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DALLAS-Conventioneers cancel this month's events, nip 40% of October bookings and some are pulling the plug for November, says PKF Consulting. The Sept. 11 fallout has no one rebooking, a crippling blow to Texas' already depressed hospitality market.
WASHINGTON, DC-The Securities and Exchange Commission has suspended certain rules about stock buybacks, and at least one real estate company in this region -- Mills Corp. -- have said they now plan to buy back some of their stock. Another company--Corporate Office Properties Trust--sold shares on last Friday.
PHOENIX-Office and industrial markets in the region are definitely following suit with the nation. Office vacancy was 12.8% at midyear and industrial, 8.9%. The sectors haven't stopped, but new construction is going to make the burden even harder to bear.
CHICAGO-Highly-visible Downtown trophy properties may be nixed in favor of lower profile suburban buildings, experts say. One suggests companies should have plans for re-establishing operations in case of disaster.
MINNEAPOLIS-The $2.7-billion expansion was to include a new north-south runway by 2010. The carrier that accounts for the majority of flights at Minneapolis-St. Paul International Airport is cutting 20% of its routes, however.
SKOKIE, IL-Yes, they pay relatively high dividend returns now, and REIT share prices have enjoyed double-digit returns. But one local real estate banker says it's still buyer beware for investors.
CHICAGO-The sword in seniors housing cuts both ways. While returns are higher than multifamily, and demographics seem to work in the sector's favor. However, much more operational and regulatory issues are present.
DALLAS-Recent industrial activity closes off space in Grand Prairie, Dallas and Oklahoma City, where a Dallas-Ft. Worth tenant heads to set up its first Oklahoma distribution spot. A California firm elects the Great Southwest for its first Texas location.
TAMPA, FL-The leading developer of carrier-class, high-speed computer network solutions used in high-rise office buildings has 33 million shares outstanding on the Nasdaq.
BOSTON-The city was eerily quiet yesterday as people left office towers and high rises in droves in the wake of the terrorist attack on New York's World Trade Center and the Pentagon.