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Pennsylvania

Trailside-Village-Forks-Township-Pennsylvania
DevelopmentMultifamilyNortheastPennsylvania

Larken Associates Breaks Ground on 420-Unit Multifamily Project in Forks Township, Pennsylvania

by Taylor Williams

FORKS TOWNSHIP, PA. — New Jersey-based developer Larken Associates has broken ground on Trailside Village, a 420-unit multifamily project in the Lehigh Valley community of Forks Township. Situated on 37 acres, the community will consist of 21 buildings, including 12 garden-style apartment buildings with one- and two-bedroom units, seven garage buildings and two mixed-use buildings with 26,795 square feet of retail space. Tenants will have access to indoor amenities such as a clubhouse with game room, lounge, work pods, fitness center, pet spa, mailroom package concierge and storage space. Outdoor amenities will include a pool with a tanning ledge and lounge seating, barbecue grilling stations, a fire pit, children’s playground, dog park and walking and biking trails. Completion is slated for 2026.

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AcquisitionsNortheastPennsylvaniaRetail

CBRE Brokers Sale of 103,325 SF Retail Center Near Philadelphia

by Taylor Williams

NORTH WALES, PA. — CBRE has brokered sale of The Shoppes at English Village, a 103,325-square-foot retail center in North Wales, about 25 miles north of Philadelphia. Trader Joe’s anchors the property, which was 95 percent leased at the time of sale. Other tenants include LensCrafters, Athleta, CycleBar, Hallmark, Chopt and Talbots. Chris Munley, Colin Behr, Ryan Sciullo, Casey Benson Smith, R.J. Mirabile and Michael Pascavis of CBRE represented the seller, MetLife Investment Management, in the transaction. Adam Spengler and Tom Traynor, also with CBRE, arranged acquisition financing on behalf of the buyer, Nuveen Real Estate.

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Keystone-Villa-at-Douglassville
LoansMultifamilyNortheastPennsylvaniaSeniors Housing

BWE Arranges $57.8M Loan for Refinancing of Seniors Housing Property in Douglassville, Pennsylvania

by Taylor Williams

DOUGLASSVILLE, PA. — BWE, the commercial finance firm formerly known as Bellwether Enterprise Real Estate Capital, has arranged a $57.8 million loan for the refinancing of Keystone Villa at Douglassville, a 248-unit seniors housing property located about 55 miles northwest of Philadelphia. The property comprises a 123-unit independent living building that was constructed in 2015 and a 125-unit assisted living and memory care building that was constructed in 2011. Ryan Stoll and Taylor Mokris of BWE arranged the nonrecourse loan through Commercial Bank on behalf of the borrower, a joint venture between private investment trust ReNew REIT and operator Heritage Senior Living. The property was 92 percent occupied at the time of the loan closing.

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Leasing ActivityNortheastPennsylvaniaRestaurantRetail

honeygrow to Open Four New Restaurants in Northeast

by Taylor Williams

PHILADELPHIA — honeygrow, a Philadelphia-based fast casual eatery known for made-to-order stir-fry, salads and honeybars, has signed leases to open four new restaurants in the Northeast. The restaurants will be located within the Lakeway Commons shopping center in Shrewsbury, Mass.; at the 150-acre Waldorf Station development in Waldorf, Md.; in the newly constructed Freehold Marketplace in Freehold, N.J.; and within Beltway Towne Center in Mechanicsburg, Pa. All openings are slated for 2025.

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Leasing ActivityNortheastOfficePennsylvania

CenterSquare Opens 24,000 SF Office Headquarters in Conshohocken, Pennsylvania

by Taylor Williams

CONSHOHOCKEN, PA. — CenterSquare Investment Management has opened its new, 24,000-square-foot office headquarters in Conshohocken, a northern suburb of Philadelphia. Designed by local architecture firm Meyer, the space features a variety of workspaces, including private offices, workstations, conference rooms and collaborative areas. The facility also offers a centralized hub-style café. American Real Estate Partners owns the building.

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IndustrialLeasing ActivityNortheastPennsylvania

Colliers Negotiates 123,102 SF Industrial Lease Renewal in Northeast Philadelphia

by Taylor Williams

PHILADELPHIA — Colliers has negotiated a 123,102-square-foot industrial lease renewal at 10981 Decatur Road in northeast Philadelphia. The tenant is Chaby International, a warehouse operator and distributor of rainwear and seasonal products. Richard Gorodesky and Adam Gorodesky of Colliers represented the landlord, SANT Properties, in the lease negotiations. The tenant was self-represented. Other users at the property include EMCOR Services Fluidics, a provider of building and infrastructure services, and cocoa bean warehouse operator Dependable Distribution Services.

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Comcast-Spectacor-Philadelphia
DevelopmentNortheastPennsylvaniaRestaurantRetail

Comcast Spectacor, Cordish Provide Updates on Redevelopment of South Philadelphia Sports Complex

by Taylor Williams

PHILADELPHIA — Philadelphia-based Comcast Spectacor, in partnership with Cordish Cos., a Baltimore-based developer specializing in sports-anchored entertainment districts, has provided updates on the redevelopment of the Xfinity Live! sports complex in South Philadelphia. New developments include the transformation of the Live! plaza into a central two-story building featuring a rooftop oasis known as AVA Rooftop Bar; the expansion of the PBR Cowboy Bar via an outdoor backyard area with a stage and new bar offerings; and a new and improved turf area that will provide flexible space for various activities and community activations. Construction is expected to be fully complete by early 2026, and the facility will remain open while work is ongoing.

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Leasing ActivityNortheastPennsylvaniaRetail

Apple Cinemas to Open 17-Screen Theater Near Downtown Philadelphia

by Taylor Williams

PHILADELPHIA — Metro Boston-based Apple Cinemas will open a 17-screen theater near downtown Philadelphia. The company will backfill a former theater space of Regal Cinemas at Riverview Plaza III, which is owned by Philadelphia-based Tower Investments. Soloff Realty & Development Inc. represented the landlord in the lease negotiations. The opening is scheduled for fall 2025.

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IndustrialLeasing ActivityNortheastOfficePennsylvania

Newmark Negotiates 34,493 SF Lease at Industrial Flex Building in Plymouth Meeting, Pennsylvania

by Taylor Williams

PLYMOUTH MEETING, PA. — Newmark has negotiated a 34,493-square-foot lease in Plymouth Meeting, a northwestern suburb of Philadelphia. The tenant, HVAC and plumbing services provider Donnelly’s Home Comfort Specialists, is taking space at the 143,000-square-foot industrial flex building at 1 Innovation Drive. Jim Dugan, Justin Bell and Patrick Nowlan of Newmark represented the landlord, Alliance HP, in the lease negotiations. The name of the tenant representative was not disclosed.

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Mi-Place-@-Downingtown
LoansMultifamilyNortheastPennsylvania

CBRE Arranges $47.5M Loan for Refinancing of Metro Philadelphia Apartment Complex

by Taylor Williams

DOWNINGTOWN, PA. — CBRE has arranged a $47.5 million bridge loan for the refinancing of Phase I of Mi-Place@Downingtown, a 205-unit apartment complex located on the western outskirts of Philadelphia. The property comprises six three-story buildings that house one- and two-bedroom apartments and three-bedroom townhomes. Amenities include a pool, fitness center, clubhouse, outdoor grilling and dining stations and pickleball and basketball courts. Matthew Klauer and Cassandra Russell of CBRE arranged the three-year loan through an entity managed by Argentic Investment Management on behalf of the sponsor, Fernmoor Homes. At full build-out, Mi-Place@Downingtown will total 400 units.

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