The Colorado Public Employees’ Retirement Association has purchased Midtown Plaza, a shopping and restaurant complex in Walnut Creek, for $16.1 million. The acquisition includes the 27,800-square-foot Midtown Plaza, located at 1410-1444 North California Boulevard, as well as adjacent properties. The complex features tenants such as PBK Premier Bath and Kitchen. The deal was facilitated by L&B Realty Advisors, a Dallas-based brokerage firm. The transaction reflects a price per square foot of $444.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $16,100,000
• Square Footage: 36,261
• Address: 1410-1444 North California Boulevard & Walnut Creek
• Market: Walnut Creek
• Buyer: The Colorado Public Employees’ Retirement Association - Amy McGarrity
• Seller: Nearon Enterprises
• Broker: L&B Realty Advisors

The Colorado Public Employees’ Retirement Association, represented by Amy McGarrity, acted as the buyer in this transaction. Selling the property was Nearon Enterprises. L&B Realty Advisors served as the broker facilitating the deal. The acquisition of Midtown Plaza bolstered the association's investment portfolio in the retail sector.