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.

HARRISBURG, PA-"We believe the hotel industry is poised for a recovery," says Jay Shah, president and COO, as he releases the hospitality REIT's preliminary fourth-quarter and 2003 results. Fourth-quarter occupancy rose 3.7%.

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-With office supply outstripping demand, "there is a prime opportunity to enact uniform, rather than selective tax benefits and incentives to leverage future Center City business growth," says the head of CBRE's Philadelphia region.

PHILADELPHIA-Two properties aggregating 32,928 sf of retail and office space along Market Street between 9th and 10th obtain approximately $4.6 million in permanent financing, secured by LJ Melody's local office at a 6.41% rate of interest.

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-In a renewal valued at $2.7 million, Alfa Laval, the biochemical products suppliers' new Sweden-based parent, extends the locally based company's lease for 28,660 sf in the 21-story building at 1635 Market Street.

WEST WHITELAND TWP., PA-A cabinet manufacturer pays $1.8 million for two office/flex suites in Valley Creek Industrial Park. Asking price for two office/flex units totaling 13,473 sf in Clover Mill Commerce Center is about $1.1 million.