HOUSTON-The San Jose, CA investor beats out four other prospective buyers with a full-price offer of $4.9 million for the 17,000-sf Cypress Mill Plaza Phase II. The fully occupied, unanchored retail center has no lease rollover until 2009.

PHOENIX-GE Parallel Design signs a seven-year lease to more than double its presence in the Valley, becoming the lead tenant in a 108,000-sf industrial building in the Allred Cotton Center. Six months of negotiations end with an $8-million payout over the term.

HOUSTON-Pelican Builders Inc. gets ready to break ground on Briarglen, an eight-story mid-rise building in the Mid Lane area inside Loop 610. The building is the first of three planned for the first phase of a redevelopment plan.

HOUSTON-Pelican Builders Inc. gets ready to break ground on Briarglen, an eight-story mid-rise building in the Mid Lane area inside Loop 610. The building is the first of three planned for the first phase of a redevelopment plan.

THE WOODLANDS, TX-The Houston-based developer jumps in front of the curve to claim 3.3 acres near the emerging neighborhood of East Shore. Wulfe & Co. plans to break ground on a 30,000-sf retail center in second quarter 2006.

SCOTTSDALE, AZ-Desert Fairways, a newly constructed, 9,700-sf retail center, sells at a slight discount due to its leasing risk. A 1031 exchange buyer from Eureka, CA picks off the pass for $3.4 million.

PHOENIX-After outgrowing its current headquarters, Aimco Precision decides to purchase a 42,129-sf, class A flex building in the Metrocenter submarket for $2.4 million. The firm, getting a tenant with the deal, will fill the 23,000-sf balance with its HQ team.

HOUSTON- The restaurant chain sees earnings jump to $12.3 million during the fourth quarter 2004, an eightfold increase over 2003.