MOOSIC, PA. — Apparel and jewelry retailer Versona has signed a 10,000-square-foot retail lease at The Shoppes at Montage Mountain, a retail center located in Moosic in the Wilkes-Barre/Scranton area. The official opening is slated for September 24. Approximately 95 percent of the center’s tenants that were affected by the pandemic have since reopened. U.S. Properties Group owns the center.
PHILADELPHIA — Rittenhouse Realty Advisors has brokered the sale of LVL 4125, a 141-unit apartment community located at 4125 Chestnut St. in the University City neighborhood of Philadelphia. Alterra Property Group developed the community, which features proximity to the University of Pennsylvania and Drexel University, in 2019. Units offer stainless steel appliances and individual washers and dryers, and amenities include a roof deck, fitness center, clubroom and a dog run. The buyer was not disclosed.
EXTON, PA. — Newmark Knight Frank (NKF) has provided an $87 million Freddie Mac loan for the refinancing of Exton Crossing, a 405-unit apartment community in Exton, about 35 miles west of Philadelphia. The garden-style property was built in 1998 and is located within walking distance to SEPTA’s Exton Regional rail station Exton Crossing features one-, two- and three-bedroom units with stainless steel appliances, in-unit washers and dryers and private patio and balcony spaces. Amenities include a pool, fitness center, outdoor grilling areas and a pet park. Henry Stimler, Matthew Mense, Bill Weber and Dan Sarsfield of NKF originated the floating-rate loan on behalf of the borrower, Harbor Group International.
WEST CHESTER, PA. — Pennsylvania-based Kendal Corp. has completed construction of Preston, an expansion of its Barclay Friends seniors housing community in West Chester, approximately 25 miles west of Philadelphia. Preston features 60 new apartments, including 20 for memory care services, across 61,000 square feet. The building was named after Dr. Ann Preston, a 19th century Quaker activist who was one of the first women in America to become a medical doctor.
PHILADELPHIA — National Real Estate Advisors LLC (NREA) has opened a 236-room hotel under the Canopy by Hilton luxury brand in Philadelphia’s Center City neighborhood. BLT Architects designed the project, which is an adaptive reuse of Philadelphia’s historic Stephen Girard Building, which was built in 1896 as the headquarters of the Directors of City Trusts. Amenities include a 24-hour fitness center, 3,600 square feet of indoor and outdoor meeting space and complimentary bike service for exploring the city. Restaurant seating is currently limited due to COVID-19. Davidson Hotels & Resorts is the operator of the hotel.
NORTH STRABANE TOWNSHIP, PA. — HJ Sims has arranged $29.3 million in financing for the development of Encore on the Lake, an 80-unit independent living community in North Strabane Township, approximately 20 miles southwest of Pittsburgh. Presbyterian Senior Care (PSC) is developing the four-story community, which will target middle-income residents. Partners on the project include Senior Housing Partners, a subsidiary of Presbyterian Homes & Services. The financing comprises $26 million of senior debt financing from First National with a 28-year maturity and $3.3 million of supplemental financing from Washington Financial with a 10-year maturity.
MECHANICSBURG, PA. — Pet food provider Nestlé Purina will invest $167 million in the expansion of its manufacturing and distribution facility in Mechanicsburg, located southwest of Harrisburg. The project will add new processing and packaging lines to the operation. Purina, which currently employs about 320 people at this facility, expects to hire about 95 more workers following the completion of the expansion. A construction schedule was not released.
PITTSBURGH — Los Angeles-based Integrated Capital has completed the multimillion-dollar renovation of the 140-room DoubleTree by Hilton Hotel Pittsburgh. The project upgraded the bedding and televisions of the rooms, as well as the painting and lighting of the hallways. The six-story hotel, which is located adjacent to the Meadows Racetrack & Casino, also offers amenities such as a pool, fitness center, two restaurants and 13,000 square feet of meeting and event space.
PHILADELPHIA — JLL has negotiated the sale of Columbus Crossing, a 140,418-square-foot retail center located along Christopher Columbus Boulevard in southeastern Philadelphia. The open-air, riverfront property was fully leased at the time of sale to tenants such as T.J. Maxx, HomeGoods, Ulta Beauty, Planet Fitness, Chipotle Mexican Grill and AT&T. In addition, a Walmart and Home Depot shadow-anchor the center. Chris Munley, Jim Galbally and Colin Behr of JLL represented the undisclosed seller in the transaction. The trio also procured the buyer, Paramount Realty Services.
FAIRLESS HILLS, PA. — A partnership between Pennsylvania-based Endurance Real Estate Group and Texas-based Thackeray Partners has sold Penn Logistics at Bucks, a 240,358-square-foot industrial complex in Fairless Hills, located in between Philadelphia and Trenton. The sales price was $18 million. The four-building property was built between 1968 and 1970 and features 24-foot clear heights, 42 dock doors and proximity to Interstates 295 and 95. Michael Hines, Brad Ruppel, Brian Fiumara and Lauren Dawicki of CBRE represented the seller and procured the undisclosed buyer in the transaction.