KANSAS CITY, NORTH- B.A. Karbank & Co. leases second of twin buildings to Penske Logistics. Construction to begin on additional buildings.

TEWKSBURY, MA-The private real estate investment company plans to add 300,000 sf of office/flex space to the eight-building complex, which is located in one of the state's hottest office markets.

LOS ANGELESInstitutional real estate investment giant CB Richard Ellis has completed capitalization of a fund involving 16 investors. Although 70% of fund's capital is already tied up, it still has $220 to spend and is looking for investment opportunities in Los Angeles, San Francisco and Chicago.

CHICAGO-Investment SVP at the city's largest industrial developer sees problems ahead for telecom hotels as the telecommunications industry finds it harder to raise money for network expansions. The industrial REIT is scouting major sites locally for Exodus Communications.