Pennsylvania

CBRE Arranges Sale-Leaseback of 300,000 SF Industrial Facility in Pennsburg

by David Cohen May 25, 2018

PENNSBURG, PA. — CBRE has arranged the sale-leaseback of a 291,203-square-foot industrial building located at 2452 Quakertown Road in Pennsburg. The building, which is net leased through 2028, was acquired by One Liberty Properties. Michael Hines, Brian Fiumara, Brad Ruppel and Lauren Dawicki of CBRE represented the seller, RAF Industries, in the transaction. The warehouse and distribution facility was completed and expanded between 1986 and 1994 and has served as the headquarters for both Campania International and U.S. Tape, portfolio companies of RAF Industries since 2006.

May 25, 2018

Acquisitions Mixed-Use Northeast Pennsylvania

Colliers Brokers $3.3M Sale of Mixed-Use Building in Philadelphia

by David Cohen May 23, 2018

PHILADELPHIA — Colliers International has brokered the $3.3 million sale of 1026 Arch St. in the Chinatown neighborhood of Philadelphia. The three-story, 9,000-square-foot building currently houses ground-floor retail and second-floor office space. Colliers represented the seller, Alfred and Nancy Cappelli, in the transaction. A private investor purchased the building.

May 23, 2018

Acquisitions Northeast Pennsylvania

Marcus & Millichap Brokers $4.2M Sale of Retail Strip Center in Harrisburg

by David Cohen May 22, 2018

HARRISBURG, PA. — Marcus & Millichap has brokered the $4.2 million sale of Paxton Street Commons, a 10,664-square-foot retail strip in Harrisburg. The five-tenant center located at 3462 Paxton St. was 100 percent occupied at the time of sale. Tenants include Starbucks, FedEx, Hertz, Cycle Gear and Qdoba. Craig Dunkle of Marcus & Millichap represented the New York-based buyer in the transaction. The seller was undisclosed. Matthew Rosenberg of Marcus & Millichap also arranged $3.5 million in financing for the buyer through an undisclosed lender.

May 22, 2018

Acquisitions Northeast Pennsylvania Retail

HFF Arranges $55.2M Sale of Retail Center in Lehigh Valley

by David Cohen May 21, 2018

ALLENTOWN, PA. — HFF has arranged the $55.2 million sale of MacArthur Commons, a 371,886-square-foot, grocery-anchored retail center located at 2631 MacArthur Road in Lehigh Valley. HFF represented the seller, an affiliate of Abrams Realty & Development, in the transaction. HFF also arranged $50.4 million in acquisition financing for the undisclosed buyer. The buyer was able to obtain long-term lease extensions with the anchor tenants. Current tenants at the 47-acre center include GIANT Food Stores, Dick’s Sporting Goods, Big Lots and T.J.Maxx.

May 21, 2018

Acquisitions Multifamily Northeast Pennsylvania

Marcus & Millichap Brokers Sale of 15-Unit Apartment Portfolio in Fishtown

by David Cohen May 16, 2018

PHILADELPHIA — Marcus & Millichap has brokered the $1.5 million sale of a 15-unit apartment portfolio in the Fishtown neighborhood of Philadelphia. The sales price equates to approximately $100,000 per unit. The portfolio is located at 1417-1419 E. Columbia Ave. and 1243 E. Susquehanna Ave. Andrew Townsend, Clarke Talone, Joseph Sutow and Ridge MacLaren of Marcus & Millichap represented the undisclosed seller in the transaction, which had owned the properties for more than a decade. The buyer was a private real estate investment group and was also represented by Marcus & Millichap.

May 16, 2018

Acquisitions Northeast Pennsylvania

Marcus & Millichap Negotiates $15.7M Sale of Apartment Building in Philadelphia

by David Cohen May 14, 2018

PHILADELPHIA — Marcus & Millichap has negotiated the $15.7 million sale of a 74-unit apartment building at 1217 Spring Garden St. in Philadelphia. The property also includes two retail spaces. Phil Sharrow and Jon Massaro of Marcus and Millichap represented the buyer, Arts & Crafts Holdings, in the transaction. The seller was Juniata Design Inc. The building is located in the Spring Arts neighborhood. The buyer plans to revitalize the nearby abandoned railway into a public park, similar to The High Line, a 1.45-mile long elevated linear park, greenway and rail trail in New York City. The first phase of the park in Philadelphia runs from Callowhill Street to Broad Street and is scheduled for completion this year.

