PHILADELPHIA AND EWING, NEW JERSEY — Dallas-based fast casual restaurant Wingstop has signed retail leases in Philadelphia and Ewing, New Jersey. Wingstop will open a 1,650-square-foot store in Philadelphia’s Morrell Plaza, a 103,251-square-foot retail center with tenants including ShopRite and T-Mobile. The company will also open a 2,200-square-foot store in Ewing, New Jersey’s Capitol Plaza, a 354,993-square-foot shopping center with tenants including Marshalls, Dollar Tree and Planet Fitness. David Dunkelman of Soloff Realty & Development Inc. represented Wingstop in the Philadelphia negotiations, and Sidney Singer of Levin Management Corp. (LMC) represented the landlord. Marta Villa of JLL represented Wingstop in the Ewing negotiations , and Andrea Kyriacou of LMC represented the landlord.
PHILADELPHIA — U-Haul will open a 251,643-square-foot retail and self-storage facility in the Kensington neighborhood of Philadelphia. The facility will offer truck and trailer rental, moving supplies and climate-controlled self-storage space. On Oct. 18, Philadelphia-based general contractor Domus Construction will begin construction of the facility, which is slated for completion in December 2020. JKRP Architects designed the project.
PHILADELPHIA — Cedar Realty Trust is underway on construction of Fishtown Crossing, a retail redevelopment project in the Olde Richmond neighborhood of Philadelphia. The project will convert a shopping center formerly known as Port Richmond Village into an 18,000-square-foot neighborhood center. The property currently houses more than 20 tenants, including grocer IGA, vitamin and supplement retailer GNC and footwear retailer Kicks USA, while tenants that have preleased space at the new center will include Starbucks and ‘50s-themed diner Nifty Fifty’s. Construction of Fishtown Crossing is slated for completion by early 2021.
WILKES-BARRE, PA. — NAI Mertz has brokered the $4.2 million sale of a 225,000-square-foot industrial property in Wilkes-Barre, located approximately 120 miles west of New York City. The buyer, pipe distribution company PSI, plans to renovate the property to the tune of $9 million and add a new pipe mill. David Weaver and Stephen Cole of NAI Mertz represented the seller, Medley Investments, in the transaction. Elijah Miller of Hinerfeld Commercial Real Estate represented PSI.
MONTGOMERYVILLE, PA. — An affiliate of raw materials distributor Panadyne Inc. has acquired an industrial center in Montgomeryville, a northern suburb of Philadelphia. Panadyne will occupy approximately 50 percent of the 22,000-square-foot facility, which features 17-foot ceiling heights and 1,500 square feet of office space. Frank Roddy of Roddy Inc. represented Panadyne in the transaction.
PHILADELPHIA — NAI Mertz has negotiated an 11,250-square-foot industrial lease in Philadelphia. The tenant, Rodan Enterprises LLC, will use the facility to house its company, SureShade, a designer and manufacturer of innovative marine sunshade systems. The space is located within a 75,000-square foot industrial building with 25-foot ceiling heights, one drive-in door and one tailgate door. Joe Sternberg of NAI Mertz represented the landlord, Onyx Partners, in the lease negotiations.
UPPER MACUNGIE, PA. — UL Verification Services, a global safety science firm, has renewed a 38,510-square-foot industrial lease in Upper Macungie, located approximately 55 miles northwest of Philadelphia. The space is situated within a 96,235-square-foot industrial building at 7036 Snowdrift Road. that is part of the Iron Run Business Campus. The property offers immediate access to I-78 and the Pennsylvania Turnpike. Jody King of CBRE represented UL Verification Services in the lease negotiations. Sean Bleiler of CBRE represented the landlord, Denholtz Properties.
BRIDGEVILLE, PA. — Resort Lifestyle Communities has opened Chartiers Bend Retirement Resort, a 128-unit independent living community in Bridgeville, a southwestern suburb of Pittsburgh. The community offer studios, one-, two- and three-bedroom units for residents aged 55 and over. Amenities include an on-site bank, a 150-seat theater and salon. Resort Lifestyle Communities is the developer and operator of the property.
WILKES-BARRE, PA. — Senior Living Investment Brokerage (SLIB) has brokered the sale of Little Flower Manor and St. Luke’s Villa, both in Wilkes-Barre, which is located approximately 100 miles north of Philadelphia. Little Flower Manor is a 133-bed skilled nursing facility with an attached 60-unit personal care building called St. Therese Residence. One mile away is St. Luke’s Villa, a 50-bed skilled nursing, 48-unit personal care, and 31-unit independent living community. The Diocese of Scranton sold the properties to a local nonprofit buyer for an undisclosed price. Toby Siefert and Ryan Saul of SLIB handled the transaction.
ABINGTON, PA. — HJ Sims has arranged $61.6 million in financing for an expansion project at Rydal Park, a continuing care retirement community in Abington, located approximately 10 miles north of Philadelphia. The expanded property will be rebranded as Rydal Waters, and will sit on 33 acres and comprise 84 two-bedroom cottages. The project also includes a clubhouse, and the location is walking distance to restaurants, a grocery store and a rail station. The financing for the expansion is a draw-down, bank-held, tax-exempt loan with three years of interest-only payments and a 30-year amortization schedule. Presby’s Inspired Life, an affiliate of HumanGood, operates the community. The first phase of construction is scheduled for completion in 2020.