NAI/Commercial Industrial Properties is handling the lease for Garden.com's 34,871-sf spot that is being vacated at 3301 Steck Ave. in northwest Austin, a source at NAI told GlobeSt.com. "It is a converted warehouse and it is priced well below market rates," says Derek Silva, a NAI/Commercial broker.

In the virtual acquisition, Walmart.com, the e-commerce site for the large retailer is buying all of Garden.com's major content assets, including editorial, interactive and film content. Burpee Holding Co., the parent company of W. Atlee Burpee & Co., has purchased Garden.com's brand assets, which includes the company's url and assets related to customer information. Garden.com is to receive slightly more than $4.4 million for these two asset groups.

Garden.com will continue to review bids for other assets such as hardware and equipment, its supply-chain technology TRELLIS, and Green Cheetah, its 80%-owned subsidiary for developing database software. The company estimates it will distribute somewhere between 10 cents per share and .025 cents per share from the sale to its stockholders. The company had reported a balance of $12.3 million for cash and cash equivalents and investments in September 2000. Severance payments, contractual payments and termination costs for certain programs bring the company's cash position to $2.8 million with an estimated $2.7 million in liabilities.