The Northern Pennsylvania partnership will be announced withinweeks, said Jerry Sweeney, president and CEO, during athird-quarter conference call. That portfolio encompasses betweenone million and 1.5 million sf in diverse building types and isvalued in the $240-million to $250-million range, he said.
As for the value of the fully leased, class A Cira Centre,Sweeney said, "we'll let the market determine that." Regarding thedevelopment of Cira Centre South, Sweeney said, "there are severalfunding options." They include pursuing JV participation inredevelopment of the 862,000-sf former postal facility, which isexpected to cost $265 million, including the $28-millionacquisition cost, and is fully pre-leased to the IRS; a hotelpartner for the hospitality portion of the Walnut Street tower anda residential developer for the 250-unit Chestnut Street tower.
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