Philadelphia

Colliers reports that the new owner has reconceived the vacant box as a mix of large floor plate opportunities, new exterior facing small retail and/or restaurant tenants along with several new outparcels offering the potential to court statement restaurant operators to the mall complex.

JLL Capital Markets marketed the property and represented an institutional client in the sale of the 166,979-square-foot complex.

Brentwood, TN-based GBT Realty Corporation, which developed the properties over the past two years, sold the portfolio to a Virginia-based, private investment group that was completing a sizable 1031 exchange.

State officials note the total of approximately $12.5 million in PIDA financing in 2020 has resulted in more than $28.8 million in private investment and supported the creation and or retention of 933 full-time jobs in the state.

Keystone officials held a ceremony recently to celebrate the topping out milestone alongside executives from AmerisourceBergen, which will be relocating its global corporate headquarters to the building.

The firms secured a three-year, floating-rate loan with Wells Fargo Bank for Park 100 Logistics Center, a newly constructed 730,080-square-foot distribution facility and an adjacent 811,200-square-foot production facility that is under construction.

The acquisition includes Bloomfield Business Park, which consists of 16 multi-tenant warehouse/flex buildings and five multi-tenant buildings along Commerce Lane in the Commerce Lane Business Park.

More than 35 responses to the RFQ were received in December 2019. The development opportunity marks the only time since 2004 that PIDC has offered exclusive development rights and the first time that mixed-use multifamily development will be allowed at the Navy Yard.