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CBRE Global Snaps Up Two Center City Properties


CBRE Global Investors is reportedly going to acquire United Plaza and 1650 Arch St in Center City. The two properties, which total over 1.1M SF, are trading hands as a portfolio, and will sell for around $200M. TIER REIT (formerly Behringer Harvard REIT I) is the seller, according to the Philadelphia Business Journal. JLL has been marketing the buildings for sale. [PBJ]