PORTLAND-The publicly traded company hires Coby Holley away from CB Richard Ellis to direct its commercial real estate operations in the Pacific Northwest. Holley was managing director of Insignia/ESG prior to the company's merger with CBRE.

JENKINTOWN, PA-Locally based American Financial Realty Trust says it has completed two long-term lease agreements with tenants for a combined 53,000 sf and has agreed to sell a 26,000-sf office property for $3.4 million.

MILL CREEK, WA-A 23-acre effort to create a Downtown in this Seattle suburb is attracting interest from retailers, according to a broker involved in a big piece of the development.

VANCOUVER, WA-The developer of the 11-story office, condominium and retail building here expects its first tenant to occupy it in March. No leases have yet been signed for the 110,000 sf of office space, but negotiations are under way for 40% of the space.

SAN FRANCISCO-Newport Capital Advisors hires Grubb & Ellis to flip 44 properties spread all over California that it is acquiring from State Farm Automobile Insurance.

SAN FRANCISCO-The changes are part of the restructuring of the company's business operations to allow the company to operate as a REIT effective Jan. 1, 2004.

STUTTGART, GERMANY-Rhenus AG & Co. KG, a third party logistics provider agrees to lease a 129,780-sf facility here because it is located near a DaimlerChrysler production plant in the city of Rastatt.

NEWTOWN SQUARE, PA-The acquisition includes more than 3,500 units of family housing at Fort Carson in Colorado Springs, CO, and Fort Eustis and Fort Story, both located in the Tidewater, VA area.