Pennsylvania Archives - REBusinessOnline

CBRE Brokers Sale of 133,717 SF Shopping Center in Bartonsville, Pennsylvania

Taylor Williams — Fri, 09 Oct 2026 15:26:26 +0000

BARTONSVILLE, PA. — CBRE has brokered the sale of Shops at Crossroads, a 133,717-square-foot shopping center in Bartonsville, located roughly midway between Allentown and Scranton in Eastern Pennsylvania. Grocer GIANT anchors Shops at Crossroads, which was built in 2009 and is also home to tenants such as Visionworks, Red Lobster, Jersey Mike’s and CosmoProf. Chris Munley, Colin Behr, Ryan Sciullo and Casey Smith of CBRE represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

The post CBRE Brokers Sale of 133,717 SF Shopping Center in Bartonsville, Pennsylvania appeared first on REBusinessOnline.

Endurance, Long Wharf Buy 110,883 SF Industrial Portfolio in Bensalem, Pennsylvania

Taylor Williams — Thu, 08 Oct 2026 14:40:04 +0000

BENSALEM, PA. — A partnership between affiliates of regional owner-operator Endurance Real Estate and Boston-based Long Wharf Capital has purchased a portfolio of two industrial building totaling 110,883 square feet in Bensalem, a northern suburb of Philadelphia. The building at 3366 Marshall Lane totals 69,945 square feet and features a clear height of 21 to 29 feet. The building at 3350 Progress Drive totals 40,888 square feet and features a clear height of 18.5 feet. Pat Gilmore and Mike Borski of The Flynn Co. represented the undisclosed seller in the transaction. Endurance plans to implement capital improvements within the portfolio and has tapped Avison Young as the leasing agent.

The post Endurance, Long Wharf Buy 110,883 SF Industrial Portfolio in Bensalem, Pennsylvania appeared first on REBusinessOnline.

Provident Industrial Underway on 257,040 SF Industrial Project in Limerick, Pennsylvania

Taylor Williams — Mon, 05 Oct 2026 13:20:06 +0000

LIMERICK, PA. — Provident Industrial, a division of Dallas-based development and investment firm Provident, is underway on construction of a 257,040-square-foot industrial project in Limerick, about 35 miles northwest of Philadelphia. Specific building features for the project at 300 Keystone Drive were not disclosed, but the facility will be able to support logistics, advanced manufacturing and/or e-commerce users. Completion is slated for next summer. CBRE is marketing the project for lease.

The post Provident Industrial Underway on 257,040 SF Industrial Project in Limerick, Pennsylvania appeared first on REBusinessOnline.

Partnership to Undertake Mixed-Use Redevelopment Project in Lititz, Pennsylvania

Taylor Williams — Thu, 01 Oct 2026 13:58:30 +0000

LITITZ, PA. — A group of real estate investors doing business as Lititz Run Partnership LLC will undertake a mixed-use redevelopment project in the town of the same name, which is located about 75 miles northwest of Philadelphia. The partnership has purchased the 98,000-square-foot former Morgan Paper Mill, which was originally built in 1930, renovated in 1989 and fully restored in 2018. The converted development will be known as The Morgan and will feature residential, commercial and hospitality uses. Stephen Marzullo, Adam Silverman, Jeremy Shyk, David Sickler and Scott Miller of CBRE represented the seller, Penn Medicine Lancaster General Health, in the sale of the property.

The post Partnership to Undertake Mixed-Use Redevelopment Project in Lititz, Pennsylvania appeared first on REBusinessOnline.

Realterm to Develop Cargo Handling Facility at Harrisburg International Airport

Taylor Williams — Tue, 29 Sep 2026 14:21:48 +0000

HARRISBURG, PA. — Realterm, a global investment manager focused on transit-oriented properties, will develop a cargo handling facility at Harrisburg International Airport that could ultimately have a footprint as big as 105,000 square feet. Developed in partnership with the Susquehanna Area Regional Airport Authority, the facility will feature 135-foot truck court depths, skylights, motion-sensor LED lighting, EV-ready infrastructure and an engineered slab capable of supporting specialized cargo needs. A tentative construction timeline was not disclosed.

The post Realterm to Develop Cargo Handling Facility at Harrisburg International Airport appeared first on REBusinessOnline.

