PHOENIX-The May Department Stores sells a five-year-old build-to-suit that once housed a credit center. Dark for a year, the single-story office building trades to a local investment group, which has jumpstarted a race to place tenant in six months.

TEMPE, AZ-The Reserve at Town Lake is picked up by a California couple, who get a promise for solid returns after general improvements for their first acquisition in the metro. Escrow on the property closed in less than 30 days.

GILBERT, AZ-Just SUVs unpacks in an industrial spot in the East Valley Commerce Center in a three-year pact signed as replacement space for a just-sold, larger location. A new focus on Internet sales offsets less elbow room.

MESA, AZ-Granite Capital Investments of Los Gatos, CA uses 1031 Exchange funds to buy a pair of buildings, totaling 55,591sf, in Clearview Commons, a three-structure mix of office, industrial and retail space developed as a merchant-build project by Voit.

PHOENIX-Automotive wholesaler, J&A Arrowhead Enterprises, places the winning offer just one day after the 6,200-sf building comes to market. The sellers, now dissolving a business, pen a 15-month lease until the new owner is ready to take down the space.

MESA, AZ-The brand-new Super Wal-Mart Shops, sitting in the shadow of a super center, sells with a 7.8% cap rate to a California investor with the highest price and best due diligence terms on the table.

TEMPE, AZ-Crown Pacific Properties and AEW Partners team for a second buy in the metro, paying $14.7 million for the 244-unit Lakefront at West Bay. The repositioning plan calls for $1.8 million in renovations in the next nine months.

PHOENIX-A California investment company with tenant in tow buys a 4,500-sf building adjacent to Sky Harbor International Airport. The building will become home to a repair shop for the airport's ground-support equipment.