Philadelphia

CHESTER, PA—Construction and engineering firm Day & Zimmermann will open a new office here that will create 98 new jobs over the next three years.

PHILADELPHIA, PA—Space reduction and relocation in the form of “rightsizing” continues to guide the office strategy for the US legal sector, according to a new research report from Jones Lang LaSalle.

Four Philadelphia based industry heavyweights cited unfavorable tax policy, the crumbling public school system in Philadelphia, political inertia, and lack of job growth as reasons why commercial development has eluded the Center City area.

PHILADELPHIA, PA—The 24-hour city, envisioned two decades ago as "the key to superior investment performance," is coming to fruition and spreading to downtown districts far beyond the traditional coastal, urban core cities, according to the latest Emerging Trends in Real Estate, an annual report prepared by PriceWaterhouseCoopers and the Urban Land Institute. PWC and ULI briefed the Philadelphia commercial real estate community on the 2015 report at a morning seminar in Philadelphia November 21.

SHIPPENSBURG, PA—ARC Real Estate Group, a private, New York-based family office, acquired a 139,535-square-foot, single-tenant, triple net-leased retail property fully occupied by Lowe's Home Improvement at 250 S. Conestoga Dr. in Shippensburg, PA for $24.35 million.

ATLANTIC CITY, NJ—Trump Entertainment and Atlantic City reached an agreement on Tuesday that allows the city to recoup $22 million in unpaid taxes on the Taj Mahal and Trump Plaza properties. The deal also allows Trump Entertainment to pursue legal claims to lower the tax debt.