REDMOND, WA-The San Francisco-based buyer pays a total of $38.5 million for Clarion Partners’ 106,281-square-foot office here.

IRVINE, CA-GlobeSt.com exclusively learns that net leased properties like these assets are in high demand as they provide an investor the ability to achieve a stable and passive return on investment with minimal or no management responsibilities.

OAKLAND, CA-The new redevelopment of Foothill Square project here, which will now include a 72,000-square-foot FoodsCo Market-Drug, is expected to provide significant new revenue to the City.

MARINA DEL REY, CA-The 12-building complex here, owned by Jerry Epstein of Del Rey Shores LLC, is expected to open by spring 2013.

LONG BEACH, CA-The 2013 budget includes $104 million in environmental infrastructure projects and other programs aimed at improving air and water quality, and cleaning soil and undersea sediments.

LAS VEGAS-According to the Greater Las Vegas Association of Realtors, home prices in May have increased for the fourth straight month as supply of homes listed for sale continues to shrink.

LACEY, WA-According to Kidder Mathews, preliminary entitlements and improvements are already in place on the site.

DENVER-Local brokerage firms say that Denver office tenants vacancy rates are likely to trend downward for the balance of the year with rental rates for higher-end properties on the rise.