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THE WOODLANDS, TX-Tomorrow heralds a landmark groundbreaking for Chevron Phillips Chemical Co. The eight-acre Woodlands site, upon completion, will bring the consolidation of 600 office workers in Texas, Colorado and Oklahoma.

MINNEAPOLIS-Goldner Hawn Johnson & Morrison, Inc. along with BancBoston Capital plan to grow Bakers Square and Village Inn family style restaurants in the Rocky Mountain region, upper Midwest, California, Arizona and Florida.

FT. WORTH-Crescent's $970-million refinancing didn't bolster its S&P rating, but it did pull it out from under a negative watch. Crescent also got balance sheet flexibility, access to new lenders and lower borrowing costs with the freshly sealed deal.

AUSTIN-Yusen Air & Sea USA had been under the gun to find space quickly. The deal closed quickly and the 22,500-sf spot is ideal, allowing ample room for expansion. Yusen starts moving in next week to Rutland 2 in the north central submarket.

AUSTIN-Lincoln Property Co. is tackling its first warehouse project in Vista Business Park. Lincoln Vista, situated on 16 acres, is a three-building, 257,600-sf project that's all spec. But leasing talks are in various stages with multiple prospects.

AUSTIN-A fact-finding team from Portugal has come and gone, but will be back in July. The team is courting semiconductor trade for its country. Metro Austin has the US' second-largest concentration of industry employers and a workforce exceeding 33,300.

ATLANTA-Effective rates for new leases rose just 2.8% during the first quarter, according to the Dallas-based M/PF's newest analysis. Previous annual rent growth had hovered between 4% and 5% from late 1998 through early 2000, before heading downward in recent months.

SAN FRANCISCO-Kent Swig is facing a $20-million default on his much delayed luxury high-rise planned for Second and Natomas streets, but local experts say the development will likely be built despite his financial difficulties.