Deal Tracker: A Roundup of Philadelphia-Area Activities

PHILADELPHIA—Colliers International Capital Markets arranged $24 million of debt for the acquisition and redevelopment of the former West Philadelphia High School at 4700 Walnut Street. The 442,200-square-foot, four story building will be converted to a 298-unit multifamily property. Kristopher Wood and John Banas, both senior vice presidents/directors in CICM's Philadelphia office, arranged the loan.

Openings

Leases

PHILADELPHIA—Sakura Japanese Restaurant has leased 4,000 square feet at Morrell Plaza in Philadelphia, becoming the latest restaurant to join the tenant mix at this 103,250-square foot shopping destination. Located directly on Frankford Avenue/Route 13, Morrell Plaza is exclusively leased and managed by North Plainfield, N.J.-based Levin Management. Barry Borsky, Levin's leasing representative, negotiated the long-term lease. Jamie Weiner of Delphi Properties represented the tenant in the transaction.

MT. LAUREL, NJ—NAI Mertz recently completed a 2,875-square-foot lease for Pediatric Dentistry of Mullica Hill at Tomlin Station Commerce Center in Mullica Hill, NJ. The NAI Mertz team of Rebecca Ting, SIOR, vice president, and John Brown, broker associate, were the sole brokers in this transaction.

Executive Moves

SOUTHAMPTON, PA—NAI Mertz named Lisa Madzin and Joe Sternberg, Esq. sales associates in o its Southampton, PA office. Madzin joins NAI Mertz from SSH Real Estate, where she specialized in tenant and landlord representation. Sternberg brings an extensive background in commercial real estate sales and litigation. Previously, he was the leasing director for Vineland Construction Company. He also served as vice president and general counsel for Moyco Technologies, and was an associate attorney at the law firm of Robinson, Greenberg & Lipman.