Industrial

DETROIT-Though property pollution is rampant in Michigan, reuse of former contaminated property is rising to more than $4 billion of investment per year, says the Michigan Department of Environmental Quality.

SAN FRANCISCO-The Presidio Trust is relying on investors to help rehabilitate the Presidio's Montgomery Street barracks, but the estimated renovation costs coupled with the current economy, has kept interest light.

VAN NUYS, CA-The buyer is doubling the size of his business from current operations in Burbank, Calif. The building is in a new business park crafted from a former aerospace facility.

ORLANDO-The triple-B rating from triple-B-plus comes as the New York-based bond-ranking agency worries the sale of the county's refunding revenue bonds could be affected by the civil lawsuit Lake has filed against Fairfield, NJ-based Covanta Energy Corp. to regain control of the 13-year-old, 100-acre incinerator complex near Okahumpka, FL.

DALLAS-Southwest Bindery signs the deal with EastGroup Properties as a result of "aggressive" negotiations that end in a 10-year contract. The inbound tenant exits 40,000 sf for the expansion move and state-of-the-art equipment.

CYPRESS, CA-The manufacturing company inks a 62-month lease for industrial space at 6185 Phyllis Dr. The new tenant is joining current occupants Foxconn and GTECH in the facility.

PALM BEACH GARDENS, FL-Prison REIT Correctional Properties Trust files a universal shelf registration with the Securities and Exchange Commission. The registration statement allows the company to offer $250 million of its common stock, debt securities and warrants.

VALHALLA, NY-Westchester County government held an informational session nearby its one million-square-foot proposed biomedical research park on the Grasslands campus that attracted a host of commercial real estate development and health care firms.