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SAN FRANCISCO-According to investment analysts, if the BofA Center sells for $1 billion, Shorenstein could take a $500 million cut, giving the real estate investment firm a 33% return on its original $660 million investment.

HOUSTON-Ted Bauer, co-founder of AIM Management Group, is this year's 2001 Houston Metropolitan Study Award recipient. Among his contributions has been a $40-million donation to the University of Houston's Bauer College of Business.

CHULA VISTA-A private investor has purchased a multi-tenant office building in the Eastlake Business Center for $2.13 million.

BOSTON-The Saunders Hotel Group signs a purchase and sale agreement for the former site of the Boston Police Headquarters here. The company will pay $14 million and convert the building into a 200-room hotel.

DENVER-Lockheed Martin has shelled out about $3.7 million for a 464-acre tract positioned in the heart of its 4,700 holding near Waterton Canyon. The acreage is eligible for inclusion on the National Register of Historic Places.

WESTWOOD, MA-Lids Corp., the locally based hat retailer that filed for bankruptcy protection this past January, closes 95 stores, four of them in Massachusetts. Officials say the closures are part of a restructuring effort.

DESCHUTES COUNTY, OR-High Desert Development Partners of Los Altos, CA, is proposing 420 houses, 180 condominiums, a hotel and a conference center as well as two golf courses, tennis courts, swimming pools and equestrian facilities on 640 acres between Bend and Redmond.

VANCOUVER, WA-The locally based company's development chief Mark Perniconi is moving forward with office projects in Vancouver and in Beaverton, retail projects in the Lloyd District and Salem and a mid-rise residential project in the Pearl District.