SCOTTSDALE, AZ-A 1031 exchange buyer from nearby Chandler beats out three other prospective buyers with a high offer of $5.4 million and a two-week due-diligence period for the 88%-leased center.

PHOENIX-The tenant-in-common investor takes title to Red Mountain Corporate Center and Black Canyon Commerce Park, class A office properties that are 98% and 100% leased, respectively.

HOUSTON-A lower interest rate and extra cash to make improvements compel American Realty Investors Inc. to refinance Waverly Apartments, a class B complex near the Galleria. Thrivent Financial provides the $7.8-million loan.

HOUSTON-Heritage Health Systems Inc. boosts its long-term lease to 49,164 sf after four years in the class A building. The regional headquarters' expansion pushes occupancy to 95% in the Galleria structure.

SCOTTSDALE, AZ-The homebuilder becomes the lead tenant in the 100,000-sf Pinnacle at Perimeter by expanding a 42,612-sf prelease to get enough class A space to include two subsidiaries. The expanded headquarters pact is valued at more than $16 million.

PHOENIX-Research shows office properties are trading at higher prices, pushing the volume of overall deals to $684 million to date this year and shoring up the Valley's position as the Southwest's leader of investment sales activity.

GILBERT, AZ-The Arizona Department of Economic Security ends two years of searching and negotiating for a consolidation site. With the $7.2-million lease put to bed, the developer pencils a fourth-quarter construction start for the class A project.

GILBERT, AZ-The Arizona Department of Economic Security ends two years of searching and negotiating for a consolidation site. With the $7.2-million lease put to bed, the developer pencils a fourth-quarter construction start for the class A project.