MEMPHIS-The Houston-based REIT refused to disclose the purchase price of the 407,200-sf, 28-acre Outland Business Center but the combined properties are appraised for taxes at $7.6 million or $18.66 per sf.

MINNEAPOLIS-Now at 1.8%, vacancy rates are expected to soar past 8% for some properties, especially high-end multifamily rental buildings, while rents fall from their current level of $816 per month on average.

SANTA ANA, CA-It is the latest in a string of apartment complexes to change hands in Orange County in recent weeks, as investors continue to eye multifamily product here. The complex, which has sold for $1.4 million, was 100% occupied at the time of sale.

VANCOUVER, WA-The 2001 year-end market as surveyed by Norris, Beggs & Simpson shows a 10.2% direct vacancy rate at year-end. Sublease space pushes the figure to more than 12%.