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PHOENIX-FowlerShore & Flanagan, pushing a reorganization, has sold its second multifamily holding to local investor Ed Klugman. The remaining three complexes are under contract, but the identity of the buyer or buyers isn't being divulged.
TEMPE, AZ-In Tempe, the sold item is a 26,000-sf building on the east side of town that went for $1.4 million. In Glendale, it's a 15,722-sf holding along West Augusta Avenue. Its selling price was $850,000.
MESA, AZ-Three months free rent, better location for employees and turn-key TIs bait a relocation from Camelback Road to the Mesa Financial Center. The tenant signed a 63-month contract to win the perks.
HOUSTON-Liberty Supply heads into 29,200 sf at 4599 S. Wayside Dr., a ProLogis Trust property, while Hedwin Corp. renews its 16,012-sf space in a First Industrial holding at 5781 Eastpark Dr.
HOUSTON-Presidential Billiards moves from the community of Spring to the Woodlands, taking 15,105 sf at 9391 Grogan's Mill. The lease represents an expansion for the distributor of imported wares made of hand-carved African hardwoods.
HOUSTON-The Atrium at Park Ten remains filled thanks to a 74,510-sf renewal by Det Norske Veritas of Hovik, Norway. The office serves as the firm's US headquarters and takes up more than half of the building in the Katy Freeway submarket.
PHOENIX-A San Francisco investment trio acquires the 40-unit Ernot Apartments from a Phoenix-based seller. The per unit price is $31,250, slightly under the average for class B properties. The submarket's average rent is running $681 per month.
PHOENIX-Developer Fred Unger partners with businessman Mark Doerflein on the $3.24-million acquisition of a mostly vacant CBD office building. The duo is working out details for a 56-room boutique hotel, 26 condos and retail space.
CHANDLER, AZ-Cook Financial, Odyssey Partners and a law office sign three-year leases in the first closings since the Chandler Corporate Center changed hands. The 104,000-sf office building is recovering from the loss of a 68,000-sf tenant.
PHOENIX-DeGeorge Plumbing, ousted by Phoenix's light-rail plans, has acquired a 10,004-sf building for its 47-year-old business. The businessman will be heading into the city's central corridor, picking a 22-year-old building along West Highland Avenue.