Leasing

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.

PHOENIX-MEGA Life and Health is taking over 75,011 sf in the 138,000-sf Concorde Corporate Center in a 10-year lease. A company, bought earlier in the year, will be consolidating its offices into the single location and gaining some room in the process.

PORTLAND-A division of freight hauler Schneider National takes one-third of the smaller building at the first phase of Rivergate Corporate Center, a 488,000-sf speculative project by Multi-Employer Property Trust. A 400,000-sf user may soon help launch the 607,000-sf second phase of the development.

PHILADELPHIA-The US sales and distribution arm of the Germany-based athletic footwear and apparel supplier fills three of five buildings owned by Aurora, CO-based ProLogis at Airpark Distribution Center on I-275 and Route 20.

NEW YORK CITY-During an event held here late last week, three real estate appraisal experts explained the harsh realities facing valuations of Lower Manhattan real estate. Unfortunately, said the experts, a turnaround in property assessments is not in the foreseeable future.

HOLLYWOOD, CA-The Motion Picture Hall of Fame will lease 50,000 sf at the 6300 Hollywood Blvd. building, which occupies one of the film community's storied intersections. The building is owned by Meringoff Equities.