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CONROE, TX-The 51,000-sf Conroe Shopping Center attracts a California investor, who jumped to buy as soon as it got word that the 95%-occupied property was coming to market. For the local seller, it's one down and two to go.
TOMBALL, TX-With one eatery ringing up success, the owner of Harris County Smokehouse secures a 1.4-acre tract in a neighboring submarket. The plan is to start building in January 2003.
THE WOODLANDS, TX-The two-story bank will rise on 2 1/2 acres at College Park Shopping Center, an 89%-occupied project that has just marked its first birthday. The bank will deliver in spring 2003.
HOUSTON-Judwin Properties signs for 2,200 sf in a relocation from within the southwest submarket while an attorney secures a 1,731-sf office at 202 Travis St. The class B buildings have occupancies in the mid-80% range.
HOUSTON-The Verandah Cos. has assembled 13 acres to build a garden-style complex along Crockett Street. But first, some buildings must be razed so the site can be prepped for a mid-2003 ground-breaking.
HOUSTON-Tubes & Belts pays close to the $320,000 asking price for a 2,000-sf brick house, used as an office, and 6,000-sf warehouse. The plan is to raze the house and put in a parking lot for the main operations hub in an abutting warehouse.
HOUSTON-Waldo Business Park has just signed a lease that will fill Building Three of the four-building park. The broker on the deal says the area is "tight" and expects Building Four to be occupied soon.
HOUSTON-Aztec Party & Tent Rentals will set up shop in an 89,494-sf warehouse the firm's owners recently purchased from Winston Properties. The seller, who manufactured casual furniture in the building, has picked up stakes and consolidated its business in Florida.
HOUSTON-Dr. Barton Smith is "bullish" on the economic indicators that point toward Houston's recovery by 2004. That doesn't mean 2003 won't be bringing some marginal growth. Real estate investors, who left in the 1980s, are back to spend their cash.
LAREDO, TX-The Hamilton Hotel in Laredo takes the National Trust honor for its conversion from a 300-room facility into 165-unit complex for senior citizens. The fully occupied asset is part of the border town's historic district.