PHOENIX-The buyer of the 248-unit complex is a California-based investment group that's making its second acquisition in three months in Arizona. The 95%-occupied property brings in a per unit average of $825 per month.

SPOKANE, WA-A Texas businessman with a penchant for local investments purchases the South Hill property from Spokane Medical Building Associates. The building was 90% occupied at the time of sale.

SCOTTSDALE, AZ-MSC Life Insurance is coming on board for five years at the Galleria Corporate Center. The move-in is set for December into a 10,750-sf office in the 606,521-sf, mixed-use project.

NEW YORK CITY-The iconic department store will create a second Manhattan presence with a Downtown store at 504 Broadway. Ground will be broken in the spring and a fall 2003 opening is planned.