BOSTON-Heritage Property Investment Trust Inc., a locally based REIT that specializes in shopping centers, raises $450 million in an initial public offering on the New York Stock Exchange with the shares closing at $25.05. The company owns three shopping centers in the state.

WILMINGTON, MA-Carlisle Capital Corporation purchases three flex/industrial buildings from The Archon Group for $10.9 million. The single story multi tenant buildings are located at 220, 230 and 240 Ballardvale Street near Interstate 95 and Route 125.

BOSTON-In a move that its developer calls a testament to the viability of the Seaport district as an office location, Seyfarth Shaw more than doubles its space at the World Trade Center East.

CAMBRIDGE, MA-Representative Michael Capuano files legislation in Congress that would allow the government to turn over a portion of its 14.3-acre parcel in the Kendall Square area to the Cambridge Redevelopment Authority for development of housing and open space.

BOSTON-Haircolorxpress International, a salon franchise chain based in Fort Lauderdale signs a development agent contract with Haircolorxpress Development of Massachusetts Inc. The agents have committed to opening 90 area salons over the next eight years.

NEW BEDFORD, MA-WP Realty purchases Fieldstone Marketplace, a 188,946-sf retail center at 950 Kings Highway for $15.7 million from Columbus-based Nationwide Insurance Co. The local retail market has remained relatively stable despite the recent recession.

CAMBRIDGE, MA-Harvard University's proposal to develop a tunnel underground to connect two buildings it is planning to build is being met with opposition from local residents. The university is working on a construction mitigation plan.

NORWOOD, MA-$13.2 million in permanent financing has been arranged for Norwood Park South office park, a three-building, 147,000 sf office complex. Principal Capital provided the funding on behalf of ND Norwood Park South LLC.