PHOENIX-The resort owner will pay a dividend of 10 cents, marking the third consecutive payout. The dividend is payable Oct. 10 to qualified shareholders. The last earnings report reflected income of $1.5 million.

SCOTTSDALE, AZ-The North Scottsdale Corporate Center will be Opus West's largest office project in the six-state region. The 34-acre development gets under way with a 150,000-sf, four-story building in an office submarket that's tripled in size in three years.

LONDON, ONTARIO-Two investment groups are in negotiations to purchase General Motors' locomotive plant in Ontario. A source close to the negotiations said that while there are "serious" discussions underway, no timeline has been established.

TUCSON-A Phoenix-area couple takes title to a building along South 6th Avenue that's been leased to the Social Security Administration for the last seven years. The broker says the upside lies in the lease renewal opportunity.

PHOENIX-Demand for office space in the greater Phoenix area reaches levels not seen since 2000, a new study says. Absorption hovered at 400,000 sf to put overall vacancy at 20.5%, marking the third consecutive decline.

LANSING, MI-Donald E. Jakeway has been named the president and CEO of the Michigan Economic Development Corp. Previously with Growth Partnership in Toledo, he helped to create more than 3,800 new jobs and spur more than $1.1 billion in private investment and hopes are he'll do the same for Michigan.

TROY, MI-iCap Realty Advisors has announced several loan closings from its Troy office including a construction loan for a 27,000-sf single-tenant industrial building in Zilwaukee, MI and a first mortgage loan on a seven-story, 77,000 gross sf office building in Ann Arbor, MI.

GILBERT, AZ-Maly Commercial Realty leverages the 10-year loan with a 10,000-sf retail center in Gilbert. Dallas-based Metropolitan Capital Advisors marks its first Arizona transaction with the Lehman Brothers financing.