PHILADELPHIA-Targeting Philadelphia as an "undervalued market with significant potential for growth," Ashforth Co. buys a majority interest in 1818 Market Street and begins a $5-million upgrade. Area brokers estimate the deal establishes the property's value at $109 million.

AUSTIN-SpawGlass Contractors, now working on Austin's Convention Center, gets the keys to the training center for the electricians' union and an affiliate trade association. The union was seeking $750,000 after it vacated for triple the space at a build-to-suit.

PHILADELPHIA-Just as the state legislature is about to consider authorization of a $232-million grant to fund expansion of the Pennsylvania Convention Center, a local civic association urges lawmakers to turn down the request until the Convention Center Authority implements change.

MIAMI-One Miami Group has sold one-third of its prime nine-acre tract for $6.7 million per acre ($153 per sf)and has the remaining two-thirds under contract to another big-name developer.