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PHILADELPHIA, PA—A joint venture involving Abrams Realty & Development of Elkins Park, PA and Onyx Equities of Woodbridge, NJ has acquired Penrose Plaza, a 255,969 square foot, ShopRite-anchored shopping center at Island Avenue and Lindbergh Boulevard in Southwest Philadelphia.
JERSEY CITY, NJ—Brown Brothers Harriman, relocating its offices within Jersey City, has signed a new 11-year lease at Mack-Cali's Harborside Plaza 5 in Jersey City, NJ.
RADNOR, PA—Brandywine Realty Trust says its financial performance in the second quarter was largely flat compared with the same period last year. Gerard H. Sweeney, president and chief executive officer, says the company "continued to make excellent progress" on its 2015 business plan.
MONTVALE, NJ—The Great Atlantic & Pacific Tea Company says the United States Bankruptcy Court for the Southern District of New York has approved the company's First Day Motions in its bankruptcy filing -- including a critical drawdown of $50 million in DIP financing.
EDISON, NJ—Mack-Cali Realty Corporation says selling fewer assets while getting lower lease revenues caused its net income for the second quarter of 2015 to drop 31 percent, while funds from operations were 7.6 percent lower. Analysts and investors were, nevertheless, encouraged by new CEO Mitch Rudin's analysis of the firm's value, and his plans to reposition the company.
MALVERN, PA—The A&P store location fire sale continues as ACME Markets says it is scooping up 76 stores. Supermarket location consultant David Livingston tells GlobeSt.com exclusively that the A&P bankruptcy is unlikely to have much effect on the grocery retail sector.
ALLENDALE, NJ—Meridian Capital Group negotiated a $35.3 million mortgage for the refinance of the Allendale Corporate Center, a flex office property located in Allendale, NJ, on behalf of Laino Enterprises.
MOUNTAIN LAKES, NJ–With 315,000 square feet in leasing during the first half of 2015, Vision Real Estate Partners says it is seeing strong demand within its northern New Jersey office portfolio. The activity reflects acceleration within the regional real estate market, according to Sam Morreale, founder and managing partner of the Mountain Lakes-based firm.
NEWARK, NJ—A consortium of Newark-based businesses is launching an early stage investment fund to encourage technology startups to locate in New Jersey's largest city, and will provide a state-of-the-art workspace for the ventures to use.
WILKES-BARRE, PA—Madison Hawk, which specializes in Structured Accelerated Sales and Capital Market Solutions, will conduct a sealed bid auction for a portfolio of ten retail properties in well-trafficked locations in the heart of the main commercial corridor in Wilkes-Barre, PA.
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Discover which 10 retail and dining brands are positioned for potential growth in 2025, and three surprise contenders that could make a major impact.
Download ResourceFrom Building Engines
How do your building operations measure up? Use this detailed scorecard to evaluate your operational approach across five key areas.
Download ResourceFrom Placer.ai
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Download ResourceFrom Placer.ai
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Download ResourceFrom Building Engines
Commercial property teams are navigating changing times where technology plays a crucial role in operations, tenant satisfaction, and sustainability. This report, based on insights from 370 industry professionals, reveals the biggest priorities, challenges, and opportunities for CRE technology adoption in 2025. Don’t miss it.
Download ResourceFrom Placer.ai
Discover which 10 retail and dining brands are positioned for potential growth in 2025, and three surprise contenders that could make a major impact.
Download Resource