GLENDALE, AZ-The ribbon is cut on a 99 Cents Only store, an anchor for the Glendale Central Center at 5340 W. Glendale Ave. The revitalization project has gone from hangout to shopping mecca in the two years that the project's been working.

TUCSON-Vacancy, now standing at 6.1%, is predicted to rise in 2003 as will rent, says Marcus & Millichap as researchers peer into the future. To help meet demand, another 750,000 sf will rise in the Valley.

PHOENIX-A Tempe investor takes title to Orangewood Place at 7328 N. 27th Ave. The asset is a 96%-occupied, four-building property that was on the market just 30 days. Rents range from $510 to $610 per month.

CHANDLER, AZ-Lippow Development Co. buys the 11,363-sf building at 6140 W. Chandler Blvd. in the Chandler Business Center. The center's location and national tenant roster sews up the purchase from CFH Millenium Inc.

GLENDALE, AZ-Park West Development buys another six acres, then sells part to Albertsons. A 54,000-sf grocery and Osco Drug Store will anchor the 12-acre project ticketed for the northeast corner of 59th Avenue and Olive Street.

PHOENIX-Bernard Hodes Group, a recruiting and staffing firm, is settling into a new location in the Camelback Corridor. The New York City firm takes a spot in Anchor Centre, signing a short-term lease valued at $310,000.

PHOENIX-Vacancy will drop and rents will rise in metro Phoenix, says Marcus & Millichap in its 2003 forecast. The positive outlook calls for 42,000 more jobs and an influx of more residents to spur the economy.

ALBUQUERQUE-Forest City Enterprises and Covington Capital will team on the multi-million-dollar project on state trust land. The acreage, 10 minutes from Albuquerque's CBD, is the largest undeveloped tract under single ownership in a North American city.