July 15, 1999By Paul Gereffi, VertiNews CorrespondentFORT LAUDERDALE, Fla. – The tightest market in Broward County industrial space in years is putting a crimp on business expansion, but could be a lucrative opportunity for builders. "This is the...

July 15, 1999KING OF PRUSSIA, Pa. – Universal Health Realty Income Trust (NYSE: UHT) reported second-quarter funds from operations of $5.4 million, or 60 cents a share, up from $4.9 million, or 55 cents/share the year before.For the...

July 15, 1999LOS ANGELES – The Government of Armenia said it obtained a court order against Hellenic Telecommunications Organization (OTE), the Greek telephone company, to seize the shares held by OTE in ArmenTel, the Armenian telephone company. The...

July 15, 1999 WASHINGTON, D.C. – Charles E. Smith Residential Realty Inc.(NYSE:SRW) has purchased The Consulate, a 269-unit luxury apartment building in the Connecticut Avenue corridor of northwest Washington. The transaction, valued at about $33 million, was funded...

July 15, 1999 ESCONDIDO, Calif. – Realty Income Corp. (NYSE: O) declared a 17.5 cent per share monthly dividend, payable on August 16 to shareholders of record as of August 2. The dividend represents an annualized rate of...

July 15, 1999SACRAMENTO – Keeping step with state-of-the-art concrete tilt-up technology, Sacramento-based Panattoni Construction, Inc. said the firm expects this week to raise some of the tallest concrete building panels west of the Mississippi.The panels will be used...

July 15, 1999 GARDEN GROVE, Calif.– New Discoveries Publishing (OTC Bulletin Board: NWDP) said it has signed a letter of intent with the Castle Group of Hawaii (OTC Bulletin Board: CAGU), to purchase and complete a Five Star...

July 15, 1999 Old Commercial National Bank site soldHouston Chronicle, July 14One of the oldest structures in Houston, the 95-year-old Commercial National Bank building on Main Street, has been sold to a local group of investors that plans...

July 15, 1999NORTHBROOK, Ill. – A venture led by Cargill Financial Services Corp. has purchased National City Tower, a 723,000-square-foot office building in Louisville, Ky.Cargill teamed up with M&J Wilkow Ltd. to buy the 40-story building from an...

July 15, 1999Canada's economy in '90s: 'Truly ugly'The Ottawa Citizen, July 15OTTAWA – A leading economic think tank describes Canada's economic performance during the 1990s as "truly ugly" when compared to the boom being experienced in the United...

July 15, 1999Developer buys land near Denver's FlatIron mallDenver Rocky Mountain News, July 15DENVER – One of the largest real estate developers in the country is planning an $80 million, 360,000 square-foot shopping center and three hotels adjacent...

July 15, 1999Nasdaq-Amex skips Times Square big dig New York Daily News, July 15NEW YORK –The Nasdaq-Amex is shelving its plans for developing a gleaming new stock exchange and headquarters building in Times Square and has begun to...

July 15, 1999 LOXLEY, Ala. (AP) – Ace Hardware Corp. will break ground tomorrow on a $35 million distribution facility in Loxley.The facility, the size of 16 football fields, is expected to create 325 new jobs, the mayor...

July 15, 1999N.Y. financier takes full control of USX Tower Pittsburgh Post-Gazette, July 13PITTSBURGH – A New York investment fund run by Wall Street financier Leon Black now controls 100 percent of USX Tower's $265 million mortgage, giving...

July 15, 1999SAN FRANCISCO — Teachers Insurance is said to be negotiating to buy 88 Kearny Street, a 210,000-square-foot office building in the city's downtown.Although Teachers would not confirm or deny a deal, the San Francisco Business Times...

July 15, 1999Kansas City developers propose changes to Power & Light District plansKansas City Star, July 15 KANSAS CITY – Developers of the $454-million Power & Light entertainment district are proposing changes to the downtown revitalization plan approved...

July 15, 1999 NEW YORK (AP) -- Treasury bond prices were mixed at midday. The price of the Treasury's main 30-year bond was down 1/16 point, or 62 1/2 cents per $1,000 in face value, around midday, while...

July 15, 1999 CINCINNATI – Marriott International, in conjunction with Winegardner & Hammons, Inc., and Western and Southern Life Insurance Co. said it will build a new full-service, 295-room hotel in the Cincinnati area. Scheduled to open in...

July 15, 1999CONSHOHOCKEN, Pa. – Norman M. Kranzdorf, president and chief executive officer of Kranzco Realty Trust (NYSE:KRT) has been elected a director of privately held New America Network, Inc., Hightstown, N.J. New America is a global partnership...

July 14, 1999 $50 million hotel project OK'd The Virginia Pilot, July 14VIRGINIA BEACH – The City Council approved on a 9-2 vote a $50-million resort project, including a 300-room luxury hotel, shops and restaurants, that will reshape...

July 14, 1999 Target's owner plans second campus office siteMinneapolis-St. Paul City Business, July 12 MINNEAPOLIS – Dayton Hudson Corp. is preparing to build a new suburban home for hundreds of its back-office employees. The company has assembled...

July 14, 1999Wachovia Corp. has provided $57.7 million to developer Calvin Cafritz Enterprises to complete Farragut Center, a speculative office building in Washington, D.C.The building is one of only two speculative projects going up in Washington, according to...

July 14, 1999 HUNTSVILLE, Ala. – Colonial Properties Trust has leased 20,300 square feet at a speculative office building it is constructing in Huntsville, Ala.ADS Corp. becomes the first tenant at the 133,000-sf property, Colonial Center at Research...

July 14, 1999SACRAMENTO, Calif. – The California Public Employees' Retirement System said it bought 41 properties, valued at more than $1 billion, since the beginning of the year, making it one of the most active buyers of real...

July 14, 1999 NEW YORK – Credit Lyonnais Securities (USA) has hired Bryan A. Maher as vice president and senior analyst for the lodging and leisure industry.Maher formerly was with Deutsche Bank Alex. Brown in New York, where...