Globest Sectors

MEDFORD, MA-The Massachusetts Highway Department gives $12 million to the Telecom City project, a 200-acre, $750 million development located here and in Malden and Everett to improve its road infrastructure. Despite the current economic climate, the project is forging ahead.

ST. PAUL, MN-User fees or proceeds from expanded gaming in the state are among proposals to provide public money for the stadiums. Total cost of both stadiums is estimated at $825 million.

BINGHAM FARMS, MI-The retail REIT believes it could see funds from operations reduced by $2.2 million year from the closure of up to 12 department stores. Kmarts lease 27 properties from Malan, accounting for 25% of base rents.

RANDALLSTOWN, MD-The Carriage Hill Apartments will continue to undergo its rejuvenation process with the assistance of a $36 million refinancing loan from Arbor Commercial Mortgage. Owner Sawyer Realty Holdings take on the 10-year loan at a rate of 7.11%

NEW YORK CITY-The 81-year-old law firm will join 125 other legal practices at the 55-story tower near Grand Central Terminal.

LONDON-The UK shopping centre sector saw a surge in investment activity at the end of 2001. The final quarter saw more money invested in UK malls than during the second and third quarters combined, according to DTZ.

SEATTLE-After a couple of years of negotiating, the YWCA and the private developer have exchanged parcels, each valued at $1.4 million. The land in question is located in Belltown, on the east side of Third Avenue, between Virginia and Lenora streets.

NEW YORK CITY-The former mayor pulled a behind-the-scenes Hollywood shuffle during his last week in office, quietly green-lighting a Staten Island movie-studio plan helmed by ex-mayoral crony Danny Aiello and a $40-million handout that could finally get cameras rolling at the Brooklyn Navy Yard.