Mitch Robinson, Cape Girardeau Area Industrial Recruitment Association's economic development director, reports that "Cape's" economy and real estate markets are "steady-a very good kind of steady."

Production has begun in proctor & Gamble's $350 million expansion, while local companies are expanding and purchasing new equipment. Sam's Club opened two years ago and Albertson's Inc. is moving into the city with a new 61,020 sq. ft. Albertson's Food Center. Most companies are trying to keep staffed as the area's unemployment rate reaches 3.1%. "Everyone feels pretty comfortable with 2000 and 2001," says Robinson.

The only major industry vacancy is a 250,000 sq. ft. former Super Valu warehouse that was vacated this summer. Several parties have already expressed an interest and Robinson anticipates that the distribution center would be operational again by summer 2001.

Drury Southwest's 75,000 sq. ft. Auburn Park Place speculative office building is now 43% occupied. Larry Westrich, vice president, reports that the building is on schedule for occupancy by early 2001. Considering the risk, the building "has turned out to be a good deal for us."