As it came down the wire, Lee Noble, a senior vice president with CB Richard Ellis Inc., was able to help Vesta close on a $7-million industrial buy in just three days. "I was doing a lease for Habitat for Humanity in a First Industrial building and just happened to ask First Industrial if they had any building for sale," Noble recalls. The REIT was getting ready to put Rose Garden Center, a two-building, 72,500-sf showroom industrial complex on the market.

The 21-year-old complex, located at the Northwest corner of 19th Avenue and Rose Garden Road, is right across the street from Honeywell's main plant. The REIT acquired Rose Garden Center in October 2003 and did a complete rehab of the property, Noble says.

Noble tells GlobeSt.com that one building in 100% leased while the other one is 70% leased. "These are all new tenants with five-year leases," he says. The complex is home to six tenants including Sonoran Doors and Zia Record Exchange. "The compelling feature of this complex was that it had been completely redone and re-tenanted," Noble explains.