The 207,090-square-foot apartment community consists of one-, two-, and three- bedroom apartments across six buildings. It was built in 1972, and renovated in 2007, in the Route 22 Corridor submarket of Chester County.
Thursday, March 5, 2015
TGM Associates Sells Metro West Goshen for $36.5M
Metropolitan Management Corp. acquired the 198-Unit Metropolitan West Goshen multifamily complex at 812 Goshen Rd. in West Chester, PA from TGM Associates for $36.45 million, or approximately $184,000 per unit.
The 207,090-square-foot apartment community consists of one-, two-, and three- bedroom apartments across six buildings. It was built in 1972, and renovated in 2007, in the Route 22 Corridor submarket of Chester County.
www.omegare.com
The 207,090-square-foot apartment community consists of one-, two-, and three- bedroom apartments across six buildings. It was built in 1972, and renovated in 2007, in the Route 22 Corridor submarket of Chester County.
Wednesday, March 4, 2015
Exeter Property Group is proposing the warehouse in New Kingstown, PA
A plan for a 1.1 million square-foot warehouse has been put on hold Wednesday night as supervisors await a formal list of the developer's offerings as part of the deal, including dedication of land to the township and sizable monetary contributions to a New Kingstown volunteer group's efforts to beautify the neighborhood.
Supervisors and several residents, as well, continue to express concerns about traffic and noise and air pollution that the approximate 200 truck trips each day will bring to the area.
Exeter Property Group is proposing the warehouse at 40 Dauphin Drive in New Kingstown.
A plan for a 176,000-square-foot expansion at its neighboring warehouse was approved by supervisors last month.
Though the items to be warehoused and distributed at the new warehouse have not yet been revealed, project engineer Brian Evans said it will be dry, household items, and not any form of food or hazardous materials.
Supervisors questioned officials for the project on how truck idling rules will be enforced.
Evans said the facility will comply with all Department of Environmental Protection rules, and that they aren't "proposing anything that would be problematic."
In addition to trucks, the warehouse will also be serviced by the nearby railroad. Exeter plans to realign the railroad so only one spur enters both the new warehouse facility and the neighboring Fry Communications facility.
Exeter plans to contribute $150,000 in cash escrow to New Kingstown Vision's design and master plan for a beautification/streetscape project, and also to assist in efforts to minimize the speed limit through town to 25 miles per hour.
They also plan to rehabilitate Dauphin and Fry drives, both private roads, and provide additional street lights in the location.
Plans also include 37 acres of land south of the proposed warehouse and across the railroad tracks, where Exeter would install an approximate nine-acre stormwater detention basin.
The rest of the agricultural land, they said, would be offered to the township for its own use.
Supervisors discussed the possibility of renting the land to a local farmer.
www.omegare.com
Supervisors and several residents, as well, continue to express concerns about traffic and noise and air pollution that the approximate 200 truck trips each day will bring to the area.
Exeter Property Group is proposing the warehouse at 40 Dauphin Drive in New Kingstown.
A plan for a 176,000-square-foot expansion at its neighboring warehouse was approved by supervisors last month.
Though the items to be warehoused and distributed at the new warehouse have not yet been revealed, project engineer Brian Evans said it will be dry, household items, and not any form of food or hazardous materials.
Supervisors questioned officials for the project on how truck idling rules will be enforced.
Evans said the facility will comply with all Department of Environmental Protection rules, and that they aren't "proposing anything that would be problematic."
In addition to trucks, the warehouse will also be serviced by the nearby railroad. Exeter plans to realign the railroad so only one spur enters both the new warehouse facility and the neighboring Fry Communications facility.
Exeter plans to contribute $150,000 in cash escrow to New Kingstown Vision's design and master plan for a beautification/streetscape project, and also to assist in efforts to minimize the speed limit through town to 25 miles per hour.
They also plan to rehabilitate Dauphin and Fry drives, both private roads, and provide additional street lights in the location.
Plans also include 37 acres of land south of the proposed warehouse and across the railroad tracks, where Exeter would install an approximate nine-acre stormwater detention basin.
The rest of the agricultural land, they said, would be offered to the township for its own use.
Supervisors discussed the possibility of renting the land to a local farmer.
www.omegare.com
Keystone Relocates HQ to Conshohocken
by Steve Lubetkin, GlobeSt.com
Keystone Property Group has relocated its offices to SORA Conshohocken at 125 East Elm Street from its former headquarters in Bala Cynwyd. Keystone recently acquired SORA, a multifaceted transit-oriented redevelopment initiative located in the gateway of Conshohocken.
Keystone’s acquisition of the headquarters building represents its fourth commercial property in Conshohocken. A staff of 50 professionals will operate from the new headquarters, while the company operates satellite offices in New York and Miami.
