TEMPE, AZ-Waxie Sanitary Supply, a distributor of cleaning supplies, inks a three-year pact with a $470,000 payout to get extra distribution space to supplement its corporate-owned, 48,000-sf building.

SCOTTSDALE, AZ-Scottsdale Townhouse Apartments, a 27-unit, class B complex, garners trades for $25,000 more than the $2.2-million list price. An investment group from Sunnyvale, CA pockets the keys to the 1951 complex.

HOUSTON-The locally based REIT sticks to a strategy to buy retail properties in irreplaceable locations, spending $68.8 million for Uptown Park. The deal's been in the works at least a year.

PHOENIX-Vestar Inc. secures $156.7 million in three loans to replace construction financing on three power centers totaling 1.2 million sf. The loans, executed simultaneously with different lenders, carry 10-year terms at a sub-6% fixed-rate interest.

PHOENIX-Vestar Inc. secures $156.7 million in three loans to replace construction financing on three power centers totaling 1.2 million sf. The loans, executed simultaneously with different lenders, carry 10-year terms at a sub-6% fixed-rate interest.

HOUSTON-Velocity Express settles on 20,608 sf of office space in Corporate Plaza I after searching five months for a new location for its national operations group. Meanwhile, the search continues for new space for its local delivery group.

TUCSON-A first-time buyer in Arizona makes the first and best offer for Tierra Palms, a 120-unit, class B complex in the southwest sector. The Gardena, CA exchange investor pays $4.7 million for the 13-year-old complex.

PHOENIX-In a just-released retail report, Valley rents are projected to go up 3.8% before the year ends. If the prediction comes true, the new average will be $17.79 per sf. Researchers also predict vacancy will dip to 8.5%.