NEW YORK CITY—The office REIT has completed its $516-million purchase of the Class A office portion of the former New York Times building.

BALTIMORE—Red Lion Hotels Corp. officially launched its new brand Hotel RL at Baltimore's Inner Harbor.

MARSHFIELD, MA—New York City-based Brixmor Property Group has added the Webster Square shopping center here to its grocery-anchored retail portfolio that now exceeds 87 million square feet nationwide.

NEW YORK CITY—A major construction industry trade group reports that there has been a 156% increase in the number of new units to be built in the city.

LAUREL, MD—The healthcare sector continues to play a significant role in the DC area economy as one healthcare provider will consolidate some services and build a new ambulatory facility, while another regional health care institution is looking to build a new $400-millon medical-surgical building at its DC-based campus.

BOSTON—In its forecast for the next 12 months for the Greater Boston office market, Newmark Grubb Knight Frank predicts all categories that indicate a continued strong market are pointing skyward.

WHITE PLAINS, NY—While small-to-medium sized lease transactions fueled the Fairfield County, CT office market in the second quarter, one large lease deal here by PepsiCo had a major influence on Westchester County, NY's office market during that period.

NEW YORK CITY—Residential and commercial brokers here are showing some concern over the potential impact of a hike in interest rates and the continued lack of two-bedroom apartments will have on the New York City real estate market.