SAVANNAH, GA—An affiliate of Weston, FL-based InSite Group has acquired the 101-room hotel at 320 Montgomery St. in downtown Savannah with the intent to reposition the former Country Inn & Suites property.

HARDEEVILLE, SC—Stratford Land reports it has reached an agreement with Panattoni Development Co. of Newport Beach, CA to be a preferred development partner at its RiverPort Business Park here.

EAST HANOVER, NJ—Locally-based Novartis Pharmaceuticals, which has announced job cuts several times already this year, reports it will layoff 200 workers by February.

ATLANTIC CITY, NJ—The Atlantic City region shed 9,900 jobs in the past year due mainly to the closure of four casinos here.

BALTIMORE—An increase in the number of transactions as well as rising property values have caused real estate revenues to rise sharply in Baltimore.

RICHMOND, VA—Virginia Gov. Terry McAuliffe is looking to the private sector to help key a turnaround for the state that has recently lagged behind the nation in terms of job growth.

NEW YORK CITY—Chinese investors continue to invest in prime Manhattan real estate and are willing to pay top dollar. The Bank of China Ltd. has reportedly agreed to acquire 7 Bryant Park, currently under construction, for a purchase price that will approach $600 million.

MANHASSET, NY—North Shore LIJ has acquired the 600 Community Drive office building here form a partnership led by New York City-based Carlton Group Chairman Howard L. Michaels for a record-shattering price of $65 million.