PHOENIX-MVG Investments buys the 98-unit, class B-minus Silver Tree Apartments for $4.2 million, picking up the deal when another contract falls out. The 19-year-old complex, with a history of strong occupancy, is 95% leased at sale time.

PHOENIX-First-quarter office construction is 50% higher than it was at the 2004 close, with 2.1 million sf now coming out of the ground. The Ranches in Scottsdale and West Valley submarkets account for more than half of the under-construction space.

PEARLAND, TX-Florida Capital Land Corp. gets $19 million of construction financing to begin work on the 292-unit Cobblestone Park, planned for 59 acres in a fast-growing suburb south of Houston. Delivery is slated for second quarter 2006.

PEARLAND, TX-Florida Capital Land Corp. gets $19 million of construction financing to begin work on the 292-unit Cobblestone Park, planned for 59 acres in a fast-growing suburb south of Houston. Delivery is slated for second quarter 2006.

PHOENIX-In a dual-pronged play, Lincoln Property Co. sells the 224,308-sf Lincoln Commerce Park for $20.3 million in an off-market deal and makes plans to build another 307,804 sf, with a $21-million development cost, on 19 acres right across the street.

PHOENIX-In a dual-pronged play, Lincoln Property Co. sells the 224,308-sf Lincoln Commerce Park for $20.3 million in an off-market deal and makes plans to build another 307,804 sf, with a $21-million development cost, on 19 acres right across the street.

PHOENIX-First-quarter activity drove 1.7 million sf of net absorption, breaking a record for the Valley's industrial market, according to Cushman & Wakefield of Arizona Inc. The performance outpaces Q1 2004 by 500,000 sf.

PEORIA, AZ-An investor from Southern California pockets the keys to Brook Hollow, a 93-unit, class B development for $5.5 million. Brook Hollow Management LLC outmaneuvers four other would-be buyers with a full-price offer.