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SPRINGFIELD, PA—As part of its ongoing portfolio repositioning, Pennsylvania Real Estate Investment Trust has sold its 50 percent interest in Springfield Park, an open air center located in Springfield, PA, for $20.2 million.
SUMMIT, NJ—Wood Partners has opened an office in Summit, NJ, where the firm's newly named vice president of development, Peter B. Lijoi, an attorney and 32-year Summit resident, is spearheading the firm's efforts to acquire sites permitting the construction of multifamily housing ranging from 150 to more than 500 homes.
CHICAGO—Developer Royal Imperial Group has just appointed NGKF as the leasing agent for the West Side property and officials say it will provide modern space at a significant discount when compared to similar space in the CBD.
PARSIPPANY, NJ—Inventory remains tight and tenants are searching farther afield for quality New Jersey industrial space, Transwestern says in its second-quarter industrial research report.
GREENWICH, CT—The industry veteran brings a host of international experience to the firm, where he previously served as global head of asset management.
AUSTIN, TX—Together with development partner RedLeaf Properties, Austin Community College has tapped Greystar Real Estate Partners to build a multifamily complex here; groundbreaking is slated for fall.
NEW YORK CITY—The example of Annaly Capital Management, which recently hired a team from GE Capital Real Estate, provides a template for other mREITs, says Kroll Bond Rating Agency.
ATLANTA—"This property is exactly the type of product we are seeking to acquire for our fund: value-added office properties in key infill markets with extremely strong fundamentals.