Pennsylvania

PCCP Acquires Industrial Property Near Harrisburg for $141.6M

by Taylor Williams February 13, 2026

NEWVILLE, PA. — Los Angeles-based PCCP LLC has acquired a 1.2 million-square-foot industrial property in Newville, about 35 miles west of Harrisburg, for $141.6 million. Completed in 2020 on a 93-acre site at 3419 Ritner Highway, the building features a clear height of 236 feet, 120 dock-high doors (expandable to 241), 200-foot truck court depths and parking for 265 cars and 437 trailers. John Plower and Ryan Cottone of JLL represented the undisclosed seller in the transaction. JLL also arranged an $82 million acquisition loan through QuadReal Property Group on behalf of PCCP. The building was fully leased at the time of sale to Newell Brands, a Fortune 500 manufacturer and distributor of consumer and commercial products.

February 13, 2026

Acquisitions Industrial Northeast Pennsylvania

JLL Brokers Sale of 251,043 SF Distribution Center in Greencastle, Pennsylvania

by Taylor Williams February 12, 2026

GREENCASTLE, PA. — JLL has brokered the sale of a 251,043-square-foot distribution center in Greencastle, located near the Pennsylvania-Maryland border. The cross-dock facility at 12316 Molly Pitcher Highway was built on a 32.8-acre site in 2023 at and was fully leased at the time of sale to U.S. government entities. Building features include a clear height of 32 feet, 45 dock-high doors, three drive-in doors, 130-foot truck court depths, parking for 125 cars and 300 trailers, vehicle repair and wash bays and climate-controlled storage areas. John Plower and Ryan Cottone of JLL represented the seller, Atapco Properties Inc., in the transaction.

February 12, 2026

Affordable Housing Development Multifamily Northeast Pennsylvania

Beacon Communities Begins Affordable Housing Redevelopment Project in Downtown Pittsburgh

by Taylor Williams February 12, 2026

PITTSBURGH — Nonprofit owner-operator Beacon Communities has begun an affordable housing redevelopment project in downtown Pittsburgh. The project involves The May Building, 12-story structure at 111 Fifth Ave. that was originally completed in 1908 for the May Drug Co. The building was converted from office to an 87-unit apartment complex with studio and one-bedroom units in 1974. This latest redevelopment will convert 66 of those residences into affordable housing and also upgrade the building’s exterior elements, mechanical/utility systems and common spaces.

February 12, 2026

Acquisitions Multifamily Northeast Pennsylvania

PPR Capital Management Buys 199-Unit Apartment Complex in Limerick, Pennsylvania

by Taylor Williams February 6, 2026

LIMERICK, PA. — Pennsylvania-based private equity firm PPR Capital Management has purchased Botanica Cottages, a 199-unit apartment complex in Limerick, a northwestern suburb of Philadelphia. Built in 1999, Botanica Cottages offers one-, two- and three-bedroom units that are equipped with private entrances and attached garages. Amenities include a pool, spa, clubhouse and a fitness center. PPR acquired the property in partnership with Bel Canto Asset Growth Fund. The seller and sales price were not disclosed. The new ownership plans to implement a value-add program.

February 6, 2026

Acquisitions Net Lease Northeast Pennsylvania Retail

Marcus & Millichap Brokers Sale of 10-Store Dollar General Portfolio in Pennsylvania

by Taylor Williams February 6, 2026

PENNSYLVANIA — Marcus & Millchap has brokered the sale of a portfolio of 10 Dollar General stores in Pennsylvania. The addresses were not disclosed, but the stores are all new construction and are operated under 15-year, triple-net leases. Don McMinn and Andrew Koriwchak of the Taylor McMinn Retail Group of Marcus & Millichap brokered the deal. The seller was a developer, and the buyer was an institutional investment firm. Both parties requested anonymity.

February 6, 2026

Civic Development Northeast Pennsylvania

Mosaic Development Completes 88,000 SF Academic Project in Philadelphia

by Taylor Williams February 6, 2026

PHILADELPHIA — Locally based firm Mosaic Development Partners has completed an 88,000-square-foot academic project for the School District of Philadelphia. The Alternative Middle Years at James Martin Middle School is a four-story building in the Port Richmond neighborhood that includes specialty art, science and technology labs and was designed to LEED Gold standards. Project partners included design firms KSS Architects and Moody Nolan and construction firm Daniel J. Keating Co.

February 6, 2026

Acquisitions Industrial Northeast Pennsylvania

Realterm Buys Industrial Outdoor Storage Facility in Lehigh Valley

by Taylor Williams February 3, 2026

ALLENTOWN, PA. — Realterm, a Maryland-based investment manager focused on the transportation real estate industry, has purchased an industrial outdoor storage (IOS) facility in the Lehigh Valley city of Allentown. The site at 925 N. Godfrey St. spans 4.2 acres, includes a 27,407-square-foot warehouse and was fully leased at the time of sale to Student Transportation of America Inc. Ryan Cottone and John Plower of JLL represented the undisclosed seller in the transaction.

February 3, 2026

Hospitality Loans Northeast Pennsylvania

Cronheim Arranges $28.5M Loan for Refinancing of Downtown Philadelphia Hotel

by Taylor Williams February 2, 2026

PHILADELPHIA — Cronheim Hotel Capital, a division of New Jersey-based intermediary Cronheim Mortgage, has arranged a $28.5 million loan for the refinancing of the Renaissance Philadelphia Downtown hotel. The number of rooms was not disclosed. The hotel’s amenities include business and fitness centers, as well as meeting/event space and two onsite restaurants. The loan was structured with interest-only payments and a fixed interest rate. The direct lender and borrower were also not disclosed.

February 2, 2026

Development Industrial Life Sciences Northeast Pennsylvania Top Stories

Eli Lilly to Open $3.5B Manufacturing Facility in Pennsylvania’s Lehigh Valley

by Taylor Williams February 2, 2026

UPPER MACUNGIE, PA. — Pharmaceutical giant Eli Lilly & Co. (NYSE: LLY) will open a $3.5 billion manufacturing facility in the Lehigh Valley community of Upper Macungie. The development will span about 925,000 square feet across multiple buildings and is expected to bring about 850 new jobs to the region. A construction timeline was not announced. Lilly is acquiring the property at 9802 Main St. in Upper Macungie from Jaindl Land Development for the project. According to local news outlet WFMZ, this property is known as Fogelsville Corporate Center and is undeveloped agricultural land. In addition to the 850 permanent jobs, development of the new facility is expected to create about 2,000 construction jobs. According to Pennsylvania Gov. Josh Shapiro, the state committed more than $100 million in incentives to land the project, including $50 million in tax credits. Lehigh Carbon Community College will receive additional state funding and feed Lilly’s talent pipeline by creating and expanding academic and workforce training programs in life sciences. “Lilly’s commitment to the Lehigh Valley and to Pennsylvania will bring billions of dollars of investment and hundreds of good-paying jobs, solidifying our position as a leader in the growing life sciences industry,” Shapiro said …

February 2, 2026

Loans Multifamily Northeast Pennsylvania

Largo Capital Arranges $19M Loan for Refinancing of Metro Philadelphia Apartment Complex

by Taylor Williams January 30, 2026

WILLOW GROVE, PA. — Largo Capital, a financial intermediary based in upstate New York, has arranged a $19 million permanent loan for the refinancing of Willow Run Apartments, a 172-unit multifamily complex in Willow Grove, located on the northern outskirts of Philadelphia. The pet-friendly property offers one- and two-bedroom units, as well as a fitness center. Neal Colligan of Largo Capital arranged the debt. The direct lender and borrower were not disclosed.

January 30, 2026

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