SCOTTSDALE, AZ-The buyer is an entity of Flagstaff, AZ-based investors Leo Crowley and Roy Gardner. The plan is to improve rents and retrade the 48,731-sf shopping center in the next three to five years.

HOUSTON-NewQuest Properties has added 4.5 acres to an existing 4.5-acre site. The acquisition will facilitate the development of a 24-Hour Fitness sports center, inline retail space and a pad site.

HOUSTON-The multifamily rental market has been insulated this year from the woes of the depressed economy. Out-of-state interest and slowed construction levels have kept the market healthy and balanced, one study observes.

HOUSTON-Golden, CO-based truck trailer maintenance firm North American Terminal Co. has moved into the Houston market with a 13,949-sf lease at 1211 Hays St., which had been on the market for a year.

HOUSTON-Weingarten Realty Investors is selling $52 million in five- to 11-year notes at rates ranging from 5.14% to 6.11%. Weingarten's president says the move is aimed at paying down debt and "maintaining a strong balance sheet.

HOUSTON-The full report will be out soon, but the few stats that were released show a positive absorption of 63,165 sf and a year-to-date still in the red. Meanwhile, the Galleria submarket leads off Q3 with more leases.

SCOTTSDALE, AZ-Bell Automotive has moved its corporate headquarters from Illinois to the sunny streets of Scottsdale. The firm is starting out in a subleased, back-office building on East Hartford Drive.

PHOENIX-As the office market continues to suffer, high tech/back office users are being lured back into traditional office space by cheap rents and concessions. As a result, the high tech/back office sector of the Phoenix industrial market is hemorrhaging space.