CHANDLER, AZ-Gustine Properties of Pittsburgh has closed a $1.8-million deal for a two-acre tract in Chandler. The developer will immediately start work on a 12,987-sf CVS pharmacy, the first Arizona location for the chain.

PHOENIX-Rent is stagnant and concessions abound in a multifamily market that's experienced several years of back-to-back hardy growth. But, says Marcus & Millichap researchers, the region's fundamentals remain strong and demand will stay steady.

PHOENIX-The Association Group Insurance Administrators will be boxing up records for a move to Pointe Corridor Centre IV in east Phoenix. The insurance company provider has signed for 7,310 sf of the Presidio Investments' building.

PHOENIX-The 133,289-sf Concord Place is welcoming two law firms on board in five-year signings for one of the Gateway submarket's premier addresses. The submarket's lower rates offer stiff competition to the nearby Camelback Corridor.

PHOENIX-Rascals International will place a 300-seat comedy club in the Crowne Plaza Hotel in downtown Phoenix, the first of several such ventures the New Jersey-based entertainment company is planning with other hoteliers.

GILBERT, AZ-Catalytica Energy Systems of Mountain View, CA has inked the final signature for a 44,000-sf, under-construction project in Fiesta Tech Centre. The energy products manufacturer is taking practically all of the industrial building.

PHOENIX-Two private investors from Oregon got just what they wanted for a 20-unit complex in Central Phoenix--within 24 hours of listing the property. It's a sign, say brokers, that the market is hotter than a few months ago.

PHOENIX-A nuclear medicine manufacturer has signed for a 7,000-sf R&D-flex spot in one of the Valley's hotspots for office and industrial growth. Building owner Panattoni is putting out the welcome mat for Nycomed Amersham.