HOUSTON-GE Business Asset Funding of Bellevue, WA acquires Mustang Engineering's 219,166-sf, two-building complex in the Park Ten area, getting a 12-year tenant with the capital outlay.
HOUSTON-American Liberty Hospitality re-ups a 4,852-sf office at 10700 Richmond Ave. in the Westchase submarket. The building's five-year tenant shopped and then stopped to sign a medium-term pact.
HOUSTON-The region's positive absorption and more goods rolling into warehouses for distribution are solid signs that the blackest days are over. The far northwest submarket accounted for 764,000 sf of the good news, according to Grubb & Ellis' Q3 numbers.
HOUSTON-The Holt Cos.' local office starts its first speculative project in town, a 128,000-sf office/warehouse on 10.5 acres at 9330 W. Airport Blvd. in the far southwest submarket. The plan, for now, is build and sell once it's stabilized.
HOUSTON-The drug store chain takes 11,683 sf at Beltway 8 Corporate Centre for an operations and training facility for area store managers, signing a long-term lease for a newly delivered building on the city's west side.
HOUSTON-McLeod USA holds onto its five-year address at 9801 Westheimer Rd. in a new commitment for 5,176 sf. On the north side of town, a newly formed oil and gas company lines up 1,179 sf for a first location.
THE WOODLANDS, TX-PM Realty Group and Binswanger/Conine & Robinson take over management and leasing duties, respectively, for a 45-building portfolio as the Woodlands cuts the 50-employee division.
HOUSTON-Yancey-Hausman and Goddard Investment Group buy a 96%-leased office building, 60% of which is occupied by the seller's subsidiaries. The 657 Bering Dr. deed is the partnership's fourth in town, but a fifth could turn by year's end.
HOUSTON-In a 70-30 split, JPMorgan Fleming and Crescent Real Estate Equities acquire One BriarLake Plaza from New York-based Tishman Speyer Properties. The Westchase property was 89% occupied at closing with no near-term rollover on the leases.
HOUSTON-The REIT and Devon Energy end nines months of talks for 66,450-sf build-to-suit on 4.2 acres in the World Houston International Business Center. The $3.4-million project, tied to a 15-year lease, will deliver in second quarter 2004.