May 14, 2018

Acquisitions Northeast Office Pennsylvania

CBRE Brokers Sale of Office Building in Philadelphia’s Navy Yard for $130.5M

by David Cohen May 11, 2018

PHILADELPHIA — CBRE has brokered the $130.5M sale of Five Crescent Drive, a 207,779-square-foot office building in Philadelphia’s Navy Yard. An affiliate of Korea Investment Management Co. purchased the property. Robert Fahey, Jerry Kranzel, Erin Hannan and Jack Corcoran of CBRE represented the seller, Liberty Property Trust, in the transaction. Built in 2013, the four-story property is one of only a few office buildings in the United States to achieve LEED Double Platinum status. GlaxoSmithKline, a global leader in the life sciences industry, fully occupies the building on a long-term lease. The property is located in Philadelphia’s Navy Yard complex, a master-planned, 1,200-acre urban waterfront development on the Delaware River. The development currently serves as home to more than 13,000 employees and 152 companies in the life sciences, financial services, engineering, manufacturing and research and development sectors.

May 11, 2018

Development Northeast Office Pennsylvania

City Center Investment Opens Class A Office, Retail Tower in Allentown

by David Cohen May 9, 2018

ALLENTOWN, PA. — City Center Investment Corp. has opened Tower 6, a Class A office and retail building in downtown Allentown. Tower 6 is a 145,000-square-foot, 12-story, glass and steel building with floor-to-ceiling windows and is located at 600 Hamilton St. The building officially opened May 3. The building’s tenants include Bank of America Merrill Lynch, Avantor, Talen Energy, CrossAmerica Partners, NJR Energy Services, fedRFP and Morton Brown Family Wealth. The top of Tower 6 features Merrill Lynch signage. City Center Investment Corp. partnered with a number of Lehigh Valley companies to design and construct Tower 6, including Spillman Farmer Architects, RETTEW Engineering, Serfass Construction, DesignPoint, Offix Systems, Lutron, K&H Window Treatments, ESG Systems and CFI, a Knoll furniture dealer.

May 9, 2018

Acquisitions Multifamily Northeast Pennsylvania

Marcus & Millichap Brokers $10.6M Sale of Apartment Complex in Suburban Philadelphia

by David Cohen May 9, 2018

CHALFONT, PA. — Marcus & Millichap has brokered the sale of Grey Friars at Chalfont, a 78-unit apartment complex in Chalfont, about 30 miles north of Philadelphia. The property, which is located at 4106 Grey Friars Terrace, sold for $10.6 million. The buyer and seller were undisclosed. The garden-style apartment complex is comprised of eight two-story buildings set on nearly nine acres and includes 26 one-bedroom and 52 two-bedroom units.

May 9, 2018

Acquisitions Connecticut Northeast Pennsylvania Retail

Wilder Acquires Two Shopping Centers in Pennsylvania and Connecticut Totaling 800,000 SF

by David Cohen May 7, 2018

MECHANICSBURG, PA., NEW HAVEN, CONN. — Wilder Cos., in partnership with an institutional retail real estate fund, has acquired Silver Spring Square in Mechanicsburg and the Marketplace at Hamden in New Haven. The sales prices in the separate transactions were not disclosed. Together, the two shopping centers total 800,000 square feet of space. The 570,000-square-foot Silver Spring Square is home to the only Wegmans in the Harrisburg trade area and is shadow anchored by a Target and Kohl’s. The Marketplace at Hamden, which was purchased in partnership with Silver Peak Real Estate Partners, features 235,000 square feet of retail space. Current tenants include T.J. Maxx, Staples, Old Navy, Petco, Pier One Imports, and TGI Fridays.

May 7, 2018

Newer Posts

Older Posts