HOUSTON-Equity Office signs Transwestern to help lease Intercontinental Center, which has a 66,000-sf empty block of class A office space. The goal is to fill the building in 2004. Equity Office will continue to manage the asset.
SUGAR LAND, TX-Tramontina USA adds 52,500 sf to a 66,000-sf warehouse lease in Argus Realty's three-building development in the 1,000-acre park. The medium-term signing takes the firm's park presence to about 500,000 sf, including the US headquarters.
HOUSTON-A class B package in the Houston Galleria submarket passes to Unilev Capital as part of the seller's normal portfolio pruning. Industry sources say the final price fell between $80 per sf to $90 per sf.
HOUSTON-Abitibi-Consolidated Corp. relocates a paper recycling division to 340 North Belt Place with a long-term lease for a 10,848-sf office. Colliers International and PM Realty Advisors craft the deal.
WEBSTER, TX-United Dominion Realty Trust buys the Gables Bradford Place and Gables Bradford Pointe complexes, a 732-unit pair that's less than a mile from two of its multifamily properties. The seller walks away with a $20-million net gain.
HOUSTON-Local firm Axis Property Advisors comes out on top in a face-off with two others for a 40,000-sf office leasing assignment in the 190,000-sf expansion of Woodlands Mall. The firm also gets the nod to lease a Galleria office building.
STAFFORD, TX-Kimco Realty Corp. hires the Weitzman Group to polish off lease-up at the Fountains on the Lake. The Weitzman team gets the job with less than 10% to fill. Kimco retains management.
HOUSTON-The insurance company will exit two floors or about 40,000 sf in a building bought about a month ago by Granite Properties. Highlands Insurance will head next door into 10,480 sf while its old address will become Granite Westchase.
HOUSTON-Three renewals and three new pacts take the 3.3-million-sf complex's occupancy to 95%. Economics and East End positioning near a mix of sports facilities, entertainment, retail and residential are the deal-makers, brokers say.
DICKINSON, TX-Bought in February, the 105,218-sf shopping center lands a 10-year loan at a sub-6.5% interest rate after the Dallas owner hikes occupancy from 60% to 98% and puts $1.3 million into a renovation.