PHOENIX-The slowing economy has finally hit the retail market, where vacancy is up a full percentage point from last year at this time. The 6.1% rate comes with negative absorption in four of nine submarkets, according to Grubb & Ellis' latest Arizona report.

SCOTTSDALE, AZ-Auto Nation, based in Ft. Lauderdale, has bought a Nissan dealership in Scottsdale, opening the door to a consolidation of adjacent operations to form the nation's largest Subaru dealership. Auto Nation shells out $2.3 million.

PHOENIX-The metropolitan region is feeling a pinch from the sagging national economy, with industrial vacancy dipping by nearly a point. The 7.2% vacancy results from more than 1.8 million sf coming back on the market.

TEMPE, AZ-Opus West has received the green light from Tempe to build a 100,000-sf office building in its 140-acre Emerald Center. Ground will break at year's start on the class A undertaking, being positioned on 25 acres.

PHOENIX-The metropolitan region is feeling a pinch from the sagging national economy, with industrial vacancy dipping by nearly a point. The 7.2% vacancy results from more than 1.8 million sf coming back on the market.

PINETOP/LAKESIDE, AZ-Phoenix-based AMP Real Estate has paid $1.6 million to a California investment group for a 48-unit apartment complex in the rural community of Pinetop/Lakeside. The buy is the Apple Tree Apartments along W. Jackson Lane.

PHOENIX-It's not much, but 14,500 sf of sublease space comes off the market in a deal between McCullough Mortgage and North American Mortgage. McCullough will be moving into the class A Biltmore Lakes in the Camelback Corridor.

PHOENIX-SunAmerica Investments will break ground in August on a 1.1 million-sf office campus on 25 acres that it has owned for several years. Washington Park will feature on-site amenities such as retail and hotel as bait for Fortune 500 companies.