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ORANGE COUNTY, CA-A computer-training school and a communications company sign pacts worth a combined $4.1 million at Pacific Corporate Park. Brokers say the area, with a 16% vacancy office rate, appears to be strengthening.
DENVER-Concerns over an anti-growth amendment on the ballot prompted a rush of permits to be pulled last year, but the measure's defeat means many developers got ahead of themselves, says one multifamily broker.
BERLIN- Commerz Grundbesitz Invest, one of Germany's largest investment groups, is to launch a DM1 billion ($560 million) fund targeted at institutional investors.
EDEN PRAIRIE, MN-The food wholesaler and retailer will accelerate growth of its Save-A-Lot chain, adding up 120 new stores this year. It also is upgrading stores throughout its Cub superstore chain in Illinois and Wisconsin.
HOPKINGTON, MA-EMC Corp., the data storage equipment maker, lays off 1,100 people due to a reduced growth rate. The company is in the process of a number of building projects in the state which, according to company officials, will continue for now.
HOUSTON-PM Realty has snagged a 769,805-sf management portfolio for the Praedium Group LP. The PM team consists of Mike Nelson, Rhonda Huff, Mike Hackett and Mike Adams, who plan to focus on exceeding Praedium's exit strategy goals.
TENAFLY, NJ-The recently renovated 119-room corporate hotel, owned by Concord Hospitality, is the beneficiary of a package arranged by RockBridge Capital. The funding will buy an existing first mortgage.
LOS ANGELES-The insurance and financial-services giant signs five-year, $2.8-million lease for 15,092 sf at Wilshire Landmark II office project and will relocate from its longtime home in the Westside's Trident Center.
CHICAGO-The Toronto-based property owner closes on the 16-story, 372,000-sf West Loop office building, the fifth it now owns in the popular submarket. TrizecHahn's holdings include Sears Tower.
AUSTIN-A Germany-based company has set up shop in the Continental Building along Burnet Road. Austin's high-flying, high-tech environment sparks the decision for Tuxia, which also has an office in Bloomfield, NY. Next stop is the Silicon Valley.