SAN MATEO, CA-The REIT will continue to recycle capital with property purchases and sales and stock repurchases, according to the chief operating officer. Along those lines Glenborough recently leased the entire fourth floor of a new office building downtown here to Merrill Lynch.

SAN FRANCISCO-The Federal Home Loan Bank of San Francisco announced Affordable Housing Program awards that will amount to a total $18.5 million or better in California and other states.

CUPERTINO, CA-Company chairman Carl E. Berg tells GlobeSt.com the new position will help the company develop projects on time and under budget, "and still get the 15% return we traditionally get on our development projects.

ROSEVILLE, CA-SureWest has won the opportunity to provide telecommunications services to the 3,000-acre McClellan Business Park, part of the conversion of the former McClellan Air Force Base by Sacramento County.

SAN FRANCISCO-The women's apparel retailer has taken slightly more than 10% of the 100,000-sf concourse in the Millennium Tower high-rise complex at Market Street and Grant Avenue. The deal's value is estimated at between $3.6 million and $4.6 million.

SACRAMENTO-Grubb & Ellis Company here and the Chicago-base Maritime Trust Company have formed an exclusive consulting agreement with the Port aimed at operations diversification and recruitment of labor-intensive waterway users to this capital city port.

LIVERMORE, CA-Two multi-tenant industrial-office parks encompassing a total of more than 200,000 sf have changed hands over the past two months. The new owners hope to increase NOI by raising rents as tenants rollover in the next few years.

SAN JOSE-Manufacturing and test services provider Paramit Corp. will relocate its headquarters to Madrone Business Park, a new 120-acre development by a partnership of Toeniskoetter & Breeding Inc. and publicly traded Mission West Properties. Some 660,000-sf is currently under construction.