[Source: Emily Baker, CoStar Group] — Scottsdale, AZ-based Third and Roosevelt Development LLC purchased 0.61 acres at 408-414 E. Roosevelt St. in Phoenix from Phoenix City Investments for $6.65 million. The buyer has not disclosed plans for development, but the property was purchased as part of an assemblage. It is located in downtown Phoenix, between N. 3rd and N 5th streets and E. Roosevelt and E. Portland streets.