REBusinessOnline

G.S. Wilcox Arranges $44M Construction Loan for Lehigh Valley Healthcare Project

LEHIGH COUNTY, PA. — G.S. Wilcox, a commercial mortgage banking firm based in Northern New Jersey, has arranged a $44 million construction loan for a 70,000-square-foot healthcare project in Pennsylvania’s Lehigh Valley. The exact location of the single-tenant project was not disclosed. Wesley Wilcox of G.S. Wilcox arranged the fixed-rate loan, which carried a 23-year term, on behalf of the undisclosed

Marcus & Millichap Brokers $12M Sale of Harrisburg Industrial Property

HARRISBURG, PA. — Marcus & Millichap has brokered the $12 million sale of a 927,828-square-foot industrial property in Harrisburg. The complex consists of eight buildings on a 21.3-acre site that are leased to tenants including PP&L Electric Utilities Corp., Capital Building Supply, Martin Logistics and Midwest Transport Inc. Craig Dunkle, Chad Thomason and Mher Vartanian of Marcus & Millichap represented the seller and buyer, both of which were limited liability companies that …

JLL Negotiates $62.3M Sale of Industrial Building in Easton, Pennsylvania

EASTON, PA. — JLL has negotiated the $63.2 million sale of a 307,290-square-foot industrial building in Easton, located on the eastern edge of the Lehigh Valley region. Built on 28.4 acres in 1983 and expanded in 2013, the single-tenant property is fully leased to Phillips Pet Food & Supplies, which uses the space as its corporate headquarters and primary distribution facility. John Plower, Ryan Cottone, Zach Maguire and Jeff Lockard of JLL represented the seller, an affiliate of …

Aspen Heights Partners Breaks Ground on 96-Unit Multifamily Project Near Penn State University

STATE COLLEGE, PA. — Austin, Texas-based Aspen Heights Partners has broken ground on Aspen West End, a 96-unit multifamily project that will be located within walking distance of Penn State University’s campus in State College. Amenities will include a two-story fitness room, game room and breakout study areas. Residents will also have access to shuttle service to campus and three outdoor courtyards. Completion of the project, which follows the beginning of construction of the nearby Aspen …

Rosewood Property Acquires 342-Unit Self-Storage Facility in Harrisburg

HARRISBURG, PA. — Dallas-based investment firm Rosewood Property Co. has acquired a 342-unit self-storage facility at 5700 Linglestown Road in Harrisburg. The property, which spans 35,430 net rentable square feet of primarily climate-controlled space, was converted from a warehouse into a self-storage facility in 2019. The seller and sales price were not

Trammell Crow, Diamond Realty Sell 1 MSF Valley View Trade Center in Jessup, Pennsylvania

JESSUP, PA. — A joint venture between Dallas-based Trammell Crow Co. and Diamond Realty Investments has sold Valley View Trade Center, a roughly 1 million-square-foot distribution center in Jessup, a northern suburb of Scranton. Built on a speculative basis in 2020, Valley View Trade Center features a clear height of 40 feet, truck court depths of 190 feet, an ESFR sprinkler system, 311 trailer parking spots, 277 car parking spots and 159 dock positions. Michael Hines, Brian Fiumara, Brad …

Phoenix Investors Buys 600,000 SF Industrial Property Near Pittsburgh

MCKEESPORT, PA. — Phoenix Investors, a Milwaukee-based investment firm, has purchased a 600,000-square-foot industrial property in McKeesport, located southeast of Pittsburgh in Allegheny County. The property, which was built in 1963 and subsequently renovated in 2005 and 2018, is located on a 36-acre site approximately 35 miles southeast of Pittsburgh International Airport with proximity to Interstates 70 and 76. Ned Shekels of Pennsylvania Commercial Real Estate Inc. brokered the deal, the …

Tryko Partners to Develop 46-Unit Affordable Housing Project in Pittsburgh

PITTSBURGH — New Jersey-based Tryko Partners will develop Cedarwood Homes, an age-restricted affordable housing project that will be located at the site of the former Fairywood School in Pittsburgh. The majority (39) of the units will be reserved for renters earning 60 percent or less of the area median income. The Pennsylvania Housing Finance Agency has awarded a 9 percent Low-Income Housing Tax Credit to fund the project. Completion is slated for late

ASB Real Estate, Endurance Acquire Industrial Facility in York, Pennsylvania for $91M

YORK, PA. — A joint venture between ASB Real Estate Investments and Endurance Real Estate Group has acquired York Business Center, a 1.5 million-square-foot industrial facility located in the central part of the state, for approximately $91 million. The three-building property, which was 94 percent leased at the time of sale, sits on a 119-acre site near the intersection of Interstate 83 and State Route 30. Tenants include Harley-Davidson, which operates a preassembly facility that supports …

Allegheny County Airport Authority Breaks Ground on $1.4B Terminal Modernization Project

PITTSBURGH — The Allegheny County Airport Authority has broken ground on the Terminal Modernization Program, a $1.4 billion expansion project that will add a new 700,000-square-foot terminal at Pittsburgh International Airport. The new terminal will be designed to improve the passenger experience by consolidating ticketing, security checkpoints and baggage claim. In addition, the project will add a multimodal complex that includes a new 3,300-space parking garage, rental car facilities and …

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