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The joint venture is acquiring a class-A trophy property in Philadelphia's central business district that is one of the city's most iconic office developments.
The avenue with a global reputation for high-end shopping took another hit as the fashion brand shuttered its doors underscoring its focus on digital customers.
Valley National announced on Feb. 13 it planned to engage in a sale/leaseback on a total of 29 properties that includes 28 branches and one corporate location for a total aggregate purchase price of approximately $107 million.