HOUSTON-A seasoned vet in Houston says the near term outlook isn't very promising. New construction and slow job growth will pressure rent as will a new law that forces upgrades if water costs are going to be passed to tenants.

BOSTON-In what the Boston Redevelopment Authority terms a "friendly" action, the city agency is taking over the seven-story Modern Theater. The seizure is part of an effort by City Mayor Thomas Menino to revitalize the three decaying theaters on Lower Washington Street.

WACO, TX-Wal-Mart unveils plans to break ground in the spring on a 202,000-sf returns processing center to service five states. Just like the 305,000-sf project for Tractor Supply, Wal-Mart has picked a spot in Waco's 1,800-acre industrial park.

NEW YORK CITY-The broker formerly known as Morton G. Thalhimer may, like the rock star, revert to its original name. The Richmond-based firm that became Insignia/Thalhimer last year and I/ESG have severed their year-long relationship. Sources say there were "philosophical differences.