BEAVERTON, OR-The seven-year lease by the Oregon-based high-tech security company gets Photon Kinetics, an optical fiber testing equipment maker off the hook for a 46,000-sf building in the business park here that it leased but didn't occupy.

SEATTLE-Valarie Tomey, a 14-year veteran of the local commercial real estate scene, joins Wright Runstad & Co. to assume responsibility for the company's entire portfolio from Carol Thomas, who is retiring after 18 years with the company.

WALNUT CREEK, CA-Office vacancy in the North I-680 Corridor submarket rises for fourth consecutive quarter and now stands at 13%, the highest vacancy rate for the submarket in two years.

MEMPHIS, TN-Host Marriott is unveiling a new 200-room tower here that will give its Memphis Marriott Downtown a total of 600 rooms. The hotel is connected to the Memphis Cook Convention Center and provides all its food and beverage services.

PORTLAND-The locally based telecommunications services company takes 7,790 sf of 34,000 sf that IBM leases at 315 SW 5th Avenue Downtown.

CHATTANOOGA, TN-The locally headquartered shopping center development and management company picks up Greenbrier Mall in Chesapeake, VA, for $107 million, including $4.5 million that was spent to prepay rather than assume the property's existing debt.

BIRMINGHAM, AL-Locally headquartered Medical Properties Trust Inc. completes its private offering of 25.3 million shares that, when leveraged, will enable the company to acquire or develop about $500 million worth of properties.

SAN JOSE, CA-Hitachi Global Storage Technologies proposes that its Cottle Road site be rezoned from all industrial to 148 acres of industrial, 147 acres of commercial and residential and 37 acres of roads and an existing PG&E substation.