IRVINE, CA—According to Ellen Bartholemy of Hall & Co., property owners need to start planning now for the new lease accounting and revenue recognition rules that will likely go into effect in 2018.

CARPINTERIA, CA—Montana Avenue Capital Partners buys an 118,394-square-foot office property for the highest price ever paid in the city, approximately $32.5 million.

PHOENIX—In this edition of Deal-Tracker, a 94,885-square-foot South Phoenix distribution building at 2021 E. Jones Ave. sold for $5.1 million. The seller also negotiated a sale/leaseback term to occupy the facility for 16 months.

HOUSTON—Unexpected sources are just part of the office picture, say panelists on the "Capital Markets Outlook" panel at NAIOP's inaugural O.CON.