NEW YORK CITY-The weapons technology company is selling off its original Long Island building, a sprawling office and industrial facility situated on a 25-acre parcel. Initial plans are to lease back about a third of the office space to house the firms computer operations unit.

VALHALLLA, NY-The beverage behemoth leases one third of the space at 100 Summit Lake Dr., part of the three-building, 699,051-sf Reckson Summit office complex here.

WHITE PLAINS-The hotel giant puts the 25-property CIGA portfolio on the block and expects to have offers on the table within a month. Deutsche Bank, Jones Lang LaSalle and JP Morgan are advising.

NEW YORK CITY-While retaining his Long Island and Connecticut management duties, 15-year C&W veteran Kenneth Krasnow will take on the task of overseeing business development opportunities here.

NEW YORK CITY-One of the city's largest office condominiums changes management, hiring Grubb & Ellis to replace Jones Lang LaSalle. A value-add strategy designed to improve the property's market position sealed the deal.

NEW YORK CITY-The Manhattan-based REIT buys nearly all the shopping center assets of a Morgan Stanley-owned trust for $354 million in cash and the assumption of $300 million in outstanding debt.

NEW YORK CITY-New hotels opening in Manhattan will benefit from the lack of funding for hotel construction here. But investor interest in the lodging market on a national level is keen, with a recovery predicted for 2003.

NEW YORK CITY-The hotel chain pulls the plug after suitor Columbia Sussex Corp. misses a due diligence deadline. Columbia claims it needed a one-week extension and says the seller is "completely unreasonable.