PHOENIX-The Macerich Partnership has plunked almost $1.5 billion on the table for Phoenix-based Westcor Realty. The regional mall owner's acquisition is to close in the third quarter. The plan calls for assuming $733 million in debt.

HOUSTON-Bank One has its CB Richard Ellis broker on the prowl for locations. Ground breaks in 30 days on one site while another location is under contract. The broker has her eyes on nine others in and around town.

PHOENIX-Corstar Financial moves from an abutting office building into a 5,159-sf first-floor suite in the Transwestern/Mony-owned structure along North 16th Street in Phoenix. The deal is valued at $574,368 over its term.

HOUSTON-PM Realty Group secures the leasing and property management contracts for more than one million sf in three office buildings in Texas and Florida. The assignments will be handled by the firm's central division team.

PHOENIX-Carmelita DeLong of Phoenix trades up to the 16-year-old Spinnaker Cove from a 10-unit complex in Phoenix. The buyer gives $1.02 million to a California pharmacist who wanted to sell so he could expand his pharmacy business.

PHOENIX-Larry Downey and Jerry Jacobs change their letterhead after years of being with Grubb & Ellis. The long-time partners get senior director titles with the affiliation change. It's just a fluke that it coincided with the failed G&E buyout talks.

HOUSTON-Ground will break in 30 days on the first spec industrial product in a decade at the Port of Houston's Barbours Cut. One tenant's already considering a good-size portion of the 180,000-sf first phase. Clearing begins now that the 8.2 acres are in hand.

HOUSTON-Lucky's, an arcade operator of gaming machines, doubles its retail needs after two months in the market. Meanwhile, Taiwan Tapoica is testing the waters with a pilot store at the Beechcrest Green center.