Home Depot occupies 131,848 sf at the 1750 E. Edinger address.The home improvement retailer holds a 30-year lease at theproperty, which stands on an 11.7-acre parcel. "This lease willprovide a 30-year income stream from a tenant with S&P rated A+credit," says Ted Gibbons, president of Investment Realty Advisors,who brokered the transaction. "It's like buying a bond."

The property's other tenant, Staples, leases the remainingportion of the building, which stands on a 2.6-acre parcel at 1760E. Edinger. According to the terms of the 15-year agreement, theoffice supply retailer occupies 23,397 sf here.

Gibbons represented the seller, Dallas, TX-based North AmericanProperties and the buyer, CA-based Waco Corp. He says the salerepresents a recent trend on the part of investors to buy upproperties that are leased by tenants with investment gradecredits. "Basically, what's happened with big box retail and themarket in general, in light of the current economic conditions, isthat there is a flight to quality," Gibbons says.