TEMPE, AZ-A California investor is unfazed by Tempe's high negative absorption, plunging ahead with a $2-million closing for a 40,300-sf industrial building. The building is located in the Valley's second highest vacancy submarket.

LA PUENTE, CA-Separate investors acquire three buildings totaling 62,000 sf. All are inside the recently completed Valley Business Center.

SAN DIEGO-A maker of hard enclosures for submarines and ships has signed a six-year lease for 45,000 sf in a 66,400-sf, two-story building the Rancho Bernardo Corporate Center previously occupied by Sony and Motorola.

Michigan property-tax law permits annual increases in a property's taxable value, but generally they are limited to the lesser of 5% or the rate of inflation…