AUSTIN-Northrop Grumman will occupy 19,000 sf in March in the renovated Chase Park V, a 60,000-sf structure in a five-building complex. The building's first tenant inks a six-year direct lease for the office accommodations.

AUSTIN-A northwest submarket office building lands Ecommission Financial Services and Arbor Property Management as tenants. Arbor takes 4,232 sf and the financial operation, 3,082 sf, in the Colliers Oxford Commercial-structured pacts.

AUSTIN-History doesn't appear poised to repeat itself when it comes to the state opting to buy instead of lease. In fact, it's actually positioning itself for renewals although bids are out on nearly 150,000 sf needed for agency quarters.

AUSTIN-An Austin data center gets credit for being one of the few profitable ones in a portfolio being sold to Cable & Wireless. The ownership changes for 8025 N. Interstate 35 comes via a bankruptcy filing of Exodus Communications.

SAN ANTONIO-The city's largest credit union has secured a southeast corridor location that is being land banked at the juncture of Rigsby Avenue and Loop 410. Security Service Federal Credit Union plans to build on the site, but not for a few years.

AUSTIN-Salion Inc. and ClearCube Technology receive a precious commodity in these economic times, specifically in the high-tech arena. Salion nabs $10 million in second-round funding while ClearCube gets a $4-million credit facility.

AUSTIN-The buy is in, but the move is up in the air for an Austin software company that has been bought by Applied Materials, a semiconductor equipment maker. Global Knowledge Services' offices in the northwest submarket and its buyer, the city's northeast.

GEORGETOWN, TX-The 212-acre Rivery tract gets a green light from Georgetown City Council. The starting gun ends nearly two decades of on again, off again tries to develop the acreage. The full-scale mixed-use project could see its first openings in fall 2003.