NEW YORK CITY-Cushman & Wakefield executive vice president Jack Fraker predicts the industrial sector will be the first US real estate market to recover, fueled in part by consumer confidence. The office sector is projected to pick up soon thereafter.

NEW YORK CITY-O'Neill Properties offers the class A office space in Millenium III and IV complexes here for lease. Asking prices are $28.50 and $30 per sf respectively; total space offered is 235,000 sf.

NEW YORK CITY-A series of reports from Grubb & Ellis/Knight Frank suggest now is the time to buy into the US office market. Occupancy costs have cooled to 1999 levels as the US struggles with a still-fragile economy, tech-wreck fallout and the continuing ripple effects of Sept. 11.

NEW YORK CITY-Current hotel development levels are comparable to the early '90s slump, according to GlobeSt.com MarketData provider Lodging Econometrics. New room counts have felt a 28% drop since January 2001 and hotel openings haven't been this scarce since 1995.

NEW YORK CITY, NY-Ernst & Young predicts 2002 to be a watershed year for opportunity fund investments, continuing the record-setting trends of last year. The sector stands to raise in excess of $50 billion and become the most financially powerful commercial real estate arena globally within several years.

PHILADELPHIA,PA-The specialty biopharmaceutical firm Novavax Inc. leases 20,000 sf to house manufacturing facilities for its new Estrasorb product, an estrogen replacement lotion. Burns Mechanical Inc. will spearhead design and layout for the project.

NEW YORK CITY-Carl Weisbrod yesterday outlined a Lower Manhattan revitalization plan that focuses on rethinking road configurations and providing corporate incentives as key issues to ensuring the area's cultural and economic prominence.

NEW YORK CITY-Despite recent reports that the deal was headed south, Donald Trump yesterday walked away with the keys to the 31-story Hotel Delmonico in a $115-million deal that went off without a hitch.