THOUSAND OAKS, CA-Faced with slim rental prospects in Malibu, a biotech firm will in April move its operation into 48,598 sf at the Conejo Spectrum. The relocation will give CERES nearly double the laboratory and office space and allow the firm to tap into the area's base of high tech workers.

PHOENIX-The year-to-year analysis shows rent down a $1 on the average and occupancy up 0.6%, neither of which has kept away investors. One research team credits the area's low land and labor costs to investors' motives for buying or building.

LOS ANGELES-Global investment giant Smith Barney will move its financial services operations from Century City's Watt Plaza after 20 years at the same location. The leader in the US security industry plans to move into Fox Plaza in Century City early next year under a 10-year multi-million dollar lease.

LAVEEN, AZ-Booming residential growth fuels commercial interest in the tiny farming village south of downtown Phoenix. The first out of the chute is a Fry's-anchored center at the northwest corner of 51st Avenue and Baseline Road.

PHOENIX-The 1,100-acre, master-planned community will get a 324-unit luxury apartment community on a tract strategically set near Interstate 17 and Carefree Highway. Construction will begin before the year ends.

PASADENA, CA-A California couple found the perfect building in which to open a performing arts center for children. The pair purchased the 7,035-sf single story office property, once used as a laboratory, by outbidding other buyers with a $1.1 million offer.

WEST HOLLYWOOD, CA-West Hollywood's landmark House of Blues will get some new neighbors under a $60 million plan that calls for the creation of 35,000 sf of retail space along with a 139-unit condo and apartment complex. The development, the first of its kind for West Hollywood, will give the area an "Italian courtyard" feel, says the developer.

PHOENIX-Real estate veteran Eric Forshee has been appointed to the post of senior vice president and director of property services for Trammell Crow Co.'s Arizona region, continuing a duty he held since 2001 for the former Insignia/ESG.