Pennsylvania

Barings Provides $71.8M Loan for Refinancing of Pittsburgh Apartment Building

by Taylor Williams June 11, 2025

PITTSBURGH — Barings has provided a $71.8 million loan for the refinancing of The Park at SouthSide Works, a 247-unit apartment building located along the Monongahela River in Pittsburgh. Built in 2024, the seven-story building houses one- and two-bedroom units that, according to Apartments.com, range in size from 551 to 1,473 square feet. Amenities include a pool, courtyard with grilling stations, fitness center with a yoga room and a lounge with games. Jordan Roeschlaub, Nick Scribani, Chris Lozinak and Sam Speciale of Newmark arranged the loan on behalf of the owner, SomeraRoad, a development and investment firm with offices in Nashville and New York City.

June 11, 2025

Company News Data Centers Development Northeast Pennsylvania Top Stories

Amazon to Invest Minimum of $20B in AI-Based Data Center Campuses Throughout Pennsylvania

by John Nelson June 10, 2025

SEATTLE — Amazon (NASDAQ: AMZN) plans to invest “at least $20 billion” in future cloud computing and artificial intelligence (AI) innovation campuses in Pennsylvania. The Seattle-based e-commerce giant has identified Salem Township in Luzerne County and Falls Township in Bucks County as the first communities that will host these campuses, with other Pennsylvania communities also under consideration. “I’m proud to announce that we have secured the largest private sector investment in the history of Pennsylvania,” said Pennsylvania Gov. Josh Shapiro. “Pennsylvania is competing again.” Upon completion, the campuses will house data centers with computer servers, data storage drives, networking equipment and other technology infrastructure used for cloud computing capabilities and generative AI. Specific details about the sites and construction timelines were not released. Last week, Amazon made a similar announcement for a $10 billion data center innovation campus in Richmond County, N.C., which followed an $11 billion investment in Georgia that Amazon announced in January. Amazon stated that the Pennsylvania investment will create at least 1,250 new jobs, as well as thousands of jobs in the Amazon Web Services (AWS) data center supply chain. The new jobs will range from data center engineers and network specialists, to engineering operations managers, security …

June 10, 2025

Development Northeast Pennsylvania Retail

Emory Hill Construction Completes Renovation of 26,520 SF Goodwill Store in Aston, Pennsylvania

by Taylor Williams June 6, 2025

ASTON, PA. — Delaware-based Emory Hill Construction has completed the renovation of a 26,520-square-foot Goodwill store in Aston, a southwestern suburb of Philadelphia. Big Lots formerly occupied the space, which is located within Village Green Shopping Center. The redesigned layout features a 20,408-square-foot sales floor, a 5,830-square-foot processing area and a 1,209-square-foot mezzanine area that houses an employee breakroom, restrooms, manager’s office and server room.

June 6, 2025

York-County-Trade-Center-Carroll-Township

Development Industrial Northeast Pennsylvania

TCC Breaks Ground on 376,000 SF Industrial Project in Carroll Township, Pennsylvania

by Taylor Williams June 5, 2025

CARROLL TOWNSHIP, PA. — Trammell Crow Co. (TCC) has broken ground on York County Trade Center, a 376,000-square-foot industrial project in Carroll Township, a southwestern suburb of Harrisburg. The site spans 35 acres, and the building will feature a cross-dock configuration, a clear height of 40 feet, 80 dock doors and 3,600 square feet of office space. Ware Malcomb is the project’s architect, and Conewago Enterprises is the general contractor. KBC Advisors will market the property for lease. Completion is scheduled for April 2026.

June 5, 2025

Development Industrial Northeast Pennsylvania

NorthPoint to Develop 1.1 MSF Spec Industrial Facility in Manchester, Pennsylvania

by Taylor Williams June 2, 2025

MANCHESTER, PA. — Missouri-based NorthPoint Development will build a 1 million-square-foot speculative industrial facility in Manchester, located roughly midway between York and Harrisburg. Designed by studioNorth Architecture with civil engineering work by SitePoint, the building will be the second within Manchester Commerce Park and will feature a clear height of 40 feet, 112 overhead doors, four drive-in doors and parking for 759 cars and 220 trailers. Peak Construction Corp. is the general contractor for the project, construction of which is slated for an early 2026 completion.

