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The substantial improvement definition could be one based on total cost expenditures or something based on the strict definition of what could must be capitalized.
In the largest of the agreements, Ameribest expanded its existing offices with the lease of another 6,924 square feet on the second floor of 990 Spring Garden.
Investors Bank's largest single CRE loan, which was completed at the end of 2018, was a $42 million transaction to refinance the commercial mortgages on 27 retail properties in multiple locations.
Pembrook Capital's Stuart Boesky says he's bullish on Philadelphia's multifamily market and this transaction is an investment into a neighborhood that is in the process of rapid revitalization.
The flexible office provider is now occupying close to 60,000 square feet, the full eighth floor of Columbia Property Trust's landmark office property.