PHOENIX-A pair of long-term tenants, a prime North Phoenix location and the area's strong demographics make the right combination for a Monterey, CA trust fund to place the winning offer of $2.9 million, just 1% below the asking price.

PHOENIX-The developers of the popular "insta-suite" concept has closed its Valley headquarters after 11 years. Jim Lentine, vice president of Denali National Trust, says the principals want to pursue other development projects.

SCOTTSDALE, AZ-Lincoln Property Co. and Salt River DEVCO will break ground on a fifth building at the fully leased, 268,134-sf Chaparral Business Center. Pre-leasing talks have enough prospects in hand to half fill the 70,000-sf structure.

PHOENIX-Samaritan Surgicenters moves its administrative offices to the Talley Plaza at 2800 N. 44th St. in a relocation that gives the firm an additional 5,000 sf or 15,000 sf total under a five-year lease arrangement.

PHOENIX-Better times are ahead, says a team of Grubb & Ellis/BRE Commercial professionals. According to the team's forecast, the Valley's industrial, retail and office sectors will continue to improve barring any unforeseen economic downturns.

SCOTTSDALE, AZ-City council is expected to approve a plan next week for $3 million in start-up funds to help build a 100,000-sf biotech research laboratory on the Mayo Clinic campus. The facility is slated to open late next year.

PHOENIX-Denali National Trust, developer of the popular "insta-suite" office concept, sells the 198,452-sf Paradise Valley Corporate Center to Scottsdale-based International Capital Partners in an off-market deal for a class A property.

PHOENIX-Uptown's office market may be languishing, but that doesn't stop a California investor from paying full price for a 25,255-sf, class B building. The property's 96% occupancy, a rarity in Uptown, turned the keys.