In the latest of a flurry of transactions in Philadelphia's CBD, PMC Property Group has acquired a seven-acre development site along John F. Kennedy Boulevard in Center City from Garrison Investment Group for $28.5 million.
The sale includes five contiguous land parcels located at 2301, 2201, 2101 and 2001 John F. Kennedy Blvd., and 60 N. 23rd St. between 20th Street and the Schuylkill River. Collectively, the parcels have been known as the River City site.
PMC Property Group is one of the city's largest residential developers.
Garrison Investment Group, a New York City-based investment and asset management firm was the buyer.
Parcels located near the growing Market Street West and University City submarkets offer "incredible potential to develop large scale development along the Schuykill River and JFK Blvd." as demand pushes activity west in the Philadelphia CBD.
The parcels are located a few blocks from Comcast Center and across the Schuylkill River near Amtrak’s 30th Street Station and the city’s largest universities, the University of Pennsylvania and Drexel University.
The land parcels are located at 60 N. 23rd St., 2301, 2201, 2101 and 2001 JFK Blvd, with 60 N. 23rd St. being the last large development site left in the Philadelphia CBD. The sites are located only a few blocks from the Comcast Center and across the Schuylkill River, near Amtrak’s 30th Street Station and the City’s largest universities: The University of Pennsylvania and Drexel University.
www.omegare.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.