Philadelphia

Four Corners Property Trust has signed a definitive agreement for the purchase of 14 outparcel properties from PREIT for $29.9 million, priced at a 6.5% going-in cash cap rate, exclusive of transaction costs.

Grady has been with PIDC, the non-profit, economic development partnership founded by the city and Chamber of Commerce, for 21 years.

"Northerners and other homebuyers are not just purchasing second homes; they are bringing businesses and moving here full time," says MIAMI Chairman of the Board José María Serrano.

The project, which is scheduled to be completed in November 2020, has already secured a 130,000-square-foot lease with global private market asset management firm Hamilton Lane, which will begin occupancy of its space at the property in 2021.

American Water also announced it had reached an agreement to sell its Keystone Clearwater Solutions operations of Hershey, PA to SC Water LLC, a College Station, PA-based natural gas and oil industry investment group.

Fiumara's promotion marks just the third time that a CBRE sales professional in the greater Philadelphia region and New Jersey region has achieved the vice chairman status.

The Phoenix-based firm reports it has acquired One Crescent Drive, which totals more than 76,000 square feet and the 80,050-square-foot 201 Rouse Boulevard office building from Liberty Property Trust.

Philadelphia now joins San Francisco, New York City, Cleveland and Newark, NJ in the right to counsel movement. Similar legislation is advancing in Detroit, Los Angeles, Denver, and other cities across the country.