Philadelphia

  • HFF Secures $54.7 Million Financing for Pittsburgh Office Campus

    PITTSBURGH, PA–HFF arranged $54.65 million in financing for the Allegheny Center Office Complex, a three-building campus totaling 1.22 million square feet on Pittsburgh’s North Shore, which owner Faros Properties says will be extensively renovated.

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  • CBRE Brokers $24.5M Lawndale Plaza Sale in Philadephia

    PHILADELPHIA, PA–CBRE has brokered the $24.5 million sale to Cedar Realty Trust of Lawndale Plaza, a 93,282 square foot ShopRite-anchored retail center at the intersection of Oxford Avenue and Levick Street in Philadelphia, PA.

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  • Keystone Relocates HQ to Conshohocken

    CONSHOHOCKEN, PA–Keystone Property Group has relocated its offices to SORA Conshohocken at 125 East Elm Street from its former headquarters in Bala Cynwyd. Keystone recently acquired SORA, a multifaceted transit-oriented redevelopment initiative located in the gateway of Conshohocken.

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  • Binswanger and BIDA Broker Bloomsburg, PA, Industrial Sale

    PHILADELPHIA, PA—RR Donnelley sold its 370,000-square-foot single-story industrial building on 56.6 acres at 4411 Old Berwick Road in Bloomsburg, PA to Sekisui Polymer Innovations, LLC, which has an existing facility near the site and plans to bring an additional 200 new jobs to the area over the next five years.

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  • Philly Hotel Now Flies the Hilton Flag

    PHILADELPHIA—The former Hyatt Regency Hotel at Penn’s Landing reopened on Thursday as the Hilton Philadelphia at Penn’s Landing.

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  • NAI Mertz of PA Brokers Hazelton Industrial Building Sale to Development Agency

    HAZLETON, PA—NAI Mertz of PA sold a 25,000-square-foot industrial building located at 63A Green Mountain Road in Hazleton, PA, to Greater Hazleton Community Area New Development Organization, Inc. The agency’s goal is to foster economic activity in the greater Hazleton Area through acquiring and developing the land and infrastructure needed to attract new industries and new jobs to greater Hazleton.

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  • Video Interviewing Spreads to RE Recruiters

    CHICAGO—Technological advances have greatly improved the quality and lowered the expense of digital interviewing, and real estate firms are increasingly using it to get more insight into recruits’ personalities.

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  • Straub Planning $100M in Upgrades at Revel

    ATLANTIC CITY, NJ—A new deal struck between the shuttered Revel Casino Hotel and Florida developer Glenn Straub’s Polo North Country Club entity calls for a lower sale price but a promise by Straub to institute more than $100 million in renovations to the bankrupt gaming property.

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  • Industrial Gem Processor Expanding in Bucks County, PA

    FAIRLESS HILLS, PA—GMA Garnet USA, a miner and processor of industrial garnets, has renewed and expanded its lease in the Keystone Industrial Port Complex in Fairless Hills, about 22 miles outside Philadelphia. Michael Bartolacci in The Garibaldi Group/CORFAC International’s Lehigh Valley (Bethlehem, PA) office and Greg Barra, CCIM, with Boyd Commercial/CORFAC International in Houston, TX jointly represented GMA Garnet USA in the transaction.

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  • Famed Music Studio to Be Redeveloped

    PHILADELPHIA—The Sigma Sound Studios building here that produced such Disco favorites as “Disco Inferno,” “Macho Man” and “When Will I See You Again” has been sold to an investment partnership that plans to convert the 12th Street building into residential use.

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  • HFF closes 198-Unit MF Sale in West Chester, PA

    PHILADELPHIA, PA–HFF has closed the sale of Halstead, a 198-unit apartment and townhome community in West Chester, PA, to Metropolitan Management Corporation, a firm whose principals, A. Scott Fagan and Judi Goldstein, are both native Philadelphians.

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  • Kairos Renovating Fort Washington Executive Center

    FORT WASHINGTON, PA—Trying to capitalize on a current boom in demand for upgraded space in the western and northwestern Philadelphia suburban market, Kairos Real Estate Partners is renovating its latest acquisition, the Fort Washington Executive Center. Listen to our exclusive conversation with Kairos President Stephen Gleason.

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  • Philadelphia Fed Survey Reports Modest Growth in Manufacturing Sector

    PHILADELPHIA, PA—The Federal Reserve Bank of Philadelphia says its Manufacturing Business Outlook Survey indicated continued modest growth in the region’s manufacturing sector in February. Although the current activity index fell for the third consecutive month, it remained positive, and the employment indicator increased from its reading last month. The survey’s future activity index also fell but continues to reflect general optimism about manufacturing growth in the region over the next six months.

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  • Blatstein’s Purchase of Pier Shops at Caesars Challenged

    ATLANTIC CITY, NJ—Caesars Atlantic City has filed suit in Superior Court here challenging Bart Blatstein's acquisition of The Pier Shops at Caesars here.

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  • Judge Rules Revel Can Terminate Straub Deal

    CAMDEN, NJ—U.S. Bankruptcy Judge Gloria M. Burns ruled on Thursday afternoon in favor of the Revel Casino Hotel’s petition to terminate the sale of the resort to Florida developer Glenn Straub for $95.4 million.

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  • Southern Land Company Purchases Property at 1900 Walnut Street

    PHILADELPHIA, PA—Southern Land Company, a Nashville, TN, real estate company, has acquired the last undeveloped parcel of land on Rittenhouse Square. Company president Tim Downey says the project is likely be a mix of residential and retail.

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  • HFF Arranges $50M Financing for PA Industrial Portfolio

    HARRISBURG, PA—HFF arranged a $50 million financing for Los Angeles-based Hager Pacific Properties, which is acquiring a 100-percent-occupied portfolio of 10 properties with 86 buildings totaling 2.12 million square feet in central Pennsylvania.

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  • Bellmawr Laundry Relocates, To Where Else? Bellmawr

    BELLMAWR, NJ—Bellmawr Laundry is relocating from Philadelphia to the New Jersey town whose name it bears. NAI Mertz brokered the laundry’s purchase of a 74,000-square-foot industrial building at 281 Benigno Boulevard in Bellmawr, NJ.

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  • Judge Likely to Rule on Revel Sale Thursday

    CAMDEN, NJ—With a decision expected on Thursday, Revel Casino Hotel officials and Florida investor Glenn Straub met privately to try and iron out a sales deal.

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  • Philadelphia ‘Nearly Tier I’ Investment: RealShare Panelists

    PHILADELPHIA, PA—Philadelphia’s economic recovery, particularly its track record of rental properties weathering the 2008-2009 recession in fairly good shape, is getting the city some brotherly love from the capital markets in the form of renewed investment interest, say Capital Markets Update Panelists at the ALM Media RealShare Philadelphia conference held February 10 at the Union League.

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