June 2, 2025

Wayne-Heights-Mall-Waynesboro-Pennsylvania

Acquisitions Northeast Pennsylvania Retail

CBRE Negotiates Sale of 117,951 SF Shopping Center in Waynesboro, Pennsylvania

by Taylor Williams May 30, 2025

WAYNESBORO, PA. — CBRE has negotiates the sale of a 117,951-square-foot shopping center in Waynesboro, located in southern Pennsylvania near the Maryland border. Wayne Heights Mall was 92 percent leased at the time of sale, with German discount grocer Aldi serving as the anchor tenant. Chris Munley, Colin Behr, Ryan Sciullo, Casey Benson Smith, R.J. Mirabile and Michael Pascavis of CBRE brokered the deal. The buyer, seller and sales price were not disclosed.

May 30, 2025

Acquisitions Industrial Northeast Pennsylvania

Faropoint Buys 60,000 SF Industrial Flex Building in Bristol, Pennsylvania

by Taylor Williams May 30, 2025

BRISTOL, PA. — New Jersey-based investment firm Faropoint has purchased a 60,000-square-foot industrial flex building in Bristol, a northeastern suburb of Philadelphia. The building, which sits on a 4.7-acre site within Keystone Industrial Park and offers a clear height of 26 feet, has been occupied by Estee Lauder for 30 years. The seller was undisclosed. Jeff Licht and Jared Licht of NAI Mertz brokered the deal.

May 30, 2025

Acquisitions Industrial Northeast Pennsylvania

Greek Real Estate Buys 141,276 SF Logistics Facility in Croydon, Pennsylvania

by Taylor Williams May 28, 2025

CROYDON, PA. — Regional investment firm Greek Real Estate Partners has purchased Everest Logistics Park, a 141,276-square-foot facility in Croydon, a northeastern suburb of Philadelphia. Penwood Real Estate Investment Management sold the asset for $36.7 million. Built on 10 acres in 2023, the facility offers a clear height of 36 feet, 20 tailgate doors, one drive-in door, 3,000 square feet of office space and parking for 260 cars and 31 trailers. Burry Klein and Josh Chesner of Branch Industrial represented Greek Real Estate, which has also executed a full-building lease expansion with the existing tenant, Philadelphia-based PCI Pharma, in the off-market transaction.

May 28, 2025

Loans Multifamily Northeast Pennsylvania

CBRE Arranges $28.5M Construction Loan for Multifamily Project in Media, Pennsylvania

by Taylor Williams May 27, 2025

MEDIA, PA. — CRBE has arranged a $28.5 million construction loan for Mi-Place at Media, a 132-unit multifamily project that will be located about 25 miles southwest of Philadelphia. The project will consist of three four-story buildings and 245 parking spaces. Amenities will include a lounge, fitness center, dog park and outdoor grilling and dining stations. Matthew Klauer and Cassandra Russell of CBRE arranged the loan through SteepRock Capital on behalf of the sponsor, Fernmoor Homes. A tentative completion date was not disclosed.

May 27, 2025

Loans Multifamily Northeast Pennsylvania

Red Oak Capital Provides $9.2M Bridge Loan for Philadelphia Multifamily Project

by Taylor Williams May 21, 2025

PHILADELPHIA — Red Oak Capital Holdings has provided a $9.2 million bridge loan for Ridge Avenue Apartments, a 32-unit multifamily project in Philadelphia. The five-story building includes 8,000 square feet of ground-floor retail space and offers amenities such as a fitness center and a rooftop terrace, as well as off-street parking. The borrower, an affiliate of local development and management firm Vich Properties LLC, will use the proceeds from the two-year, interest-only loan to retire existing debt and complete construction of the project.

May 21, 2025

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