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HOUSTON-Dr. Barton Smith, the region's favorite forecaster, says exercise caution in interpreting reports about how bad 2001 was and how good 2002 could end up. His analysis says it will be 2003 before it gets much brighter.
HOUSTON-Netflix, an Internet-based DVD rental business based in California, makes tracks for Houston. The key to the 4,900-sf CBD warehouse lease was finding a location near a post office for the firm's next-day delivery service.
HOUSTON-Granite Properties beefs up its Southwest Houston holdings, grabbing the deed to Willowbend Distribution Center at 11502 S. Main St. Prior to the buy, Granite owned about 1.6 million sf in 11 properties in Houston.
FLAGSTAFF, AZ-The same buyer steps forward for a second phase at Timberline Village in Flagstaff. With the city's multifamily market so tight, it's a guaranteed moneymaker for the Bellevue, WA-based buyer.
HOUSTON-A.D. Vision will use its new space for office and a studio for its digital and audio productions. Vantage Houston Inc. is the developer of the business park, which calls for 260,000 sf at full build-out.
TEMPE, AZ-CCT Investments of Scottsdale buys the former Arizona Tile building at 7428 E. Harl Dr. in Tempe. The building went to market vacant and then the owner opted to lease. An insulation contractor occupies about 43% of the site.
HOUSTON-Wholesaler Tartone Enterprises has signed for about half of the Clay Road Distribution Center in Houston's western tier. Built in 1999, the single-story warehouse is 83% occupied with the new deal.
HOUSTON-Word is out that TrizecHahn has found a taker for 240,000 sf of Enron's just returned 790,000 sf in the downtown. The fallen energy giant leases about 6% of the 34 million CBD. More space is sure to open up as the bankruptcy plays out.
GOODYEAR, AZ-A SunCor-affiliated project in Goodyear marks the construction start of a 72,000-sf hotel, ticketed to deliver in late summer. Hotel developer Jonathan Byrd and the city have teamed to push the project.
HOUSTON-Insignia/ESG's loss is PM Realty's gain as it takes over leasing and management pacts at 10370 Richmond Ave. and 13401 North Freeway. A 56% occupancy at one structure means the search is on for tenants.