Development

ATLANTA-Post Properties and the New York State Common Retirement Fund put the finishing touches on a $75 million joint venture to develop Post's first apartment complex venture in Southern California.

PORTLAND-A legal dispute over the city's systems development charges related to Downtown's newest office tower is settled with developer Tom Moyer receiving a $123,326 refund.

WASHINGTON, DC-The Service Employees International Union (SEIU) says Boston Properties' collection of undeveloped land has grown at a potentially hazardous pace. SEIU's Boston Properties Watch--the union's information service that operates independently of the REIT--reports that Boston Properties' land bank has increased by 45% over the last 18 months.

ALAMEDA, CA- The City of Alameda had originally allotted a $2.9 million budget for the project, but the full job will cost double this amount. The work will be completed in three phases.

BIRMINGHAM-United Bank of Kuwait has agreed to forward-fund an office 24,000-sf building on Development Securities' Birmingham International Park just as a serviced office provider agrees to lease it.

ORLANDO-Lowe's Cos. Inc. of Wilkesboro, NC and Wal-Mart Stores Inc. of Bentonville, AR are scouting the local market for a 150-acre-plus site to build a one million-sf to two million-sf distribution center, land brokers intimate with the search tell GlobeSt.com

ST. PAUL-After looking elsewhere in the Twin Cities, the public radio network will buy a nearby building and connect it to its current headquarters creating a new 150,000-sf complex.

MOUNT LAUREL, NJ-The township wants to bolster its non-commercial uses and has hired a top engineering firm to analyze the situation and make recommendations.