PHILADELPHIA-In the largest new lease deal Downtown this year, encompassing 125,000 sf at the former Strawbridge & Clothier building at 801 Market St. and 36,472 sf at Two Commerce Square, the Providence, RI-based company makes Philadelphia its eastern Pennsylvania headquarters.

PHILADELPHIA-The first $50-million installment of a 10-year, $500-million fund devoted entirely to stimulate technology business growth in Ohio is up for grabs. It will fund construction of Wright Centers of Innovation in bioscience and four other areas of advanced technology.

PHILADELPHIA-A day after moving its former head of European operations to a new marketing post, the Horsham, PA-based commercial holding group promotes James A. Dalton to president of GMAC Commercial Mortgage Europe. Dalton previously headed the company's proprietary lending group.

PHILADELPHIA-The Horsham, PA-based commercial mortgage lender promotes Barry Alan Moore, former president of its European operations, to a newly created position that includes marketing and corporate communications. Moore is a 24-year veteran of the commercial real estate and finance industry.

PHILADELPHIA-Corporate accounting scandals and a volatile stock market cause institutional investors to sock more money in REITs during the last quarter. According to research by Ardmore, PA-based Gregory FCA Communications, their stake in REITs rose 6.5% over the previous quarter.

PHILADELPHIA-The city's division of aviation pays $23.58 per sf for the Chicago-based consumer product conglomerate's former meat processing plant. It is on eight acres on Executive Ave., adjacent to Philadelphia International Airport.

PHILADELPHIA-The Johnstown, PA-based REIT's tenants' average sales per sf beat the national average. Meanwhile, net operating income increased 2% in third quarter, based on a 4.1%-rise in base rents compared with third-quarter 2001, and a 1% increase in mall shop occupancy.

PHILADELPHIA-Four recent leases totaling 55,000 sf are signed at class-A office buildings in the surrounding suburbs. The tenants represent a mix of expansion, renewal and newcomers at properties owned by King of Prussia, PA-based O'Neill Properties and Cranford, NJ-based Mack-Cali.