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GLENDALE, AZ-The Cimarron Village Apartments goes from a Utah private investor to one from Chicago. The 120-unit complex is positioned in a submarket with a 93% occupancy and a $620 average monthly rent.
HOUSTON-Del Kendall returns to the organization's fold as principal and director in Houston. In the 1990s, he was RERC's COO. His return, says RERC's CEO, will definitely bolster the firm's presence in the South.
GILBERT, AZ-Buyer David Day rolls in the three-building Gilbert Cove to his budding metro Phoenix portfolio. The California seller, Olson-Arizona, says it was simply time to dispose of the 96%-occupied, 26,654-sf Arizona holding.
HOUSTON-New tenants are heading into Pinemont Center and Beltway 8 business parks while the Clinton Industrial Park snags an expansion. Pollock Summit Electric signs for the largest chunk of industrial space, 23,625 sf.
SUGAR LAND, TX-Turner Construction's project leader says 280 to 300 workers will be on the job at peak to meet a fast-track delivery schedule for the 300-room hotel and conference center and 127,000-sf parking garage.
HOUSTON-All's well that ends well. Parkway Properties gets a creditworthy tenant for the entire former Raytheon building. Honeywell, in turn, gets 142,464 sf that meets all criteria for a consolidation of multiple offices.
PHOENIX-First Industrial had yet to bring a 132,261-sf project to market when Top 10 Properties put an offer on the table. Thus, says one broker, the selling price practically mirrored the asking price for First Commons at 10 West Phase I.
SALT LAKE CITY-There's enough concern to question whether Salt Lake City might be headed for an overbuilt state, says RealFacts. The current 93.4% occupancy comes with 1,908 units coming off the drawing boards after delivering 1,000 units in 2001.
HOUSTON-A call center stays put with a long-term signing between Citicorp and Koll Bren Schreiber for nearly all of the Parkview I office building at 330 Cypress Run. Citicorp has leased the space since 1994.
HOUSTON-One buyer gets a 19,900-sf manufacturing building sitting on 5.4 acres in the southwest sector while the other buyer closes on a 19,299-sf warehouse in the south. In Houston, small-size building sales have been popular for some time now.