TEMPE, AZ-Advanced Foam & Packaging completes a reverse 1031 Exchange for a 22,616-sf industrial building at 1773 W. First St. The seller, Alpha Systems, collects $1.8 million from the sale and cuts a deal to stay in 6,000 sf for two years.

HOUSTON-Guaranty Bank FSB will establish a retail banking presence in the same building where it has its corporate offices. The bank signs a 76-month renewal and expansion for 20,135 sf in Three Allen Center, of which 4,000 sf is first-floor retail space.

HOUSTON-Myers & Crow Co. Ltd. sells Northbelt Office Center III and IV to Dallas-based tenant-in-common investment group, Rainier Capital Management LP. The buildings, totaling 107,200 sf, are 60% leased.

TUCSON-A local developer sells the 71,881-sf retail center, including the grocery anchor space, for $11.9 million. Anchored by Safeway, the five-year-old center, with a 95% occupancy, has an inline roster that includes Blockbuster, the UPS Store and Subway.

PHOENIX-Maskil Investment Co. finds a five-year tenant for an empty building, bought two months ago. The lease with Los Angeles-based Trans Coastal Enterprises puts close to $2 million in Maskil's pockets.

PHOENIX-US Foodservice renews an 18m,652-sf lease at 5029 E. Sunrise Dr. and signs a new one for 40,650 sf of office space in the building next door. The office lease runs through March 2011 while the renewed pact is good until December 2007.

HOUSTON-A San Jose, CA-based investment group stakes a claim in the region by purchasing La Fiesta Apartments. The asset, with an occupancy hovering 85%, attracted four offers during a two-month run on the market at $1.4 million.

LOUISVILLE, KY-Yum! Brands Inc. looks to China for big growth opportunities.