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PHILADELPHIA-Milwaukee, WI-based Associated Sales & Bag Co. buys a distribution center near Carlisle, PA from locally-based Andrew H. Walters Trust. The location near I-85 and the PA Turnpike gives Associated easy access to its customers in the east.
PHILADELPHIA-Efforts to revitalize Center City's East Chestnut Street corridor get a boost from Borders Books. In November, the retailer will move from 22,000 sf on Walnut Street to a 26,876-sf, three-level store at the corner of Chestnut and Broad.
LANSDALE, PA-Blue Bell, PA-based Capital Solutions buys a fully-leased 93,795-sf class-A office building at 212 Church Rd. from First Evergreen for $14.5 million. Nine years remain on the current tenant's lease, estimated at $21 per sf.
FALLSINGTON, PA-Bristol, PA-based Griff & Associates, a specialty paper manufacturer, buys a building for $32.50 per sf. Meanwhile, Smith Mack begins construction of a 32,000-sf office building at the 149-acre Providence Corporate Center in Collegeville, PA.
PHILADELPHIA-The head of Binswinger/CBB urges real estate executives at a Philadelphia opportunities conference, to stem the city's slide from a "headquarters city" to a "regional center" and think global. Plusses include three international airports, ethnic diversity and low rental rates.
ATLANTA-The Bullock Habersham Apartments, a 32-year-old, 128-unit multifamily community in the East Point suburb of Atlanta, receives $3.8-million in financing. Property manager, locally based-Allstate Management will use the funding to renovate the property which is 91% occupied.
PHILADELPHIA-The 80,000-sf office/industrial property on seven acres in Northeast Philadelphia was previously owned by L&M Beverage Co. Steamfitters Local Union No. 420, will turn it into administrative offices, a
PHILADELPHIA-Doubt is cast on long-delayed plans for a proposed Crawford Museum of Transportation and Industry in Cleveland. The $75-million project that would replace the current museum in University Circle is two years behind schedule.
ATLANTA-Dayton, OH-based Reynolds & Reynolds leaves 55,000 sf at the Breckenridge Center for 30,300 sf in The Gwinnett Building at Koger Center in Duluth, GA. Area brokers estimate the price for the seven-year lease at approximately $20 per sf.