John R. Colbert Real Estate Holdings, L.L.C. has purchased a retail property located at 945 West Wilshire Boulevard consisting of 6,000 square feet from Veazey, L.L.C. for $430,000. The facility will be utilized as a commercial development. Bob Sullivan, CCIM and Darryl Meason with NAI Sullivan Group handled the transaction. Closing was held at Old Republic Title Company by Barbara Chatman.