PHOENIX- Valley real estate firms and related professional industries make a series of promotions and hires, from vice presidents to a revenue management director. In all, five firms have lined up changes for their teams.

PHOENIX-BondTech Industries has signed for an office spot in a 7,700-sf industrial building in Phoenix's north submarket. The multi-tenant building is positioned at 14631 N. Cave Creek Rd., about a mile west of Squaw Peak Parkway.

MESA, AZ-Power Partners, a developer of storage facilities, is moving into the Arizona market, grabbing nearly five acres in a $667,000 buy. The Augusta Ranch project, eventually totaling 60,000 sf, breaks ground in October on 50,000 sf or roughly 498 units.

MESA, AZ-Falkin Platnick Realty Group of Cranford, NJ spends more than $52,570 per unit for the 194-unit the Pines in Mesa. The firm is laying the groundwork for upgrades in excess of $250,000 for its first Valley acquisition.

GLENDALE, AZ-AJ's Fine Foods has signed on as the anchor tenant for the planned Village at Arrowhead in Glendale. Now that a 30,000-sf high-end grocer is on board, the leasing game plan now is to push full throttle to round out the mix.

PHOENIX-The Allred Cotton Center has added Wells Fargo to its tenant roster. The 26,600-sf lease will be used for a back-office operation and processing center. Brokers from Lee & Associates and CB Richard Ellis cut the deal.

PHOENIX-Douglas Allred Co. of San Diego is hard at work on an $11-million second phase to its Allred Sky Harbor Center. The development will bring another 147,000 sf of industrial space to the airport area, one of the Valley's strongest submarkets.

PHOENIX-Office and industrial markets in the region are definitely following suit with the nation. Office vacancy was 12.8% at midyear and industrial, 8.9%. The sectors haven't stopped, but new construction is going to make the burden even harder to bear.