Globest Sectors

OCEANSIDE, CA-The planning commission approves site plans for a $1 billion project by a company that will become the city's largest private employer. The long-range plan calls for 14 office and industrial structures on a 60-acre site.

NEW YORK CITY-Alliance termed "a critical step" in GlobeSt.com's campaign to be the primary destination for original and timely commercial real estate-related content on the Internet.

DENVER-More than $150 million is being spent to develop two multifamily complexes with a combined total of over 1,000 units. Jumping on Central Platte Valley's development bandwagon are Denver-based Archstone Communities and Houston-based Greystar Capital.

DENVER-Denver Academy is paying slightly more than $6 million for the 21-acre campus of the former Bethesda Hospital at 4400 E. Iliff Ave. in southeast Denver. The property has been vacant for two years.

NEW YORK CITY-Several New York based companies have backed the creation of new Web-based ventures.

ORANGE COUNTY, CA-After shedding thousands of Southland positions since the 1998 merger, the banking giant will bring some back through consolidation of a key business segment.

PHOENIX-A California partnership acquires 212-lot facility in neighboring Tucson.

CHICAGO- Real estate titan continues to predict massive consolidation for the real estate industry, saying the upcoming changes will be akin to the "oligopolization" of steel and autos early last century. Zell says the two REITs he launched and in which he remains the largest shareholder, Equity Office REIT and Equity Residential REIT, will increasingly focus on offering services to their huge client base. Sees Equity Residential offering insurance and mortgages to renters who are leaving to buy homes.