GLENDALE, AZ-Cleats Inc. signs a five-year lease for 8,493 sf in the Arrowhead Plaza after 18 months of subleasing the retail space from CVS Pharmacy. The deal has a $450,000 payout over the term.

PHOENIX-Two apartment complexes in the Camelback Corridor sell to investors looking for long-term holds of high-occupancy properties. The 28-unit Hyde Park passes to a Mesa trust and the 31-unit Sunny Palms rolls to a private investor from the same city.

SCOTTSDALE, AZ-The Denver seller banks a $1.3-million gain after a three-year hold of the North Scottsdale Gateway, getting $358 per sf from a Mesa limited liability company. A loan assumption is offset by a fully leased center with national-name tenants.

PHOENIX-A Canadian pension fund adviser makes a slam dunk with a February acquisition of a 14-building McDowell West Business Park. To date, eight have been sold to separate buyers and three are in escrow. $3.7 million

PHOENIX-The Glenwood Terrace trades for slightly more than $1.3 million, going to a Santa Ana, CA buyer with 1031 Exchange funds to spend. The investor beats 14 others by placing an offer $20,000 more than the ask.

SCOTTSDALE, AZ-GDA Real Estate Services, armed with 1031 Exchange funds to spend, zooms in on Scottsdale and walks away with the 94,719-sf Northsight Village. The 97%-occupied asset, built three years ago, has no lease rolls until 2007.

PHOENIX-Low interest rates and equity ownership prove convince a cabinet and fixtures manufacturer to lay out $2.2 million for a 38,116-sf warehouse near Sky Harbor. The buyer saves about $2,000 per month versus its cost to lease.

CHANDLER, AZ-Banner Health Systems lines up a distribution center near the intersection of Interstate 10 and Loop 202. The industrial space goes for about 60 cents per sf. Move-in will wrap up in a week.