Philadelphia

  • Arden Group Buys Tampa Hotel, Plans Renovation

    TAMPA, FL—Philadelphia-based Arden Group has acquired the InterContinental Hotel Tampa Westshore here and plans to undertake a $7-million renovation at the property.

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  • Willner Properties Signs Two New Medical Office Tenants at Springfield Plaza

    KING OF PRUSSIA, PA—Willner Properties recently finalized two new leases at Springfield Plaza located at 130 South State Road in Springfield, PA. Moore Eye Institute and the Institute of Spine and Pelvic Pain Interventions & Rehabilitation leased a total of more than 3,600 square feet. Springfield Plaza recently completed a capital improvement project that features refreshed common areas, signage upgrades and a new roof.

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  • Delia’s Retains A&G to Liquidate Hanover, PA DC and Store Leases

    HANOVER, PA—In the wake of its recent Chapter 11 bankruptcy filing, clothing retailer Delia’s Inc. has retained A&G Realty Partners to manage the sale of its 71 retail store leases and the fee owned 435,765-square-foot distribution center in Hanover, PA.

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  • LMS Commercial and Paramount Merge in Central PA

    LANCASTER, PA—LMS Commercial Real Estate, a private family-owned, full service commercial real estate company based in Lancaster, PA, has merged with Paramount Realty Services, Inc. of Lakewood, NJ, bringing Paramount to the Central Pennsylvania region. LMS Commercial Real Estate arranged the sale of more than 30 assets, encompassing 2 million square feet, to affiliates of Paramount Realty.

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  • Sklow Jumps from Liberty to Keystone

    PHILADELPHIA, PA–Thomas J. Sklow, a 20-year veteran of real estate development, leasing, and management, has left Liberty Property Trust to join Keystone Property Group, where he will be vice president of development and leasing, responsible for overseeing Keystone's New York, New Jersey, and Connecticut office properties.

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  • Lubert-Adler Fund Sells Atlanta Multifamily

    ATLANTA—Cocke Finkelstein Inc. has purchased the 18-story Solace on Peachtree multifamily development here. The 18-story apartment tower was purchased from Lubert-Adler Real Estate Funds of Philadelphia.

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  • Procida Provides $16.2M Loan for Blumenfeld’s Mural Arts Lofts

    PHILADELPHIA, PA—Developer Eric Blumenfeld will begin renovation soon to turn the landmark Thaddeus Stevens School into a luxury rental complex called the Mural Arts Lofts building.

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  • City’s Fortunes a ‘Roller Coaster,’ Says Mayor Guardian, But 'Stars Are Aligning'

    ATLANTIC CITY, NJ—Atlantic City’s fortunes over the past several decades has seemed like a “roller coaster,” but Mayor Donald Guardian is convinced that “the stars are aligning for Atlantic City.” The mayor spoke exclusively to GlobeSt.com at an Urban Land Institute breakfast. Watch a video of our conversations with Mayor Guardian, Collingswood, NJ, Mayor James Maley, and former Pittsburgh Mayor Thomas Murphy.

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  • Banker Terlizzi, RealShare Philadelphia Panelist, Says City Will Be ‘Crown Jewel’

    PHILADELPHIA, PA—Philadelphia is poised to become a “crown jewel” in the investment portfolios of real estate developers over the next decade, says veteran commercial real estate banker Christophe P. Terlizzi, one of the panelists featured at ALM’s RealShare Philadelphia Conference February 10 at the historic Union League Club. Learn more about the RealShare Philadelphia conference agenda.

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  • PREIT Calls JCPenney Closure ‘Significant Opportunity’

    VINELAND, NJ—PREIT says the announced closing of the 51,000-square-foot JCPenney store at Cumberland Mall in Vineland, NJ gives the real estate investment trust a “significant opportunity to add value” at the regional mall.

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  • UK's Primark Leases 677K SF Lehigh Valley DC

    BETHLEHEM, PA—CBRE has brokered the lease of 2485 Commerce Center Boulevard, a 677,088 square feet facility within Lehigh Valley Industrial Park VII to UK retail company Primark. The property will serve as Primark's primary east coast distribution facility as the company makes its first venture into the United States.

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  • Marcus & Millichap Execs Jump to CBRE

    PHILADELPHIA, PA–CBRE says Marcus & Millichap executives Matthew Gorman, Michael Shover, and Stephen Schrenk joined its Investment Properties/Retail division in the greater Philadelphia area, with a focus on net lease transactions. Gorman and Shover join as senior vice presidents, and Schrenk as sales associate.

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  • Gebroe-Hammer Completes Sales of 1,045 MF Units in 4Q

    LIVINGSTON, NJ–Gebroe-Hammer says its investment brokerage activity in Northern New Jersey and Pennsylvania remained brisk in the final quarter of 2014. During the last three months of the year, the firm’s area market specialists arranged sales involving 1,045 units.

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  • Rubenstein, Nordblom Partnership Buy Boston Office Building

    BOSTON—Affiliates of Rubenstein Partners, L.P., and partner Nordblom Co. have acquired the 1000 Washington St. office building here for $75 million.

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  • Hotel Changes Flags to DoubleTree by Hilton

    CRANBERRY, PA—A former Four Points by Sheraton opened on Friday under a new flag—the DoubleTree by Hilton Pittsburgh-Cranberry.

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  • CBRE Brokers $41M Shopping Center Sale in Monaca, PA

    MONACA, PA—CBRE has brokered the $41.12 million sale of Township Marketplace, a power center in Monaca, PA to American Realty Capital.

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  • WCRE Brokers $2M Warehouse Sale in Pureland Complex

    BRIDGEPORT, NJ—WCRE arranged the sale of 600 Heron Drive, Bridgeport, NJ to 602 Heron Drive, LLC for $2 million. The new ownership group purchased the vacant warehouse facility from Omega Engineering, Inc.

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  • ACE Mentor Program Names Architect Healy to Board

    The Eastern Pennsylvania Affiliate Chapter of the National ACE Mentor Program has named Joseph W. Healy, AIA, LEED AP BD+C, a managing principal of Wallace Roberts & Todd, and an advocate of sustainable design, to its board.

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  • Developer Looks to Finish Redevelopment of Unisys Complex

    BLUE BELL, PA—Corporate Office Properties Trust is on the cusp of beginning the final stage of the redevelopment of the former Unisys campus here now called Arborcest.

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  • Sovereign Capital Asserts that 1818 Market Property is Financially Strong

    PHILADELPHIA, PA—Despite recent reports of Chapter 11 bankruptcy filings by three former fractional owners of 1818 Market Street, Sovereign Capital Management Group says the Center City Philadelphia trophy asset remains on solid financial footing with occupancy rates of more than 90%. The 37-story, class-A office building is in escrow for sale to San Francisco-based Shorenstein Properties.

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