GLENDALE, AZ-The buyer is a family trust from Santee, CA and the seller, Presson Cos. of Phoenix. The 86,844-sf Grand Avenue Business Park II is a pair of multi-tenant office/warehouse buildings that are about 93% leased.

GILBERT, AZ-A Colorado Springs, CO syndicate of 1031 buyers makes the close, spending $10.6 million for the 62,579-sf suburban center. The 95%-leased center delivered in 2000 by its merchant-build seller.

HOUSTON-Kimberley Partners leverages the financing with the Paragon Engineering complex at 10777 Clay Rd. in the Energy Corridor. Just recently, Paragon signed a 10-year lease for a second building.

HOUSTON-Before summer ends, there will be three new tenants settling into offices in an office tower that lost 15% of its tenant roll as a result of "dot-com bombs." Gallagher Healthcare takes the largest office, 51,720 sf.

PHOENIX-Buyers Donald L. Meyers and Eli Castranova will put $600,000 to $800,000 into upgrades, inside and out, at the Cascades, situated at 36th Street and Campbell Avenue. The plan is to nudge the class B property into a class A.

HOUSTON-The big box fallout finally surfaces in the market, with second-quarter numbers down significantly. O'Connor & Associates says it's not all that bad. Besides, the call is the third quarter will bring change.

BEAUMONT, TX-Shoe Carnival is making plans for an October opening in 12,000 sf at Dowlen Town Center in Beaumont. In Houston, a trio of doctors takes 5,040 for a physical therapy and rehab center.

HOUSTON-Transwestern Commercial Services can relax now that its lead tenant, 3D/International Inc. has renewed a 32,398-sf lease. The design-build firm has been a tenant for a decade, but did look around before making the decision to stay.