Investment group closes $53 million in shopping center sales

Grubb & Ellis Co., a Newport Beach retail investment group, recently

closed three shopping center sales worth $53 million.

In the first transaction, Newmark Merrill and Rubin Pachulski

purchased the 455,500-square-foot James Marketplace in Thousand Oaks for

more than $20 million from Merged Centers, L.P. of Los Angeles.

San Diego-based Pan Pacific Retail Properties bought the

181,000-square-foot Brookhurst Center in Anaheim for $20.4 million, and

in the third transaction, a private family trust purchased the

181,000-square-foot Home Expo Center in Huntington Beach for $13 million

from M&H; Realty Partners of San Diego.

Grubb & Ellis Company is one of the nation’s largest commercial real

estate services firms with approximately 8,000 employees in more than 200

offices in 29 countries.