"Ace's rate was way above market in terms of the deal," saysShawn Ackerman of Henry S. Miller Commercial's Houston office, whorepresented the building owner, Bissonnet Realty Partners Ltd. ofSugar Land, in the transaction for the 9819 Bissonnet St. center.ACE was self-represented through Kyle Moser.

The reason for the higher than average lease rates is becauseACE, a former tenant in the center, had vacated its space for atime and required remodeling because of the company's restructuringand a refurbishment of the brand's image. ACE, headquartered inIrving, TX, is the largest owner, operator and franchiser ofcheck-cashing stores in the US.

"They basically re-branded their store and their image,"Ackerman tells GlobeSt.com. "The new brand recognition has requireda lot of remodeling dollars." Built in 1983, the 104,000-sfBissonnet center is 92% occupied with tenants like Family Dollarand Iglesia De Dios Ministerial De Jesucristo InternationalLtd.

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