RANCHO MIRAGE, CA-Starwood Hotels & Resorts Worldwide Inc. opens a new property called the Westin Mission Hills Resort & Villas next to the existing Westin Mission Hills Resort.

TARRYTOWN, NY-DLC Management Corp. has acquired Olde Towne Plaza, a 288,000-sf strip regional power center in Ballwin, Mo. from Regency Centers of Jacksonville, Fla. for $32.3 million, globest.com has learned.

LOS ANGELES, CA-The 121,000-sf transaction is the largest law firm lease in L.A. County this year, according to Insignia/ESG, which represented tenant Quinn Emanuel Urquhart Oliver & Hedges in the 10-year, $15 million deal.

AUSTIN-Austin layoffs hit 22,000 and construction spending dropped for the first time since 1989. Senior economist Keith Phillips tells the Greater Austin Chamber that the gloom and doom should ease in the second half of next year.