MOUNTAINSIDE, NJ—The Punia Co., the original developer of the medical office building at 1450 Route 22 West here, has reacquired the asset for $8.45 million, completing a 1031 exchange.

CORAL SPRINGS, FL—Inland Income Realty Trust has acquired North Hills Square, a Walmart Neighborhood Market-anchored shopping center, here.

Dining and entertainment chain Dave & Buster's has inked a long-term 41,000-square-foot lease at Post Road Plaza here.

RALEIGH, NC—Private equity real estate fund Velocis has acquired two medical office buildings three blocks from the UNC Health Care System's Rex Hospital in the Research Triangle.

BETHESDA, MD—Douglas Development, which recently purchased the Pines of Rome restaurant property here, says it intends to build a mixed-use development at the property.

WASHINGTON, DC—The U.S. Department of Housing and Urban Development has rejected a nearly $30-million grant request by the D.C. Housing Authority to rehabilitate two complexes in Northeast D.C.

BOSTON—AvalonBay Communities says it is cooperating with investigators that are now looking into the cause of Thursday morning's partial collapse of a rental apartment tower the firm is constructing at 45 Stuart St. here.

MIAMI—Swire Properties Inc. reports it has hired One Sotheby's International Realty and Fortune International Realty to lead its sales and marketing efforts for its Brickell City Centre's condominium residences here.