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WEST DUNDEE, IL-Former McShane Corp. president Michael W. Luecht forms ML Capital Ventures LLC in this northwest suburb of Chicago. Luecht's new company will focus on investment and development in Illinois and Texas.

ALBANY-New York State Governor George Pataki reports that the state plans to acquire Schunnemunk Mountain from the Open Space Institute in the towns of Cornwall, Woodbury and Blooming Grove.

NEW YORK CITY-Net outflows for mutual funds dedicated to real estate amounted to $11 million for the week ending Feb. 28, but fund assets grew, albeit slightly, to $10.5 billion, due to price appreciation.

BOSTON-City mayor Thomas M. Menino develops a program aimed at keeping local industrial manufacturers in the city. The program will provide these businesses with help in modernizing and expanding their facilities.

LOS ANGELES-Exiting dot-coms on LA's Westside are subletting space, creating competition for building owners. This may cause rents in that pricey market to stabilize.

SAN DIEGO-Phogenix Imaging LLC, a joint venture between Eastman Kodak and Hewlett-Packard, has moved into 65,000 sf in Rancho Bernardo.

PORTLAND-The Oregon office of CRESA Partners national corporate real estate advisory firm recently completed its move from Lake Oswego and hired as director Jon B. Lebre, most recently research services director for Cushman & Wakefield's Portland office.

CHICAGO- Trammell Crow Co. vice president Thomas G. Barbera completes seven industrial leases totaling 465,112 sf here and in west suburban Bensenville and Itasca. Four of them were in the Bensenville Industrial Park.