PORTLAND-Panattoni Development agrees to void its purchase option of 38.85 acres on the northeastern edge of the city in exchange for the right to acquire and develop the property from the Portland Development Commission, the new holder of the purchase option.

GRESHAM, OR-The Torrance, CA-based retail developer and owner of several local shopping malls is expected to announce a major anchor tenant for a new mixed-use development here, and well as the relocation of its headquarters to the project.

PORTLAND-Although slowing now, the value of office properties rose 29% over the last three years, while industrial properties rose 23% and retail properties by 18.8%, says a new report by Integra Realty Resources, a national appraisal and consulting firm.

RENTON, WA-Though the rest of the mall here has been open, the Bon has been closed since the earthquake due to significant damage to its north and south walls. The basement, first and second floors reopened Sunday.

BEAVERTON, OR-Bankruptcy Judge Trish Brown declined last week to approve the city and Enron's $2.3-million reorganization plan for the stalled downtown redevelopment project, raising speculation that creditors may force the project into liquidation.

BELLEVUE, WA-Locally based Laptop Lane Limited, which provides travelers a private office at various airports around the country, was named Best Specialty Retail Brand Operator in the Small Retailer category in Airport Retail News' annual poll of airport concessions.

PORTLAND-Mark A. Carnese has joined his brother Brad at the local Cushman & Wakefield office. Mark is working in the office sector under senior broker Tom Usher, former managing director of the Portland office.

BOISE, ID-Dakota Co. is the managing partner of a group of investors assembling 175 acres on Ten Mile Road at Interstate 84 for an office, retail and housing development. Construction of the complex could begin within two years.