HOUSTON-Shaw Industries Inc. renews one year early, signing a five-year deal for 16,905 sf. The floor covering distributor, which has been a tenant at 7425 Pinemont Dr. since 2001, plans to convert a portion of its industrial space to office use.
PHOENIX-This time, the investment group gets a 109,332-sf building in the Metrocenter, a class A asset delivering $15.1 million for its seller, ING Clarion Partners. The top three tenants, averaging four years left on their leases, occupy 87% of the building.
HOUSTON-After a five-year hold, Insite Realty repackages the ownership for an 18-building package in North Houston. The deal creates a new partnership with Dallas-based Westmount Realty, drawing a one-time owner back to town after a 10-year hiatus.
CHANDLER, AZ-Avsets leases a second location in the Chandler Technology Center, tapping an empty warehouse to get storage space and free up some room in its headquarters. The four-year lease has a payout of about $700,000.
TEMPE, AZ-A label manufacturer and a kitchen cabinet company ink leases valued at $675,865 for the Hewson Co. Interwest Label commits to a 62-month stay while US Remodelers Inc. marks a spot for 64 months in Warner Road Business Park.
HOUSTON-Patriot Bank signs a 10.5-year lease for class A office space and its first retail location, anchoring the hold with lead tenant status in a 220,000-sf Galleria building. The bank will open doors March 1.
HOUSTON-With 50 retail properties in the region, New Plan Excel Realty Trust pulls out three and puts them on the market for a combined $16.9 million. The assets, totaling 219,929 sf, have occupancies ranging from 77.6% to 94.2%.
PARADISE VALLEY, AZ-International Capital Partners harvest $6.8 million from a two-year hold of the 198,452-sf Paradise Valley Corporate Center after two brokers bring in a buyer needing to place some capital and wanting another piece of the Valley.
PHOENIX-Local syndicate Right Place Properties beats out 11 other buyers to pocket the keys to Los Olivos Apartments for $3.7 million. The firm plans to convert the 64-unit class B apartment community into residential condominiums.
TEMPE, AZ-Phoenix Logistics is planning an April move into an 18,383-sf freestanding industrial building. The company inks a 63-month lease with a payout of $714,793 for the building.