PHOENIX-The multifamily market isn't faring so well, with 30% fewer bids coming in for available properties. Institutional investors have turned their backs on the market and the private investment sector is being cautious due to modest-to-flat rent growths.

ORANGE, CA-The local office of Lee & Associates has brokered the sale of Rialto Freeway Business Park, a 40,459-sf, three-building complex located at 323, 342 and 363 W. Valley Blvd.

ELGIN, IL-Chicago-based Corus Bank loans Randall Lakes Limited Partnership $5 million to build a two-story office building, the fourth in Randall Point Executive Center. The office park has seen 160,000 sf of space leased.

DENVER-The direct vacancy rate remains strong at 9.32%, but when subleased space is included in the equation, it rises to 11.93%, according to a first quarter report by the Denver office of Jones Lang LaSalle.