PHOENIX-A San Francisco-based owner exits the local market with the $6.8-million sale of Papago Crossing Apartments, a 180-unit, class B apartment complex. The Chicago-based buyer is actively searching formultifamily in the Valley.

HOUSTON-A local investment group lays claim to twoforeclosed building in the northwest submarket. Withan asking price of $950,000, the 35,000-sf warehouseand 5,500-sf office building will require $200,000 inrenovations.

PHOENIX- After years of rapid expansion throughout the Valley, conventional grocers are slowing down in the face of Wal-Mart.

FORT WORTH-Crescent Real Estate Equities Co. sells 16.2% of its stake in its joint venture with JP Morgan to an affiliate of the General Electric Pension Trust for $144 million.

TUCSON, AZ-A 120-unit, class A apartment complex receives 15 offers before trading for $14.8 million to a Denver-based condominium converters. The sales price sets a new per door record of $123,000 for the city.

HOUSTON-Demand from big events like the Super Bowl and baseball's All-Star Game brought the hotel market out of decline this year, but 2005 could be uneventful if corporate travel doesn't materialize to jump-start the sector.

IRVING, TX-Phase II of MacArthur Park Shopping Center, a Kroger-anchored shopping center totaling 198,443 sf, trades for $38 million to Houston-based AmREIT. Other tenants in the fully leased centerinclude Linens 'n Things and Barnes & Noble.

HOUSTON-Standard Register Co. relocates from a1940s-era building to 51,000 sf at Alamo CrossingCommerce Center Building B, in the northwest submarket.The five-year lease brings the three-year-old buildingto 77% occupancy.