Business news in brief

PMC Property Group has bought the Center City office building that once served as headquarters for GlaxoSmithKline plc for $43 million from Equity Commonwealth, the Chicago-based real estate trust controlled by Sam Zell. PMC plans to convert the top two-thirds of the 24-story One Franklin Plaza building into rental apartments, with the lower stories being used for about 200,000 square feet of office space, Michael Margolis of Newmark Grubb Knight Frank said Friday. PMC, one of the city's biggest residential landlords, closed on the 607,474-square-foot building at 200 N. 16th St. on Tuesday, Margolis said. - Jacob Adelman

The CrossPoint at Valley Forge, a 272,360-square-foot office building in Wayne, has been acquired for $89.5 million by an affiliate of KBS Realty Advisors of Newport Beach, Calif. KBS Real Estate Investment Trust III closed on the Class A office building on Tuesday, said Michael Margolis, a Newmark Grubb Knight Frank senior managing director, who helped broker the deal. The building was constructed in 1974 and gut-renovated in 2014, KBS said in a statement. - Jacob Adelman

A&P has told nearly 4,000 workers at 45 supermarkets in New Jersey that they face layoffs on Thanksgiving. The Montvale-based supermarket company plans to sell the stores under its pending bankruptcy plan. Many of the stores are being sold to Stop & Shop and Acme Markets. The notices are required under state law. A&P in July told 867 workers at eight stores in New Jersey that they face layoffs on Sept. 19. United Food and Commercial Workers Local 464A president John Nicollai said the news was tough. "It's not numbers. It's people." - Associated Press

Should you find yourself in western Siberia in the near future, you'll be able to spot the Golden Arches. McDonald's Corp. is branching out into western Siberia after reaching a new agreement with a franchisee, the company said Friday. The burger giant, based near Chicago, has 500 restaurants in 125 cities in Russia. Now there will be 20 more in the Novosibirsk, Tomsk, Kemerovo, and Altay regions of Siberia. McDonald's signed the agreement with new development licensee GiD L.L.C. The vast majority of McDonald's restaurants in Russia are company-owned, spokeswoman Heidi Barker Sa Shekhem said. - Chicago Tribune