ATLANTA-Struck by a severe downturn in fiber optic cable sales, the Corning, NY-based company cancels plans for the $450-million expansion of one Concord, NC plant and puts another similar-size expansion there on hold. Corning has five plants in the state.
PHILADELPHIA-Three area economic development groups and a private developer join forces to construct and market a spec facility to draw industry and jobs to the Slate Belt Industrial Center in Lehigh Valley, PA near the Green Knight Energy Center.
PHILADELPHIA-An $8-million plan to rehabilitate the six buildings used by General George Washington and the Continental Army in the 1777-78 winter moves into a second phase with an initial $570,000 in private and public financing.
ATLANTA-Locally based Resurgens Orthopaedics has signed a 10-year lease for the 14th floor of the 358,000-sf medical office tower, completed by locally based Cousins Properties in January as part of the redeveloped 500,000-sf Emory Crawford Long Hospital in Downtown.
ATLANTA-The global tire supplier signs a 10-year distribution center lease with owner Aurora, CO-based ProLogis Inc. at Eastgate Business Park in Lebanon, TN. Construction begins next month and completion is set for first-quarter 2003.
ATLANTA-Half of the four-building, six-story, mid-rise, 231-unit multifamily complex is leasing at $895 for a studio apartment to $2,105 for a two-bedroom, two-story office/residential loft.
PHILADELPHIA-With the opening of the 8,100-sf Hard Rock Cafi and debut of the 100-foot-long "Liquid Fireworks" fountain, Bessemer Court, the 59,000-sf centerpiece of Downtown Pittsburgh's $71-million Station Square expansion, opens for business.
ATLANTA-The 396-unit, 31-year-old apartment complex was renovated for about $20,000 a unit in 1993. Units average 1,440 sf and rent for $975 a month. The property is about five miles north of Atlanta's perimeter expressway and overlooks the Chattahoochee River.
PHILADELPHIA-Under a long-term sale-leaseback arrangement, global household products conglomerate Reckitt Benckiser USA develops its own build-to-suit distribution center in Mechanicsburg, PA, then sells it to New York Life for about $45 per sf. GVA Williams advises on the deal.