PHOENIX-Investors, many from California, are chasing acquisitions in the Valley as they seek high-quality retail, industrial and even office properties. The lack of supply of available product is forecast to keep sales slow in 2003.

ARLINGTON, TX-The Houston private investor buys a 5,112-sf building, with a 15-year tenant, along one of Arlington's busiest retail streets. The seller, a Dallas developer, goes right down Collins to buy a similar property at below market rate.

WASHINGTON, DC-Charlotte, NC-based Summit Properties Inc. makes plans to expand its presence in the Washington area--one of its core markets--with news that it will let go of its Texas properties and redirect resulting profits to deeper penetration here and in Southeast Florida.

GREATER BOSTON-The investment market in the area has plenty of capital to invest in the real estate market but with investors flocking to high-quality deals, those assets are selling quickly and at high prices while lower-end product is barely moving.