MONTEBELLO, NY—In its continued drive to sell off non-core assets and particularly suburban office product in the northern suburbs of New York City, Mack-Cali Realty Corp. reports it has sold 400 Rella Blvd. here for approximately $28.3 million.

KING OF PRUSSIA, PA—Realen Properties of Berwyn, PA reports it plans to break ground later this summer on the first phase of its Village at Valley Forge development here.

STUART, FL—A private 1031 exchange investor from California has acquired the Hemingway at Stuart multifamily community here.

ALPHARETTA, GA—Specialty insurance company Star & Shield Services, LLC has signed a lease for nearly 15,000 square feet of space at the Great Oaks Center here.

ATLANTIC CITY, NJ—With the prospect of the city's boardwalk being down to just nine casinos by September, Atlantic City is going through a shakeout due to what analysts say is an oversupply of gaming establishments.

WASHINGTON, DC—A recent letter from a top DC official hints that JBG Companies is perhaps trying to make a deal to sell its property that is home to the Four Points by Sheraton Downtown here.

WASHINGTON, DC—The Hyatt Place Washington D.C./U.S. Capitol officially opened its doors late last week. Officials with Hyatt Corp., JBG Companies and Crescent Hotels & Resorts staged the grand opening ceremonies for the 200-room hotel.

NEW YORK CITY-The ownership of 245 Fifth Ave. office tower—Moinian Group and Thor Equities—say they plan a major redevelopment program at the property to reposition it for tech, media and creative firms.