PHILADELPHIA-Experts except the market here will experience renewed energy. A number of tenants are searching for large blocks of space and a few well-known projects are due to come online.
MARATHON, FL- Boykin Lodging Co. acquires the Banana Bay Resort & Marina-Marathon through a joint venture from a local seller, Banana Bay Resorts. As part of the redevelopment, the resort's 65 hotel rooms will be converted into 58 two-bedroom rooms, each with two and a half baths.
BOCA RATON-The company, which recently expanded into Hong Kong and China, will continue to be incorporated in Ohio, but will exit its Mayfield Heights, OH facility.
MCCONNELLSBURG, PA-In one of three projects, the company plans to construct a new 35,000-sf research and development facility at its headquarters here. The projects are expected to create and retain more than 3,000 jobs in Bedford, Fulton and Cumberland counties within three years.
PHILADELPHIA-Area experts expect the office vacancy rate in suburban Philadelphia will continue to decline. It's possible it will even go below 15% in the next six months due to an increase amount of construction.
NEW YORK CITY-When the year is done, RevPar growth in 2005 will be the highest since 1984, according to PricewaterhouseCoopers LLP's annual lodging industry report and forecast. International travelers are once again returning to US shores in greater numbers.
