HOUSTON-The investment group plans to break ground in 30 to 60 days on an as-yet unnamed park with 20,000-sf to 60,000-sf buildings, both spec and "for sale" product. The development costs will range from $$35 per sf to $40 per sf.

NEW HUDSON, MI-A New York City-based industrial REIT acquired a 300,000-sf building from a materials handling systems company in the Detroit area. The 16-year-old building currently has one tenant, General Motors, which leases approximately 68,000 sf.

NEW HUDSON, MI-A New York City-based industrial REIT acquired a 300,000-sf building from a materials handling systems company in the Detroit area. The 16-year-old building currently has one tenant, General Motors, which leases approximately 68,000 sf.

HOUSTON-A local group of investors buys the 32-unit Bali Hai Apartments, a 40-year-old complex on a one-acre tract near the Nordstrom wing. The deal, labeled a land play, closes for slightly less than the $2.8-million ask.

CHANDLER, AZ-Lincoln Property Co. gets 34 acres with seven buildings, totaling 240,900 sf, to set up a repositioning plan for the former office campus of MTD Southwest of Valley City, OH. Some structures will be razed; others saved.

HOUSTON-Charles Draper Laboratory is readying to move into a 7,059-sf office, pledging to stay at least five years. The dealmaking produces some free rent and full makeover of the class C-plus space.

PHOENIX-A San Diego investment group marks its second acquisition in 90 days in the Valley, spending $12.45 million for Andover Square, a six-year-old development with an occupancy pushing 95%.

PHOENIX-Alcock & Associates set up shop in a class A office subleased through June 2010, the balance of Capgemini's lease in One Renaissance Square. The family law firm gets the premier space for a $1.06-million payout.