NEW YORK CITY-The San Francisco-based firm takes over the long-term leasehold on the 32-story office tower over the Post Office building at 45th Street and Lexington Avenue. Seller is Royal Dutch Shell Pension Fund.

CAMBRIDGE, MA-Harvard University abandons its plan to build an art museum on its two-acre site right near the Charles River. Local opposition to the plan convinced the university to propose student housing for the site instead.

SAN DIEGO-Torrance-based Bachem Inc. sells a 17,700-sf building at 6868 Nancy Ridge Dr. for about $2.4 million. The building will be renovated and suites will be built for biotech use and research.

LOS ANGELES, CA-The L.A.-based Kor Group taps Taisei Construction of Cypress, Calif. to convert a 53-year-old, 13-story office tower to 322 apartment units, part of a continuing trend Downtown.