The new office, which spans four floors at the 30-story office tower, consolidates two former offices into one location.

In moves to provide greater support for historic preservation initiatives in Philadelphia, the legislation, if passed, would allow by-right zoning for special purpose historic buildings, reduce parking requirements for historic building redevelopment and allow accessory dwelling units in historic buildings.

Walsh most recently served as principal and managing director of project management for Avison Young's New Jersey, New York and Boston offices.

Prism, who will be operating partner, will redevelop the former car dealership site into a development that will feature 232 apartments and 12,000 square feet of retail space.

Meritage states that it plans to fund the $100 million in the development of the 40 Wendy's restaurants through a combination of cash on hand and development credit facilities.

The joint venture between Signature Senior Lifestyle and an affiliate of Heitman will acquire and develop three to four sites that will house premium, private pay senior living schemes comprised of independent, assisted and dementia care apartment home units.

The acquisition marks the company's fifth in the US in the past 12 months, with three sites under its belt in New York City, and a recent announcement that it had secured permits in Chicago for a 170,000-square-foot ground-up co-living project in The Chicago Loop.

The Miami firm has purchased 550 Biltmore, a 162,293-square-foot, Class A office building in Coral Gables. The deal calculated out to a purchase price of $336-a-square-foot, according to Cushman & Wakefield.