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ATLANTA-The 16,500-sf transaction at Downtown's Inforum building has an estimated value of $5 million. The lease brings the occupancy of the 987,000-sf structure to 98%. LayerOne's Nexus network will be relocating in first quarter 2001.
SAN JOSE, CA-Responding to inquiries from the San Jose Mercury News, city officials this week concede that the proposed new City Hall building will likely fail to win Federal Aviation Administration approval because it is too tall.
REDMOND, WA-The project, which will feature 308 moderately-priced apartment units and a 4,500-sf daycare facility, is said to be the first of its kind in the United States. Developers of the project hope that it will solve traffic congestion by minimizing the need for cars.
DALLAS-Two new Payless Cashways building products stores will open in North Texas in line with a retail restructuring announcement that calls for 22 closings by the Kansas City, MO-based company.
DENVER-It's taken better than a decade, but Denver is getting serious about building a new jail. Present plans call for a 112-story facility to house 3,100 inmates - project that three years ago had carried a $235-million price tag.
ORLANDO-Although net absorption is up and vacancies are down, this 92 million-sf entral Florida sector lacks sufficient distribution and warehouse space to accommodate demand by the small user, according to Grubb & Ellis Co. The result is a flurry of build-to-suit activity.