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HOUSTON-Argus Realty, led by Maxwell Drever, spends between $13.5 million and $14.5 million for a two-building project that ground to a halt a year ago. To close the deal, Argus cleared liens, got new permits and secured a $4.38-million construction loan.
HOUSTON-A&A Remodeling will move into 10,818 sf at Beltway Service Center in Houston's southwest submarket while Bishop's Original Products, a distributor of oil products, renews 6,440 sf on the city's East Side.
HOUSTON-A group of California investors, knocking on Gables' door, acquires the 404-unit Gables Champions at 5959 FM 1960 West. Gables gets to record a $7.5-million gain for the sale, says Gables' CEO.
FORT BEND COUNTY, TX-Equity One and two co-defendants bargain down a $15.9-million jury award before the presiding judge can OK the verdict. The shopping center owner also foregoes future claims over the tenant's relocation.
BELLAIRE, TX-The 10,908-sf store on nearly 1.2 acres in the Houston suburb goes to a Chicago buyer who is turning around proceeds from a multifamily sale in his hometown. There are 18 years left on the triple net lease for the three-year-old development.
HOUSTON-The Los Angeles seller parts with the 19-year-old center at 8 Uvalde Rd. after owning it for six years. The local LLC buyer gets a Grandy's-anchored center on less than an acre with a 2002 assessment of $361,140.
HOUSTON-Crescent and GE Pension Trust acquire the lone Houston office building in the Met Life offering. Crescent gets 30% ownership plus a fee to lease and manage the 82%-occupied, 567,000-sf high-rise in the Galleria submarket.
HOUSTON-Frontera Petroleum Resources will move less than six miles. Its new address is a 2,120-sf office at the 77%-occupied Regency Square Tower, a 219,100-sf office building at 6200 Savoy.
HOUSTON-Dealers' row will be getting SAAB and Mitsubishi dealerships by summer. Houston dealer Bob Heckeroth will bring in the construction crew in two weeks to start work on a 25,000-sf office/showroom.
HOUSTON-Bach Realty Advisors takes 1,665 sf in a Koll Bren Schreiber building in the FM 1960 submarket. The firm uproots the headquarters from the CBD's office inventory of 32 million sf for an area with just 4.2 million sf.