Globest Sectors

PHILADELPHIA-In Pennsylvania, a building owner may rent an abandoned space for the previous tenant's benefit, but that tenant remains liable for any rent deficiency.

NEW ORLEANS-Strategic Hotels & Resorts decides to sell the shuttered CBD asset to a local partnership for $32 million. The pass is set to be made by year's end.

FORT WORTH-USAA starts work on a 428,400-sf distribution center to get spec on the ground while turning up the heat on building out the 633-acre Railhead Industrial Park.

WALTHAM, MA-The 165,000-sf commitment fills the speculative class A office building being developed by Boston Properties.

NEW YORK CITY-The team is to be led by Leonard Brumberg, and will oversee malls in seven states.

CHICAGO-Fifield Cos. is starting construction this month on two apartment towers, with a total of 857 units, as part of its $750-million K Station development.

ANN ARBOR, MI-The pizza chain blames increased interest expense 'a continued challenging domestic environment.'

HOUSTON-Birchmont Capital Advisors, with two unrelated partners, ponies up about $172 million for class B complexes in Houston, Dallas, Fort Worth and San Antonio.