Keystone is currently firming up plans for SORA–formerly known as One Conshohocken–a mixed-use project consisting of four properties within the Conshohocken Redevelopment area. Keystone acquired the land to transform the site into a vibrant public plaza flanked by restaurants, shops, a 200-room hotel and a new class A, 300,000-square-foot office building. The project will enjoy convenient connections throughout Eastern Pennsylvania, including Philadelphia, from the adjacent Conshohocken SEPTA train station.
”As our commercial redevelopment footprint continues to expand throughout the Philadelphia metropolitan area, we aimed to identify a new company headquarters that was located in a central hub such as Conshohocken,” says Bill Glazer, president of Keystone. “It was especially important for us to invest in the area near SORA, which is slated to serve as the commercial and cultural centerpiece of Conshohocken.”
Keystone’s plan for SORA, in line with the Borough’s comprehensive revitalization strategy for Conshohocken, includes a vibrant public plaza situated in the middle of the development, designed as a community event and gathering space as well as the repurposing and restoration of the 136-year-old Conshohocken Firehouse, as a brewpub with indoor/outdoor dining and event experiences. Keystone will also provide local residents, businesses and visitors with approximately 300 additional free parking spaces onsite.
www.omegare.com
Keystone Property Group has relocated its offices to SORA Conshohocken at 125 East Elm Street from its former headquarters in Bala Cynwyd. Keystone recently acquired SORA, a multifaceted transit-oriented redevelopment initiative located in the gateway of Conshohocken.
Keystone’s acquisition of the headquarters building represents its fourth commercial property in Conshohocken. A staff of 50 professionals will operate from the new headquarters, while the company operates satellite offices in New York and Miami.
Keystone is currently firming up plans for SORA–formerly known as One Conshohocken–a mixed-use project consisting of four properties within the Conshohocken Redevelopment area. Keystone acquired the land to transform the site into a vibrant public plaza flanked by restaurants, shops, a 200-room hotel and a new class A, 300,000-square-foot office building. The project will enjoy convenient connections throughout Eastern Pennsylvania, including Philadelphia, from the adjacent Conshohocken SEPTA train station.
”As our commercial redevelopment footprint continues to expand throughout the Philadelphia metropolitan area, we aimed to identify a new company headquarters that was located in a central hub such as Conshohocken,” says Bill Glazer, president of Keystone. “It was especially important for us to invest in the area near SORA, which is slated to serve as the commercial and cultural centerpiece of Conshohocken.”
Keystone’s plan for SORA, in line with the Borough’s comprehensive revitalization strategy for Conshohocken, includes a vibrant public plaza situated in the middle of the development, designed as a community event and gathering space as well as the repurposing and restoration of the 136-year-old Conshohocken Firehouse, as a brewpub with indoor/outdoor dining and event experiences. Keystone will also provide local residents, businesses and visitors with approximately 300 additional free parking spaces onsite.
www.omegare.com
Tuesday, March 3, 2015
Lawndale Plaza Sold for $24.5M
Highland Development Group Ltd. sold the Lawndale Plaza shopping center at 6301-6395 Oxford Ave. in Philadelphia, PA to Cedar Realty Trust, Inc. for $24.5 million, or about $263 per square foot.
The 93,282-square-foot neighborhood center was built in 1996 on 7.2 acres in the Northeast Philadelphia submarket, within the Lawndale neighborhood, a solid trade area with a median household income of $43,000 and a population of 377,000 in a three-mile radius.
The grocery-anchored asset was fully leased at the time of sale, and traded unencumbered by existing debt. A well-performing Shop-Rite occupies 63,000 square feet, with inline space filled by regional and national tenants including Advance Auto Parts, T-Mobile, Subway, Dunkin Donuts, LaundroWorld, and Sun Federal.
"We are excited about the acquisition of Lawndale Plaza, as it complements and grows our presence in the Philadelphia market," said Bruce Schanzer, president and CEO of Cedar. "The acquisition fits perfectly into our Washington DC to Boston footprint and is consistent with the objectives of our capital migration strategy to improve our average asset quality."
www.omegare.com
The 93,282-square-foot neighborhood center was built in 1996 on 7.2 acres in the Northeast Philadelphia submarket, within the Lawndale neighborhood, a solid trade area with a median household income of $43,000 and a population of 377,000 in a three-mile radius.
The grocery-anchored asset was fully leased at the time of sale, and traded unencumbered by existing debt. A well-performing Shop-Rite occupies 63,000 square feet, with inline space filled by regional and national tenants including Advance Auto Parts, T-Mobile, Subway, Dunkin Donuts, LaundroWorld, and Sun Federal.
