PHOENIX-A Philipsburg, MT owner sells the 18,060-sf Pedregal Pointe Shopping Center after the list is lowered to $4.3 million and a conduit loan is retired when a 10-month marketing comes up dry. The 80%-leased center changes hands for $3.9 million.

CASA GRANDE, AZ-City officials ante up $2.7 million for the Lexington Machining building, which has sat vacant at least one year. The 63,700-sf building will be used by the public works department.

BEAUMONT, TX-A 1031 exchange buyer from Long Island, NY makes the high offer to win a 124,783-sf shopping center that houses Conn's Inc. corporate headquarters. College Retail LLC pays close to $4.9 million for the 1960s-vintage center.

PHOENIX-Manatee Investments II LLC and Agua Caliente Investments II complete the buy-portion of a 1031 exchange by paying $13.5 million for Paradise Square. The upside will come from filling a dark 55,000-sf anchor spot and building out a pad site.

PHOENIX-Manatee Investments II LLC and Agua Caliente Investments II complete the buy-portion of a 1031 exchange by paying $13.5 million for Paradise Square. The upside will come from filling a dark 55,000-sf anchor spot and building out a pad site.

HOUSTON-Sanchez Oil & Gas Corp. plans a summer move to the 16th floor of the class A building. The Laredo-based firm is making a lateral CBD move with the long-term lease, inked after a six-month search of the market.

PHOENIX-A 1031 exchange buyer from Los Angeles pays $1.1 million for the Los Olivos Healthcare Center. The next move centers on a $1-million-plus rehab of a 62,598-sf facility that went dark in summer 2004 when Tenet Healthcare Corp.'s lease expired.

GILBERT, AZ-Elsinore Developers LP scoops up the last piece of land in Continental Tech Center, paying $696,456 in cash for 1.7 acres to get an inroad to the Valley. The Los Angeles-based firm's project will cost $2 million, including the land cost.