Plan to redevelop Fargo building submitted to BRA

Liffey 451 LLC has proposed to redevelop the nine-story Fargo Building, a half-vacant, three-building former US Army structure at 451 D St. near the Boston Convention & Exhibition Center. It would create 263 residential condominium units from office and commercial space, with 18,000 square feet of retail space on the first floor. The plan submitted to the Boston Redevelopment Authority proposes adding 3 1/2 floors, including a mezzanine in penthouse units on the west side of the buildings, which are about 90 years old. The architect is Bargmann Hendrie + Archetype Inc. of Boston. If the plan is approved, building height would increase from 120 feet to 168 feet. There would be 444 parking spaces, 164 of them in a garage in the building and the rest on a surface parking lot. (Thomas C. Palmer Jr.)

FDA extends by 3 months review of drug treatment

Genzyme Corp. said US regulators have extended by three months their review of the biotech's Myozyme treatment for the rare genetic disorder Pompe disease. The Food and Drug Administration needs more time to review information Genzyme submitted last month at the agency's request, the Cambridge company said. Myozyme would be the first treatment for a condition that occurs in about 1 out of 40,000 births. (Bloomberg)

Acquisition of 6 Sports Club properties completed

Real estate developer Millennium Partners has completed the $80 million acquisition of six luxury health clubs from the Sports Club Co., including the Sports Club/LA in the Ritz-Carlton Hotel & Towers, Boston Common, a property that Millennium developed. Five clubs in the transaction are located in luxury mixed-use complexes that Millennium has developed around the country. Other clubs in the transaction are in New York, San Francisco, Miami, and Washington, D.C. (Chris Reidy)

Developers of Waterside Place might add partner

The Drew Co. of Boston and Urban Retail Properties Co. of Chicago may soon have a new partner in Waterside Place, a planned mixed-used development to be built on land and air rights owned by the Massachusetts Port Authority on the South Boston Waterfront. The developers are negotiating with Vornado Realty Trust of New York, an investment and management firm with a portfolio of 87 million square feet, to share ownership. If an agreement is concluded in the next few weeks, as expected, Urban Retail, which develops and manages property, would continue to be an adviser, and Vornado would join John E. Drew, president of Drew Co., and others as equity partners in the project. (Thomas C. Palmer Jr.)

MetaWorks purchased by Maryland company

MetaWorks Inc., a Medford company that helps drug, device, and healthcare firms develop and commercialize their products, was acquired by United BioSource Corp., the Bethesda, Md., firm said. Privately held MetaWorks reviews and analyzes clinical trial data and maintains MetaHub, a proprietary database, to warehouse the information. Its headquarters will remain in Medford. Terms of the deal were not disclosed. Metaworks, which has 30 employees and reports $10 million in annual revenue, said it expects to double its workforce and revenue by year-end. (DiedtraHenderson)

THE NATION
Berkshire Hathaway plans to buy Business Wire

Berkshire Hathaway Inc., billionaire Warren Buffett's investment company, said it was buying Business Wire, a privately held distributor of press releases, for an undisclosed amount. Business Wire will operate as a wholly owned subsidiary of Berkshire Hathaway, whose other holdings include the insurer Geico Corp. as well as stakes in American Express Co., Anheuser-Busch Cos., and Coca-Cola Co. The deal is expected to close in the first quarter. (AP)

Industrial production rises 0.6 percent in December

The nation's industrial output posted a solid increase in December as recovery in production of Gulf Coast oil and gas wells offset a slump in auto manufacturing. The Federal Reserve reported that production at the nation's factories, mines, and utilities rose by 0.6 percent last month following gains of 0.8 percent in November and 1.0 percent in October. The three strong months represented a recovery in industrial production following a 1.3 percent plunge in September that reflected widespread shutdowns of oil wells, refineries, and chemical production following Hurricane Katrina. For December, manufacturing output edged up a modest 0.2 percent following a 0.4 percent gain in November. The weakness came in production of autos and auto parts, which fell for a third straight month. (AP)