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AUSTIN-Angelos Angelou has very seldom been forced to take another look at the Austin economy beyond his annual January forecast. This year is one of those times. The well-known economist's revised forecast comes July 25.

ORANGE COUNTY, CA-An environmental group says Irvine's City Council failed to properly evaluate impact of Irvine Co.'s plan to build 10.2 million sf of office and biotech space on land previously zoned for agricultural and industrial use.

INDIANAPOLIS-A nine-building industrial portfolio here, primarily in the premier Park 100 Industrial Park, is sold to Times Square Real Estate Investors. The seller, a REIT, had been seeking $74.4 million.

CHANDLER, AZ-A single-tenant retail building has commanded $244 per sf in a $1.22-million sale between a California investment trust and developer. The 5,000-sf store at 1072 W. Chandler Blvd. is leased to 3 Day Blinds.

TACOMA, WA-With dramatic changes in the real estate market since the dot-com bomb began flooding the office market, Opus Northwest has shifted its focus for Phase I of its proposed Pacific Steps project to hospitality and retail.

FORT LAUDERDALE, FL-The developer of the estimated $40 million, 126-unit, 23-story L'Ambiance Beach condominium project signs seasoned condo developers Howard Wolofsky, Sam Richter and Robert Burstein to complete the under-construction venture at 4240 Galt Ocean Drive.

PFLUGERVILLE, TX-Terrabrook has kicked off the first phase to a master-planned, mixed-use community. Neighborhood retail mixed in with single-family dwellings will come out of the ground on the 700-acre project.

ANAHEIM, CA-The fast food chain, which consists of 125 restaurants, has been sold by locally based CKE Restaurants Inc. for more than $72 million. CKE has slowly been shedding its assets since November 1999, in order to raise cash to pay off its debts.