WHITE PLAINS-Valhalla developer Louis Cappelli says he paid "somewhere north of $50 million" for the former Macy's store property here and now plans a $250-million retail/housing venture.

TARRYTOWN-A commercial broker who covers Westchester and Fairfield Counties says that corporate downsizings and the demise of e-commerce companies in the region put a large amount of sublease space on the market in the first quarter.

STAMFORD-Despite leasing activity that is still robust in historical terms, the office availability rates in Fairfield County and Downtown Stamford edged up in the first quarter of this year, according to Insignia/ESG.

ALBANY-IBM and New York State have announced plans to contribute a total of $150 million to establish a Center of Excellence in Nanoelectronics at the University at Albany.

WHITE PLAINS-GHP Office Realty reports it has secured more than 11,000 sf in lease deals at its South Broadway property here and leased 1,700 sf at its Knollwood Road building.

STAMFORD-Despite leasing activity that is still robust in historical terms, the office availability rates in Fairfield County and Downtown Stamford edged up in the first quarter of this year, according to Insignia/ESG.

WHITE PLAINS-New York Presbyterian Hospital is hoping to secure as much as $50 million in state funding for its proposed biomedical development project at its campus here.

STAMFORD, CT-Officials with Insignia/ESG say that the slowing economy and the dot-com fallout did have some effect on leasing activity and office space availabilities in the first quarter.