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Washington's City Bank slapped with regulatory order Lynnwood-based City Bank on Thursday became the latest Washington financial institution operating under stricter regulatory enforcement. Oakland settles with Chase over foreclosure evictions The City of Oakland said Thursday that it reached a settlement with J.P. Morgan Chase over foreclosure evictions that violated city law. (JPM) Millennium State Bank of Texas fails The Texas Department of Banking on Thursday closed Dallas-based Millennium State Bank of Texas, the first bank failure in Texas this year and the first in the Dallas area in more than a decade. Studley’s Brennan joins Jones Lang LaSalle Studley Executive Vice President Kevin Brennan is leaving to join the tenant brokerage team at Jones Lang LaSalle. TWC expands funds for apprenticeship program The Texas Workforce Commission (TWC) has upped funding for its Apprenticeship Training Program by $1 million, bringing the total amount invested in the program to $2.6 million. Building permits reach 10-month high There were 238 new residential permits issued in the Twin Cities in June. ResCare to build campus in north Wichita Louisville, Ky.-based ResCare, a company that provides support services for people with disabilities, will build a 30,000-square-foot facility in northeast Wichita. Austin office vacancy rises to 21% in Q2 Tough times continue for the local office market. Downtown YMCA to rebuild on current site The Greater Wichita YMCA won’t build a new downtown branch on city-owned property on North Waco Street, the YMCA and city said Thursday. Johns Hopkins, Colliers Pinkard among bankrupt developer Opus East's creditors Johns Hopkins University, Colliers Pinkard and the Greater Baltimore Committee are some of the more high-profile companies listed as creditors in Rockville developer Opus East LLC’s bankuptcy filing. (NOC) Opus West Corp. plans bankruptcy filing Opus Group said it plans to file a bankruptcy petition for its Opus West Corp. subsidiary, which has several projects in North Texas. Foreclosure suit filed against Legends car wash A group of subcontractors who had filed multiple mechanic’s liens in conjunction with work they did for an eastside car wash have now filed a foreclosure suit against the site. Hosting.com relocating to Denver Hosting.com, purchased this spring by HostMySite.com of Denver, is in the process of moving its headquarters from Kentucky to the metro area, the company said Thursday. D.C. area office vacancies reach 12.3% The D.C. area’s commercial real estate market saw a net absorption of negative 726,100 square feet in the second quarter, the third straight quarter of negative absorption, according to Cassidy & Pinkard Colliers. U.S. loses 467,000 jobs, unemployment rate hits 26-year high The U.S. lost 467,000 jobs in June pushing the national unemployment rate to its highest point in 26 years and into double digits for men, teenagers and the working class. Melbourne firm lands part of Army contract BRPH landed a five-year contract by the U.S. Army Corps of Engineers to handle design/build services for an estimated $100 million worth of projects. Opus Northwest siblings file for bankruptcy Opus Corp. said Wednesday its Opus East and Opus West subsidiaries will file for bankruptcy, citing deteriorating conditions in the commercial real estate market. Camber Corp. combines local offices Camber Corp. is consolidating several local offices into one space in Centreville. BioMed refinances Center for Life Science BioMed Realty Trust has landed $350 million in financing for its 700,0000-square-foot Center for Life Science Boston. (BMR) 2 Opus subsidiaries facing bankruptcy Opus Group, a development firm that came to the Columbus area nearly 16 years ago, announced that two of its subsidiaries are facing Chapter 11 bankruptcy. Altamonte Springs site sells for $2.6M A Palm Beach Gardens firm bought a 1-acre site being leased to Fifth Third Bank in Altamonte Springs for $2.6 million. Pacific Office CEO to leave company Pacific Office Properties president and CEO Dallas Lucas is leaving the company at the end of August. 