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TOLLESON, AZ-IBC Group of Arizona, better known as International Bedding, readies for a move into 92,000 sf at an E&V Investments-owned industrial structure. Brokers from Grubb & Ellis and Southwest Commercial craft the deal.
TUCSON-A 102,525-sf Montgomery Ward's location and a three-tenant pad site piece together 13 1/2 acres needed to build a 135,000-sf Lowe's and 42,000-sf garden center. Ground breaks in May; delivery is first quarter 2003.
STAFFORD, TX-The leader of the pack is MPAQ Electronics, which has signed for 14,200 sf at Midway Cos.' Commerce Park Southwest. The balance of the deals for the Stafford industrial park ranges from 9,050 sf to a 2,405-sf expansion.
HOUSTON-The city's office market hits its lowest point in nine years, with 12 of 19 submarkets posting negative absorption. Rents are falling and sublease space is rising. Enron accounts for 675,000 sf of 881,872 sf of empty CBD space.
GLENDALE, AZ-Glendale gets a boiler systems consulting firm for Paragon Industrial Center while Tempe gets TopGlock.com for a small office at Harbor View Business Park. Lee & Associates Arizona control the bargaining table.
HOUSTON-One deal closes off 114,400 sf and two shut down 38,400 sf in a triple play that takes the Midway Cos.' 550,000-sf Central Greens park to full. The largest space taker is Elite Air Freight of Houston.
HOUSTON-JSRW sells one product before it's finished and is making plans to break ground on two more tracts in the Interbelt Business Center. Martin Apparatus & Equipment buys a 20,000-sf warehouse, with plans to finish it on its own.
PHOENIX-The Bleau Family trust sells the 21-unit Dana East apartments in Phoenix for $725,000 and the 28-unit Garden View in Mesa for $1.3 million. The Phoenix property goes to a Chandler investor and the other to a Chicago buyer.
HOUSTON-The high-profile client takes its 24th retail spot in Houston, signing a deal for 3,125 sf at 2660 Gessner Rd. on the city's West Side. Grubb & Ellis and Boyd Page broker the deal at the Woodlake Collection-owned property.
HOUSTON-An 87%-occupied medical office building attracts eight bidders, with the winner being MedCap Properties of Nashville. The 53,829-sf Red Oak Professional Atrium Building was advertised at $3.5 million.