AUSTIN—CenterSquare Investment Management and Falcon Southwest have sold the Palazzo, a 300-unit apartment community in San Marcos, Texas.

DALLAS—In an UPDATE to a previous story, Cassidy Turley has arranged the joint venture for Caddo Holdings with AFO Capital in order to acquire Preston Plaza in north Dallas.

HOUSTON—Zimmermann & Jansen Inc. has broken ground on their 120,000-square-foot industrial headquarters in northeast Houston with plans to relocate local operations upon completion this summer.

NEWARK, NJ-The Government Services Administration has taken a ten-year lease on an office at 2 Gateway Center here, GlobeSt.com has exclusively learned.

DALLAS—Washington, DC-based Greysteel Company announced the launch of Greysteel Texas LLC, a wholly owned subsidiary of the company to be based in Dallas.

PHOENIX—An electrical product distributor leased a 90,152-square-foot office/warehouse lease at 4707 E. Baseline Rd. The tenant, who wishes to go unnamed, will operate a regional office and central distribution center from this location. The tenant is able to meet its objective two years earlier than initially planned and realize cost savings in a much shorter time frame than anticipated, says a source involved in the deal.

JERSEY CITY-Gebroe-Hammer's Hudson County specialist Nicholas Nicolau says the multi-family investment market is so hot right now that he even handled a "drive-by" sale recently.

PHOENIX—CBRE announces the sale of Kierland Fairways Office Plaza located at 14614 N. Kierland Blvd. in North Scottsdale. The 55,268-square-foot office building was sold for $8.2 million. A sizable renovation is planned for the property.