PHILADELPHIA, PA — CBRE announced the sale of Axalta’s Global Innovation Center located at 1050 Constitution Ave. in Philadelphia’s Navy Yard. Apex Capital Investments, a US based real estate investment management firm and a subsidiary of Kuwaiti-based Dimah Capital, acquired the asset for $61.2 million.
Robert Fahey, Jerry Kranzel, Erin Hannan and Jack Corcoran of CBRE Capital Markets’ Institutional Properties team marketed the property on behalf of the seller, Liberty Pro
PHILADELPHIA, PA — Urban Engineers announced that Jennifer Waters, PE, LEED AP, has been promoted to office manager of the firm’s Philadelphia headquarters. She has been with the firm for nearly 20 years and serves as an associate vice president and the deputy practice leader for environmental services.
“Jen is an outstanding professional who has quickly become a leader amongst her peers,” said Kenneth R. Fulmer, PE, president and CEO of Urban. “We are excited to elevate her
PHILADELPHIA, PA — Colliers International in Philadelphia announced that five members in our region encompassing Eastern Pennsylvania, Southern New Jersey and Delaware have earned a coveted spot among the top 10% of Colliers brokerage, valuation and corporate solutions professionals in the US based on revenue production. As a member of the Everest Club, Colliers honors their success as a top producer, and recognizes their dedication to service excellence and fostering client
PHILADELPHIA, PA — The ACE Mentor Program of Greater Philadelphia, the local affiliate hosted 350+ members and friends of the design and construction community Thursday, 20 February 2020 at the Simeone Foundation Automotive Museum for its Giant Jenga Tournament. The fourth annual event netted over $30,000 for the ACE Greater Philadelphia mentoring program and scholarships for current high school students and ACE alumni currently enrolled in higher education and focusing on an
PHILADELPHIA, PA — JLL Capital Markets has arranged financing totaling $142.6 million for The Hamilton, a core class A, two-phase, 576-unit high-rise apartment building in Center City, Philadelphia.
JLL worked on behalf of Radnor Property Group to secure a $70 million, floating-rate loan from Mack Real Estate Credit Strategies (MRECS) to retire the existing construction financing, which the JLL team arranged in 2017 for the first phase of the development. Additionally, JLL a
PHILADELPHIA, PA — Newmark Knight Frank (NKF) released its fourth-quarter 2019 office reports for the Philadelphia CBD and suburbs, Southern New Jersey, and Northern Delaware. Across the region, the office market concluded 2019 with robust positive absorption, continued rent growth, new construction, and the promise of more demand-driven development to kick off the new year.
In Philadelphia’s Central Business District (CBD), market activity was largely driven by the “eds & m
PHILADELPHIA, PA — The Blau & Berg Company recently brokered the sale of a portfolio of land in Philadelphia, PA from American Equity Partners, LLC to Ivy Equities II, LLC. Jason Crimmins, CCIM, SIOR, Peter Murano, SIOR, Alessandro Conte, CCIM, SIOR and Michael Schipper of The Blau & Berg Company represented the seller, while Scott Savastano of The Blau & Berg Company represented the buyer in this transaction.
The 118,509 s/f on 17.61 acres consisted of a 63,200 s/f facility
PHILADELPHIA, PA — Nutrition 215 will join the retail tenant roster at Morrell Plaza in Philadelphia. Commercial real estate services firm Levin Management Corporation (LMC) serves as managing agent for the 103,000 s/f shopping center located directly on Frankford Ave./Rte.13.
Nutrition 215 will sell blended nutritional non-alcoholic drinks including energy tea and protein-based coffee. The drinks are designed to give health-conscious consumers a variety of options, whether
PHILADELPHIA, PA — Manko, Gold, Katcher & Fox partners Jonathan H. Spergel and Bryan P. Franey presented on “Fundamentals & Hot Topics in Environmental Law for Real Estate Lawyers” at the Pennsylvania Bar Institute’s Real Estate Institute 2019 in Philadelphia on December 6. The program addressed the liability for contamination in Pennsylvania, the state’s Land Recycling Program (Act 2), changes to the Management of Fill Policy, as well as recent updates on emerging contaminan
PHILADELPHIA, PA — CBRE has completed the sale and financing of a nine-building medical office portfolio totaling 470,000 s/f located in four states.
