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CHANDLER, AZ-The 46-unit Aspen Springs Apartments in Chandler is the next property in line for a condo conversion. Two specialists in the field have just bought the complex from a Denver-based investment group.
GLENDALE, AZ-Systems 2000 has shifted an expansion plan into high gear with the closing of the 12,500-sf North Canyon Ranch Industrial Park. It's the second time that the building has changed hands in recent months.
SUGAR LAND, TX-Constructions crews are revving up to start site work at a high-traffic intersection at US Highway 6 and First Colony Boulevard. The .53-acre tract will house a 5,000-sf Genesis Spa & Salon.
THE WOODLANDS, TX-An orthodontist relocates from Woodstead Court in the Woodlands to Panther Creek Professional Plaza II, a 30,000-sf medical office building. The specialist signs for 2,200 sf in the Panther Creek neighborhood.
CHANDLER, AZ-Neighbor Western States Flooring acquires a 32,359-sf building right across the street in a move to expand and call itself an owner. Seller Franklin Covey is consolidating some operations to its homeport and taking a smaller office in Chandler.
PHOENIX-McElvoy Metal, pulling out of the Phoenix market, delivers 12,415 sf of industrial space to a manufacturer looking to expand. The Louisiana-based metal firm has vacated the Coronado Commerceplex.
HOUSTON-The 17-year-old energy manager stays put in 10,902 sf at the Highlands Insurance Building along Richmond Avenue. Insignia/ESG and Strategis broker the deal for the 310,296-sf suburban office building.
ALBUQUERQUE-A 103,951-sf big box retail site will be converted into a call center and back office for Blue Cross/Blue Shield in a consolidation bid of offices in several states. The plan is to sink $5.8 million into the site.
HOUSTON-Preferred Medical Billing is taking 12,265 sf at the four-story 8300 FM 1960 office building, a 68,210-sf structure that's 85% leased. The new headquarters tenant is an electronic claims submission operation based in Houston.
HOUSTON-Increasing interest rates, stringent underwriting and spiking insurance could undermine the city's multifamily property values, says a Hendricks & Partners investment adviser in Houston. The scenario also is being fueled by international uncertainty.