Tuesday, September 2, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Pennsylvania

1760-Market-St.-Philadelphia
AcquisitionsNortheastOfficePennsylvania

Stockton Real Estate Negotiates Sale of 126,000 SF Office Building in Downtown Philadelphia

by Taylor Williams

PHILADELPHIA — Stockton Real Estate Advisors has negotiated the sale of 1760 Market Street, a 126,000-square-foot office building in downtown Philadelphia. The building offers a tenant lounge and conference center, as well as indoor bike storage space. Stockton previously co-owned the building and repositioned the asset for sale in 2018 via renovation of the penthouse suite, which now features private rooftop decks and mezzanine space, as well as the introduction of new building systems. The buyer and seller were not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
Mount-Penn-Manor-Reading
AcquisitionsMultifamilyNortheastPennsylvaniaTop Stories

Morgan Properties Acquires 3,434-Unit Multifamily Portfolio in Pennsylvania

by Taylor Williams

CONSHOHOCKEN, PA. — Morgan Properties, a development and investment firm based in metro Philadelphia, has acquired a portfolio of 11 multifamily properties totaling 3,434 units in Pennsylvania. Morgan purchased the properties from their original developer, DePaul Management Co. The price was not disclosed. Matt Stefanski and Zachary Pierce of Berkadia brokered the transaction. The portfolio consists of: The new ownership plans to invest more than $80 million in capital improvements to the portfolio. Renovations will feature upgrades to units’ kitchens and bathrooms, as well as the installation of in-unit washers and dryers. Morgan will update lighting, landscaping, roofing and parking areas at all properties and install high-efficiency heating systems. Amenity and common area enhancements will also be undertaken throughout the portfolio. These initiatives will include fitness center upgrades and expansions; construction of exterior dog parks and pet wash stations; and additions of new amenities like Amazon package hubs, playgrounds, pickleball courts and outdoor grilling and dining stations. “The DePaul acquisition directly supports our strategic goal of acquiring large multifamily portfolios with high barriers to entry where our market concentration will enable us to achieve operational efficiencies and capitalize on economies of scale,” says Jonathan Morgan, president of Morgan Properties. — …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMultifamilyNortheastPennsylvaniaSeniors Housing

Prestige Group Brokers Sale of 220-Bed Former Assisted Living Facility in Milton, Pennsylvania

by Taylor Williams

MILTON, PA. ­— The Prestige Group Realty Advisors has brokered the sale of Rockwell Center, a 220-bed former assisted living community in Milton, a borough in Central Pennsylvania. In the early 1980s, a local real estate entrepreneur purchased a former Milton high school and repositioned the property for seniors housing usage. The founder’s family made the decision to close the facility in June 2023. The buyer was a local real estate entrepreneur who plans to reopen the facility.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentHealthcareLeasing ActivityNortheastPennsylvania

MCB Real Estate Breaks Ground on 60,000 SF Medical Office Building in Metro Philadelphia

by Taylor Williams

DREXEL HILL, PA. — MCB Real Estate, a Baltimore-based development and investment firm, has broken ground on a 60,000-square-foot medical office building in Drexel Hill, a western suburb of Philadelphia. The three-story structure will be known as Drexeline Medical Office Building and is fully preleased to Delaware County Human Services (45,000 square feet) and Children’s Hospital of Philadelphia (15,000 square feet). Delivery is slated for the second quarter of 2025. Scott Williams of JLL represented MCB in both deals.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityNortheastOfficePennsylvania

PPR Capital Management Signs 12,800 SF Office Headquarters Lease in Wayne, Pennsylvania

by Taylor Williams

WAYNE, PA. — Private equity real estate firm PPR Capital Management has signed a 12,800-square-foot office headquarters lease in Wayne, a northwestern suburb of Philadelphia. The company is relocating from a 7,000-square-foot space in nearby Berwyn. The new space is located within the CrossPoint complex and features 41 open-seat desks, eight dedicated offices, a boardroom, six conference rooms, three open huddle areas, a phone room and a podcast room. KBS Realty Advisors owns CrossPoint.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialNortheastPennsylvania

MAG Capital Partners Buys Two Western Pennsylvania Manufacturing Facilities via Sale-Leaseback

by Taylor Williams

SHARON, PA. — MAG Capital Partners has purchased two manufacturing facilities totaling 62,063 square feet in Sharon, located on the Ohio-Pennsylvania border. The company acquired the adjacent properties via a sale-leaseback with HuFriedy Group, a manufacturer of dental supplies and equipment. J.C. Asensio, Andrew Sandquist and Briggs Goldberg of Newmark represented the seller in the transaction. The sales price was not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMultifamilyNortheastPennsylvania

Hudson Atlantic Arranges Sale of 57-Unit Apartment Building in Drexel Hill, Pennsylvania

by Taylor Williams

DREXEL HILL, PA. — Regional brokerage firm Hudson Atlantic has arranged the sale of Garrett House Apartments, a 57-unit multifamily building in Drexel Hill, a western suburb of Philadelphia. The property was built in 1960 and exclusively houses one-bedroom units. Adam Zweibel led the Hudson Atlantic team that brokered the deal, which traded at a price of $6 million and a cap rate of 5.75 percent. The buyer and seller, which was also the original owner, were not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialNortheastPennsylvania

Midland Properties Buys 70,000 SF Industrial Property in Metro Philadelphia

by Taylor Williams

CONSHOHOCKEN, PA. — New York-based investment firm Midland Properties has purchased a 74,703-square-foot industrial property in Conshohocken, a northern suburb of Philadelphia. The sales price was $2.9 million. The site at 1304 Conshohocken Road spans 5.6 acres and houses multiple buildings and outdoor storage space. Steve Marzullo, Adam Silverman and Michael Roden of CBRE represented the seller, Pennsylvania-based Emanuel Properties, in the negotiations.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsNortheastPennsylvaniaRetail

Marcus & Millichap Brokers $10.1M Sale of Retail Building in Bellefont, Pennsylvania

by Taylor Williams

BELLEFONT, PA. — Marcus & Millichap has brokered the $10.1 million sale of a retail building in Bellefont, about 120 miles northwest of Harrisburg, that is net leased to grocer Giant Food. The building was constructed in 2022 and is part of Paradise Shopping Center. Dean Zang, Brad Nathanson and David Crotts of Marcus & Millichap represented the seller, a Pennsylvania-based developer, in the transaction. JRW Realty represented the buyer, an affiliate of Exchange Right.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentHealthcareNortheastPennsylvania

Children’s Hospital of Philadelphia Tops Out $480M Healthcare Facility

by Taylor Williams

PHILADELPHIA — The Children’s Hospital of Philadelphia (CHOP) has topped out the Morgan Center for Research & Innovation, a healthcare project valued at $480 million. The 17-story, 350,000-square-foot facility is located on CHOP’s campus in South Philadelphia and will include both wet and dry lab space. Construction began in October 2022, and the development team includes a trio of general contractors and construction managers: Gilbane Building Co., Pride Enterprises and McKissack & McKissack. Mitchell Morgan, founder and chairman of multifamily development firm Morgan Properties, and his family donated $50 million to the project. Full completion is slated for some time next year.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts