COLUMBUS, OH-A $3.7-million increase in bad debt expense over the fourth quarter of 2000 cuts Glimcher Realty Trust's funds from operations by $0.11 per share. Tenant bankruptcies are a major issue behind a 10% staff reduction.

DETROIT-A rocky economy boosts the amount of empty space in most Southeast Michigan submarkets, Paragon Corporate Realty Services' Matthew Fenster says, but overbuilding has not occurred in this downturn.

GLADSTONE, MI-A current hospital in Iron Mountain, MI will stay open, while another one is planned here for Michigan's Upper Peninsula countryside. Decisions stem from the VA's Capital Asset Realignment for Enhanced Services study.

WARREN, MI- Sennett Steel finds attractive lease rates in a build-to-suit deal on Detroit Arsenal Tank Plant property. The manufacturer will lease from Carpenters' Pension Trust Fund, Detroit and Vicinity.

BLOOMFIELD HILLS, MI-Funds from operations for the retail REIT increase 7.5% for year and 5.1% for the quarter. The Mall at Millenia in Orlando will open later this year while ground will be broken for Stony Point Fashion Park in Richmond, VA.

FARMINGTON HILLS, MI-Childtime's proposed purchase of Tutor Time would boost the number of operating centers to 525, including locations in other countries. Childtime's new CEO came from Tutor Time.

COLUMBUS, OH-New facilities and expansion projects for commercial businesses, including a $1.5-million loan to North American Science Associates for its $6.7-million project, will receive help from the state to create new jobs.

YPSILANTI, MI-Ypsilanti, L.L.C. pays $2 million to Bank One for The Meadows, a 114-unit multifamily rental complex, located on a 16-acre site. CB Richard Ellis Inc. of Southfield, which now represents Farmington Hills, MI-based technology firm Covansys, is involved in the deal.