PITTSBURGH-The Standard Life Building is facing a foreclosure action by First Commonwealth Bank over financing in excess of $5 million.

NEW YORK CITY-A plan by Malkin Holdings to file an initial public offering on a REIT that would include the Empire State Building and 20 other properties is very close to reaching the investor approval threshold needed to move forward.

NEW YORK CITY-Bowing to some criticism of its notice to raise rents in a few weeks by as much as 30% at its Stuyvesant Town-Peter Cooper Village development here, CW Capital Asset Management LLC pushed the effective rent increase date back to July 1.

LAUREL, MD-Greenberg Gibbons, the lead developer of the $130-million mixed-use Town Centre Laurel development here, announced that Harris Teeter, Sports Authority, Burlington Coat Factory and a Regal movie theater have signed leases at the project.

FORT WASHINGTON, PA-Temple University Health System is undertaking renovations on space in an office building here that will be home to a new urgent care center.

EAST RUTHERFORD, NJ-The New Jersey Sports and Exposition Authority has scheduled a special board meeting on Friday where “formal action may be taken, including but not limited to, actions regarding the American Dream project.”

TRENTION, NJ-Although the rate of growth slowed thanks to Gov. Chris Christie's 2% property tax cap, the average residential property tax bill rose to a record $7,885 last year.

ORANGETOWN, NY—Bloomberg L.P. is contemplating developing a $710-million data center here and is currently before the Rockland Industrial Development Agency for incentives in connection with the project.