NEW YORK CITY—Newmark Grubb Knight Frank reports that Manhattan's office availability rate fell to 11.3% at the end of the first quarter, the lowest rate since the fourth quarter of 2008 when the rate stood at 11.2%.

BALTIMORE—The original design of the Four Seasons Baltimore called for a 44-story hotel and condominium building. However, financing issues forced developer H&S Property Development Corp. to build just the 21-story hotel.

PHILADELPHIA—C-III Asset Management, the special servicer overseeing the One Penn Square West building that is in receivership. has exercised its option and has acquired the high-rise office building.

PARSIPPANY, NJ—Jones Lang LaSalle reports it has recently completed the management of the construction of the Lexus Eastern Area Office and Training Facility at 300 Webro Road here for Toyota Motor Sales U.S.A. Inc.

SANDY SPRINGS, GA—Coro Realty Advisors reports it has signed Salons By JC and Rockler to lease deals at its Sandy Springs Crossing Shopping Center here.

MIAMI—The Raleigh Group, founded by designer Tommy Hilfiger, has acquired The Raleigh Hotel on Miami Beach.

ALBANY, NY—The low interest loan and tax credit financing will help build and preserve nearly 2,100 units.

ARLINGTON, VA—Simon Property Group, the owner of The Fashion Centre at Pentagon City, provided specifics on Wednesday on its much anticipated multi-phased renovation and expansion at the 170-store retail property.