BNY Signs 42,000 SF Office Lease in Wayne, Pennsylvania

Taylor Williams — Wed, 23 Sep 2026 13:28:03 +0000

WAYNE, PA. — BNY has signed a 42,000-square-foot office lease in Wayne, about 20 miles northwest of Philadelphia. The global financial services company will occupy the entire second floor of a three-story building within Chesterbrook, a 14-building office campus. Whit Hunter, Mike MacCrory and Doug Newbert of JLL represented the landlord, Rubenstein Partners, in the lease negotiations. JLL also represented BNY.

The post BNY Signs 42,000 SF Office Lease in Wayne, Pennsylvania appeared first on REBusinessOnline.

CBRE Arranges Sale of 91,306 SF Office Building in Camp Hill, Pennsylvania

Taylor Williams — Mon, 21 Sep 2026 13:28:48 +0000

CAMP HILL, PA. — CBRE has arranged the sale of West Shore Office Center, a 91,306-square-foot office building in Camp Hill, a southern suburb of Harrisburg. The seven-story building at 214 Senate Ave. was fully leased at the time of sale to tenants such as Morgan Stanley, Merrill Lynch, JEM Group, Hersha Hospitality and the U.S. Army Corp. of Engineers. Steve Marzullo, Adam Silverman, Jeremy Shyk and David Sickler of CBRE represented the undisclosed seller in the transaction and procured the buyer, locally based investment firm Linlo Properties.

The post CBRE Arranges Sale of 91,306 SF Office Building in Camp Hill, Pennsylvania appeared first on REBusinessOnline.

Nokia to Undertake $30M Expansion of Lehigh Valley Semiconductor Facility

Taylor Williams — Thu, 17 Sep 2026 14:36:07 +0000

UPPER MACUNGIE, PA. — Nokia will undertake a $30 million expansion of its photonic semiconductor advanced test and packaging facilities and operations within the Lehigh Valley city of Upper Macungie. The initiative is expected to create about 250 new jobs, effectively doubling the Finnish telecommunications company’s regional workforce, and to account for an estimated economic impact of $500 million over the next five years. According to Lehigh Valley Live, the investment will allow for Nokia to increase production capacity at its Upper Macungie facility by a factor of 10, and the company has also leased additional industrial space for “future product development and logistics.”

The post Nokia to Undertake $30M Expansion of Lehigh Valley Semiconductor Facility appeared first on REBusinessOnline.

Matthews Negotiates Sale of 513-Unit Self-Storage Facility in State College, Pennsylvania

Taylor Williams — Thu, 10 Sep 2026 13:31:46 +0000

STATE COLLEGE, PA. — Nashville-based brokerage firm Matthews has negotiated the sale of a 513-unit self-storage facility in State College, home of Penn State University, and the facility is located about four miles from campus. State College Storage is a newly constructed facility that features climate-controlled and drive-up units for a total of 58,800 net rentable square feet. Austin McLeod and Jack Connelly of Matthews represented the seller, an undisclosed private developer, in the transaction. U-Haul purchased State College Storage for an undisclosed price.

The post Matthews Negotiates Sale of 513-Unit Self-Storage Facility in State College, Pennsylvania appeared first on REBusinessOnline.

Independence Realty Trust, Centerspace to Merge in $8.1B Transaction

Kristin Harlow — Thu, 10 Sep 2026 12:00:00 +0000

PHILADELPHIA — Independence Realty Trust Inc. (NYSE: IRT) and Centerspace (NYSE: CSR) have entered into a definitive merger agreement under which the two companies will combine in an all-stock transaction valued at $8.1 billion, including debt. The combined multifamily REIT will own and operate 163 properties totaling 44,354 units across 17 states. According to Scott Schaeffer, chairman and CEO of IRT, the deal will pair IRT’s Sun Belt portfolio with Centerspace’s Midwest and Mountain West communities. He also cites greater efficiencies across a larger operating base and an expanded value-add renovation program. The combined company is expected to have a pro forma equity market capitalization of approximately $5 billion. Under the terms of the agreement, which has been unanimously approved by the boards of directors of both companies, Centerspace shareholders will receive 3.8 shares of IRT common stock for each share of Centerspace common stock owned. Upon closing, IRT stockholders will own approximately 78 percent of the combined company’s equity, while Centerspace shareholders will own roughly 22 percent. IRT’s management team will continue to lead the combined company. Schaeffer will serve as chairman and CEO, and James Sebra will serve as president and CFO. Upon completion of the merger, the…

The post Independence Realty Trust, Centerspace to Merge in $8.1B Transaction appeared first on REBusinessOnline.

