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CHICAGO-The Jackson, MS-based REIT closes on the purchase of 1.07-million-sf 233 N. Michigan Ave. in the East Loop. Deutsche Banc Alex Brown provides a $106-million fixed-rate, non-recourse mortgage at 7.35%.

DENVER-The private national real estate investment and development company takes advantage of historically low interest rates to fix the rate on $200 million in debt at less than 5% for three years.

AUSTIN-The sublease office space is continuing an eight-week upward trend. The good news, says a market watcher, is that the pace has slowed. In the last two weeks, sublease space has grown by 100,000 sf instead of the 300,000-sf average of prior accountings.

SAN FRANCISCO-EOP officials say they plan to hold on to office buildings in its top 20 markets, but will likely dispose of office properties in its bottom 15 markets along with the 12.2-million-sf industrial portfolio it acquired as part of the merger.

ORLANDO-With vacancies up everywhere, only Houston and Orlando brokers expect improvement while Dallas, Austin and Chicago see continued dark clouds overhead, leasing specialists tell GlobeSt.com.

BOSTON-With the recent approval by the state's environmental affairs office helping the proposed runway at Logan Airport here overcome a major hurdle, local activists are stepping up their campaign to stop the runway from being built.

LOS ANGELES-Democrat James K. Hahn is sworn in as leader of America's second-largest city. Some worry he will be too 'pro-development' to pay back the construction unions and builders who backed his campaign.

ATLANTA-The Houston developer and its deep-pockets partner from Fairfield, CT receive the official blessings of DeKalb County officials as dirt turns on construction of the 18 story, 400,000-sf tower scheduled for completion at year end 2002.