"It's fully leased and in good shape. It's a nice property witha good tenant who will pay the rent for a long time," says ThomasIrish, president of Transpacific Development in Torrance, CA. Thenewest purchase, 217 Wrangler Dr. sits just a half mile southeastof Transpacific's earlier off-market buy, the 463,200-sf,two-building campus at 500 and 510 Airline Dr., which was completedin 1995 as MJDesigns headquarters and distribution center.

"It was just coincidence. We had dealt with both sellersbefore," Irish tells GlobeSt.com. "In each case, we were able tobuy off market from two sellers, just a couple of weeks apart andboth in Coppell." The purchases and one made earlier this yearin AllianceTexas pushes the company's 2007 investment in themetroplex to roughly $60 million and 1.8 million sf, according toIrish. "I'd be happy to double or triple our assets there in thenext couple of years," he says.

Transpacific Development's acquisition focus primarily isindustrial and flex, but will chase office in some circumstances.Irish says the San Francisco-based Charles Schwab's six-year-oldbuild-to-suit is a good example. "It's a one-off, single tenant,good credit that fits our appetite quite nicely," he explains.