SCOTTSDALE, AZ-Tendering an unsolicited offer, Reliance Cos. slides in for the close about a month after the 136,000-sf Opus Northsight II delivers. The new owner immediately renames the empty building to Reliance Northsight.

PHOENIX-A local syndicate lays down $7.7 million for Rancho Veredas Apartments, a 213-unit complex in West Phoenix. The 13-year-old property is 90% occupied.

SCOTTSDALE, AZ-The Village at Hayden garners 22 offers before trading to a 1031 Exchange buyer from Southern California. The limited liability company is getting a 90%-leased, office and retail complex filled with regional and local tenants.

HOUSTON-The local REIT advances CFO Stephen C. Richter to executive vice president, while Johnny L. Hendrix takes on the role of executive vice president of asset management. New titles also go into play for Scott Morway and Mark D. Stout.

MARYVILLE, TN-Ruby Tuesday Inc. lays the groundworkfor the expansion by selling franchise rights to Majestic Group.

HOUSTON-As previously reported, Luby's Inc. pulls the corporate team from San Antonio and brings it to Houston, setting up shop for the long term in 26,000 sf of class B space on the top floor of a six-story building at 13111 Northwest Freeway.

TUCSON-A Sacramento, CA investor polishes off a 1031 exchange by parlaying the gain into the $8.2-million acquisition of Silverado Plaza, a 95%-leased, grocery-anchored center at Broadway Boulevard and Houghton Road.

PHOENIX-The private investor from Lahaina buys a 7,500-sf office/warehouse building from T Bar H's Desert Horizon Development, which signs a five-year lease and makes plans to build three more buildings in the Valley with exchange gain.