Commercial Real Estate
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Historic Trumbauer-Designed Mansion Near Rittenhouse Square Hits the Auction Block
A rare slice of Gilded Age Philadelphia is about to change hands, and possibly its purpose entirely. The Edward C. Knight Mansion, tucked just off Rittenhouse Square at 1629 Locust St., is heading to auction this month, Ryan Mulligan writes for the Philadelphia Business Journal. Designed by Horace Trumbauer — the architect behind some of…
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From Dead Mall to Town Center: The Plan to Reimagine Neshaminy Mall in Bensalem
For generations of Bucks County residents, Neshaminy Mall was more than a shopping center. It was where people saw movies, wandered the food court, bought back-to-school clothes, and spent Friday nights during the height of the suburban mall era. Now, the future of the Bensalem property appears headed in a much different direction. In July…
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Why Markets Like King of Prussia Are Winning: A CEO’s Guide to Location Strategy
CEOs today are navigating a moment defined by competing pressures – remote work, hybrid expectations and a narrow talent market. Many are sitting on large footprints of underutilized office space – an issue playing out across the country – while simultaneously trying to position themselves near the workforce they need to stay competitive. Today’s leaders…
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A Former Wawa in Levittown is Up for Sale. But There Are Some Conditions
An old Wawa location owned by Millville Manufacturing Co. in Levittown is currently up for sale, writes Chris Ullery for Bucks County Courier Times. There is, however, a catch for anyone who wishes to purchase the property. According to The Philadelphia Inquirer, the building appeared alongside six other Wawas in an offering memorandum last month.…
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Bucks County Towns Scramble to Regulate Data Centers as Resident Opposition Grows
Bucks County is caught in the middle of one of the most consequential infrastructure battles of the digital age, and residents aren’t staying quiet about it, writes a staff writer for The Keystone. Proposed data centers are multiplying across the county, drawing scrutiny from neighborhoods and township halls alike. The facilities, which are massive warehouses…
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North Philadelphia’s Long-Vacant Budd Plant Could Be Transformed Under New Rezoning Plan
A massive, long-dormant industrial complex in North Philadelphia may finally be getting a second life, and the vision for it is an ambitious one. City Councilmember Curtis Jones Jr. has introduced legislation to rezone the former Budd Company plant in the Nicetown-Tioga neighborhood, opening the door to residential, mixed-use, and commercial development alongside life sciences…
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Historic Boyd Theatre Marquee At Risk As Owner Seeks to Modernize Philadelphia Landmark
The Boyd Theatre has survived closure, a preservation battle, and the demolition of most of its auditorium, but now its iconic marquee may be next to go. Pearl Properties, which owns Philadelphia’s last great downtown movie palace, wants to remove the theater-style marquee and modernize the recessed storefront, writes Jake Blumgart for The Philadelphia Inquirer.…
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Chubb’s New $380 Million Center City Office Tower Is Redefining the Future of Office Work
Chubb’s new 348,000-square-foot tower at 2000 Arch Street represents more than just a new headquarters, but rather offers a glimpse into the future of Philadelphia’s office market and Center City development, writes Paul Schwedelson for the Philadelphia Business Journal. The 18-story, LEED Platinum-certified tower is part of a roughly $380 million investment that will bring…
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Tastykake’s Navy Yard Headquarters Sold to Salt Lake City-Based Investment Firm in $87M Deal
Tastykake’s headquarters at the Philadelphia Navy Yard has been sold to Salt Lake City-based Bridge Investment Group, writes Paul Schwedelson for the Philadelphia Business Journal. Prologis, the logistics real estate firm that had owned the 345,500-square-foot property since 2020 after a merger with Liberty Property Trust, sold the building in a $87 million deal. The…
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One of Lansdale’s Busiest Retail Corners Just Hit the Market
One of Lansdale’s most recognizable shopping destinations is on the market, with a price tag of around $55 million, writes Paul Schwedelson for The Philadelphia Business Journal. Water Tower Square, a fully occupied 269,000-square-foot retail center on Horsham Road, has been listed for sale. Blue Bell-based Goldenberg Group developed the property and has owned it…
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How Fort Washington’s Toll Brothers Is Thriving in a Tough Housing Market
Fort Washington’s Toll Brothers found the sweet spot in a tough housing market, writes Ryan Mulligan for The Philadelphia Business Journal. As new home sales slow nationally, major homebuilders are pivoting toward active adult communities. Toll Brothers is leading the charge through its Regency brand. Regency communities are built around lifestyle. Clubhouses, pickleball courts, fitness…
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Franklin Mall in Northeast Philadelphia to Be Redeveloped Into Youth Sports Complex, Water Park, and Housing
Months after being placed on the market, Franklin Mall in Northeast Philadelphia will soon be acquired, writes Paul Schwedelson for the Philadelphia Business Journal. Dean Adler, the high-profile real estate developer is currently under contract to acquire the sprawling mall property and is planning a major transformation project for it. More specifically, Adler plans to…
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274-Unit Luxury Apartment Community AVE Horsham Breaking Ground on Former Call Center Site
After years of planning, a major luxury apartment project is finally moving forward in Horsham Township, writes Paul Schwedelson for The Philadelphia Business Journal. Developers are breaking ground on AVE Horsham. The 274-unit apartment community is planned for the former Telerx call center site at 723 Dresher Road. The project is being developed through a…
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Commercial Use Plan for Bristol’s Old FDR Middle School Site Delayed
The sale of the former Franklin D. Roosevelt Middle School in Bristol to Crystal Window & Door Systems has been delayed until early 2027, writes Lacey Latch for the Bucks County Courier Times. The 31.7-acre property sale to the New York-based window manufacturer is now anticipated to close on March 31, 2027. According to school board solicitor David Truelove, the extension…
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Medical Office Building in Warrington Changes Hands in $17.25M Deal
Stone Manor Medical Office Building in Warrington has been acquired by Cornerstone Cos., a healthcare real estate development and investment firm based in Indianapolis, for $17.25 million, writes John George for the Philadelphia Business Journal. Built in 2007 as part of the Stone Manor Corporate Center, the 62,750-square-foot building recorded 93 percent occupancy at the…
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Sale of Flats at Lansdale Tops Regional Averages, Signals Strong Demand
A major apartment complex in Lansdale has changed hands, underscoring the strength of Montgomery County’s rental market, writes Paul Schwedelson for The Philadelphia Business Journal. New York-based DRA Advisors has acquired Flats at Lansdale, a 180-unit community located along Towamencin Avenue, for $58 million. The purchase marks the firm’s first multifamily investment in Pennsylvania. The…
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Perkasie’s Final Undeveloped Land May Become Home to Recycling Center
After borough leaders and residents pushed back against plans for luxury apartments, the final undeveloped tract of land in Perkasie may instead be developed as a recycling center, writes Lacey Latch for the Bucks County Courier Times. On Feb. 25, Perkasie Place submitted a sketch plan to the borough planning commission seeking initial feedback on…
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Bucks County 150,000-Square-Foot Shopping Center Listed for Sale
Yardley’s Prickett Preserve shopping center, anchored by Wegmans, has been put on the market, writes Paul Schwedelson for the Philadelphia Business Journal. According to JLL’s listing, the shopping center spans nearly 150,000 square feet and was completed two years ago, and is 98 percent occupied. Wayne’s Envision Land Use and Langhorne’s DeLuca Homes collaborated to develop the shopping center. While they initially…
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