PHILADELPHIA-Having passed a slew of approvals, 10 Rittenhouse Square, a 33-story, 150-unit condo at the northwest corner of the park breaks ground in 30 days. Luxury by any measure, its top unit has an $8.5-million price tag.

HORSHAM, PA-Nathan Kornfeld ascends to the newly created COO post of GMAC Institutional Advisors and retains his EVP title. Michael Joyce, a former managing partner of Deloitte & Touche, joins Plymouth Meeting, PA-based Brandywine's board.

PHILADELPHIA-Binswanger/Realen Properties and Liberty/Nolen Co. drop from the short list of joint-venture teams that submitted preliminary plans for the 131-acre former hospital site, leaving Berwind/Realen Homes, Brandywine/Westrum, and Preferred/Pulte as finalists.

PHILADELPHIA-Philadelphia Industrial Development Corp. sells a 19.5-acre parcel on Essington Ave. to Lenexa, KS-based MDC, which develops facilities for the courier company. Plans call for a 215,000-sf structure with room to expand.

BETHLEHEM, PA-Vacancy finishes first quarter 2004 at 12.8%, a 27.2%drop from first quarter 2003, according to Trammell Crow data. Despite this, rental rates fall to $3.74 per sf, 12% below first quarter a year ago.

DOWNINGTOWN, PA-Rental rates for first-floor office space in Tripoint Properties' mixed-use, five-building redevelopment, located Downtown at the former site of Bickings and Kardon paper mills, ranges between $12 and $13 per sf.

PHILADELPHIA-In efforts to pull the switch on tax-break legislation for Liberty's One Pennsylvania Plaza, owners of major Downtown buildings are turning off all but safety lighting, dimming the skyline until KOIZ status is denied.

PHILADELPHIA-Michael Brower, formerly with Cushman & Wakefield of Pennsylvania, joins Berwind Property Group as VP. Demands of growing Orleans Homebuilders, prompts its chairman and CEO to resign as a trustee of the retail REIT.