PHILADELPHIA-The City Council granted preliminary approval on Thursday of a plan to transfer $50 million to the cash-strapped School District of Philadelphia in return for a portfolio of closed school buildings that will be marketed for sale.

LODI, NJ-Convenience store chain Wawa officially opened its first store in Bergen County today. The firm intends to open two more stores in North Jersey next year and 10 more by 2015.

NEW YORK CITY-Citigroup Inc. is reportedly close to deciding its course of action in terms of its massive amount of office space it occupies in the New York metro region and where it will house its global banking headquarters.

NEW YORK CITY-A combination of factors, including high rents in other areas of the city, has initiated a surge in leasing activity in the Garment District.

NEW YORK CITY-A partnership that includes real estate developer Jared Kushner closed on Wednesday on most of the properties involved in a planned $375-million deal with the Jehovah Witnesses in the Dumbo section of Brooklyn.

SMYRNA, TN-NAI Global Corporate Solutions reports it has brokered two significant industrial transactions, including a deal totaling 178,000 square feet here.

AUGUSTA, GA-Earlier this week came word that Bass Pro Shops was not moving forward with a plan to build a new 50,000-square-foot store here. Columbia County officials say that the retailer at the 11th hour asked for additional incentives that they found unreasonable.

MIAMI-Hyatt Hotels Corp. reported on Thursday that it will begin construction later this year on the Hyatt South Beach.