DALLAS-First Industrial Realty Trust acquires six properties for $20.8 million and sells two others for $16.3 million, giving the real estate investment firm a stronger foothold in the Texas market.
DALLAS-One Galleria Tower, The Princeton and Turtle Creek Centre each are benefiting from new and renewed leases in the 20,000-sf range. The tenants are ABT Executive Suites, Hibernia National Bank and Computer Sciences Corp.
PHOENIX-A broker with more than $100 Million in transactions and 13 years in the commercial brokerage industry has become the newest senior associate for Scottsdale-based Sperry Van Ness Mullen.
SCOTTSDALE-The converted mall at 4343 N. Scottsdale Rd. won out over other sites because of its prime address and its leasing rates, which average in the mid-$20 per sf range.
FORT WORTH, TX-OmniAmerican Credit Union purchased the 200,000-sf University Centre II office building and will move its headquarters into the building, which was 85% leased. The 100,000-sf University Centre I building, 96% leased, was purchased by an unnamed private investment group.
FORT WORTH, TX-Crescent Real Estate Equities Company Chairman Richard E. Rainwater has swapped his shares of common stock for units in the company's operating partnership in a two-for-one trade-off.
PHOENIX-In the end, Snell Family Investments won out with a promise to close within 10 days. "We picked between the two buyers based on who could move the fastest," says the broker in the deal.
PHOENIX-Todd Braun, formerly a first vice president with the firm, was promoted to senior vice president after being one of CB's top producers nationally in 2001. He specializes in multifamily investment.
DALLAS-Local shopping center owner Jim Ryffel and a group of investors have picked up the Alta Mesa Village Shopping Center, and in a separate transaction, acquire three acres of land.
GILBERT, AZ-The 25,000-sf shopping plaza appeals to the buyer because its location on the fringes of rapid development would make it a prime parcel within the next year, according to one of the brokers in the deal.