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LINDEN, NJ-In the wake of Ford's decision to close its Edison, NJ plant, General Motors will cut back to one shift for now, and may close the plant altogether by 2004.
LONDON-According to Jones Lang LaSalle first global hotel sentiment survey since 11 September, the short-term outlook is lousy but the medium term looks OK.
DENVER-Concessions of up to three months free rent are being offered by some property owners as the overall apartment vacancy rate hits an 11-year high of 8.7%, the Genesis Group reports.
FORT LAUDERDALE, FL-James G. Centanni Jr., a former New Jersey-based architect with 24 years of industry experience, will head the new branch as a company vice president.
TUALATIN, OR-One of the nation's largest insurance and financial services companies extends and expands its lease to 7,679 sf in Southcenter III, a 116,000-sf Tualatin office building owned by UBS Realty Advisors on behalf of a pension fund.
DALLAS-1477 Wireless of Dallas lands its first contract to implement an on-line maintenance program for the multifamily sector. Dallas jumpstarts the lighting process Feb. 25 at 20 properties, with the balance of the AMLI portfolio going live in May.
CHICAGO-Representatives of more than 50 firms visit city hall for a pre-submittal meeting, a key step before meeting a March 22 deadline for requests for qualifications to develop the 2.8-acre Downtown site.
LONDON-According to Jones Lang LaSalle first global hotel sentiment survey since 11 September, the short-term outlook is lousy but the medium term looks OK.
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.
NEW YORK CITY-The city's 2003 budget contains a one-line item that has been raising eyebrows all over town. It's a controversial plan to sell the tax benefits to city-owned property to private entities.