GLENDALE, AZ-The Corte Freccia, a class A retail and office project, gets off the ground with a $4.3-million loan and nearly 50% pre-leasing. The 24,751-sf building is set to doors in September.

PHOENIX-A Washington state investor closes its first Phoenix deal, paying $9 million for the 64-unit Pavilions on Camelback to a Gray Development-affiliated seller. The 95%-leased complex boasts an average rent just north of $1,300 per month.

PHOENIX-Glendale, CA-based Heatherwood Holdings LLC puts down nearly $10.1 million for the northwest Phoenix community, nestled in one of the best job bases in the metro. The 174-unit sale marks another market entry by a California multifamily owner.

KINGMAN, AZ-County officials expect to be turning on lights by September 2005 in a 130,000-sf administration building, signing a 15-year, lease-to-own contract with Opus for what is considered "a hallmark project" for the county. Ground breaks in July.

GLENDALE, AZ-Trivest Residential of Dallas picks up the 184-unit Greentree Apartments for $8.9 million. The late-1980s complex is a favorite among students of the nearby Thunderbird-Garvin School of International Management.

PHOENIX-US Digital Media picks up the 30,906-sf Lone Cactus office/warehouse, the last in a package of smaller properties owned by Equus PHX1 LLC. The La Jolla, CA-based seller is gunning for 100,000-sf office buildings or larger.

CHANDLER, AZ-The semiconductor kingpin embarks on a $2-billion conversion of the 900,000-sf Chandler Fab 12 facility without changing the footprint of the building. The project, with a 1.5-year construction schedule, is Intel's first such conversion.

MESA, AZ-A Beverly Hills, CA multifamily buyer picks up the Country Club Apartments for $1.3 million from a long-time Mesa investor. The deal is one of a slew of recent multifamily purchases by California investors.