Monday, July 24, 2017

Four Office Buildings in Delaware and Bucks County, PA for $6.8M

The sales of four office buildings in Delaware and Bucks County, Pennsylvania have traded. The four properties sold for a combined sale price of $6.875 million. The seller was Penguin Real Estate Investors. The properties are:
53 West Baltimore Pike, a three-story 35,902 square foot class A office building in Media, PA, acquired by 53 Baltimore Pike LLC;
430-450 Lincoln Highway (Route 1) in Fairless Hills, PA, acquired by Olymbec;
 2050 and 2080 Cabot Boulevard West in Langhorne, PA, also acquired by Olymbec. The three-property portfolio acquired by Olymbec marks the first time the Canadian-based firm has tapped into the Greater Philadelphia office market.

Morgan Properties has acquired Madison Montgomery

Morgan Properties, one of the country’s largest real estate investment and management companies, announced today it has acquired Madison Montgomery, a 264-unit apartment and townhome community located at 2701 Elroy Road in Hatfield, PA. The community was rebranded by Morgan Properties to Montgomery Manor Apartments & Townhomes. The property underwent a $17.5 million transformation by the previous owner in 2008, giving the property a class-A appearance. Morgan plans to enhance the current amenity offerings as well as capitalize on the opportunity to add additional amenities.

Real Estate is Booming in Philadelphia (Video)

Top 10 Issues Affecting Real Estate (Video)

Part 1 Part 2 Part 3

Thursday, July 20, 2017

U.S. real estate purchased by foreign buyers at record pace (Video)

Equinix CEO: Data Center REIT Domination (Video)

Target Leases 48,000 SF at Westmont Plaza

Target has signed a lease for 48,142 square feet in the Westmont Plaza shopping center at 630 - 662 W. Cuthbert Blvd. in Westmont, NJ.

The retail center totals 134,069 square feet in the North Camden County submarket of Philadelphia. Other tenants include Tuesday Morning and Super Fitness.