NEW YORK-During a meeting here for the Building Owners and Managers Association, Cushman & Wakefield president and CEO Arthur J. Mirante II reported that while demand in the office and industrial sectors has declined for eight consecutive quarters, a turnaround may be expected for 2003.

LONDON-Over pounds 1.3 billion ($2.1 billion) was invested in Central London offices in the fourth quarter of 2002 according to Insignia Richard Ellis, bringing the annual total to pounds 6.5 billion ($10.5 billion). Demand was strongest in the West End.

BURBANK, CA-The owners of a firm that provides lighting for the movie industry buy the industrial property for an expansion. The building will serve as a warehouse and distribution facility.

DALLAS-The retailer will shutter 54 locations in Texas, the largest hit by any state in the 326-store shutdown. When the dust settles, it will be discovered most are leased locations, with backfilling more complicated because there are multiple building owners.