PHOENIX—With multifamily rents increasing by 8.2% during the last year, vacancy rates are decreasing, resulting in a deluge of off-market property listings and investment sales all over the valley, says SVN Advisors.

DALLAS—Although real estate investment and management company Dalfen America Corp. sold more than $100 million in properties across five states, its focus is Dallas and industrial properties.

AUSTIN, TX—The team navigated the project through a microburst and three 500-year flood events, along with unforeseen technological problems, to deliver the first US surf park with a lagoon the size of nine football fields.

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.

SAN FRANCISCO—The property is filled with glass-enclosed classrooms that maximize light, openness and collaboration, using skylights and light wells in three levels, with the main floor at more than 18 feet tall.

AUSTIN, TX—Trammell Crow and Clarion plan to develop Park 183, a master-planned industrial business park that will deliver 964,000 square feet of class-A industrial space in multiple phases.

FORT WORTH—Columbia Residential has already started construction on Phase I, which will include 140 units of mixed-income housing comprising of high-quality, sustainable design and construction.

PHOENIX—CBRE's global "Workplace360" initiative is the company's approach to workplace strategy designed to promote flexibility, mobility and productivity through unassigned workstations.