PHOENIX-In the latest economic study, commercial construction awards are nearly a third higher, $4 billion, in comparison to the booming early 1980s. That's the good news. Some economic indicators are falling short of projections, however.

PHOENIX-In the latest economic study, commercial construction awards are nearly a third higher, $4 billion, in comparison to the booming early 1980s. That's the good news. Some economic indicators are falling short of projections, however.

SCOTTSDALE, AZ-A Denver-based real estate investment group has paid $21 million for the 330-unit Joshua Tree Apartments in the city's northern tier. Seller Joshua Tree Holdings LLC of Calgary, Alberta, had owned the complex for four years.

PHOENIX-Scene Art & Associates has signed a five-year lease for a 23,500-sf industrial building at 2985 W. Whitton Ave. The company is a manufacturer of interactive areas, primarily for children, at parks, museums and eateries.

CAREFREE, AZ-Peery Arrillaga, a private real estate investment firm, has sold the 85,000-sf Carefree Court, drawing $10.85 million from Hawaii's Alexander & Baldwin. The buyers market has piqued interest in Valley real estate once again.

TUCSON-The 12th Avenue Partners has secured about $1.8 million for a retail center that it's owned for just three years. The transaction puts the 32,400-sf Fiesta Plaza on the city's south side into the hands of the Saia Family LP.

SCOTTSDALE, AZ-Scottsdale City Council is following suit with Glendale, passing an ordinance that restricts developers in the city's northern tier. A use permit is a must to build and that carries some stringent requirements.

PHOENIX-CSI/Crown Inc., a freight distribution company, has signed the first significant lease for the 145,000-sf Sky Harbor Transit Center, which delivers in September. The tenant is taking 36,400 sf.