MONTEREY, CA-Hyatt Regency Monterey begins working on a $20 million renovation project that will revamp all 575 guest rooms and public amenities, as well as add a spa and health center to the mix.

CHICAGO-Polk Street Station at 732 S. Financial Pl. sells for $21.9 million, or $158,696 per unit, while the $5.9-million sale of 1338-54 W, Argyle Ave. represents a price of $126 per sf, a high-water mark for the Uptown neighborhood.

ATLANTA-Billy Mitchell relinquishes his chief executive title at the locally based broker/developer firm. Bob Peterson, who joined as an executive vice president last May, assumes that title and the presidency. Tom Senkbeil, current president and chief operating officer, resigns.

WHITE PLAINS-Commercial brokers in the northern suburbs of New York City are facing a paradox at the moment. Those involved in office leasing are seeing a slowdown in demand. However, they report that investors have an almost insatiable appetite for commercial product.