Industrial

PALM BEACH GARDENS, FL-A newly formed subsidiary of locally based Correctional Properties Trust is using the proceeds to finance the acquisition and refinancing of two North Carolina prisons. Palm Beach Gardens is 73 miles north of Miami.

ACTON, MA-W.R. Grace, the Columbia, MD-based chemical company, explores redeveloping portions of its 259-acre former Superfund site here and in Concord. This move is stirring up local activists who contend the site is not clean.

HOUSTON-Tranwestern Commercial Services' Houston office is up and running on a new leasing assignment in the city's south central submarket. The 653,533-sf contract is for the eight-building Main Park Service Center and Main Park Distribution Center.

DALLAS-The leasing pace has picked up momentum this quarter, with another six deals, totaling 44,229 sf, closing for Dallas-Ft. Worth brokers. One pact means a headquarters relocation from Ft. Worth to Dallas.

ATLANTA-The 12-year-old global developer is banking on near-future demand at SouthPoint business park generated from the planned expansion at Hartsfield Atlanta International Airport.

ORLANDO-Orange County Property Appraiser Bill Donegan rules half of the 15-acre, five-month-old, for-profit attraction near Walt Disney World is a tourist venue and not a religious site. Instead of a $25,000 annual tax bill, the taxes will be $320,000. The park is preparing to sue the county.

MIAMI-The locally based real estate investment, finance and management company reports a 15% increase in second-quarter earnings per share.

LOS ANGELES-Robert Pernell says he will recommend that plans for the 53-megawatt plant be rejected by the full Energy Commission, noting neighborhood opposition and air-quality concerns.