13 swept up in mortgage fraud indictments Thirteen people have been indicted in connection with an alleged $9 million mortgage fraud scheme in Central Ohio, state Attorney General Richard Cordray said Wednesday. Sacramento gets $900,000 for construction training programs Two Sacramento County agencies on Wednesday received $450,000 each in Construction Talent Transfer awards. Opus West files for Chapter 11 bankruptcy Opus West Corp., based in Phoenix, will file for Chapter 11 bankruptcy protection in early July, according to a news release distributed Wednesday by its parent company, Opus Corp. of Minneapolis. Former APG business park developer Opus East to liquidate under Ch. 7 Rockville developer Opus East LLC filed for Chapter 7 bankruptcy Wednesday, less than two weeks after relinquishing its development rights to a massive business park at Aberdeen Proving Ground. (NOC) Hollo closes on purchase of 1101 Brickell Developer Tibor Hollo has paid about $33 million for three prime acres on Brickell Avenue that fetched $70 million in 2005, according to sources familiar with the deal. Aberdeen Asset Management acquires Credit Suisse assets Aberdeen Asset Management Inc., the U.S. subsidiary of a Scottish investment company of the same name, said Wednesday it will add $959 million to its asset management business through its acquisition of certain fund management assets and businesses from Credit Suisse Group AG. Opus East files for Ch. 7 liquidation After struggling for months with liquidity issues, Rockville-based Opus East LLC filed a petition Wednesday for Chapter 7 liquidation in U.S. Bankruptcy Court in Delaware. URA re-releases RFP for Heppenstall site in Lawrenceville The Urban Redevelopment Authority is looking for a new firm to develop new residential properties on what it describes as “the largest residential footprint available in Lawrenceville.” Opus East, West to file for bankruptcy Opus Corp. said Wednesday its Opus East and Opus West subsidiaries will file for bankruptcy in order to "facilitate orderly liquidation of their respective portfolios." Dayton-area housing starts tumble in May The number of home building permits filed in the Dayton area took a sharp drop in May, according to the Home Builders Association of Dayton. McLagan ordered to pay $202K restitution Custom home builder James McLagan is expected to get back in the construction business after at Saratoga County judge decided against sentencing the builder to jail. Samet to construct spec building in Mebane Greensboro-based Samet Corp. is plans to build another speculative building in the North Carolina Industrial Park in Mebane. Finance Manager moves to bigger space Finance Manager, a company that provides finance and human resources software to school districts, has moved into a larger office in Latham, N.Y. Barnes-Jewish Hospital launches $50M campaign for cancer research The Barnes-Jewish Hospital Foundation has launched a 10-year, $50 million fundraising effort to accelerate breakthroughs in cancer prevention, diagnosis, treatment and cures. SmithGroup merges with F&S Partners SmithGroup, which has designed such local landmarks as the Mortgage Bankers Association building in D.C., has merged with Dallas architecture firm F&S Partners. Prudential Tropical Realty turns to Yesner & Boss for legal help With short sales and foreclosures making home buying a bit tricky, 15 Tampa Bay offices of Prudential Tropical Realty have signed an agreement with law firm Yesner & Boss to represent clients of the real estate agency. Hartford Building sells for $71.5 million MRP Realty and Angelo, Gordon & Co. have bought the Hartford Building in Clarendon for $71.5 million. Related’s CityPlace South Tower in 'friendly foreclosure' In what is being termed as a “friendly foreclosure,” The Related Group is handing over control of its new 420-unit CityPlace South Tower in West Palm Beach to a consortium of partners led by Toronto-based Scotia Capital. Copley Square Hotel renovation complete The $17 million renovation of the historic Copley Square Hotel in Boston’s Back Bay has been completed. SBA loan deadline for April storm damage nears Houstonians who have suffered personal and business property damage as a result of the severe storm in late April have until July 14 to apply for a Small Business Administration federal disaster loan. Pasco coup: T. Rowe Price buys land T. Rowe Price paid $13.5 million on Wednesday for a nearly 75-acre site on State Road 54 in Pasco County where it plans to build its Tampa Bay corporate campus that will employ more than 1,500 people. Temple Terrace, Vlass Group agree on downtown redevelopment A marathon session of the Temple Terrace City Council Tuesday evening yielded an agreement with an Atlanta developer that’s being called a giant leap in the city’s eight-year quest to redevelop a blighted downtown. Campbell Soup land purchase figures in Camden office park plans Campbell Soup Co. closed on the purchase of a 1.9-acre parcel that figures in its plans to develop an office