Philadelphia
Skanska Appoints new SVP in PA Office
In his new role, Todd Lofgren will oversee the account management team, train new employees and develop the office’s regional strategy.
Meridian Arranges $54M for New Pod Hotel
Clients Modus Hotels and Parkway Corp. will utilize the financing to develop Pod Philadelphia, an 11-story, 252-key micro-hotel.
Philly Sheraton Lands New Owner, Planned Makeover
The Buccini/Pollin Group acquired the 364-key property in the Old City district for almost $100 million. The Delaware-based company is set to renovate and rebrand the hotel.
Somerset Properties Sells Office Portfolio in NJ
The 304,732-square-foot portfolio was 94 percent occupied at the time of sale. The office buildings are all located within minutes of major thoroughfares.
Office Tower Trades for $32M in Philly’s CBD
The asset’s location, coupled with its size resulted in a competitive bid process, with multiple interested parties competing to nab the 15-story office tower.
Liberty Property Trust Sells Suburban PA Office Portfolio
The company sold the assets in two separate transactions totaling about 780,000 square feet. The properties are located in Wayne, King of Prussia and Malvern.
1788 Holdings Acquires PA Industrial Asset
Riverside Business Center in Whitehall comprises 423,900 square feet and was 87 percent leased to 11 tenants at the time of sale.
US Storage Centers Expands in PA
The firm has added Philly Self Storage, a 1,545-unit storage facility, to its portfolio. SVN Commercial Property brokered the sale of the property.
Marcus & Millichap Facilitates Sale of 2 FedEx Centers
The industrial assets are located in Atlanta and Marcus Hook, Pa., and changed hands for $32.3 million and $15.4 million respectively.
Las Vegas Sands to Sell Philly-Area Casino for $1.3B
Wind Creek Hospitality, an affiliate of the Poarch Band of Creek Indians of Alabama, will acquire the property in Bethlehem, Pa. The transaction is scheduled to close by year’s end or in early 2019.