"Ivest's asset are very concentrated in the northwest," saysJeff Barbles, an investment broker with Marcus & Millichap'sHouston office, "and they were looking to buy larger assets in thesame area." He and Marcus & Millichap's Rob Chandlerrepresented Ivest in the purchase of the class B holding, athree-building complex on 12.1 acres at 8700 to 8758 Clay Rd.Seller Thrivent Financial, the institutional fund for the LutheranChurch, had Brian Gammill of Transwestern Commercial Services Inc.negotiating its terms.

Barbles tells GlobeSt.com that Ivest's current properties aresuited for smaller tenants, which means the company has not beenable to accommodate tenants as they grow. "A lot of their tenantbase had outgrown their existing buildings," he says. "They wantedto upgrade and diversify to larger spaces."

According to Barbles, the business park size is not the onlything that makes the acquisition unusual for Ivest. "Usually theybuy buildings that are 20% vacant and then redo them," he says. Thefirm is a long-term holder that's owned most of its portfolio atleast 10 years.