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Eagleview-Landing-Exton
DevelopmentMultifamilyNortheastPennsylvaniaSeniors Housing

Hankin Group to Undertake $67M Expansion of Metro Philadelphia Seniors Housing Community

by Taylor Williams

EXTON, PA. — Hankin Group will undertake a $67 million expansion project at Eagleview Landing, its senior living community in Exton, roughly 30 miles west of Philadelphia. Upon completion, the expansion will add 117 independent living residences to the property, which currently consists of 107 assisted living and memory care units and 9,000 square feet of amenity space. The new building will also feature additional amenity space, including a fitness center, indoor pool, spa, theater, game rooms and golf simulator. Residents will also have access to a parking garage, landscaped courtyards and walking trails. Completion is scheduled for November 2026.

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IndustrialLoansNortheastPennsylvania

Cushman & Wakefield Arranges $25.2M in Financing for Industrial Property in Warren, Pennsylvania

by Taylor Williams

WARREN, PA. — Cushman & Wakefield has arranged $25.2 million in financing for an 853,611-square-foot industrial property in Warren, located north of Pittsburgh. According to LoopNet Inc., the complex at 100-200 Murray Drive consists of two buildings that span 304,642 and 548,969 square feet. Building features include clear heights of up to 70 feet and 59 total dock doors. Brad Domenico, Frank Stanislaski and Ethan Thompson of Cushman & Wakefield arranged the debt on behalf of the borrower, private investor Yisroel Cherns. The direct lender was not disclosed. The property was 83 percent leased at the time of sale to tenants such as Cummins Inc., Whirley Industries and USA Medical Supplies.

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Franklin Crossroads Park
DevelopmentMixed-UseNortheastPennsylvaniaRetailTop Stories

IRG, PREP Funds Acquire Washington Crown Center in Suburban Pittsburgh, Plan Redevelopment

by Abby Cox

NORTH FRANKLIN TOWNSHIP, PA. — A partnership between Los Angeles-based Industrial Realty Group (IRG) and Cleveland-based PREP Funds has acquired Washington Crown Center, a 450,000-square-foot mall near Pittsburgh, with plans to undertake a redevelopment. As reported by regional media outlet Observer-Reporter, as well as several other media sources, IRG and PREP Funds are jointly investing $40 million for the transformation of the former mall into a mixed-use hub for retail and business that will be called Franklin Crossroads Park. In addition, according to Pittsburgh Business Times, New York-based Kohan Retail Investment Group originally purchased the mall for $20 million in 2016 and began marketing the property for sale in 2024. Construction of Franklin Crossroads Park, which is situated 30 miles south of Pittsburgh in Washington County along I-70, is set to begin this fall. Meanwhile, a portion of the mall will remain open through the end of the year. “Our vision is to diversify the site’s use by attracting new retailers and businesses to the property,” says Chris Salata, partner at PREP Funds. “This adaptive reuse project will significantly improve the facility and bring new economic activity.”  Redevelopment plans for Franklin Crossroads Park currently call for the creation of a 100,000-square-foot retail …

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Affordable HousingDevelopmentMultifamilyNortheastPennsylvania

Odin Properties Breaks Ground on 51-Unit Affordable Housing Project in Philadelphia

by Taylor Williams

PHILADELPHIA — Locally based developer Odin Properties has broken ground on Sepviva Lofts, a 51-unit affordable housing project that will be located in Philadelphia’s Kensington neighborhood. Sepviva Lofts will be located on the site of a former industrial facility and will offer one-, two- and three-bedroom units. Amenities will include a community room, computer lab, onsite laundry facilities and a playground. Information on specific income restrictions, as well as a tentative completion date, was not announced. Odin is developing the property in partnership with RB Development and Liberty Housing Development Corp.

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Lakeside-Logistics-Center-Plant-City-Florida
FloridaIndustrialLoansNortheastPennsylvaniaSoutheastTop Stories

