The Deerfield, IL-based Walgreen signed a long-term lease for part of a 101,039-sf office building along Beltway 8 between Clay and Tanner roads, John Pruitt with the local office of CB Richard Ellis Inc. tells GlobeSt.com. Pruitt and CBRE's Dena Wren represented the building owner, the Sacramento-based Panattoni Development Co. in the transaction. Brandi Gawlikowski and Rich Pancioli, both in Dallas-based Trammell Crow Co.'s local office, negotiated the tenant's terms.

Pruitt says the Beltway 8 building won the deal because it's centrally located to Walgreen store managers, a leading criteria in selecting the training site. The building, which carries a quoted rate of $21.50 per sf, was completed earlier this month.

Hanover Compression Co. moved into the second floor, leaving Panattoni with just 34,000 sf remaining for lease-up, CBRE's team says. Designed by Wilson Architects, the building is the first phase to a 120-acre office park. At build-out, the development could contain 1.3 million sf.