PHILADELPHIA-PREIT's 50%-stake in the partnership of an entity that owns one shopping center is at the core of its violation of REIT tax law. The stake represents just 1/100th of 1% of the company's total assets.

PHILADELPHIA-During the final quarter of PREIT's year-long transition to all retail, net income rose to $11.5 million, up from $7.3 million in the same quarter of 2002, and FFO climbed to $26.2 million versus $15.6 million.

PHILADELPHIA-The Greater Philly retail investment market's strength over the past few years will continue in 2004, according to Marcus & Millichap. Outside investors' share of single-tenant retail in the MSA will surpass today's 22%-level.

PHILADELPHIA-Sunoco agrees to buy a network of 385 retail units in three states and Washington, DC from Houston-based ConocoPhillips for about $486,753 per site, plus inventory. The sites operate under the Mobil banner.

GETTYSBURG, PA-With the hiring of retail veteran William Feast, Boyds Collection plans to duplicate its 120,000-sf flagship Boyds Bear Country store here in Pigeon Forge, TN this year. Two more units are planned for 2005.

PHILADELPHIA-With Circuit City's signature, the developer locks in 400,000 sf at the 36-acre former Whitman Chocolate factory site at Grant Ave. and Roosevelt Blvd. The center is scheduled to open this fall.

PHILADELPHIA-The IRS grants PREIT the relief it sought, allowing it to maintain REIT status. Today PREIT makes its overlooked "taxable REIT subsidiary" election retroactively effective as of Oct. 12, 2001.

PHILADELPHIA-For $97.56 per sf, the locally based retail REIT adds 328,000-sf Gallery at Market East II to the 193,000-sf adjacent property it acquired from Rouse Co. last April. In-line occupancy is 78.3%.