WEST CHESTER, PA. — Tower Health Urgent Care will open a 4,200-square-foot clinic at Bradford Plaza, a 161,000-square-foot retail center located at 700 Downington Pike in West Chester. The grocery-anchored center houses tenants such as Petco, Dollar Tree and Orangetheory Fitness. Sidney Singer of New Jersey-based Levin Management Corp. represented the landlord in the lease negotiations. Michael Reese of Jackson Cross Partners represented the tenant.
MUNCY, PA. — NAI Mertz has brokered the sale of two industrial buildings totaling 425,800 square feet that front Interstate 80 in the central Pennsylvania city of Muncy. The Class A distribution centers total 235,000 and 190,800 square feet and are leased to e-commerce users. Howard Fertman, Chris Matus, Steve Cole and Dave Weaver of NAI Mertz represented the seller, S. Balolia Holdings LLC, in the transaction. EuroOptic LLC, an e-commerce provider of firearms, purchased the larger of the two buildings, and Patton Warehousing purchased the smaller one.
TEMPLE, PA. — Marcus & Millichap has arranged the $11.5 million sale of a 21,850-square-foot retail center in the eastern Pennsylvania city of Temple. The newly built property is situated on 3.2 acres and houses tenants such as Chick-fil-A, Panera Bread, Mod Pizza and Visions Credit Union. Derrick Dougherty and Mark Krantz of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer, a 1031 exchange investor.
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.