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NEW YORK CITY-Just prior to Wayne Lagary of Julian J. Studley informing GlobeSt.com that 16,000 prime sf of sublease space will hit the market, an industry expert discussed how subleasing reflects the downturn of the economy.

INDEPENDENCE, MO-The six-month renovation has $10 million price tag. An additional $12.5 million will be spent on new exhibits over the next five years. It is the first major renovation for the museum.

CHANNELVIEW, TX-A commercial painting company has decided to stay put in an 11,600-sf industrial site near Houston's ship channel. Lone State Equipment Services operates a state-of-the-art paint shop for commercial vehicles.

AUSTIN-Buda takes the reins to nearly 5,500 acres as a result of an Austin decision. The state capital's stringent ties that bind aren't prevalent in the suburb, meaning that the acreage is ripe for development.

NEW YORK CITY-The London offices of Insignia Hotel Partners have arranged for more than $10 million in debt finance on behalf of private UK investors who have just purchased the Caribbean hotel.

CHICAGO-LeMeridien is on target to open its 311-room hotel on North Michigan Avenue in April, the newest luxury property to hit the Downtown market. It is the largest reconstruction of a landmark fagade in North America.

HARRISON, NY-Stephen B. Siegel, chairman and chief executive officer of Insignia/ESG said that while activity may drop a bit in 2001, there will still be cause for celebration for most engaged in commercial office brokerage in the tri-state region.

HYATTSVILLE, MD-The marketing company plans to bring 400 jobs to Prince George's County to staff its high-tech call center. Prince George's Metro Center plans to expand one building to meet company's needs.