The office park is 94% leased with a tenant roster that includesTDS, Humana, Capitol Indemnity Corp., West Bend Mutual and Smithand Gesteland. Timothy Carey, president of Greenway Properties,says the time was right for his company to sell. "The synergybetween the portfolio characteristics and the dynamic institutionalinvestment and capital markets has created the opportune time tocomplete our exit strategy," Carey says.

Terrance Wall, president of T. Wall Properties, agrees that thetime was right; the purchase puts his company "three years ahead ofschedule" on its track to becoming a $500-million company. To helpfund this acquisition, the company completed a fourth-equityoffering at $5 million, which added 48 new investors. The totalnumber of investors today stands at 198. "We also opened a 12% noteoffering in December, and raised $6.2 million in just two weeks,"Wall adds. The additional capital is now being deployed in variousacquisitions and development opportunities, he says.

As part of the transaction, T. Wall Properties will acquire twoland parcels at Greenway Center later this year, including a5.75-acre site located in front of the Marriott Convention Centerand Hotel at Greenway Boulevard and US Highway 12. The company willalso take hold of a 4.8-acre site at Market Street and AspenCommons. T. Wall executives say the future development of the landand the expansion of existing buildings will add up to 575,000sf.