PHOENIX—Marbella Ranch Limited Partnership has closed on 352 acres on the southwest corner of El Mirage and Northern Avenue in Maricopa County. The Scottsdale-based homebuilder purchased the property for $11.7 million from El Paso Natural Gas Company, LLC, an affiliate of Kinder Morgan.

PHOENIX—The Phoenix multifamily market has been on the upswing for some time. And in the midst of all this activity, real estate experts have identified a renaissance where many of Phoenix's existing, and sometimes much older, apartment communities are concerned as one of the driving forces in the Valley's multifamily market. GlobeSt.com caught up with CBRE's Brian Smuckler to discuss this trend.

PHOENIX—CBRE has completed a 20,000-square-foot office lease at Element at Kierland located at 14614 N. Kierland Blvd. in Scottsdale. The tenant is Scottsdale-based SheKnows.

PHOENIX—The mortgage industry is facing new regulations affecting the real estate market post-recession. GlobeSt.com recently caught up with Chuck Matthews, responsible for leading the strategic direction for WGM Associates, a Scottsdale-based technology company that helps real estate related businesses like title companies, to discuss these changes and how they affect the industry.

PHOENIX—Cushman & Wakefield of Arizona, Inc. negotiated a lease for Clean Energy Contractors, relocating the electrical contracting company to 1888 E. Broadway Rd. in Tempe.

PHOENIX—Cassidy Turley announces the sale of The Village at Gateway Pavilions, a 240-unit apartment community located at 1700 N. 103rd Ave. in Avondale.

PHOENIX—Cassidy Turley announces the sale of Superstition Commerce Park, a 15.97-acre industrial project west of the northwest corner of U.S. Highway 60 and Sossaman Road. Phoenix-based Verde Investments, Inc. purchased the property for $8.8 million from Delta SCP, LLC.

PHOENIX—A 66,429-square-foot industrial warehouse at 4346 E. Elwood St. in Phoenix has sold. The seller was Elwood HA, LLC (Hewson Co.) of Phoenix; the buyer was Cohen Asset Management of Los Angeles.