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GEORGETOWN, TX-Fairchild Corp. is shuttering a Georgetown aircraft repair and maintenance operation. The Virginia-based owner is hawking Banner Aerospace real estate and the business. Blame it on the economy, says the broker.
PHOENIX-Ground will break in January on a $100-million office complex for Maricopa County. The Capital Mall design is 23 stories and 700,000 sf. Early predictions are the complex, which will consolidate some 11 locations, will be completed in 2004.
NEW YORK CITY-National lobbying efforts help a woefully decentralized industry, but the legislative cards--especially in terms of environmental issues--are still stacked against commercial real estate.
LONDON-Pizza Hut, the restaurant chain half-owned by Whitbread, plans to open well over 100 outlets over the next year in a multi million spending spree. The news comes hard on the heels of a rationalisation in Whitbread when many market analysts expected a cut-back in restaurants in favour of fitness centres.
RICHARDSON, TX-The current market conditions have made it possible for a high-tech firm to plot a move into class A space at Palisades Central II in Richardson's Telecom Corridor. Integrated Telecom Solutions has set a Sept. 1 move-in to 15,000 sf of sublease space.
LYNNWOOD, WA-Cypress Semiconductor Corp. of San Jose, CA has leased and signed an option to buy a 66,528-sf building in the proposed Opus Northpointe Corporate Campus. The company will consolidate other Puget Sound operations and house 150 employees here.
AURORA, CO-The Lexington, MA-based high-tech company moves into a two-building, 175,000-sf complex in the CentreTech Business Park here. The company signs a 10-year lease on the property built by Panattoni Development.
HAMTRAMCK, MI-The city burdened with massive debt is given aid by state and Michigan Economic Development Corp.to rebuild infrastructure for a blighted Downtown street in hopes new development will follow.