Pennsylvania

IPA Brokers $17.5M Sale of Office Building in Norristown, Pennsylvania

by David Cohen January 18, 2019

NORRISTOWN, PA. — Institutional Property Advisors (IPA) has brokered the $17.5 million sale of a 102,894-square-foot office building in Norristown. Located at 1000 Madison Ave., five tenants fully occupy the three-story property, including the Commonwealth of PA, which occupies 37 percent of the building. The property was constructed in 1990 and includes 469 surface parking spaces. John Abuja and Robert Filley of IPA along with David Beyel, Lawrence Gariano and Robert Bechtel of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was a regional investor.

January 18, 2019

Acquisitions Industrial Northeast Pennsylvania

Markward Group Negotiates Sale of 32,000 SF Flex Facility in Bethlehem, Pennsylvania

by David Cohen January 16, 2019

BETHLEHEM, PA. — Markward Group has negotiated the sale of a 32,000-square-foot flex facility in Bethlehem. The sales price was undisclosed. Located at 2147 Ave. C, the property consists of a 30,500-square-foot heated warehouse and 1,500 square feet of office space. Michael Capobianco of Markward Group represented both the buyer, J.G. Petrucci, and the undisclosed seller in the transaction.

January 16, 2019

Acquisitions Development Northeast Pennsylvania

Colliers Orchestrates Sale of 29-Acre Development Site in Bethlehem, Pennsylvania

by David Cohen January 15, 2019

BETHLEHEM TOWNSHIP, PA. — Colliers International has arranged the sale of a 29-acre development site in Bethlehem Township. The sales price was not disclosed. The parcel is located near Route 33, I-78 and Route 22. Future plans have not been finalized, but the property’s zoning allows for multiple uses. Kelly Berfield and Ryan Dietrick of Colliers International’s Allentown office represented the buyer, River Hills Estates, in the transaction. The seller was Joanne Turocy.

January 15, 2019

Acquisitions Northeast Office Pennsylvania

Markward Group Brokers Sale of 38,348 SF Office Building in Bethlehem, Pennsylvania

by David Cohen January 14, 2019

BETHLEHEM, PA. — Markward Group has brokered the sale of a 38,348-square-foot office building in Bethlehem. The sales price was undisclosed. Located at 90 Highland Ave., the property is currently occupied by tenants BB&T bank and Kafafian Group. Ann Kline of Markward Group represented the seller, BB&T Bank, in the transaction. BB&T will remain a tenant in the building. The buyer was 90 Highland LLC.

January 14, 2019

Loans Multifamily Northeast Pennsylvania

Hunt Real Estate Capital Secures $5.85M Refinancing for Multifamily Community in Philadelphia

by David Cohen January 9, 2019

PHILADELPHIA — Hunt Real Estate Capital has secured a $5.85 million loan to refinance Terrace Lofts, a four-story, 32-unit multifamily building in the Manayunk neighborhood of Philadelphia. The property includes both one- and two-bedroom floor plans. Hunt Real Estate Capital secured a 10-year, fixed-rate loan with a 30-year amortization schedule on behalf of the borrower, a local real estate investor. The lender was not disclosed.

January 9, 2019

Acquisitions Multifamily Northeast Pennsylvania Seniors Housing

Blueprint Negotiates Sale of Three-Property Skilled Nursing Portfolio in Pennsylvania

by David Cohen January 9, 2019

SCRANTON, PA. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a three-property skilled nursing portfolio in the Wyoming Valley region of Northeast Pennsylvania. Blueprint represented the sellers, a private investor and regional operator. A REIT, along with an operational partner with an existing presence in the state, acquired the properties for an undisclosed price. Located along a 25-mile stretch in the Scranton/Wilkes-Barre market, the portfolio consists of 416 licensed beds. Ownership recently completed substantial renovations. The facilities were 85 percent occupied and generating over $34 million in total revenue with improving operating margins. Christopher Hyldahl, Michael Segal and Gideon Orion of Blueprint handled the transaction.

January 9, 2019

Acquisitions Northeast Office Pennsylvania

HFF Negotiates $52M Sale of Office Complex in Conshohocken, Pennsylvania

by David Cohen January 7, 2019

CONSHOHOKEN, PA. — HFF has negotiated the $52 million sale of Millennium I, II and III, a three-building creative office complex in Conshohocken. Located at 20 Ash St. and 225 and 227 Washington St., the 196,769-square-foot complex was built between 2000 and 2003. Doug Rodio, Brett Segal and Tom Hall of HFF represented the seller, a fund managed by Stabilis Capital Management, in the transaction. The buyer was Morgan Properties Inc.

January 7, 2019

Industrial Leasing Activity Northeast Pennsylvania

Urban Outfitters Signs 309,000 SF Industrial Lease at Bristol Commerce Center in Pennsylvania

by David Cohen January 4, 2019

BRISTOL TOWNSHIP, PA. — Urban Outfitters has signed a 309,000-square-foot industrial lease at the Bristol Commerce Center in Bristol Township. The clothing retailer will occupy a new industrial facility on 20 of the industrial park’s 81 acres. Construction on the fabric warehouse began in December and is expected to be ready for occupancy by mid-year. Current tenants at the Bristol Commerce Center include XPO Logistics, AirGas Corp., Goodyear and PetValu.

January 4, 2019

Acquisitions Multifamily Northeast Pennsylvania

Gebroe-Hammer Negotiates $4.5M Sale of Multifamily Building in Philadelphia

by David Cohen January 2, 2019

PHILADELPHIA — Gebroe-Hammer has negotiated the $4.5 million sale of a 22-unit apartment building in the Francisville neighborhood of Philadelphia. Located at 909 Corinthian Ave., the five-story property consists of a mix of one- and two-bedroom apartments. Joseph Gehler and Eli Rosen of Gebroe-Hammer represented the undisclosed seller in the transaction. The buyer was also undisclosed.

January 2, 2019

Industrial Loans Northeast Pennsylvania

HFF Secures $23.5M Acquisition Financing for Industrial Park near Philadelphia

by David Cohen December 20, 2018

EDDYSTONE, PA. — HFF has secured $23.5 million in acquisition financing for Eddystone Industrial Park, a four-building industrial park in the Philadelphia suburb of Eddystone. Located at 1001 Industrial Highway, the park totals 465,680 square feet and is spread across more than 43 acres. The property features clear heights ranging from 18 to 60 feet as well as 52 dock doors and 16 drive-in doors. Michael Pagniucci and Ryan Ade of HFF worked on behalf of the borrower, Foxfield Industrial, to secure financing through a regional commercial bank. Terms of the financing were not disclosed.

December 20, 2018

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