PHOENIX-The Southern Sun's developer passes the deed to a two-year-old development to RK Multifamily Income Fund XV of Long Beach. The West Bell Road location and project size draw high interest from midsize investors.

TOLLESON, AZ-Mission Foods, Edson Electric Supply and Century Die Co. take a combined 18,000 sf of the 222,288-sf development as it nears the construction completion. The talks end with one seven-year lease and two five-year pacts.

PHOENIX-After two years at the helm, Tom Higgins will exit by Aug. 13, setting off a nationwide search to get a replacement ASAP. Higgins counts the ongoing installation of high-speed Internet access and a lucrative Nascar sponsorship among his successes.

PHOENIX-AT Systems Inc. of Pasadena, CA makes the deal with Lincoln Property for a 25,176-sf build-to-suit, set to rise alongside a 32,496-sf spec building. With the deal in hand, ground will break in January 2005 on Lincoln Sky Harbor's first phase.

PHOENIX-Aliposa Properties of Tigunga, CA, spends nearly $3.2 million for a 28,017-sf research and development facility in the northwest submarket. The buyer was one of four vying for the assumable-debt deal.

MESA, AZ-A Piedmont, CA investment group takes the Fry's Marketplace Shops with a $1.9-million loan assumption with another four years left on the term after a nine-month marketing by two brokerage houses.

SCOTTSDALE, AZ-Bob Lundstedt, Jerry Hillery and Darren Tappen exit Cushman & Wakefield of Arizona as they eye the promise from Deer Valley's potential and users looking for lower property costs than what can be had at Scottsdale Airpark.

PHOENIX-An Iowa investment group, planning a long-term hold, buys a 17,600-sf warehouse with a 20% vacancy. The Black Canyon property is leased to a mix of startups and small service-oriented companies.