HOUSTON-In August, Schwartz, Junell, Greenberg & Oathout will move up seven floors and add 9,627 sf with a new 10-year pact for 22,627 sf. This month, the Ashby Whitmire team opens doors on a 3,340-sf office, signing a five-year lease for the trophy space.
PHOENIX-MultiSystems Inc. works out a six-year lease for class B-plus office space in Plaza at Squaw Peak III. The corporate headquarters will move in March from a 15-year address along East Northern Avenue.
PHOENIX-CH Robinson Worldwide Inc. makes the commitment for Desert Ridge Corporate Center I, a 136,291-sf office building that broke ground last month. The five-year deal is worth $1.2 million for developer, the Ryan Cos.
WEBSTER, TX-Bigelow Aerospace takes over an industrial building built in the mid-1980s as part of Northrop Grumman's campus. The building, bought out of foreclosure for close to $1.7 million, will be used to advance inflatable space station technology.
PEORIA, AZ-Riverwalk at Desert Harbor, a 264-unit complex placed into bankruptcy to avoid foreclosure, sells to Alliance Residential Co. for $19.3 million. The four-year-old, 20-building development trades for nearly $20,000 below replacement cost.
HOUSTON-A limited partnership from San Antonio assumes a $5.4-million loan and rolls in 1031 exchange funds to acquire the 92%-leased Village Green Plaza. The eight-year-old center sells for close to the $8.2-million asking price.
PHOENIX-After falling out of escrow once before, a 158,580-sf industrial building in the southeast Valley passes to Harrison Development for $3.9 million. The firm plans to renovate the vacant building and lease it up.
PHOENIX-Usalco Ltd. signs a four-year lease valued at $300,000 for a freestanding building in Coronado Business Park. The firm, planning a March move, will put its headquarters team and manufacturing operation into the 17-year-old building.
HOUSTON-Edgewood Development LP secures enough capital to pay off an existing loan on 7670 Woodway, a three-story, 70,000-sf office building. The loan also allows $500,000 for capital improvements to the 25-year-old building.