Pat Pollan of Yancey-Hausman in Houston, the county's broker, negotiated a deal that would allow the county to buy the 13013 Northwest Freeway property for $100 at the end of the lease. The seven-story building and three-level parking garage were selected earlier this year from a roster of 13 properties generated by HCAD's request last summer for proposals for a new location.

Longtime owner Fairfield Financial Group, a local subsidiary of Chicago-based First Bank of Oak Park, won the county's nod with the 20-year lease/purchase plan, but then decided to sell rather than handle development. Fairfield struck a pass-through deal with locally based Midway Cos. because it had the asset under contract two years ago, says Jonathan Brinsden, Midway's executive vice president. The property and the county agreement changed hands April 30. Brinsden tells GlobeSt.com that the all-in cost--acquisition, renovation and buying out HCAD's three-year lease balance--totals about $28.5 million.

HCAD's plan is to relocate by Jan. 1, 2005, from a 180,000-sf office that it's occupied since 1986 at 2800 N. Loop West. The structure was vacated several years ago by Cooper Cameron.