Philadelphia
CommonGrounds Makes 1st Philadelphia Foray
The flexible office startup inked a 62,461-square-foot lease across two floors in a Center City office tower, as part of a nationwide growth spree. Shorenstein Properties owns the building.
Extra Space Storage Breaks Ground in NJ
Homestake Capital and Harvestate Group have started construction on a 595-unit self storage asset in Winslow, N.J. The facility is scheduled for completion by early 2020.
Liberty Property Trust Sells Philly Office Asset for $99M
The University of Pennsylvania’s health system, the property’s sole tenant, bought the Center City tower in a reportedly record-breaking deal.
Ventas Reveals $800M in Projects for Research & Innovation Business
The four university-related developments, totaling 1.3 million square feet in Pittsburgh, Philadelphia and St. Louis, are part of a $1.5 billion construction pipeline with Wexford Science & Technology.
PA Self Storage Asset Trades for $13M
Cushman & Wakefield represented the seller, Vertical Fields, in the disposition of an 82,116-square-foot asset in Clifton Heights. CubeSmart was tapped to manage the facility.
Discovery Labs Plans $500M Philly-Area Coworking Campus
Newly established by MLP Ventures, the platform company will redevelop two campuses in King of Prussia into a 1.6 million-square-foot ecosystem for health-care, life sciences and technology-enabled businesses.
Opportunity Zones Can Make a Great Deal Greater
At a recent event organized by Mazars, Dean Adler explained how his team aims to turn a closed power plant in Philadelphia into a 1 million-square-foot, mixed-use destination—with a little help from the IRS.
CBRE Adds New EVP in Pennsylvania
Ken Bleznak brings more than 30 years of experience in the retail sector to this role, having previously served as president of Atlantic Real Estate Group.
MRP Realty Recapitalizes Downtown Philadelphia Portfolio
The company has partnered with Goldman Sachs to refinance a collection of three office buildings and a large parking garage.
Endurance Real Estate Group Adds New VP
Guy Wolfington brings more than 20 years of commercial real estate experience to this role. He previously served as MLVP Ventures’ director of regional development.