WEST CONSHOHOCKEN, PA-Gail Force Inc., formerly headquartered in the Aramark Tower in Center City Philadelphia, leases 7,400 sf at 300 Four Falls here. The lease is valued in excess of $1 million.

WEST CONSHOHOCKEN, PA-The REIT agrees to issue 2.2 million shares of 7.375% series E cumulative redeemable preferred stock at $25 a share. The close of the offering is scheduled for March 15.

YORK, PA-The property management and development firm establishes a subsidiary to focus on third-party brokerage and property management, including office, industrial and retail facilities in Pennsylvania and the Mid-Atlantic region.

PHILADELPHIA-The acquisition adds 65 offices in Pennsylvania and Maryland to the locally based financial institution's 535 locations in seven states. Of outstanding Waypoint shares, 70% will be exchanged for Sovereign stock and 30% for cash.

PHILADELPHIA-The local developer is selected to construct a 31-story, 167-unit condo tower, garage, ground-floor retail, and new 450-seat theater along the "Avenue of the Arts" between Lombard and Pine streets.

PHILADELPHIA-In an address to the Chamber of Commerce, for the first time Mayor Street supported tax-free zoning for Liberty's planned 57-story tower, expected to house Comcast. He also promised a $500-million, four-year development fund.

PHILADELPHIA-The Sweden-based producer of hygiene products will relocate its North American headquarters from Eddystone, PA to 75,000 sf in Brandywine's new tower in University City next to Amtrak's 30th Street Station.

STATE COLLEGE, PA-College Park Parkway Plaza, a 428-unit, two-building complex, occupied primarily by Penn State University students, sells to Copper Beech Townhome Communities here for about $19.4 million, or $45,455 a unit.