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DENVER-Archstone Communities is buying $50 million of stock from Security Capital. The seller wants more flexibility, a feat being accomplished by selling interests in 18 companies, Archstone among them.

COSTA MESA, CA-An architectural firm is already occupying a building it purchased for $1.132 million. Arthur Murray Dance Studio has purchased a building and plans to open a new dance studio there this summer.

HOUSTON-Construction crews have descended on a 1.4-million sf project site that's taken three years to break ground. It's the largest investment office to be built Downtown in 20 years. Reliant Resources is grabbing 525,000 sf for the lead spot.

FULLERTON, CA-The new owner of a $19.4-million business park, The Clifford Companies, plans to sell off each the complex's five buildings separately.

BEAVERTON, OR-Bankruptcy Judge Trish Brown declined last week to approve the city and Enron's $2.3-million reorganization plan for the stalled downtown redevelopment project, raising speculation that creditors may force the project into liquidation.

BALTIMORE, MD-Comcast, which recently purchased Jones Cable, signed lease for 45,240 sf lease for space at MIE's I-97 Business Park. The company plans to consolidate some Jones Cable offices into a single facility.

WASHINGTON, DC-Dipping consumer confidence has led most retail real estate companies to lower expectations this year, but an analyst says because of long-term leases, most are somewhat buffered by lagging retail sales.

PHOENIX-In a sign of things of ever-increasing sophistication, an Indian Community near Phoenix has opened a 146-room resort. The new hotel is being managed and promoted by Harrah's.