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JOPLIN, MO—After the one of the deadliest tornadoes in US history, the city of Joplin needed to replace its hospital, but this time it needed one that would withstand the storm.
CHICAGO—Although costs for raw materials will stabilize in 2015, labor costs will rise for at least several years as builders try to find workers with the right skills and training.
PHILADELPHIA, PA–Penn Medicine University City has agreed to expand into an additional 56,000 square feet or two entire floors at the recently opened 3737 Science Center Building. With this lease expansion, the anchor tenant will occupy 267,800 square feet in the 13-story laboratory and office building at 3737 Market Street in Philadelphia, and the building is fully leased.
PARSIPPANY, NJ–Colliers International has arranged the $14.1 million sale of Intel Corporate Center located at 1515 Route 10 in Parsippany, NJ. Market participants suggest that the affiliate of Stanbery Development that acquired the property may want to redevelop it as a lifestyle retail center that also includes some office space.
CHATHAM,NJ—DTZ has negotiated a 63,500 square foot lease for Global Essence, a provider of high-quality natural ingredients for fragrance, flavoring, beauty and household products at 8 Marlen Drive in the Hamilton Business Center in Hamilton, NJ.