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64,000-Acre Land Deal in the Works

remstaff &Globe Street | December 26, 2001

FORT MYERS, FL-The Florida Forever Acquisition and Restoration Council has recommended the state purchase 10,000 acres of the Babcock Ranch and place another 34,000 acres under an environmental easement that would prevent future development. In return, the Babcock family would be allowed to develop 20,000 acres. Gov. Jeb Bush and the Florida Cabinet rule on the plan Jan. 29.

Glimcher Closes $46-Mil Debt Refinancing

remstaff &Globe Street | December 26, 2001

COLUMBUS, OH-Two malls in Ohio and Kentucky are used as collateral for mortgages, releasing 10 community centers from a $33.4-million bridge loan. The REIT also replaces the old debt with lower interest rates.

Hadco Establishes a Local Presence

remstaff &Globe Street | December 26, 2001

CANTON, MA-Hadco opens its first Boston-area office here at the Canton Corporate Park near Routes 1 and 95. The Suwanee, Georgia-based company is a regional distributor of high-end specialty appliance products for the home.

Delta Dental Plans 10,000-SF Office

remstaff | December 26, 2001

GILBERT, MN-The Iron Range Resources and Rehabilitation Board, a regional economic development agency, will help Eagan, MN-based Delta Dental Plan of Minnesota finance and build a permanent 10,000-sf facility.

GlobeSt.com UPDATE: Industrial Sales on a Roll

remstaff &Globe Street | December 26, 2001

ORLANDO-Transaction volume of $126 million to date could surpass the record $149 million in 1998, Grubb & Ellis Co. projects. Average per-sf sales of $37.78 are the highest in five years.

650,000-SF African-American Cultural Center Proposed

remstaff &Globe Street | December 26, 2001

DETROIT-Dorian Harvey wants to buy city land for more than $5 million to create 650,000 sf of shops, entertainment, office and living areas to celebrate African history. The development will be the first of its kind.

Las Vegas Office Market Battles Rising Vacancy

remstaff &Globe Street | December 26, 2001

LAS VEGAS-Significant new office development is pushing vacancy in the Las Vegas market and creating a windfall for office tenants as a result, says the latest Grubb & Ellis Co. report. Look for vacancy to spike to 12% to 14%, a far cry from recent years.

Costco Fills Ward's Void at Randhurst

remstaff &Globe Street | December 26, 2001

MOUNT PROSPECT, IL-An incentive package from this northwest suburb lures the warehouse retailer to a 212,000-sf former Ward store in the 1.3-million-sf Rouse Co. property. The village expects big returns on its potential $5-million investment.

Sublease Space Will go Away, Expert Predicts

remstaff &Globe Street | December 26, 2001

DENVER-"The psychological impact of having 3.4 million sf of subleased space is huge," says Nick Pavlakovich, a senior director and top office broker at Cushman & Wakefield. That would push the overall office vacancy rate to 18%.

Industry, Environmentalists Praise Passage of Brownfields Act

remstaff &Globe Street | December 26, 2001

WASHINGTON, DC-Congress passes the Brownfields Revitalization and Environmental Restoration Act, giving state and local governments access to $250 million for the cleanup and conservation of abandoned commercial and industrial properties throughout the US.

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