park next to its current Camden, N.J., headquarters. (CPB) BoltTech moving to Allegheny County BoltTech is moving from West Newton in Westmoreland County to the property formerly occupied by Precise Technology, a 71,502 square foot building in North Versailles, east of Pittsburgh. Sawbuck scores $2M in financing Sawbuck Realty closed on $2 million in financing led by Dallas-based media company A. H. Belo Corp. Plaza becomes Coldwell Banker franchisee Longtime independent real estate firm Plaza Real Estate Inc. will take up the Coldwell Banker flag starting Wednesday. One Flagler, Platinum face foreclosure Mellon United National Bank filed foreclosure actions against two major developments in Miami: the One Flagler office building and the Platinum Condominium. (BK) Atlanta firm buys Nashville apartments for $28M An Atlanta real estate investment firm has purchase the Gardens at Hillsboro Village — the largest commercial sale of the year so far in Middle Tennessee. Monument defaults on $69.8M Watergate loan Monument Realty has defaulted on a $69.8 million loan on the Watergate Hotel, according to Real Capital Analytics, a New York commercial real estate tracking firm. Bank of the West signs huge Bishop Ranch lease Bank of the West has signed a 240,000-square-foot office lease at Bishop Ranch in San Ramon, a deal that will consolidate about 1,600 employees currently Walnut Creek, Concord and Pacheco. Portland Metro Family YMCA to become AllStar Fitness After more than 32 years, the Portland Metro Family YMCA will become AllStar Fitness, the first Oregon outpost for the upscale Seattle operator. Andrews assumes top PDC board role A long-time Portland economic development advocate was elected to a top city business role. South End condos auctioned off for $12M Thirty-five lofts at a South End condo project were auctioned at deep discounts in under two hours, according to a real estate broker who attended the event. Papa Murphy’s signs lease in Germantown, Tenn. Papa Murphy's Take & Bake Pizza has found its first landing spot in the Memphis area: the Germantown Plaza shopping center. Inter-Cal names new VP leasing The local company that owns a dozen Sacramento-area shopping centers, including The Fountains and Loehmann’s Plaza, has tagged someone new to oversee leasing of all those properties. Dallas Cowboys to get new product hub The Dallas Cowboys football organization is partnering with Dallas-based commercial real estate development firm Bandera Ventures to build a 400,000-square-foot warehouse and production facility that will serve as the merchandising hub for the team. Apt. rents could see double-digit declines Declining apartment occupancy in North Texas has begun to trigger decreases in rent at the same time that Dallas is set to deliver more units than anywhere else in the country, according to apartment market analysts MPF Research. Carl Walker awarded $4.8M contract for Cleveland VA garage Carl Walker Construction. a contractor that specializes in parking structures, was recently awarded a $4.8 million contract to build an addition to a parking garage at the Louis Stokes VA Medical Center in Cleveland. Big Globe union offers survival tips Who says the Boston Newspaper Guild isn’t looking out for its members? End of Aud is finally near The lengthy history of downtown Buffalo’s Memorial Auditorium — now reduced to a sliver of twisted concrete and metal — was given its final farewell. LPS forms real estate group Lender Processing Services Inc. has formed a new real estate division after acquiring FNRES Holdings Inc. Human Capital: People on the move, June 30 A daily roundup of senior-level executive hires and board appointments: Tuesday, June 30, 2009 PRI to acquire South Florida company PRI Productions has acquired the assets of a South Florida event company for an undisclosed amount. Miami Herald land deal extended again The McClatchy Co. (NYSE: MNI) said Tuesday that Citisquare Group, which plans to buy 10 acres next to The Miami Herald for $190 million, has pushed back the deal’s closing date to the end of the year. (MNI) ProLogis sale brings in $561M ProLogis Inc. sold most of its North American portfolio of industrial buildings, which has been marketed for sale since late 2008, in the second quarter for $561 million, the company said Tuesday. (PLD) Court again defines prevailing wage limits Private contractors worried they will need to pay a prevailing wage to construction workers on projects funded with state grants can breathe a sigh of relief. Temple Terrace area land banked for research park development Hillsborough County