American Healthcare REIT Acquires Eight Seniors Housing Communities for $696M

Matthew Auchincloss — Thu, 03 Sep 2026 12:00:00 +0000

IRVINE, CALIF. — American Healthcare REIT Inc. (NYSE: AHR) has acquired eight senior housing communities in six states for $696 million. The properties, which collectively comprise 867 units and were built between 2020 and 2022, are located in Massachusetts, Connecticut, New Jersey, Pennsylvania, Delaware and Georgia. Newmark acted as AHR’s real estate advisor for the transaction. While there were multiple sellers, all eight properties were marketed together. AHR purchased 10 communities all together but assigned the purchase and sale agreements of two properties to another institutional investor. “This series of transactions is an example of disciplined capital allocation supported by strong execution,” says Jeff Hanson, chairman and CEO of AHR. “We understood that only a solution for all 10 communities would clear the market. Rather than either walking away from a highly strategic opportunity or compromising our capital allocation discipline to secure it, we constructed a solution that required neither.” The purchase gives the Irvine-based company a larger presence in the Northeastern seniors housing market. The Northeast properties in the portfolio are located primarily in wealthy suburban markets such as Philadelphia’s Main Line, Westport, Conn., and suburban Boston. AHR is strengthening this newfound foothold via a new operating relationship with Massachusetts-based LCB…

The post American Healthcare REIT Acquires Eight Seniors Housing Communities for $696M appeared first on REBusinessOnline.

Chobani Agrees to Buy Former Keurig Dr Pepper Manufacturing Facility in Allentown, Pennsylvania for $125M

Taylor Williams — Tue, 01 Sep 2026 14:07:35 +0000

ALLENTOWN, PA. — Chobani has entered into an agreement to acquire the former manufacturing facility of Keurig Dr Pepper in the Lehigh Valley city of Allentown, including the lease, equipment and operations and related infrastructure, for $125 million. Keurig Dr Pepper first opened the 1.5 million-square-foot facility in 2021, and the announcement coincides with Keurig Dr Pepper agreeing to sell its full equity stake in Chobani back to the company for $800 million. Both of those transactions are expected to close in the third quarter. Chobani’s acquisition of the facility comes as part of a larger capital investment in the Lehigh Valley that is valued at $1.2 billion and expected to add about 900 new jobs to the local economy. The provider of dairy products plans to add up to 10 new production lines and says that the new facility will give the company “the capacity to scale new products while continuing to develop new formats and food-and-beverage platforms.” Production under Chobani is expected to begin sometime next year.

The post Chobani Agrees to Buy Former Keurig Dr Pepper Manufacturing Facility in Allentown, Pennsylvania for $125M appeared first on REBusinessOnline.

Boyle Construction Underway on Adaptive Reuse Project in Bethlehem, Pennsylvania

Taylor Williams — Thu, 27 Aug 2026 13:42:48 +0000

BETHLEHEM, PA. — Developer Boyle Construction is underway on an adaptive reuse project in the Lehigh Valley city of Bethlehem. Designed by MKSD Architects, the project will convert the historic former Bethlehem Steel Turn & Grind Shop, a 26,000-square-foot structure that was built in the 1860s, into a mixed-use facility for festivals, private events and community gatherings. The Lehigh Valley Health Network is sponsoring the conversion, and Pennsylvania-based nonprofit organization ArtsQuest will operate the new facility. Completion is slated for next year.

The post Boyle Construction Underway on Adaptive Reuse Project in Bethlehem, Pennsylvania appeared first on REBusinessOnline.

JLL Arranges $73.5M Loan for Refinancing of Retail Power Center in McCandless, Pennsylvania

Taylor Williams — Wed, 26 Aug 2026 13:05:23 +0000

MCCANDLESS, PA. — JLL has arranged a $73.5 million loan for the refinancing of a 387,771-square-foot retail power center in McCandless, a northern suburb of Pittsburgh. McCandless Crossing was 99 percent leased at the time of the loan closing, with Lowe’s Home Improvement, T.J. Maxx, Trader Joe’s, HomeGoods and Sierra Trading serving as the anchor tenants. The overall tenant roster has a weighted average remaining lease term of 5.7 years. Nick Unkovic, Claudia Steeb and Zachary Barone of JLL arranged the five-year, fixed-rate loan through Nationwide on behalf of the owner, AdVenture Champion Partners.

The post JLL Arranges $73.5M Loan for Refinancing of Retail Power Center in McCandless, Pennsylvania appeared first on REBusinessOnline.

