Thursday, March 6, 2014
Posh Properties Pays $6.7M for Bethlehem Office
Joseph T. Posh Properties acquired the office building at 60 W. Broad St. in Bethlehem, PA from Dunn Twiggar Company LLC and Werntz 60 W Broad LLC for $6.7 million, or about $130 per square foot.
The four-story, 51,383-square-foot office building was constructed in 1982 in Northampton County. The asset was 94 percent occupied at the time of sale.
www.omegare.com
The four-story, 51,383-square-foot office building was constructed in 1982 in Northampton County. The asset was 94 percent occupied at the time of sale.
www.omegare.com
Wednesday, March 5, 2014
Recent Commercial Real Estate Deals
CDW signed a new lease for 31,121 square feet at Three Executive Campus in Cherry Hill. The information technology company will move from Four Echelon Plaza in Voorhees, N.J., in June. The new space at Three Executive will allow CDW to operate on a contiguous floor. The 430,995-square-foot building had been 58 percent occupied in 2011. The lease with CDW brings it to more than 80 percent leased.
IOP Publishing leased 6,300 square feet of the American College of Physicians building at 190 N. Independence Mall in Philadelphia. The company, which publishes physics-related texts and periodicals, is moving from 4,500 square feet at the Public Ledger Building. The company is based in Great Britain and its new space will serve as its North American headquarters.
EPAM Systems leased 6,100 square feet at 117-25 N. 8th St. The landlord is Archworks Philadelphia.
Full story: http://tinyurl.com/nwexnlb
www.omegare.com
Tuesday, March 4, 2014
Endurance RE Grp Acquires Former Signature Furniture Bldg for $26M
Endurance Real Estate Group LLC has acquired the former Signature Furniture industrial building at 325 S. Salem Church Rd. in York, PA for $26 million, or about $42 per square foot, from an affiliate of national shopping center investor Schottenstein Property Group.
The 624,800-square-foot distribution center was built in 2007 on 49.5 acres in the York County Industrial submarket, just off Route 30 in close proximity to I-83. It features 8-inch floors, EPDM rubber roof, 50x40-foot column spacing, 42-foot clear heights, wet sprinkler, 4,000-amp heavy power, 42 loading docks and one drive-in, and fenced parking for 280 trailers.
www.omegare.com
The 624,800-square-foot distribution center was built in 2007 on 49.5 acres in the York County Industrial submarket, just off Route 30 in close proximity to I-83. It features 8-inch floors, EPDM rubber roof, 50x40-foot column spacing, 42-foot clear heights, wet sprinkler, 4,000-amp heavy power, 42 loading docks and one drive-in, and fenced parking for 280 trailers.
www.omegare.com
Monday, March 3, 2014
Top Five Philadelphia Office Leases Signed in Q4 2013
The select top office lease signed during the fourth quarter of 2013 in the Philadelphia market was at 1801 Augustine Cut-Off in the North New Castle County submarket. Capano Management represented the landlord in a 190,823-square-foot office deal signed there.
Exeter Property Group represented the landlord in a 70,110-square-foot office lease signed in the Conshohocken Ridge Corporate Center in the Conshohocken submarket.
CSC renewed its 36,616-square-foot lease at 8000 Lincoln Dr. E in the South Burlington County submarket. Tequesta Properties, Inc. represented the landlord.
The District 1199C Training & Upgrading Fund renewed its lease for 31,307 square feet at the Land Title Bldg in the Market Street West submarket.
In the third quarter, Pepper Hamilton LLP renewed its 230,560-square-foot lease at Two Logan Square in the Market Street West submarket. Brandywine Realty Trust represented the landlord.
This trend is compared to the U.S. National Office select largest new lease signings occurring in Q4 2013, which include the 515,457-square-foot deal signed by GroupM Worldwide at 3 World Trade Center in the New York City market; CME Group, Inc.'s 449,000-square-foot office lease at the World Finance Center - NYMEX building; Valean Pharmaceuticals International, Inc. taking 310,000 square feet in the Northern New Jersey market; Cogo, Inc.'s lease of 234,484 square feet and Zebra Technologies Corp. leasing 233,286 square feet, both in the Chicago market.
www.omegare.com
Exeter Property Group represented the landlord in a 70,110-square-foot office lease signed in the Conshohocken Ridge Corporate Center in the Conshohocken submarket.
CSC renewed its 36,616-square-foot lease at 8000 Lincoln Dr. E in the South Burlington County submarket. Tequesta Properties, Inc. represented the landlord.
The District 1199C Training & Upgrading Fund renewed its lease for 31,307 square feet at the Land Title Bldg in the Market Street West submarket.
In the third quarter, Pepper Hamilton LLP renewed its 230,560-square-foot lease at Two Logan Square in the Market Street West submarket. Brandywine Realty Trust represented the landlord.
This trend is compared to the U.S. National Office select largest new lease signings occurring in Q4 2013, which include the 515,457-square-foot deal signed by GroupM Worldwide at 3 World Trade Center in the New York City market; CME Group, Inc.'s 449,000-square-foot office lease at the World Finance Center - NYMEX building; Valean Pharmaceuticals International, Inc. taking 310,000 square feet in the Northern New Jersey market; Cogo, Inc.'s lease of 234,484 square feet and Zebra Technologies Corp. leasing 233,286 square feet, both in the Chicago market.
www.omegare.com
Subscribe to:
Posts (Atom)