paid $1 million for 57 acres near the University of South Florida that it intends to bank for future use as a life sciences park. Home price declines slower in April Home prices continued to decline in April, but showed some signs of moderating. (FISV) Haskell, Sauer competing for $250M in military work Two of the five construction companies eligible to tap into up to $250 million worth of military work are from Jacksonville. Rhythm developer latest to sue would-be buyers The Rhythm at Music Row has become the latest new Middle Tennessee condo development to sue buyers who try to back out of their purchases. Local arm of Newmark Homes now Scott Felder Homes Scott Felder Homes LLC has entered into an agreement to purchase a majority of the Austin assets of national homebuilder TOUSA Inc., which operated locally as Newmark Homes. Scott Felder and former TOUSA senior vice president Steve Krasoff will lead Scott Felder Homes. Distributor moves headquarters downtown Stratacache Inc. has moved into its new corporate headquarters in downtown Dayton. Niagara's Choice new site to open Niagara’s Choice Federal Credit Union, the second-largest Niagara County-based credit union, expects to open a new — and much larger — North Tonawanda branch office next week. Tampa group wins $4.2M condo foreclosure A Tampa-based investment group has won a $4.2 million foreclosure judgment against the owner of the Village at West Miami Condominium. Lubavitch Education Center faces foreclosure A Jewish education center in Miami faces foreclosure by Regions Bank. Yahoo! confirms WNY site Months of aggressive pitching and a coordinated economic development approach laid the groundwork for computer industry giant Yahoo! Inc. to decide to build a northeast data center in the Lockport Industrial Park. SIUE goes to court over failed conference center Southern Illinois University-Edwardsville is taking legal action so it can lease out the land where a $7 million project to build a hotel and conference center fell apart. Barden Gale to replace Robert as J.E. Robert Cos. CEO Joe Robert, founder, chairman and CEO of J.E. Robert Cos., is relinquishing his CEO role to Barden Gale, the company announced Monday. More vacant Seattle industrial space expected: Study Industrial space vacancies should rise this year in the Seattle area, due to declining port traffic and increasing unemployment, according to a study released Monday. McIntosh to leave UC College of Business Will McIntosh has resigned as dean of the University of Cincinnati College of Business effective July 1, the university confirmed. McKee tries to ease project concerns with YouTube video Developer Paul McKee Jr. tries to assuage fears and concerns about his proposed $8.1 billion North St. Louis project by posting a video on YouTube. Mid-America launches fund for acquisitions Mid-America Apartment Communities Inc. has created a $250 million acquisition fund, Mid-America Multifamily Fund II LLC, in order to purchase apartment properties over the next 18 months. (MAA) Inmark moves to Avondale from Pinson Inmark Inc. will move its Birmingham facility from Pinson to Avondale Commerce Park, said the company that represented it in the new lease. Cook to manage global R.E. portfolio Jones Lang LaSalle has hired real estate veteran Ellen Cook to oversee it recently won contract to manage Iron Mountain Inc.’s global property portfolio. Real Estate Roundup Office leases • Kaiser Foundation Health Plan leased 17,796 square feet at Murray Scholls Town Center, Beaverton, from Gramor Development. John Medak, MaryKay West and Chris Johnson of NAI Norris, Beggs & Simpson represented the tenant. Steve Reaume and Kristin Hammond of Pacific Real Estate Partners represented the property. Brywood Centre construction will start later in the summer Construction on a project aimed at revitalizing an aging East Side shopping center is scheduled to begin in July or August, owner Tri-Land Properties Inc. said Monday. Hammes plans $100M renovation of Madison's Edgewater Hotel Hammes Co. of Brookfield has unveiled plans for a $100 million redevelopment of Madison's landmark Edgewater Hotel on the shores of Lake Mendota. Opperman elected to TCF board Vance Opperman, the Twin Cities financier and publisher, has gained a seat on TCF Financial Corp.’s board. (TCB) Payment Data Systems seals integration deal Payment Data Systems Inc. has integrated its electronic bill payment service with the Plug’n Pay e-Commerce gateway. The integration with Plug’n Pay, based in Hauppauge, N.Y., gives merchants a single reporting interface for both check and