Chris Bodnar, Lee Asher, Ryan Lindsley and Jordan Selbiger of CBRE’s Healthcare Capital Markets team served as advisors for the transaction and sourced the buyer for the portfolio sale. Additionally, Sabrina Solomiany of CBRE’s Debt & Structured Finance group worked on behalf of the buyer to secure the financing. The buyer, a c
PHILADELPHIA, PA — Moto Designshop, a contemporary architecture and design practice announced that Arrupe Hall Jesuit Community at Saint Joseph’s University has won the Silver Medal from the American Institute of Architects, Philadelphia Chapter. Silver is the highest award given for an unbuilt project.
“Our goal was to provide this religious community with not only a home, but a space that supports the serenity of their faith,” said Adam Montalbano, AIA, partner at Moto.
PHILADELPHIA, PA — As a new decade is ushered in, Carol F. McCabe takes over as managing partner of the environmental and energy law firm of Manko, Gold, Katcher & Fox, LLP (MGKF) located in suburban Philadelphia. McCabe is just the fifth person to take on this role and is the firm’s first female managing partner, succeeding Jonathan Spergel, Robb Fox, Bruce Katcher and Marc Gold. While this is a landmark for the firm, this has been 25 years in the making, dating back to when
PHILADELPHIA, PA — CBRE announced that Matthew Gorman, Michael Shover, Thomas Finnegan and Robert Thompson—the Philadelphia-based arm of CBRE’s Net-Lease Properties team— closed 62 properties in 2019, totaling more than $329 million, which is a 31% increase in dollar volume over 2018. The team is well-positioned to have another milestone year in 2020, with over 60 properties currently on the market and nine under contract, equaling nearly $240 million.
Completed 2019 transac
PHILADELPHIA, PA — Cedar Realty Trust, Inc. broke ground on Thursday, October 3rd at Fishtown Crossing, the redevelopment of a shopping center in Northeast Philadelphia formerly known as Port Richmond Village. The initiative will create 18,000 s/f of new retail space, designed for a diverse mix of fast-casual dining, restaurants and shopping. Fishtown Crossing will also feature a host of new amenity upgrades, creating new public spaces that will foster an inviting atmosphere
PHILADELPHIA, PA — DAS Architects, an award-winning hospitality, retail and residential design firm, is pleased to announce the completion of The Harper, a luxe wellness apartment experience with Pearl Properties.
The Harper is a 280,000 s/f, 24-story building, located at 112 S. 19th St., a block away from Rittenhouse Square and in the center of the Rittenhouse neighborhood’s dynamic shopping and restaurant scene. It features 167 unique residential units, a ground-floor res
PHILADELPHIA, PA — JLL announced the promotion of Rob Fogarasi in a series of recent strategic additions to the Project and Development Services Group (PDS). Fogarasi will take on the role of senior vice president and market lead of PDS in the greater Philadelphia market.
In this role, Fogarasi will execute overall PDS strategy, oversee project management services and create innovative marketing and development initiatives while leading a skilled team of project managers.
Company hires Zell to join its Multifamily Capital
PHILADELPHIA, PA — CBRE announced that Matthew Gorman, Michael Shover, Thomas Finnegan and Robert Thompson of the Philadelphia-based arm of CBRE’s Net-Lease Properties team sold 27 properties during the first half of 2019, totaling $104,430,491.
The completed transactions, most of which are classified as “net lease”, were a mix of restaurants, convenience stores/gas stations, discount stores, veterinary clinics, fitness centers and drug stores, spanning across twelve states,
PHILADELPHIA, PA — Rittenhouse Realty Advisors recently sold two garden-style apartment communities situated in two highly sought-after Suburban Philadelphia locations. Each property’s location affords tenants access to some of the top employers in Center City Philadelphia as well as Conshohocken, Doylestown, Fort Washington, King of Prussia and Valley Forge. Both properties feature excellent construction and desired unit mix while providing the new owners with value-add oppo
PHILADELPHIA, PA — Colliers International joined client Keystone Shops for the grand opening of its first Philadelphia medical marijuana dispensary this week at 300 Packer Ave. in South Philadelphia. This location will be the company’s third in the region, with additional sites located in Devon and King of Prussia.
The site is a creative reuse of a former bank branch – cannabis product is even stored in the bank’s former vault. Philadelphia has very few dispensaries due to
PHILADELPHIA, PA — Rubenstein Partners, L.P. (together with its affiliates, Rubenstein), a vertically-integrated real estate investment advisor focused on value-added office property opportunities, together with its partner Amerimar Enterprises Inc. (Amerimar), announced the completion of a 54,000 s/f lease expansion with Children’s Hospital of Philadelphia (CHOP) at The Wanamaker Office Building (Wanamaker). CHOP now leases over 300,000 s/f across 6 floors at Wanamaker follo