PCCP Provides $245.8M in Financing for Eight Industrial Buildings in Pennsylvania, Florida

by Taylor Williams

LOS ANGELES — Los Angeles-based PCCP LLC has provided $245.8 million in financing for eight industrial buildings in Pennsylvania and Florida. Six of the buildings are located in Central Pennsylvania, and the other two are located along the I-4 corridor in Florida. PCCP packaged the funds within three senior loans, proceeds of which will be used to refinance existing debt. The eight buildings are concentrated within three industrial developments. The borrower is CBRE Investment Management, and the loans were placed by Scott Lewis, Matt Ballard, Christine Dierker and Brooke Kellam of CBRE. In the first transaction, PCCP provided a $142.4 million loan for Capital Logistics Center in Middletown, Pa. The development consists of six buildings that were constructed between 1970 and 2018 and range in size from 115,890 to 400,060 square feet. Buildings feature an average clear height of 32 feet and a combined 147 dock doors, 10 drive-in doors, 649 car parking spaces and 129 trailer parking stalls. Capital Logistics Center was 92 percent leased at the time of the loan closing. In the second deal, PCCP provided a $70 million loan for Centerstate Logistics Center, a 1 million-square-foot development in Lakeland, Fla. Delivered in 2021, Centerstate Logistics Center …

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Phoenix-Tube-Co.-Bethlehem-Pennsylvania
DevelopmentIndustrialNortheastPennsylvania

Phoenix Tube Nears Completion of 75,000 SF Industrial Expansion Project in Bethlehem, Pennsylvania

by Taylor Williams

BETHLEHEM, PA. — Phoenix Tube Co., a manufacturer of stainless steel products for ornamental and structural applications, is nearing completion of a 75,000-square-foot industrial expansion project in the Lehigh Valley city of Bethlehem. The facility will be situated next to the company’s existing 200,000-square-foot plant and includes dedicated space for production, warehousing and offices. Regional developer J.G. Petrucci Co. is serving as the design-build firm for the project. Construction is expected to be complete in the coming weeks.

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2748-Grant-Ave.-Philadelphia
DevelopmentIndustrialNortheastPennsylvania

Crow Holdings to Develop 103,500 SF Spec Industrial Project in Northeast Philadelphia

by Taylor Williams

PHILADELPHIA — Crow Holdings Development will build a 103,500-square-foot speculative industrial project at 2748 Grant Ave. in northeast Philadelphia. The single-story warehouse and distribution building will feature 32-foot ceiling heights, 32 dock positions, two drive-in doors and parking for 65 vehicles. M+H Architects is designing the project, and BH Cos. is providing engineering services. Oline Construction is the general contractor. JLL brokered the land deal, the seller in which was James D. Morrissey Inc. Construction, and has also been retained as the leasing agent. Completion is slated for mid-2026.

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Bensalem-Crossings
AcquisitionsNew JerseyNortheastPennsylvaniaRetail

Hanley Investment Group Arranges $12.5M Sale of Metro Philadelphia Shopping Center

by Taylor Williams

BENSALEM, PA. — Hanley Investment Group Real Estate Advisors has arranged the $12.5 million sale of Bensalem Crossings, a 67,215-square-foot shopping center located roughly 19 miles north of Philadelphia. Bensalem Crossings was fully leased at the time of sale, with ShopRite and CVS occupying 93 percent of the space. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley, in association with ParaSell Inc., represented the seller, Adler Realty Investments Inc., in the transaction. The team also procured the buyer, an undisclosed, Southern California-based private investor.

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DevelopmentIndustrialNortheastPennsylvania

Bosch Rexroth Breaks Ground on 50,000 SF Industrial Expansion Project in Bethlehem, Pennsylvania

by Taylor Williams

BETHLEHEM, PA. — Bosch Rexroth, a provider of industrial machinery, has broken ground on a 50,000-square-foot industrial expansion project in the Lehigh Valley city of Bethlehem. The new building at 2300 City Line Road will be an expansion of the company’s existing facility, which has been operating in the area for nearly 60 years. Regional developer J.G. Petrucci Co. is serving as the general contractor for the project. Construction is expected to be complete in mid-2026.

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IndustrialLoansNortheastPennsylvania

Affinius Capital Provides $132.4M Loan for Refinancing of Metro Philadelphia Industrial Property

by Taylor Williams

BUCKS COUNTY, PA. — Affinius Capital has provided a $132.4 million loan for the refinancing of an 815,000-square-foot industrial property located northeast of Philadelphia in Bucks County. Known as Lower Bucks Logistics Hub, the newly constructed facility comprises two buildings — a 361,000-square-foot rear-load structure and a 453,000-square-foot cross-dock structure — with clear heights of 40 feet. Chad Orcutt and Michael Pagniucci of JLL arranged the loan through Affinius Capital on behalf of the borrower, a joint venture between an affiliate of Boston-based Foxfield, and an undisclosed, New York-based real estate private equity firm.

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