Philadelphia Media Network Inc. announced The Inquirer and The Daily News's joint move to renovated space in the old Strawbridge & Clothier store at 801 Market St. The move is slated to take place by July 2012. Pennsylvania Real Estate Investment Trust (PREIT) is leasing the space for 12 years and six months. The new space constitutes shrinkage for the two newspapers, which go from occupying 525,000 square feet at their current 400 N. Broad St. home to 125,000 square feet on the third floor of the new building. Ballard Spahr real estate partners Michael Sklaroff and David Gifford are representing PREIT in the move.

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