GlobeSt. Topics - West

Impact of Job Cuts Varies Throughout Region
LOS ANGELES-The latest round of financial industry job cuts may hurt L.A. less than other regions, and Orange County may already have absorbed its worst blow.

Studley’s Valley Office Deemed 'Green'
SAN FRANCISCO-Reductions in paper, bottled water and power use earn it recognition from Santa Clara County.

Atherton Lines Up Buyer for 4,000-Unit Portfolio
IRVINE, CA-Atherton-Newport Investments, in Ch. 11 bankruptcy, cuts a tentative deal with Portland, OR-based Guardian Management for the sale of its interest in the apartment portfolio.

Dubai World Gains OK to Up Stake in MGM Mirage
LAS VEGAS-The plan, approved Thursday by the Nevada Gaming Commission, allows the investment arm of Dubai to more than double its stake in MGM Mirage.

New Grubb & Ellis Unit Targets Troubled Assets
SANTA ANA, CA-The company creates a Financial Services Asset Management Practice to serve financial institutions, special servicers and government agencies with troubled assets.

City of Rocklin OKs Opus West Office Project
SAN FRANCISCO-The project, on 20 acres of the 3,500-acre Stanford Ranch master-planned community, will include three office buildings totaling 360,000 square feet.

Loveman: Sea Change for Casino Companies
LAS VEGAS-The top dog at Harrah’s Entertainment says the days of spending capital 'like drunken sailors' are over while another industry exec predicts no new cranes for several years.

Sluggish Port Activity Weighs on Industrial
LONG BEACH, CA-Los Angeles and Orange County industrial markets are both posting negative net absorption in the third quarter, and the twin ports of LA and Long Beach are suffering from a slowdown in container volume.

REIT Execs Tackle Economy, Market Issues
SAN DIEGO-Nareit officials examine the impact of the economic downturn and the credit crunch at the group's annual fall conference.

MGM Mirage to Anchor $4B Development in Vietnam
LAS VEGAS-A $4.2-billion integrated beachfront resort project by a Canada-based company will begin with an 1,100-room resort to be operated by MGM Mirage.

Mission West JV Sells Pair of R&D Buildings
SAN FRANCISCO-A 50-50 partnership that includes the Cupertino, CA-based REIT sells 311,000 square feet in Morgan Hill, CA, for $65 million.

Colliers Parrish Turns Two Offices into One
SAN FRANCISCO-The new office, in Redwood City, combines the firm’s Foster City and Palo Alto offices.

FDIC Leases 200,000 SF at Irvine Co. Project
IRVINE, CA-The government agency signs a three-year deal for an office at the new 40 Pacifica building to manage receiverships and to liquidate assets.

CBRE Launches Unit to Service Distressed Assets
LOS ANGELES-The company's new Restructuring Services Group brings together under one umbrella the full range of CBRE capabilities for servicing distressed commercial real estate.

'Substantial Doubt' About LV Sands Gone
LAS VEGAS-The casino-resort company’s successful capital raise and development cutback allows it independent accounting firm to amend its statement about the company’s wherewithal.


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