SACRAMENTO-The California Land Reuse and Revitalization Act of 2004 provides developers with the assurance that the state will not sue a party who follows the statute's procedures. Previously, developers had to negotiate with agencies on a project-by-project basis.

PORTLAND-Looking to cut its losses and save on rent, the Portland Development Commission relocated to an historic seven-story building, which it master leased in 2001 and tried unsuccessfully to fill with creative services firms.

SEOUL-For the equivilent of $83.6 million, the German fund management company acquires a 435,000-sf class A office and retail building in the eastern part of Yeouido, one of the city's three main districts.

SAN LEANDRO, CA-The five-year lease expands the area operations of American Packaging from 78,000 sf to 100,000 sf and takes the 267,000-sf San Leandro Business Park to 100% occupancy.

BELLEVUE, WA-The Portland, OR-based real estate company acquires the Plaza 520 Business Park from its developer, Peter Jouflas, who previously sold Harsch a retail development. The 130,000-sf development is approximately 80% leased.

LAS VEGAS-Harrah's Entertainment and Caesars Entertainment agree to sell four casinos--Harrah's East Chicago, Harrah's Tunica, Atlantic City Hilton and Bally's Tunica--to an affiliate of Colony Capital LLC for more than $1.2 billion.

SEATTLE-The locally based real estate company is taking equity out of its Downtown office holdings and looking to diversify into other sectors, including medical office properties. It expects to close on its first medical office acquisition next month.

TIGARD, OR-The provider of payment processing solutions for nonprofit organizations leases about 14,000 sf in the five-story building from Cadence Design Systems. Cadence has a master lease for 90,000 sf of the 121,000-sf building but only occupies about 11,000 sf.