NEW YORK CITY—The uptick in construction will mean a vacancy increase by year's end, says Marcus & Millichap, even so, apartment vacancies here remain historically low.

GLOUCESTER TOWNSHIP, NJ—Simon Property Group opened its Gloucester Premium Outlets, a new retail destination in Southern New Jersey, serving the Philadelphia market with an array of high-end fashion stores. Simon COO Mark Silvestri says the firm saw a "hole in the market" in South Jersey it wanted to fill.

CHICAGO—The company and its joint venture partner may have sold much of Wicker Park Commons, but say the rising neighborhood can now support creative office space.

ALEXANDRIA, VA—Empty for several years, the Victor Center Building has been a repeat competitor in several deals and was thought to be keeping rates down in bids. Now that we know the total value of the lease is $292.5 million, we can see why that was suspected.