credit-card sales information. Qinetiq wins $39M GSA real estate contract QinetiQ North America subsidiary ITS Corp. has won a contract worth up to $39 million from the General Services Administration to provide a new inventory system to help manage GSA’s real estate. Century III on "Endangered Malls" list Century III Mall, the West Mifflin shopping center that ranks as the Pittsburgh region’s third largest, has achieved the dubious distinction of being named one of America’s most endangered malls by U.S. News & World Report. American Spectrum unit gets deal to manage Stone Mountain properties A subsidiary of Houston real estate company American Spectrum Realty Inc. has been awarded a one-year contract to manage and lease four properties owned by Stone Mountain Properties, also based in Houston. (AQQ) Forestar to sell 20,000 acres for $40M Real estate company Forestar Group Inc. says it will sell 20,000 acres of timberland in Georgia to investor Holland Ware for $39.5 million in cash. (FOR) Zoning regulations tighten around developers Jennifer Adair hopes she never has to see another massive electronic billboard in her neighborhood – and may have gotten her wish. Losses narrow at local banks, yet loans deteriorate Looking only at the improvements in the bottom lines of many South Florida banks in the first quarter, it might seem like local banking turned the corner. Yet, the deterioration of loan quality and the lowering of their reserves show a scenario of continuing strain on their finances. (BBX) City of Clayton evaluates consultant proposals The city of Clayton received 27 responses to its request for proposals to update the central business district master plan and to develop a retail plan for the central business district. Industry exec foresees delayed recovery in commercial market Taking a cue from Ernest Hemingway, Cushman & Wakefield executive Chris Toci titled a recent presentation “The Sun Also Rises.” City’s far West Side still raising the roofs A New York-based firm’s recently announced plan to invest in developing a 2,000-home community on the edge of San Antonio simply reinforces what many in the city’s real estate community already know. Abandoned projects can have a negative effect on the surrounding areas Large-scale Phoenix real estate projects stopped midstream by credit problems offer a daily visual reminder that it could be years before some skylines and neighborhoods look vital again. The Phoenix Business Journal recently looked at some large projects that have remained in limbo for months, if not years. UTMB starts post-Ike building surge The University of Texas Medical Branch in Galveston is embarking on nearly $1.4 billion worth of construction projects that will likely draw the attention of local, regional and national building firms in search of business during the down economy. Few WNY construction cos. see stimulus work A handful of road construction companies are among the first local businesses to win highway repair jobs supported by federal stimulus money. Kansas City's Bolling Federal Building offers a microcosm of how stimulus is put to use Quick, what’s the largest office building in downtown Kansas City? Stimulus project’s splashes ripple through Kansas City-area companies Eric Vogel had seen work slow to a crawl, pushing Custom Lighting Services down to four crews, compared with nine a year and a half ago. Ciba to close operations in High Point The Ciba Specialty Chemicals office in Piedmont Centre, which employs about 100 people, will close next year following its parent company’s acquisition by international chemical company BASF. Gateway picks building team for joint school Samet Corp. will be part of a three-firm joint venture that will lead the construction of the new $50 million Joint School of Nanoscience and Nanoengineering, according to officials with the Gateway University Research Park where the school will be located. Downtown tower owner targets tenants The owners of the former KeyBank Building are taking steps to entice potential tenants into one of Dayton’s most well-known office buildings, and they already have their first new tenant since the building changed hands. Edward Rose & Sons purchases 50 acres for $36 million mixed-use development Edward Rose & Sons, a Michigan-based real estate development and management company, has purchased 49.5 acres near the intersection of Bill Morris Parkway and Forest Hill Irene Road for $4.1 million from Turley L.P., a Dan B. Turley family trust, with plans for a $36 million mixed-use community.

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