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NEW YORK CITY-The $85.6-million ground lease was finalized yesterday and the letters of credit were signed this morning, effectively moving the Gray Lady's new skyscraper off the drawing board and on to Eighth Avenue.
WORCESTER, MA-An initiative to revitalize the Main South neighborhood here moves forward as the developers prepare to clean up the property. The $30-million project, will ultimately involve 30 acres.
DALLAS-In a round of activity that accounts for almost 30,000 sf of office space, Cushman & Wakefield arranges leasing deals in three area buildings -- Plano's Park Center, The Bank of America Plaza and Addison's Millennium Center.
ORLANDO-BJ's Wholesale Club Inc. of Natick, MA plans to open three outlets by the first quarter in south Orlando, east Orange County and Sanford, FL as big-box developers watch stand-alone retailers, such as Walgreens, Eckerds and 7-11 convenience stores, pull customers away from regional malls and neighborhood shopping centers.
INDUSTRY, CA-Liberty Glove Inc. takes 181,500 sf of industrial space for $8 million at Catellus Commerce Center, while sauce-maker Lee Kum Kee spices up the market with a $5.6-million deal for 110,929 sf at nearby Bechler Corp. project.
BLOOMFIELD HILLS, MI-The mega-mall REIT pushes up the fourth-quarter dividend to more than $0.25 cents, an increase of 2%. The company's preferred dividend of $0.51875 per share also is declared.
WOODRIDGE, IL-Ground is broken on the first phase of the 19-acre Maple Point Business Park - Woodridge while a Birmingham, AL-based manufacturer leases 44,122 sf of industrial space in Internationale Centre.
FT.WORTH, TX-After failing to restructure loans, the highly-touted $43-million Westin Beechwood hotel goes into a foreclosure. CoServ Realty Holdings, the property's lender, takes over ownership of the hotel from Beechwood Co.
MINNEAPOLIS-Louise Dickmeyer's economic development background is the key reason for her replacing outgoing chief executive David Jennings, who becomes chief operating officer for the Minneapolis Public School system.
ORANGE COUNTY, CA-Although the Southland will continue to feel the effects of the recession into 2002, it will not be as hard hit as the rest of the state, according to renowned economist Michael J. Boskin, who spoke at yesterday's Southern California Economic Summit. He shared the stage with California State Treasurer Philip Angelides.