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MEDWAY, MA-Sithe Energies decides not to develop a power generating station on part of a 95-acre parcel it owns here. A spokesperson for the firm says the plan has not been cancelled, only suspended.
ST. PAUL, MN-The governor weighs in with his own ballpark financing plan for the Minnesota Twins that uses the state's bonding authority, but calls for no tax support. The House and the Senate each have their own bills in the works to finance a new $330-million ballpark.
NEW YORK CITY-A steady yen depreciation results in a ripe Tokyo office market for US multinational companies, according to a recent Cushman & Wakefield report. As the world's second-largest economy, Japan continues its struggle against the American dollar and the euro.
SCOTTSDALE, AZ-DHL Systems signs for 106,000 sf of the Koll Perimeter Center, a spec project off Loop 101 in Scottsdale. The San Francisco-based firm will open a data center to complement its operations in London and Kuala Lampur, Malaysia.
WASHINGTON, DC-The National Association of Realtors applauds the passing an economic stimulus package, which includes a provision allowing businesses take a first-year 30% tax deduction on the cost of leasehold tenant improvements made in the next three years.
CANNES-Facilities management takes a step forward. A raft of FM, building and property groups have come together to offer a new service to help companies manage their property and technology infrastructure
HOT SPRINGS, VA-The South Carolina-based developer acquires 12,300 acres of land in a $16-million transaction. The deal calls for Celebration to sell 9,000 acres--land that will be permanently conserved--to the Nature Conservancy of Virginia for $6.3 million.
PHOENIX-Cushman & Wakefield of Arizona says there are bright spots in the 2001 close industrial market stats despite a 9.1% vacancy and 4.4 million sf in deliveries in the final two months of the reporting period.