PORTLAND-Net absorption in the first quarter 2003 was positive, albeit it only by 142 units. If absorption were to stay positive throughout the year, it would be the first time since 2000, when new construction began to drop off.

MINNEAPOLIS-The 30-story, 929,694-sf office building in Downtown Minneapolis is acquired by Wells Real Estate Investment Trust of Atlanta. US Bancorp occupies 77% of the building on a long-term lease.

TACOMA, WA-Vision One LLC of Auburn, WA plans to develop the units on two sites within a block of each other. Total construction would cost $75 million and the cumulative tax exemption is estimated at about $13 million.

SACRAMENTO-The Newport Beach, CA-based real estate investment and development firm acquires Pacific Gulf Commerce Park with plans to reposition, re-tenant and rename the nine-building property, which is 63% occupied.

HAMMOND, IN-After two years, Great-West Life & Annuity Insurance Company finds a buyer for Woodmar Mall, an aging retail property here that it took back for debt at a sheriff's sale in May 2001.

GRESHAM, OR-San Francisco-based McMorgan & Co. pays $6.7 million or $4.05 per sf for 38 acres here at the intersection of Interstate 84 and Northeast 181st Avenue. The company plans a 650,000-sf industrial park.

CLEVELAND, OH-Calling them non-core assets, the retail REIT sells five free-standing Lowe's, three other free-standing drug stores and three small multi-tenant shopping centers that were acquired in the company's recently completed acquisition of JDN Realty.

TACOMA, WA-Among other things, the Port of Tacoma's heavy industrial zone, which was renamed Port Maritime Industrial, now prohibits many non-industrial uses that were heretofore allowed, such as day care operations and R&D facilities.