PHILADELPHIA-A fourth-quarter survey of lenders by Phoenix Management Services finds widespread belief the US is experiencing significant over-valuation of real estate. If the bubble bursts, they warn, fallout will affect both the commercial and residential markets.

PHILADELPHIA-Eight of the 12 Tastykake thrift stores closed by the locally based baking company this weekend are at shopping centers in Pennsylvania, including Progress Plaza in North Philly and Grand Plaza II northeast of the city.

PHILADELPHIA-The Media, PA-based real estate company is named exclusive agent for two commercial land parcels in Chester County and five in Delaware County. They cover an aggregate 24.45 acres and also include two parcels totaling 50,000 sf.

PHILADELPHIA-In separate transactions, a Subaru dealership in Media, PA, a 130,000-sf office/industrial complex in Delaware County, PA, and an eight-acre commercial site in Concordville, PA, sell for an aggregate value in excess of $5 million. Media-based KarMar is the broker.

PHILADELPHIA-In one of the biggest real estate deals here this year, the New York-based REIT pays $183.76 per sf for the 17-story, class-A office property at 3535 Market St. in University City's Technology Park. The 435,352-sf building is 96% leased.

PHILADELPHIA-Bala Cynwyd, PA-based American Business Financial Services closes the public/subordinated mortgage loan funding through lead manager Credit Suisse First Boston and co-manager Bear Stearns. The securities are not guaranteed, but 87% are rated AAA by S&P and Moody's.

PHILADELPHIA-The 123,500-sf former plastics polymer manufacturing facility on 11 acres in Delano, PA in Schuykill County, which has been on the market for several years, sells for a bargain $1.075 million, or $8.70 per sf.

PHILADELPHIA-Although net absorption of industrial space remains negative, overall industrial vacancy in the four suburban counties is 10.5%, and direct vacancy is 9.6%, a range that has held for the past seven quarters.