BIRMINGHAM, AL-Saks Inc. names a new COO and a new vicechairman for Saks Fifth Avenue Enterprises.

PHOENIX-McDowell Investment Corp. of San Francisco, with an eye to buy in Arizona, makes its first investment in the Valley with the 384-unit Somerset Villa Apartments, a class B complex at 909 W. Colter St.

HOUSTON-Officials today will gather at the Sam Houston Visitors Pavilion to celebrate the milestone. As one of the nation's busiest waterways, the port is expected to post a 10% annual growth of container shipments while becoming a leading cruise terminal.

PHOENIX-A New York City couple relocates to the Valley and jumps into a 1031 Exchange for a 19,529-sf, two-building office complex along North 24th St. The $1.1-million trade soon will be 15% vacant, opening the door for repositioning and upside.

PHOENIX-An all-cash buyer beats out seven other investors with a $2.4-million offer for the Willows, a class B office asset built in 1985. The 33,275-sf project has been 58% leased since late 2003.

HOUSTON-The International Facility Management Association center is open to members and non-members, who can log on for competency courses, workshops and on-demand audio seminars.

THE WOODLANDS, TX-A real estate agency, pizza parlor and Thai restaurant prelease a combined 11,000 sf in the 22,500-sf Research Forest Plaza. And, more leases are brewing for a project set to open doors in January 2005.

SCOTTSDALE, AZ-Shea Commercial looks to add 1.2 million sf to its office condo portfolio, expanding into San Diego, Denver and Washington, DC. To help with the push, Shea promotes Neal Waldman and hires three more for the team.