"We are excited about the acquisition of Lawndale Plaza, as it complements and grows our presence in the Philadelphia market," said Bruce Schanzer, president and CEO of Cedar. "The acquisition fits perfectly into our Washington DC to Boston footprint and is consistent with the objectives of our capital migration strategy to improve our average asset quality."
www.omegare.com
Monday, March 2, 2015
RR Donnelley Sells Building in Bloomsburg, PA
by Steve Lubetkin, Globest.com
RR Donnelley sold its 370,000-square-foot single-story industrial building on 56.6 acres at 4411 Old Berwick Road in Bloomsburg, PA to Sekisui Polymer Innovations, LLC, which has an existing facility near the site and plans to bring an additional 200 new jobs to the area over the next five years.
Key features of the property include 6-inch reinforced concrete floor; concrete block over heavy structural steel frame and insulated metal panel walls; Firestone single-ply membrane roof; columns spaced 30 feet x 40 feet and 45 feet x 45 feet; ceiling heights to 26 feet; T-8 fluorescent lighting; wet sprinkler system; approximately 10,500 square feet of office space; 16 dock doors with levelers and seals; two drive-in doors and parking for 480 vehicles.
BIDA were assisted in their marketing efforts by the continued aid and cooperation received from numerous other sources including the Board of Columbia County Commissioners, the Governor’s Action Team, the Central Pennsylvania Career Link, the SEDA-COG Joint Rail Authority, the North Shore Railroad and PPL.
www.omegare.com
RR Donnelley sold its 370,000-square-foot single-story industrial building on 56.6 acres at 4411 Old Berwick Road in Bloomsburg, PA to Sekisui Polymer Innovations, LLC, which has an existing facility near the site and plans to bring an additional 200 new jobs to the area over the next five years.
Key features of the property include 6-inch reinforced concrete floor; concrete block over heavy structural steel frame and insulated metal panel walls; Firestone single-ply membrane roof; columns spaced 30 feet x 40 feet and 45 feet x 45 feet; ceiling heights to 26 feet; T-8 fluorescent lighting; wet sprinkler system; approximately 10,500 square feet of office space; 16 dock doors with levelers and seals; two drive-in doors and parking for 480 vehicles.
BIDA were assisted in their marketing efforts by the continued aid and cooperation received from numerous other sources including the Board of Columbia County Commissioners, the Governor’s Action Team, the Central Pennsylvania Career Link, the SEDA-COG Joint Rail Authority, the North Shore Railroad and PPL.
www.omegare.com
Saturday, February 28, 2015
Hazelton Industrial Building Sale to Development Agency
by Steve Lubetkin Globest.com
A 25,000-square-foot industrial building located at 63A Green Mountain Road in Hazleton, PA, was sold to Greater Hazleton Community Area New Development Organization, Inc. The seller was D & F Properties, LLC.
The 25,000-square-foot building is located within Humboldt Industrial Park – a 3,000-acre industrial complex just off Interstate 81 (Exit #143) along State Route 924. Home to 50 industries and 7,000 employees, it is the largest industrial park in the greater Hazleton area. Current tenants include: Amazon.com, The Hershey Company, Aryzta, Graham Packaging, Tootsie Roll Industries, Archer Daniels Midland, AutoZone and American Eagle, among others.
The buyer, known by its acronym, “CAN DO,” is a private, non-profit industrial/economic development corporation serving greater Hazleton in Northeastern PA. The agency’s goal is to foster economic activity in the greater Hazleton Area through acquiring and developing the land and infrastructure needed to attract new industries and new jobs to greater Hazleton.
“We are pleased to have sold a building with such a desirable address to an organization invested in the future growth of Hazleton and the surrounding area,” says Cole.
The 25,000-square-foot warehouse/manufacturing building features 17’ ceiling heights, seven tailgates, one drive-in loading door and a small office area. It is situated on a 25.87-acre lot.
www.omegare.com
A 25,000-square-foot industrial building located at 63A Green Mountain Road in Hazleton, PA, was sold to Greater Hazleton Community Area New Development Organization, Inc. The seller was D & F Properties, LLC.
The 25,000-square-foot building is located within Humboldt Industrial Park – a 3,000-acre industrial complex just off Interstate 81 (Exit #143) along State Route 924. Home to 50 industries and 7,000 employees, it is the largest industrial park in the greater Hazleton area. Current tenants include: Amazon.com, The Hershey Company, Aryzta, Graham Packaging, Tootsie Roll Industries, Archer Daniels Midland, AutoZone and American Eagle, among others.
The buyer, known by its acronym, “CAN DO,” is a private, non-profit industrial/economic development corporation serving greater Hazleton in Northeastern PA. The agency’s goal is to foster economic activity in the greater Hazleton Area through acquiring and developing the land and infrastructure needed to attract new industries and new jobs to greater Hazleton.
“We are pleased to have sold a building with such a desirable address to an organization invested in the future growth of Hazleton and the surrounding area,” says Cole.
The 25,000-square-foot warehouse/manufacturing building features 17’ ceiling heights, seven tailgates, one drive-in loading door and a small office area. It is situated on a 25.87-acre lot.
www.omegare.com
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