TEMPE, AZ-A 1031 exchange drives the sale of the 38-year-old McClintock Townhomes in Tempe plus positions the sellers for a first-quarter closing on a larger multifamily property in the immediate vicinity.

SAN JOSE-To accommodate the needs of the growing number of children in the city, San Jose officials are using eminent domain to purchase deteriorated property from owners heretofore unwilling to sell out of court.

LONDON-A 1960s office building in Croydon, South London, has gone at a 10%-plus yield. Henderson Global Investors, acting for London Life, disposed of the building on Dingwall Road.

PHOENIX-Average selling prices are down for office buildings and vacancy is up, but still nobody is fleeing the market, says a Grubb & Ellis vice president. The firm's annual forecast predicts this year's market will resemble 2001 and hold that way until 2003.