Philadelphia

  • New York Firm Adds Fourth Center City Property

    PHILADELPHIA, PA—New York real estate investment firm Nightingale Properties has added its fourth Center City property with the acquisition of 1635 Market Street, a 19 story, 286,574 sq. ft. building that was originally developed as a regional headquarters for IBM.

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  • Weissman Joins Morgan Properties as Operations SVP

    KING OF PRUSSIA, PA—Morgan Properties has named Jeffrey Weissman, an industry veteran with extensive financial industry background, as its senior vice president of Operations.

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  • J.G. Petrucci Opens Manayunk Luxury Apartments

    MANAYUNK, PA—J.G. Petrucci Company Inc. has expanded its multi-family portfolio with the completion of The Station at Manayunk, a first-class 149-unit LEED certified luxury apartment community located at 1 Parker Avenue in Manayunk, Pennsylvania.

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  • Stockton College Acquires Showboat for $18M

    ATLANTIC CITY, NJ—The Richard Stockton College of New Jersey has purchased the former casino Showboat Atlantic City here for $18 million.

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  • Wallace Roberts & Todd Honored By AIA-PA for Pedestrian Promenade

    HARRISBURG, PA—Wallace Roberts & Todd, an integrated design firm of architects, landscape architects and planners, has received AIA Pennsylvania’s Architectural Excellence Award for the Hoover-Mason Trestle Steel Walk it designed as part of Bethlehem’s redevelopment of steel mill properties as cultural arts and entertainment spaces.

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  • Karmar Brokers Sale of Boothwyn Office Property

    BOOTHWYN, PA— Neltson Edison LP has acquired 5 Chelsea Parkway, a 53,733 square foot property on 10.5 acres in Boothwyn, PA. KarMar Realty Group, Inc. represented the buyer. Jim McCahon of Jones Lang LaSalle represented the seller, PX Properties LC.

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  • Revel Looking for Court Approval to Terminate Brookfield Deal

    ATLANTIC CITY, NJ—Attorneys for the Revel Casino Hotel will seek court approval on Friday in Camden, NJ to terminate its sale agreement with Brookfield US Holdings LLC so that it can pursue a deal with the second low bidder for the troubled gaming property.

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  • Morgan-Olayan JV Acquires 791-Unit Complex

    REISTERSTOWN, MD—A joint venture of King of Prussia, PA-based Morgan Properties and The Olayan Group of Saudi Arabia has acquired the 791-unit The Preserve at Owings Crossing rental apartment community here.

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  • Sales in Passaic, NJ and Chadds Ford, PA; Leases in Avenel and Teaneck

    Property sales in Passaic, NJ and Chadds Ford, PA, leases signed in Avenel and Teaneck, NJ, and Mack-Cali rewards shareholders with a dividend, all in this week's deal-tracker roundup.

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  • Wharton Buys Lancaster Shopping Center for $35M

    LANCASTER, PA—Eatontown, NJ-based Wharton Realty Group has acquired Manor Shopping Center, 1204 Millersville Pike, Lancaster, PA, from The Real Estate Equity Company (“TREECO”), Englewood, NJ, for $34.99 million. Brad Nathanson, executive vice president with CBRE’s Capital Markets Retail team, led the transaction for TREECO.

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  • Woodmont Gets Modernization Financing for Capital Logistics

    MIDDLETOWN, PA—Woodmont Industrial Partners has secured $32.9 million in financing for the modernization of Capital Logistics Center, a six-building, 1.55-million-square-foot industrial complex situated on more than 100 acres in Middletown, PA.

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  • PA Developer Proposes Massive Mixed-Use Project

    NEWARK, DE— Carlino Development Group of Wyomissing, PA is proposing to redevelop the Cavaliers Country Club next to the Christiana Mall here and build a mixed-use residential and retail development.

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  • Urban League Commits Job Training Funds in Philadelphia

    PHILADELPHIA, PA—The Philadelphia Urban League is to receive a five-year, $1 million community investment commitment from the national Urban League organization. The funds will support job-training for youth and mature workers, college preparation, a jobs network, entrepreneurship support, small business financing and resources, and tax credits, among others.

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  • Liscio’s Bakery Acquires 107K SF Manufacturing Facility from ADM

    GLASSBORO, NJ—Liscio’s Bakery, encouraged by $13.5 million in Grow New Jersey tax incentives, is nearly tripling its manufacturing facilities in Glassboro with the acquisition of a 107,364-square-foot industrial building formerly owned by Archer Daniels Midland at 600 Ellis Street in Glassboro, NJ.

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  • PREIT Completes Sale of Whitehall Mall in Allentown, PA

    PHILADELPHIA, PA—Pennsylvania Real Estate Investment Trust has sold several properties including its 50% interest in Whitehall Mall in Allentown, PA, with an aggregate transaction value of $25 million.

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  • GlaxoSmithKline Restructuring a Mixed Bag for Philly Region

    PHILADELPHIA—Hard details on lost jobs and new jobs coming to the region will likely become clearer in time as GlaxoSmithKline undertakes a consolidation of its research operations to suburban Philadelphia locations, but also implements job cuts at its commercial pharmaceutical operations here.

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  • Accesso Acquires 1515 Market St. For $85 Million

    PHILADELPHIA —Accesso Partners LLC has acquired 1515 Market St., a 20-story, half-million square-foot office tower in downtown Philadelphia that houses Temple University’s Center City campus, for $85 million.

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  • Hatzel & Buehler Extends Lease for 8,430 SF at Ten Penn Center

    PHILADELPHIA, PA–Hatzel & Buehler, the nation’s oldest electrical construction company, has renewed and expanded its lease for approximately 8,430 square feet at Ten Penn Center, 1801 Market Street, Philadelphia, PA.

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  • Exton Corporate Center Announces Three New Tenants

    KING OF PRUSSIA, PA–Willner Properties has signed three new tenant leases at the Exton Corporate Center located at 102 Pickering Way in Exton, PA with Lee Johnson & Associates, Supreme Lending and Trinity Consultants. The class-A, 80,000 square foot, five-story building recently completed the first phase of interior and exterior renovation.

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  • One & Olney Square Sold to Wharton Realty

    PHILADELPHIA, PA—The Feil Organization, managing partner of the partnership of Feil, Chera & Goldman, has sold One & Olney Square, a Shop Rite-anchored center in North Philadelphia, to Wharton Realty Group for an undisclosed sum.

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