DALLAS-Drexel Development will go vertical in 30 days on the $25-million Drexel Highlander just as keys are ready to turn its first condo project. Meanwhile, plans are flying for a Q1 2005 groundbreaking and talk's afoot about going beyond the Dallas line.

EULESS, TX-The first-time Texas buyer takes over the 118-unit Wilshire Manor Apartments with $1 million of 1031 Exchange capital, extra equity and a 10-year loan. The seller's management practices seeded a 100% occupancy and high return.

GRAPEVINE, TX-The flooring materials supplier is readying to move into 15,806 sf at Heritage Business Park. In signing the five-year lease, the inbound tenant secures a rate close to the $6 per sf ask and $10 per sf finish-out allowance.

HOUSTON-Transwestern Commercial Services replaces CB Richard Ellis at 1700 W. Loop South and Northpoint Central after a face-off with four others for the leasing assignment. The CMD Realty-owned buildings are 60% occupied.

RICHARDSON, TX-After one year of planning, Carlton W. Fleming goes public with Opus Communities while heading into the final stretch to acquire a 25-year-old local company. JVs, asset buys and commercial development top off the long-range plan.

PLANO, TX-The latest sale is the Parkway Centre III, 152,600 sf of class A space that's 87.9% leased to 23 tenants. Sticking to its strategy, AmeriVest gets an office building with upside in occupancy and small-size tenants.

DALLAS-The locally based developer adds its 21st healthcare JV partner to the roster, getting an inroad to 50 new markets in the Midwest and East. As the ink's drying, the developer and Baylor break ground on their 19th project in North Texas.

DALLAS-A local buyer gets a "significant discount" from the $2.7-million ask for Southwinds Apartments, which had two buildings damaged after the contract was placed. After the rebuilding and loan assumption, the Rockville, MD seller finally exits Texas.