New Jersey

In addition to the passage of the Fiscal 2020 Operating and Capital Budgets, the City Council overwhelmingly approved a plan to build a $60-million liquified natural gas facility in Southwest Philadelphia.

Domenico De Sole, chairman of Sotheby's Board of Directors, says that the board of directors approved the purchase deal after a comprehensive review. “After more than 30 years as a public company, the time is right for Sotheby's to return to private ownership to continue on a path of growth and success," he says.

Construction on the $714-million project is expected to begin in 2022. The new pavilion that will total 438,000 square feet of usable space, will feature nine floors of cutting-edge technology and a design to provide patients and families with world-class acute care.

The $253-million Arthaus condo tower will feature 108 units, more than 36,000 square feet of amenities, including a rooftop greenhouse, and more than 4,200 square feet of ground floor retail.

Dermody has been active in the Pennsylvania/New Jersey industrial market of late. The deal for the East Windsor, NJ property comes less than a month after the firm broke ground on two buildings at a 557,820-square-foot complex located 80 miles from the Port of New York and New Jersey in Wind Gap, PA.

On Wednesday, the Pennsylvania Gaming Control Board voted unanimously to award a Class 4 license to Mountainview Thoroughbred Racing Association, LLC, a subsidiary of Penn National Gaming of Wyomissing, PA.

The Riverside Gardens development on Riverside Drive totals 46 units. The property traded for $11.3 million. Kislak also sold a 43-unit property on West Third Avenue and a 17-unit property on Walnut Street in Roselle for a total sale price of $5.7 million.

The university notes that the building, when completed next year, will be the first of its kind at a higher education institution in the United States.