Thursday, September 4, 2025
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Pennsylvania

Frankford-Grand-Philadelphia
DevelopmentNortheastPennsylvania

U.S. Development Completes 107-Unit Multifamily Project in Philadelphia

by Taylor Williams

PHILADELPHIA — U.S. Development has completed Frankford Grand, a 107-unit multifamily project in Philadelphia’s Fishtown neighborhood. The five-story building houses 50 studios, 32 one-bedroom units and 25 two-bedroom apartments, as well as 15,000 square feet of retail space across two levels. Amenities include a fitness center, private courtyard garden and a rooftop deck. Rents start at $1,100 per month for a studio apartment. U.S. Development has tapped Jim Onesti and Evangeline Gambardella of The Mike McCann Team to market and lease the property.

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AcquisitionsIndustrialNortheastPennsylvania

NAI Summit Arranges $3M Sale of Former Crayola Warehouse, Distribution Center in Lehigh Valley

by Taylor Williams

EASTON, PA. — NAI Summit has arranged the $3 million sale of the historic former Crayola warehouse and distribution center in the Lehigh Valley community of Easton. Originally built in the 1890s as a manufacturing facility by Crayola predecessor Binney & Smith, the property consists of four buildings totaling 94,000 square feet on an 8.9-acre site. Matt Sprung of NAI Summit represented the seller, an out-of-state investor, in the deal. A local developer purchased the property with plans to implement a residential conversion.

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AcquisitionsMultifamilyNortheastPennsylvaniaSeniors Housing

ESI Negotiates Sale of Continuing Care Retirement Community in Somerset, Pennsylvania

by Taylor Williams

SOMERSET, PA. — Evans Senior Investments (ESI) has negotiated the sale of The Patriot, a continuing care retirement community (CCRC) in Somerset, located in southwest Pennsylvania. The transaction was executed on behalf of a nonprofit organization. The CCRC features 100 licensed skilled nursing beds, 47 personal care units and two independent living units. At the time of sale, the skilled nursing component of the property was 77 percent occupied, and the personal care beds were 47 percent occupied.

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HospitalityLoansNortheastPennsylvania

Largo Capital Arranges $7.8M Loan for Refinancing of Metro Philadelphia Hotel

by Taylor Williams

WARMINSTER, PA. — Largo Capital, a financial intermediary based in upstate New York, has arranged a $7.8 million loan for the refinancing of the 92-room Holiday Inn Express & Suites hotel in Warminster, a northern suburb of Philadelphia. The hotel offers amenities such as a pool, fitness center and complimentary breakfast. Katie Vivian of Largo Capital originated the nonrecourse loan, which carried a five-year term and 30-year amortization schedule. The borrower and direct lender were not disclosed.

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Leasing ActivityLife SciencesNortheastPennsylvania

KOKO Medical Signs 19,859 SF Life Sciences Lease in Exton, Pennsylvania

by Taylor Williams

EXTON, PA. — KOKO Medical has signed a 19,859-square-foot life sciences in Exton, a western suburb of Philadelphia. The medical device and women’s healthcare provider is relocating and expanding from nearby Malvern to the 63,000-square-foot building at 770 Pennsylvania Drive, which is part of the 800-acre Eagleview mixed-use development. Mitch Reading of Tactix Real Estate Advisors represented the tenant in the lease negotiations. Sam Sherrill represented the landlord, Hankin Group, on an internal basis.

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AcquisitionsHospitalityNortheastPennsylvania

Marcus & Millichap Brokers Sale of 69-Room Hotel in Pittsburgh

by Taylor Williams

PITTSBURGH — Marcus & Millichap has brokered the sale of the 69-room Hampton Inn Pittsburgh/West Mifflin hotel. Built in 1997 and renovated in 2018, the hotel is located about eight miles south of the downtown area and offers amenities such as an outdoor pool, fitness center and a business center. Alexandre Duong and Kevin Laureno of Marcus & Millichap represented the seller, Seaview Hospitality, in the auction sale. The duo, along with Adam Sklaver and Philip Kates of Marcus & Millichap, also secured the private buyer.

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Leasing ActivityNortheastPennsylvaniaRetail

GIANT to Open 50,000 SF Grocery Store at Andorra Shopping Center in Philadelphia

by Taylor Williams

PHILADELPHIA — Grocery chain GIANT will open a 50,000-square-foot store at Andorra Shopping Center in Philadelphia. The center’s owner, Federal Realty Investment Trust, will develop the grocery space from the ground up beginning next year and also reposition 30,000 square feet of existing retail space. The two projects represent a combined investment of $25 million. Repositioning plans include the addition of landscaped plazas, outdoor dining and curbside pick-up spaces as well as expanded sidewalks.

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AcquisitionsNortheastPennsylvaniaRetail

Colliers Brokers $5.4M Sale of Retail Strip Center in Trexlertown, Pennsylvania

by Taylor Williams

TREXLERTOWN, PA. — Colliers has brokered the $5.4 million sale of Shepherd’s Corner, a 9,512-square-foot retail strip center in the Lehigh Valley community of Trexlertown. The center was fully leased at the time of sale to tenants such as Supercuts, The UPS Store, Not Just Bagels and Capriotti’s Sandwich Shop. Derek Zerfass and Jeff Algatt of Colliers represented the undisclosed seller in the transaction. Robbie Stephens of Rudy Amelio Real Estate represented the buyer, a high-net-worth individual who also requested anonymity.

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AcquisitionsIndustrialNortheastPennsylvania

Partnership Acquires 200,359 SF Industrial Portfolio in West Norriton, Pennsylvania

by Taylor Williams

WEST NORRITON, PA. — A partnership between Endurance Real Estate Group and Greystar-Thackeray has acquired a six-building, 200,359-square-foot industrial portfolio in West Norriton, a northwestern suburb of Philadelphia. The properties, which were fully leased to 15 tenants at the time of sale, feature clear heights of 18 to 20 feet and a total of 530 parking spaces and 46 loading positions. Gerry Blinebury, Jonas Skovdal and Brendan McGeary of Cushman & Wakefield represented the undisclosed seller in the transaction. John Alascio, Aaron Graves and T.J. Sullivan, also with Cushman & Wakefield, arranged an undisclosed amount of acquisition financing for the deal.

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AcquisitionsMultifamilyNortheastPennsylvania

Berkadia Arranges $23M Sale of Multifamily Portfolio in Blackwood, New Jersey

by Taylor Williams

BLACKWOOD, N.J. — Berkadia has arranged the $23 million sale of three multifamily properties totaling 208 units in Blackwood, a suburb of Philadelphia. Blackwood Falls, Blackwood Terrace and Foxcroft Apartments had a combined occupancy rate of 85 percent at the time of sale. Nat Gambuzza and Trevor Fiebel of Berkadia represented the seller, Penn Properties, in the transaction while also procuring the buyer, Silverstone Properties. The new ownership assumed the seller’s existing debt at Blackwood Falls and Blackwood Terrace and plans to implement capital improvements across the portfolio.

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