Equus Capital Sells Surgical Center in Chalfont, Pennsylvania for $12M

Taylor Williams — Fri, 21 Aug 2026 14:12:06 +0000

CHALFONT, PA. — An affiliate of local owner-operator Equus Capital Partners has sold a 52,622-square-foot surgical center in Chalfont, about 30 miles north of Philadelphia, for $12 million. The facility is located within New Britain Corporate Center and was fully leased at the time of sale to four tenants with a weighted average remaining lease term of 8.7 years. Doug Rodio, Jerome Kranzel and Bruer Kershner of CBRE represented the seller in the transaction. The buyer was Pruthi Properties.

The post Equus Capital Sells Surgical Center in Chalfont, Pennsylvania for $12M appeared first on REBusinessOnline.

CBL Properties Sells of York Town Center for $50.6M

Matthew Auchincloss — Wed, 19 Aug 2026 14:35:00 +0000

YORK, PENN. — CBL Properties, along with a 50 percent joint venture partner, has sold York Town Center, an open-air regional retail center located in the southern Pennsylvania town of York for $50.6 million. The transaction was completed at a cap rate of 8.5 percent. York Town Center features 14 stores, including DICK’S Sporting Goods, Boot Barn, Best Buy and ULTA, and spans more than 297,000 square feet. The buyer was not disclosed.

The post CBL Properties Sells of York Town Center for $50.6M appeared first on REBusinessOnline.

Buchanan Ingersoll & Rooney Extends 115,335 SF Office Lease in Downtown Pittsburgh

Taylor Williams — Wed, 19 Aug 2026 13:21:04 +0000

PITTSBURGH — Buchanan Ingersoll & Rooney has extended its 115,335-square-foot office lease in downtown Pittsburgh. The law firm will remain the anchor tenant at the Union Trust Building, a historic property located at 501 Grant St. Gerry McLaughlin of Newmark represented the tenant in the lease negotiations. Jason Stewart and Jackie Bezek of JLL represented the landlord, Boston-based owner-operator The Davis Cos., which acquired the building in 2017 and subsequently executed a $100 million redevelopment.

The post Buchanan Ingersoll & Rooney Extends 115,335 SF Office Lease in Downtown Pittsburgh appeared first on REBusinessOnline.

Charter Senior Living Breaks Ground on 162-Unit Project in West Chester, Pennsylvania

Taylor Williams — Wed, 12 Aug 2026 14:28:05 +0000

WEST CHESTER, PA. — Charter Senior Living has broken ground on a 162-unit project in West Chester, located roughly 30 miles west of Philadelphia. Charter Senior Living of West Chester will offer independent living, assisted living and memory care residences. Charter is developing the project in partnership with Paradise Management. Completion is scheduled for late next year.

The post Charter Senior Living Breaks Ground on 162-Unit Project in West Chester, Pennsylvania appeared first on REBusinessOnline.

JLL Arranges Recapitalization of Downtown Pittsburgh Mixed-Use Property

Taylor Williams — Fri, 07 Aug 2026 15:17:27 +0000

PITTSBURGH — JLL has arranged the recapitalization of Tower Two-Sixty, a mixed-use property in downtown Pittsburgh. Completed in 2016, Tower Two-Sixty consists of 130,000 square feet of office space, 14,000 square feet of retail and restaurant space, a 197-key Hilton-branded hotel and a 321-space structured parking garage. Valued at $69 million, the recapitalization entailed a ground-lease bifurcation sale of the land and financing of the leasehold improvements. Working on behalf of the owner, local developer Piatt Cos., JLL’s Nick Unkovic and Mark Popovich procured the buyer for the land component, Woodbranch Investments Corp. The duo also worked to secure the leasehold financing through Dollar Bank.

The post JLL Arranges Recapitalization of Downtown Pittsburgh Mixed-Use Property appeared first on REBusinessOnline.

Keystone Completes Office-to-Residential Conversion Project in Philadelphia

Taylor Williams — Tue, 04 Aug 2026 14:54:14 +0000

PHILADELPHIA — Local developer Keystone has completed an office-to-residential conversion project in Philadelphia’s Independence Mall district. Designed by Tantillo Architecture and built by Fasttrack Construction, the project transformed the historic, 12-story building at 400 Market St. into a 176-unit apartment complex known as 400 Market Flats. Units come in studio, one- and two-bedroom floor plans, and amenities include coworking space and a rooftop terrace. Keystone developed the project, which opened with 40 percent of the units preleased, in partnership with Lubert-Adler.

The post Keystone Completes Office-to-Residential Conversion Project in Philadelphia appeared first on REBusinessOnline.