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HOUSTON-Metropolitan Fiber Systems beefs up its lease after spending a year at the class A Marathon Oil Tower in the Galleria submarket. The firm adds about 600 sf for a total 3,193 sf of the 1.25-million sf high-rise.
PHOENIX-Arizona Title will set up shop in July in a 3,900-sf office at the class A Paradise Valley Corporate Center. The office building is a $25-million, 203,000-sf structure along Cactus Road in Phoenix.
HOUSTON-A valve distributor takes a chunk of industrial space off the hands of developer Vantage Cos. The new deal puts the newly delivered product in the northwest submarket at 33% occupancy.
ORO VALLEY, AZ-A broker on the deal says the 144-unit, fully leased Pusch Ridge Apartments is the Tucson area's premier complex. The Beverly Hills, CA buyer thought it was a good enough deal to trade a retail building for the purchase.
PHOENIX-Two tenants and long-term leases attract a California-based doctor and his wife to Phoenix, where they have just secured a 30,205-sf holding along W. Northern Avenue. An LLC of Core Jackson is the seller.
HOUSTON-Wilson Fire Equipment & Service takes 19,467 sf in Houston's northwest submarket while Runnells Lofts heads into 10,000 sf in the CBD near the stadium. The pacts are ongoing validation of the industrial space demand.
PHOENIX-A 22,806-sf Car Guys will be sharing space with a Cottman Transmission Center now that a limited liability company from Mesa is the owner. The sale evolves from Car Guys' new focus on industrial product.
HOUSTON-Now that the deals are done, R.J. Global Technologies and Design Gallery are making plans to move into the newly finished 91,450-sf Legacy Park Business Center. The incoming tenants are the first to sign, but interest is running high.
SCOTTSDALE, AZ-Ameriton Properties spends $6.3 million for a 20-acre tract in North Scottsdale. The land buy rolls in the multifamily component to the 160-acre Chauncey Ranch, an area some say could end up the metro region's epicenter.
HOUSTON-Absorption comes in at 397,985, but that's not counting the 40-store shutdown by Albertsons and an 11-store closure by Kmart. Absorption and vacancy are sure to start dipping in the second or third quarter, says O'Connor & Associates.