Globest Sectors

POWAY, CA-An $11-million, 80,878-sf deal closes at the Parkway Centre Five Business Park along with a $7-million, 37,627-sf deal at the Parkway Tech Center close. The lessees are Remec Inc. and GenRad Inc., respectively.

PORTLAND-A legal dispute over the city's systems development charges related to Downtown's newest office tower is settled with developer Tom Moyer receiving a $123,326 refund.

WASHINGTON, DC-The Service Employees International Union (SEIU) says Boston Properties' collection of undeveloped land has grown at a potentially hazardous pace. SEIU's Boston Properties Watch--the union's information service that operates independently of the REIT--reports that Boston Properties' land bank has increased by 45% over the last 18 months.

ALAMEDA, CA- The City of Alameda had originally allotted a $2.9 million budget for the project, but the full job will cost double this amount. The work will be completed in three phases.

ATLANTA-With a $33.5 million bid, Empire won out over 25 competitors for the 21-year-old, 608-unit, 90%-leased Northridge Lake Apartments in suburban Dunwoody/Sandy Springs.

BURBANK, CA-Investment banker L.J. Melody arranges package from Principal Capital for Menlo's Burbank Empire Center office complex. The development will open next spring.

SAN FRANCISCO-Michael Huaco brings 15 years of corporate real estate experience to Insignia/ESG, where he will focus on establishing new corporate real estate relationship with the Bay Area's major firms.

HOUSTON-Middle East Travel holds firm to a 4,122-sf office at Richmond Plaza I in Houston's Westchase submarket. The renewal keeps the 176,000-sf, class B property at 90% occupancy for building owner, BMS Management of New York City.