PASADENA, TX-The fully leased, 22,400-sf Fairway Centre II passes to Lehman Ventures from California's Bay area after a two-month escrow period. The shopping center, selling at an 8% cap rate, trades for just north of $6.7 million.

HOUSTON-Hill Partners is seeking a buyer for one third of its Houston holdings, a nine-property, class A package with a 72% occupancy, 117 tenants and 35 buildings in the northwestern, north and southwestern sectors.

HOUSTON-Netco Inc., with three offices in the region, takes 3,577 sf for another location. Keys will turn within two months for flex space at 10100 W. Sam Houston Parkway in the Beltway 8 Business Park.

HOUSTON-Tejas Research & Engineering renews 5,045 sf in the 363 North Belt building while gaming out whether to buy or build an office structure in the 16,000-sf range. The decision could be in hand within four months.

HOUSTON-Lincoln Property Co. takes the brass ring from a field of five chasing the Heritage Plaza assignment, which is primed with a 570,000-sf leasing "opportunity" in May 2005 when ChevronTexaco exits the upper 20 floors.

HOUSTON-Three buyers will pick up properties June 22 in Ohio, Michigan, Florida, Washington DC and New York City. A diverse group of buyers and ample capital to spend have permanently raised the industry's bar, says the director of a specialty group.

HOUSTON-A five-year tenant, Denver Southwest, renews 48,000 sf and takes over a remaining 10,000 sf at Northwest Point Business Park. The building materials distributor signs a 3.5-year lease for 7150 Business Park Dr.

HOUSTON-Despite double digit vacancy now and through year's end, market watchers are optimistic. Vacancy will dip, rent will grow and construction will come in below last year's level. A 5.7% hike is expected in investment sales.