VISTA, CA-A local retail property has been acquired as an exchange upleg in a deal valued at $4.5 million.

WenMar LLC has purchased the asset from Leland and Audrey Sjule. Encompassing 52,000 sf, the freestanding building is occupied by Big Lots and Big 5 Sporting Goods, which both signed leases for retail space here in November 2002. PNS Stores Inc. dba Big Lots inked a 10-year, $2.3-million renewal that expanded its space from 17,000 sf to 37,000 sf, while Big 5 Sporting Goods took 15,000 sf in a 10-year, $1.2-million deal. The Big Lots and Big 5 Sporting Goods facility is located in the Stater Brothers-anchored Shadowridge Plaza neighborhood shopping center, which stands at 760 Sycamore Ave.

In the recent transaction, the sellers were represented by Vic Gausepohl and Kirk Allison of Colliers International. Jon Busse, who is also with Colliers International, acted on behalf of WenMar LLC.

The new owner acquired the local retail property, along with a $12.3-million, 166-unit multifamily asset in Phoenix as an exchange upleg for the April 2003 sale of the Posada del Valle apartments in El Cajon. The 120-unit, El Cajon complex sold for $12.3 million.

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