Sunday, December 25, 2011

The top 10 Philadelphia real estate stories of 2011

by Natalie Kostelni

"It’s that time of year to take a look back at some of the biggest real estate stories that happened throughout the region. I’d like to hear from you to see what you think are some of the top stories or take issue with the ones I selected. Please feel free to email them to me at

Here’s my top 10:

• GlaxoSmithKline moving its Philadelphia operations to the Navy Yard.

• Liberty Property Trust Latest affiliate buying the surface parking lot at 18th and Arch streets where the American Commerce Center had been proposed.

• GlaxoSmithKline getting major property reassessments of its Lower Merion and Collegeville facilities. In Upper Merion, the school district, township and county settled the case for $6 million and in Collegeville it was $6.5 million, record amounts.

• The rise in new multifamily construction throughout the region.

• Endo Pharmaceuticals moving its headquarters to Atwater and Shire Pharmaceuticals looking at its options for a possible new home.

• Four Falls in receivership.

• CHOP makes some decisions on its real estate needs. It adds space at Wanamaker and finally decides to build its suburban campus on the old golf course site in King of Prussia, which is still in negotiations.

• Two Penn Center comes on the market, the first downtown office building to do so since 2007.

•Brandywine Realty Trust buys 1919 Market St. in Philadelphia.

•The owner of the Inquirer and Daily News takes $1 million from the state and nearly $3 million in subsidies from the city to help it move to the former Strawbridge & Clothier building on East Market Street."

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