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PHOENIX-After surveying the market, the insurance company stays put at 4041 N. Central Ave., boosting the lease by 1,000 sf for a 6,000-sf total. Over the six-year term, the tenant will ante up $610,000.
PHOENIX-Connect Air is moving into 4841 S. 36th St. in the Sky Harbor submarket after its parent paid cash for the 5,120-sf industrial building. The office-to-warehouse ratio was a perfect match, says one of the brokers working the transaction.
BRISTOL, CT-Blue Devil Realty Inc. acquires Bristol Farms Plaza, a 150,000-sf strip center that is 90% leased. Tenants include Big Lots, Marshalls, Sears Hardware and JoAnn Fabrics.
HAGERSTOWN, MD-An 825,000-sf warehouse building in Hunters Green Industrial Park hits the market and sells to New Boston Fund in exchange for $26.5 million. The 70-acre parcel also provides developable space for up to 400,000 sf.
DALLAS-Nine franchisees will open another 30 stores in the region while the corporate team will add two more to its roster. Each store, taking up 1,250 sf, costs an average of about $250,000 to set up.
HOUSTON-Wildcat Services buys 12920 Cypress North Houston Rd. from Robert Scherer of Houston in a behind-the-scenes trade of a northwest submarket property. The buyer starts moving its headquarters as soon as the ink dries.
PHOENIX-The Portland, OR-based investment group takes over the 95%-leased, five-building Thunderbird Business Park along West Indian School Road. The complex is the fourth metro-area property bought in three years by the investors.
CHICAGO-"This is the first development in this area in about 50 years," says 11th Ward Ald. James Balcer of a plan to build 20 townhomes and 16 single-family homes in the 1700 block of West 38th Street.