Philadelphia
Penn State Approves Multi-Million Dollar Renovation, Construction Plan for EEB Hub Complex at the Navy Yard
A $39 million renovation and construction plan for the Energy Efficient Buildings (EEB) Hub headquarters building complex at the Philadelphia Navy Yard was approved last week by Penn State’s Board of Trustees.
Bucks County Medical Building Achieves LEED Certification
The U.S. Green Building Council (USGBC) has awarded Leadership in Energy and Environmental Design (LEED) certification to a 12,000-square-foot medical office building owned by Lower Bucks Pediatrics, a family-oriented pediatric medical practice in Bucks County, Pa.
27-Story Apartment Tower Coming to University City
In fall 2013 work will start on a 27-story high-end apartment building located at the northwest corner of 36th and Market Streets in Philadelphia, replacing a parking lot owned by the University City Science Center. The project is backed by the Science Center – the first and largest urban research park in the United States – in a joint venture with Baltimore-based Wexford Equities and Southern Land Company of Franklin, TN, and stands as the first residential development in the Science Center’s 50-year history.
Drexel University Signs 185 KSF Lease in Philly
In downtown Philadelphia’s largest office expansion deal of 2012, Drexel University has graduated from 67,000 square feet to 186,000 square feet at Three Parkway.
Iroko Moves into New HQ Building at Philadelphia’s Navy Yard
Iroko Pharmaceuticals hosted a ribbon cutting ceremony, which was attended by Philadelphia Mayor Nutter, local officials and more than 150 attendees.. “Iroko represents a growing presence within Philadelphia and The Navy Yard’s business landscape, and provides critical economic momentum to the region by triggering job growth at an important time,” said Philadelphia Mayor Michael Nutter who attended the opening ceremony at the South Philadelphia site.
Suburban Philly, Oklahoma City Retail Assets Totaling 777 KSF Reel in $103M
Not all commercial real estate investors are in a San Francisco, Washington, D.C., or New York state of mind. Premier assets in non-premier locations like Deptford Landing in Deptford, N.J., and The Shops at Moore in Oklahoma City, Okla., have moved up higher on buyers’ radar.
Work Starts on $17 Million Affordable Housing for Seniors in Mt. Airy
Philadelphia-based real estate developer Nolen Properties broke ground last week on a new senior housing complex in the Mt. Airy neighborhood. The $17 million investment envisages a brick-and-terra cotta landmark building constructed in 1895 which will be upgraded and transformed into a 57-unit residential facility.
Candlebrook, Angelo Gordon Buy Suburban Philly M-F Asset for $83M
Candlebrook Properties and Angelo, Gordon & Co. have snapped up Echelon Glen, an 884-unit apartment complex in Voorhees, N.J., roughly 15 miles outside of Philadelphia.
Philly Developer Could Expand Ritz Five Movie Theatre, Add Apartments on Top
A Philadelphia developer is in the preliminary stages of a redevelopment project at the Ritz Five movie theatre located at 214 Walnut St. in the Society Hill neighborhood.
North Philadelphia Data Center Sells for $65 Million to Carter Validus
Tampa-based Carter Validus Mission Critical REIT, Inc. has purchased a data center located in the Byberry Industrial Park in the Greater North Philadelphia area.