PHILADELPHIA-The overall retail vacancy rate in the Philadelphia MSA is expected to crest at 9.3% this year, while rental rates climb to an average of $17.10 per sf, according to research from the local office of Marcus & Millichap.
PHILADELPHIA-The provider of clinical research services to pharmaceutical companies will relocate from North Wales, PA, to the larger office facility at Pennbrook Business Center in November. Merck is among the tenants at the 80-acre campus, which can accommodate 750,000 sf.
PHILADELPHIA-The 243-bed Elkins Park and 200-bed Parkview acute-care facilities may be sacrificed in a round of cost cutting by their Santa Barbara, CA-based owner. Tenet acquired them in an eight-property portfolio in 1998. Plans call for their sale, conversion or consolidation.