Goddard Investment sold a 25-year-old building at 675 Bering Dr.to Griffin Partners after having upgraded the lobby, bathrooms,elevators and landscaping. Area sources suggest the eight-storybuilding and adjacent parking garage could have traded for $195 persf to $215 per sf based on comparable area sales figures.

Bill Deyo, principal with Goddard Investment Group, says thebuilding was acquired in late 2003 as the lead tenant, AIG AmericanGeneral Life Cos., announced its intention to leave the buildingfor consolidation reasons. "The basic objective when we bought itwas to make improvements to the building and backfill the space AIGleft and then to exit when the opportunity came up," Goddard tellsGlobeSt.com. The building is 70% leased to First Investors, Foster& Associates and Cafe Express.

Goddard Investment also is beginning its exit strategy for 801Travis St., which it acquired a little less than a year ago fromCoast Range Investments LLC of Albuquerque. "The marketing processhas just begun on that and we're early on in the program," Deyosays. During that hold, the 21-story building had upgrades to itsentrance, lobby and elevator cabs.