The big Pointe at Post Falls commercial development, which is anchored by a Cabela's Inc. sporting goods store and a Wal-Mart Stores Inc. supercenter, has changed hands.

Wadsworth Development Group, of Draper, Utah, has acquired the vacant parcels of land in the development from Carlsbad, Calif., real estate developer Foursquare Properties Inc., says Shelley Enderud, Post Falls city administrator.

The transaction closed in late May when the city acknowledged to the buyer that Foursquare Properties had met all of its obligations related to development infrastructure, Enderud says.

Foursquare originally had agreed to pay for $450,000 worth of city street work connecting to the development, but the city of Post Falls ended up doing some of that work at a cost of $55,000, she says.

"Foursquare paid that liability as part of closing" the real estate transaction with Wadsworth, Enderud says.

A city-approved development agreement that envisions the Pointe at Post Falls as a major commercial center remains in effect, she says.

The terms of the transaction weren't disclosed, and executives at Wadsworth Development Group and Foursquare Properties couldn't be reached for comment.

Kootenai County Assessor Mike McDowell says 25 vacant parcels totaling 161 acres of land that were held by The Pointe LLC, a Foursquare subsidiary, have a total 2013 taxable value of $10.4 million. The assessor's office hadn't recorded the ownership change as of last week.

Sydney, Neb.-based Cabela's opened a 130,000-square-foot megastore at the Pointe at Post Falls in late 2007. Since the recession hit, only Benton, Ark.-based Wal-Mart has put in a retail store there with its 150,000-square-foot supercenter, which opened in 2010.

The 38-acre Cabela's and the 17-acre Wal-Mart parcels are owned by their respective real estate holding companies. The Cabela's property has a taxable value of $11.7 million, including the building. The Wal-Mart parcel and structure are valued at a total of $9.5 million, assessor's records show.

Wadsworth Development Group is an affiliate of Ralph L. Wadsworth Construction Co., also of Draper, which is the contractor on the $21 million Interstate 90 interchange at Beck Road. The interchange, which is nearly finished and partially open to traffic, provides direct freeway access to the development on the north side of I-90. It also provides a connection to the Riverbend Commerce Park, which is on the south side of I-90.

Enderud says the interchange construction will be completed in July, and landscaping will be done in August.

Foursquare Properties had said it expected the interchange project to help firm up commitments from others that want to be in the Pointe at Post Falls.