Philadelphia

  • ARC Purchase Sets Price Record for PA Lowe’s Location

    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.

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  • Trump Entertainment, Atlantic City Reach Tax Deal

    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.

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  • Hillwood Acquires 95-Acre York County, PA, Site

    EAST MANCHESTER TOWNSHIP, PA—Texas-basedHillwood Investment Properties has acquired a 95-acre tract in East Manchester Township, York County, PA within the township’s Industrial Zoning District. The site is approved for a 1.2-million-square-foot class A industrial building which Hillwood plans to build on a speculative basis.

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  • Shopping Center Trades for $53M

    PHILADELPHIA—Wharton Realty Group of Eatontown, NJ has acquired the One & Olney Square shopping center in North Philadelphia for $52.5 million.

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  • Levin Management Inks Simply Fashion at Liberty Center I in Erie, Pa.

    ERIE, PA—Discount women’s clothing retailer Simply Fashion has leased 5,800 square feet of space at Liberty Center I, re-joining the tenant mix at this key northwestern Pennsylvania shopping destination. Levin Management, exclusive leasing and managing agent for the 227,000-square-foot shopping center, announced the lease.

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  • Woodmont Sells 34 Dauphin Drive in Central PA

    MECHANICSBURG, PA—Woodmont Industrial Partners has sold 34 Dauphin Drive, which it acquired two years ago, to Exeter Property Group for $8 million.

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  • Canadian Firm Walks Away From Revel Buy

    ATLANTIC CITY, NJ—Issues related to Revel Casino-Hotel’s power plant have apparently pulled the plug on Brookfield US Holding LLC’s $110-million purchase of the shuttered gaming facility here.

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  • Chambers Street Buys KBS I-81 Industrial Portfolio in PA

    PITTSTOWN, HAZLETON, and JESSUP, PA—KBS Real Estate Investment Trust II, a non-traded real estate investment trust based in Newport Beach, CA, has sold I-81 Industrial Portfolioin eastern Pennsylvania to Chambers Street Properties, a Princeton, NJ REIT focused on acquiring, owning and operating net leased industrial and office properties.

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  • Icahn Acquires Storied Coking Property

    ATLANTIC CITY, NJ—Billionaire investor Carl Icahn has acquired the home of Bob Guccione and Donald Trump nemesis Vera Coking at 127 S. Columbia Place here.

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  • King Of Prussia Mall Unveils Major Expansion Plans

    KING OF PRUSSIA, PA—Simon Property Group will connect The Court and The Plaza of King of Prussia Mall, Pennsylvania's top retail attraction and the second largest shopping center in the United States. The two retail areas have been separated by a roadway since their initial construction.

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  • Keystone NAP to Launch First Advanced Data Center in the Northeast

    FAIRLESS HILLS, PA—Keystone NAP will launch the first advanced data center in the Northeast capable of meeting the needs of today's web-scale enterprises. The center is expected to open in the first quarter of 2015.

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  • Malvern Office Building Trades for $23M

    MALVERN, PA—Hayden Maguire Real Estate Funds has purchased 1200 Atwater Drive here for $23 million.

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  • Stan Johnson Co Sells Vineland, NJ Healthsouth Property

    VINELAND, NJ—Stan Johnson Company has completed the sale of a 37,660 SF Vineland, NJ, medical property to Lexington Realty Trust for $19.1 million.

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  • Council Hearings Set to Plot Utility’s Future

    PHILADELPHIA—Operating on the assumption that the proposal to sell the Philadelphia Gas Works is dead, the City Council held a hearing on Thursday that is scheduled to be continued today on what course the city should embark on for its embattled utility.

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  • Camden Cancer Hospital Earns USGBC-NJ Emerald Award

    CAMDEN, NJ--The MD Anderson Cancer Center at Cooper was built to create hope for the environment as well as for its patients. The center has been recognized by the US Green Building Council’s New Jersey Chapter for setting a new standard for sustainability among health care facilities.

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  • Stockton College Plans to Buy Shuttered Showboat Casino

    ATLANTIC CITY, NJ—Officials with Richard Stockton College and Caesars Entertainment Corp. announced on Wednesday that the college intends to acquire the shuttered Showboat Atlantic City casino and repurpose the property as a branch campus.

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  • Keystone Names SVP Richard Gottlieb A Partner

    BALA CYNWYD, PA—Keystone Property Group named Richard S. Gottlieb, its senior vice president of Operations and Development, a partner at the firm.

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  • Shaner Hotel Holdings Secures $227M CMBS Loan

    STATE COLLEGE, PA—Locally-based hotelier Shaner Hotel Holdings L.P. has closed on its $226.6 million commercial mortgage-backed securities loan with JP Morgan Chase. The firm says the deal paves the way for the company to reposition and expand its hotel portfolio.

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  • ULI Philadelphia Holding 15th Annual Emerging Trends Conference

    PHILADELPHIA, PA— Mitchell M. Roschelle, national business leader, Real Estate Business Advisory Services for PriceWaterHouseCoopers, will present PWC’s Emerging Trends in Real Estate at The Urban Land Institute Philadelphia’s 15th annual Emerging Trends Conference on November 21. The program takes place at 7:30 a.m. at the Union League of Philadelphia.

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  • State Offers $107M for Lockheed Martin Lab Project

    TRENTON, NJ—The state’s Economic Development Authority approved an incentive package totaling $107 million for Lockheed Martin’s proposed project in Camden.

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