Monday, December 29, 2014

Biggest Commercial Real Estate News in Philly 2014

The Philadelphia commercial real estate market continued to experience dynamic changes in 2014, from the biggest deals, to the latest developments and market trends.

Here are the stories that you, our readers, considered to be the most interesting and newsworthy in the Philadelphia market over the past 12 months.

1. Forest City Divests Philadelphia Shopping Center for $92.3M
Cedar Realty Trust Acquires 456,000-SF Quartermaster Plaza

     Forest City Enterprises, Inc. (NYSE: FCEA, FCEB) has sold the Quartermaster Plaza retail power center at 2200-2370 W. Oregon Ave. in Philadelphia, PA to Cedar Realty Trust, Inc. (NYSE: CDR) for $92.3 million, or about $202 per square foot.

2. Atlantic City May Need to Find Another Way to Make Money
New Jersey Shore Market Faces Its Fourth Casino Closure This Year

3. Comcast to Build $1.2B Skyscraper in Philadelphia
Massive Project Would Reunite Media Giant With Comcast Center Developer Liberty Property Trust

4. Liberty Closes Second Half of $697.3M Disposition
Greenfield JV Acquires 2.6M SF, 19 Acres for $329.6M

5. Bellevue Park Corp Ctr Bldgs Sold for $61.5M
BPG Real Estate Acquires 306,000 SF in Wilmington

6. Keystone, Mack-Cali Team Up to Buy Philadelphia's Curtis Center for $125M
Walnut Street, Apollo Global Mgmt Sell 886,000-SF Office Bldg

7. Brandywine Completes $248.9M Acquisition in Philadelphia
Parkway Properties Sells Ownership Stake Following Thomas Properties Merger

8. Host Hotels Sells 89% Stake in Ownership of Philadelphia Marriott Downtown for $270M
Oaktree, Clearview JV Take Control of 1,400 Rooms on Market Street

9. KBS Closes on $63M Acquisition of 1000 Continental
Equus Capital Sells 205,000 SF in King of Prussia

10. KBS REIT II Sells I-81 Industrial Portfolio for $105.7M
1.6M SF Trades Hands in Eastern PA

11. COPT Signs PRA Int'l to 150,000 SF in Blue Bell
Tenant Takes Some Space Now, Preleases Under-Development Bldg at Arborcrest Park

12. Philadelphia's Edgewater Apts Sell for $113M
JP Morgan Chase & Co Take 290 Units on Race Street

13. Horsham Seeks Master Developer For Willow Grove Base Redevelopment
Former Base North of Philadelphia Expected to Generate Nearly $1B In Construction Investment

14. Sunoco Pays $23.5M for Redevelopment Project in Newtown Square
Company to Relocate from City Center

15. Brandywine, LCOR Team Up For Center City High-Rise

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