYC property revamp to attract startups