CHANDLER, AZ-Marco Polo has acquired a 3,000-sf Arby's restaurant site from a private investor who has held title for just a year. The property is situated at the corner of Alma School and Queen Creek roads near Ocotillo.

TUCSON-The Southern Arizona VA Hospital is building an 83,000-sf building project to house services from three existing buildings. A three-fold increase in the number of outpatients and convenience spark the consolidation.

SCOTTSDALE, AZ-The Stool & Dinette Factory is opening a 10,000-sf location at the East Thunderbird Square-North. The casual indoor-outdoor retailer is joining a host of competitors that has opened in two neighboring centers.

PHOENIX-Diamante LLC, based in Colorado Springs, CO, has paid nearly $3.2 million for a partial interest in the upscale Pepper Ridge Plaza. GSW4 has sold its interest in about 20,000 sf of shop space for nearly $160 per sf.

SCOTTSDALE, AZ-The 330-unit Scottsdale Foothills Apartments brings about $21 million for the International Properties Group, based Calgary, Canada. The complex's value has been boosted by the ongoing development of Loop 101.

SEDONA, AZ-A Toronto-based company has joined with Scottsdale's Pinnacle Group and Cavan Investments for its first time-share development. The team has paid $12.5 million, partly in cash, for 136 acres. The buy signals a defeat for preservationists.

SCOTTSDALE, AZ-The owner of the Jefferson at Scottsdale has finalized $42-million in permanent financing for his May purchase of the 539-unit complex. The project had been developed in 1999 by Texas-based JPI.

CHANDLER, AZ-Lowe Enterprise Commercial Group is pushing dirt on a 375,000-sf first phase of a $49-million office park. The 26-acre site is about a half-mile from the under-construction Price Freeway.