PHILADELPHIA-A public offering of two million shares of common stock, priced at $24.25 a share, is expected to provide $46.2 million in net proceeds after underwriting discounts. An over-allotment of 300,000 could add $6.9 million more.

PHILADELPHIA-By a 15-to-two vote, the council approved tax-free status for Liberty's Center City tower and a $150-million South Philadelphia produce terminal. The state has yet to act; Downtown owners continue to fight KOIZ for Liberty.

HUNTINGDON, PA-HL Libby Corp. of Wexford, PA sells Lake Raystown Shopping Center and Huntingdon Plaza to Cedar for $12.7 million. The centers aggregate 225,139 sf, and the buyer plans an expansion of at least 58,000 sf.

BLUE BELL, PA-The security solutions provider inks a 10-year lease, taking one of Mack-Cali's 95,010-sf, class A buildings here to 95.4% occupancy. The published rental rate for space in the two-building campus is $26.50 per sf.

HORSHAM, PA-The nation's leading luxury home builder will relocate from its 70,000-sf headquarters in Huntingdon Valley, PA and consolidate employees from there and outlying facilities to a three-story building here at 250 Gibraltar Rd.

BOOTHWYN, PA-Aston, PA-based Alloy Surfaces Co. adds a second location in the Philadelphia suburbs with the inking of a five-year lease at the office/warehouse property at 1515 Garnet Mine Rd. Aggregate rental exceeds $1.8 million.

PHILADELPHIA-Seeds for job growth in the high-pay services and bioscience sectors throughout the MSA will buoy renter demand, according to Marcus & Millichap. Yet, vacancy will inch up due to an excess of new supply.

PLYMOUTH MEETING, PA-Bank of America pays $10.4 million for an $8.2-million, 13.25% mortgage note receivable, secured by a mortgage on a Boca Raton, FL facility. Kramont also prepays a high-interest mortgage to replace it at a lower rate.