One of the scarce available properties is available no more, with Dermody Properties acquiring a 390,800-square-foot distribution space at Hacienda Business Park including excess land for future expansion.

Sure a quality tenant mix is important, but engaging the community through programming is becoming an essential element of a successful retail center.

With 1.2 million square feet of office absorption year-to-date, Phoenix's office market is in ranks with Denver, Austin and Orlando.

The New York City-based real estate investment firm has acquired a 50,000-square-foot lot—55 Buena Vista Ave.—for $18.3 million. The 400,000-square-foot rental apartment development it plans to build at the site will feature 361 rental apartment units.