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NEW YORK CITY-As rumors of CIBC Oppenheimer's plans to sell its retail operations to Lehman Brothers becomes accepted fact, some wonder if the deal will free up any retail and office space.
ORLANDO-GC Cos. of Chestnut Hill, MA, parent of General Cinema Theaters Inc., is shuttering four local properties today with a total 28 screens after apparently failing to find a buyer for the financially-strapped assets. The other theaters are in Boca Raton, Coral Gables, Plantation and Palm Beach Gardens.
HOUSTON-Weingarten Realty Investors, a Houston-based REIT, will develop a 370,000-sf shopping center in Shreveport, LA. The University Place project is being anchored by a 175,000-sf SuperTarget.
MIAMI-ABR Infocom's proposed 1.2 million-sf, $150-million ($125 per sf) Downtown telecommunications center has received a green light from the city's Urban Development Review Board. But a number of competing plans for a similar facility are still in the running to get into the ground first.
MONTGOMERY, NY-New York Governor George Pataki and US Senator Charles Schumer jointly announced that office retailer Staples Inc., has decided to develop a $40-million Northeast distribution hub in Orange County.
OCEANSIDE, CA-The planning commission approves site plans for a $1 billion project by a company that will become the city's largest private employer. The long-range plan calls for 14 office and industrial structures on a 60-acre site.