MESA/TEMPE, AZ—Investors are finding significantly more room for rent growth in the value-add space as contrasted with the newer class-A product, especially given current construction costs in the Greater Phoenix market.

FRISCO, TX—Another project to be built within the $5 Billion Mile is Domain At The Gate developed by Embrey Partners, the first project to break ground inside the master planned Gate development.

HOUSTON—The 320-unit, garden-style multifamily community, Park Lakes Apartments, located at 9955 Buffalo Speedway sold to Advenir Inc. for an undisclosed amount free and clear of existing debt.

AUSTIN, TX—An office building near the Texas State Capitol has a new owner preparing an $11 million redevelopment of the building, with expansion to total nearly 100,000 square feet.

Here's a look at this week's trends, announcements and deals that you may have missed in Texas, New Mexico, Colorado, Oklahoma, Arkansas and Louisiana.

WALNUT CREEK, CA—Lowe Enterprises acquires 500 Ygnacio, a class-A office asset on the city's busiest corner, with plans to boost the exterior appeal of the property and build on the property's strengths by maximizing the space efficiency.

DALLAS—The impact of lower oil prices on economic growth and the office sector has been mixed throughout the region, which is home to many of the world's major energy-centric cities, says Martin Woodrow of Cushman & Wakefield.

HOUSTON—Boyd of Boyd Commercial/CORFAC International received the Charlie King MVP Award as CORFAC's most valuable player in 2016, after winning it in 2012, twice in his 25-year CORFAC tenure.