TEMPE, AZ-A repositioning pro from Beverly Hills, CA buys the 150-unit Terrace Road Apartments. The purchase comes with a plan for improvements inside and out to the 100%-leased, four-building complex.

TEMPE, AZ-The first wave of condos on the banks of Tempe Town Lake is practically sold out. Another two phases come in early 2003. The rush to buy is all about location, from the lake views to the nearby Diablo Stadium and the famous Mill Avenue.

GLENDALE, AZ-The lease marks the 11th location for the California retailer since it moved into the market at the beginning of the year. The chain takes 22,390 sf in the 39,260-sf Glendale Central Center.

PHOENIX-Ground breaks on a 23,700-sf, four-building campus at 1802 W. Parkside Lane. The project delivers in May 2003 in an undertaking supported by more than $300,000 in donated materials and time from the development community.

GLENDALE, AZ-Federated Mutual Insurance is boxing up for the move into 41,000 sf of the Talavi Spectrum, Opus West's newest office building at 5701 W. Talavi Blvd. The two-story office building's location spirited the relocation.

TUCSON-American Property Management of San Diego takes over the 180-room Rio Rico. The upgrades will include a day spa to go along with other high-end amenities that qualified the property as the state's leading small resort.

SCOTTSDALE, AZ-The Westar project is fetching $170 per sf for office condo pre-sales, which have claimed two of four buildings. The appeal, says a broker, is getting equity in a combo office and retail project. Ground breaks in 2003.

SCOTTSDALE, AZ-SuperPumper acquires six service stations and convenience stores in the sell-off by Giant Industries, looking to slash debt after spending almost $170 million for East Coast assets. The effort has a revolving credit facility down to $35 million.