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PALM BEACH GARDENS, FL-A newly formed subsidiary of locally based Correctional Properties Trust is using the proceeds to finance the acquisition and refinancing of two North Carolina prisons. Palm Beach Gardens is 73 miles north of Miami.

HOUSTON-Smaller freestanding warehouses are hot tickets in Houston, says a Grubb & Ellis broker who has inked two more pacts in the steadily growing trend. The tenants have inked deals for a total of 22,000 sf and terms of five and three years.

HOUSTON-Weingarten Realty has acquired another southeastern US shopping center and one that marks its ownership inroad into North Carolina. It already has a development partnership and Raleigh office up and running. Logically, it's time to start buying.

LIBERTY CORNER, NJ-The air conditioning giant will reduce its workforce by a total of 800 positions, mostly by closing a plant in Maryland. Some production is slated to be moved to Asia.

SPOKANE, WA-The international company acquired locally based American Electronic Sign Co. late last year and renamed it 3M Dynamic Message Systems. Now it's expanding en route to new products.

DENVER-The refinance deals include a 24-month floating rate bridge loan for $6.2 million for Plaza 6000, a 104,000-sf office building at 6000 E. Evans Ave. The other deals are in Columbus, OH and Silver Springs, MD.

SAN DIEGO-A supplier for the semiconductor industry has completed the relocation of its corporate offices into a single large building in Parkway Business Center in Poway.

SAN DIEGO-A $1 million renovation of the Imperial Beach Promenade shopping center at the southernmost tip of San Diego County has a general contractor and should be finished by August.