PORTLAND-The five-story, 38,000-sf building at 1017 SW Washington was built in 1908. The new owners are spending $3 million to gut and renovate the Class B building. Lease rates for office space will be $16/sf on a net basis.

PALO ALTO, CA-Curtis Feeny, managing director and head of Voyager Capital's Palo Alto office--and the former head of TCC's Northwest division--has been named to Trammell Crow's board of directors.

PORTLAND-With $16.5 million in new financing, Serveron, formerly Micromonitors, plans to select a spot in the Sunset Corridor over the next 10 days from which it can grow to 50,000 sf within 18 months and to 150,000 sf over the next few years.

BEAVERTON, OR-The Beaverton School District pays $4.99 million for a 13.84-acre site on Northwest 167th Avenue that includes a 45,000-sf building. The district is also leaning toward condemnation proceedings to acquire 18 acres off Barnes Road.

PORTLAND-The three-story, 20,514-sf office building at 2300 SW First Ave. was auctioned in US District Court Wednesday. The building is one of the assets of Jeffrey Grayson and his company, Capital Consultants, accused of bilking investors of more than $300 million.

PORTLAND-The fee structure was watered down before being passed. The original proposal would have charged $398 a month for 3,890-sf fast-food restaurant to $1,500 a month for the owner of a 500,000-sf office building.

SACRAMENTO-The California Public Employees' Retirement System is plowing $250 million into urban development projects and another $150 million into affordable housing by the end of the year.

PORTLAND-The 17-story, 270,000-sf concrete office tower is named "The Office Building of the Year" locally and regionally in its size category by the Building Owners and Managers Association, but comes up short this week at the nationals in Baltimore.