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DALLAS-Back-to-back deals for a sale, sublease and new lease put all Dallas operations for Houston-based Victory Packaging into the Redbird area. In Carrollton, a Dallas newcomer gets comfortable in a Victory-vacated building.
CITY OF INDUSTRY, CA-Standard Furniture has expanded its warehouse space here by an additional 79,180 sf by signing a three-and-a-half year sublease for a transaction value of $1.75 million.
VALHALLA, NY-Reckson Associates Realty Corp., reports that Philips Electronics North America Corp. has signed a lease for 20,866 sf at its 100 Summit Lake Dr. property here.
DALLAS-Bracewell & Patterson adds 9,478 sf to its office at Lincoln Plaza, taking the international firm to 34,776 sf. Provost Umphrey takes 6,043 sf at One McKinney Place as it revs up for a June 1 opening with former federal Judge Joe Kendall at the helm.
MEDFORD, OR-The one-story tilt-up on Commerce Drive will serve as Regence BlueCross BlueShield's Southern Oregon Regional Headquarters. Regence is expanding from a 27,000-sf building it owns in Downtown Medford that is now being marketed for sale.
NEW YORK CITY-One of the largest properties in the King of Prussia, PA market is bought by sitting tenant PFPC, a subsidiary of PNC bank. The seller is O'Neil properties, also located in King of Prussia. PFPC occupies all but 30,000 sf of the building, the remainder of which is leased to ITT Technical Institute.
ATLANTA-McNeel Builders of Marietta, GA constructed the warehouse in Northpoint Business Park, Acworth, GA, for an estimated $40 per sf or $2.2 million, roughly the aggregate rent the Shakopee, MN-based tenant will be paying over 10 years.
RENTON, WA-The buyers, looking for something to spend 1031 Exchange money on, spends an "astronomical" $167,000 per unit for the 182-unit Alexan Lake Washington, setting a new price-per-sf benchmark for the City of Renton.
HOUSTON-Tenants Devon Energy and Thompson & Knight shuffle their space requirements at the 3.2-million-sf Allen Center in Houston's CBD. Devon adds 43,960 sf while the law firm changes buildings to get 72,000 sf.
PHOENIX-Wells Fargo had a few decisions to make about the Kitchell Metro Center along Black Canyon Freeway. In the end, the banker buys a 138,000-sf office building and adjacent lot plus steps up an expansion plan.