SAN FRANCISCO-Despite a surprise cut in interest rates this week, economist Kenneth Rosen warns the chance of a US recession remain high. The commercial real estate market likely will bounce back unscarred, however, concludes Rosen.

SACRAMENTO, CA-On the heels of the Public Utilities Commission's unanimous approval yesterday that results in higher electric bills, the California Energy Commission has approved new regulations that will make homes even more energy-efficient.

OAKLAND-Four firms were awarded a $42.6 million master architect and design contract that will add a consolidated two-level terminal complex with a double-decked roadway, a multi-level parking garage and 12 additional gates.

OAKLAND-The $48-million, 282-unit luxury apartment complex is Legacy's nod to

SAN FRANCISCO-The merger between Terranomics and Epsteen & Associates creates the Bay Area's largest real estate brokerage. Epsteen employees will now work out of Terranomics' San Francisco office.

SAN MATEO, CA-The locally-based REIT closes its sale of 37 multi-family communities that was announced in September. The transaction--priced at $400 million--transforms Glenborough into an office and industrial REIT with a portfolio of 88 properties totaling 14 million sf.

SAN FRANCISCO-The locally-based company is in the high-tech metals extraction and separation business. Its technology is capable of converting hazardous liabilities into non-hazardous, profitable assets through the large-scale processing of industrial wastes.

ALAMEDA, CA-The Park Street Business Association was reportedly willing to accept a 60-foot height limit to accommodate preservationists concerns while still making it easier for developers to consider a Park Street site.