Piper Jaffray & Co. of Minneapolis agrees to a 10.5-yearlease with a $4-million value for 15,022 sf in the PortalesCorporate Center at 4800 N. Scottsdale Rd. in Downtown Scottsdale.The deal enables the stock brokerage company to consolidate twooffices--one in Scottsdale and the other in the CamelbackCorridor--into the new location by mid-September, Jim Watkins, aprincipal for Lee & Associates Arizona in Phoenix, tellsGlobeSt.com. "This property was a logical choice because it wasequidistant from both offices," he says. "By far it's the nicestbuilding in the target area."

The 165,000-sf building, built in 1999, was 98% occupied uponthe lease execution. The 36-acre Portales Corporate Center featuresmixed-use commercial offerings totaling 500,000 sf of office,70,000 sf of retail space and a 40-room hotel. Rob Ryan of ForumCapital LLC in Scottsdale represented the local building owner,Anchor-Forum Portales LLC.

In Tempe, Pinnacle One Inc. signed a six-year lease renewal foran 8,800-sf office at 1620 W. Fountainhead Parkway in theFountainhead Corporate Center. The payout is more than $1 millionfor Tempe-based construction management firm, which has operated atthe location for 5.5 years.