Consolidated Container Company has signed a 10-year lease renewal for its 80,338-square-foot space in the industrial building at 6831 Ruppsville Rd. in Allentown, PA.
The Lehigh Valley Distribution Center Bldg. 12 was built in 1987 and is owned by Global Logistic Properties. Consolidated Container Company occupies the entire building.
Wednesday, February 14, 2018
Mapletree Investments Pays $197.5M for Leasehold Interest in Evo at Cira Centre South
Mapletree Investments, a leading real estate development, investment and capital management company headquartered in Singapore that focuses on growth markets, has purchased the ground lease under the Evo at Cira Centre South student housing building at 2930 Chestnut St. in Philadelphia, PA from Brandywine Realty Trust and Harrison Street Capital for $197.5 million.
The 0.3-acre lot is improved with a 33-story, 483,813-square-foot, 5-Star multifamily building that delivered in 2014 as the tallest purpose-built student housing tower in the country. It offers 363 units ranging from studios to four-bedroom layouts for a total of 850 student beds serving both the University of Pennsylvania and Drexel University.
Harrison Street Capital acquired the asset (leased fee) from Campus Crest Communities as part of a multi-state bulk portfolio sale for $1.9 billion in March 2016, according to CoStar data. Harrison Street is one of the largest private investors in the student housing market with more than 73,000 beds throughout the U.S. and Europe. Since inception in 2005, Harrison Street has invested $18 billion across its portfolio strategies, including $9 billion across 232 properties in education and student housing assets.
www.omegare.com
The 0.3-acre lot is improved with a 33-story, 483,813-square-foot, 5-Star multifamily building that delivered in 2014 as the tallest purpose-built student housing tower in the country. It offers 363 units ranging from studios to four-bedroom layouts for a total of 850 student beds serving both the University of Pennsylvania and Drexel University.
Harrison Street Capital acquired the asset (leased fee) from Campus Crest Communities as part of a multi-state bulk portfolio sale for $1.9 billion in March 2016, according to CoStar data. Harrison Street is one of the largest private investors in the student housing market with more than 73,000 beds throughout the U.S. and Europe. Since inception in 2005, Harrison Street has invested $18 billion across its portfolio strategies, including $9 billion across 232 properties in education and student housing assets.
www.omegare.com
Monday, February 12, 2018
McCormick Taylor Leases 59,000 SF at 1818 Market Street
McCormick Taylor, Inc. has leased 59,218 square feet in the office building at 1818 Market St. in Philadelphia, PA.
The 37-story 1818 Market Street property totals 1.14 million square feet in the Market Street West submarket. It delivered in 1971 and was renovated in 2015. The property is currently owned by Ellen-Deane Cummins, is managed by Shorenstein Realty Services and is leased by Cushman & Wakefield.
McCormick Taylor’s lease consists of space on the 15th and 16th floors of the building. Other tenants include American College of Radiology, Beneficial Bancorp and Market Resource Partners, among many others.
www.omegare.com
The 37-story 1818 Market Street property totals 1.14 million square feet in the Market Street West submarket. It delivered in 1971 and was renovated in 2015. The property is currently owned by Ellen-Deane Cummins, is managed by Shorenstein Realty Services and is leased by Cushman & Wakefield.
McCormick Taylor’s lease consists of space on the 15th and 16th floors of the building. Other tenants include American College of Radiology, Beneficial Bancorp and Market Resource Partners, among many others.
www.omegare.com
Fitler Club Leases 75,000 SF in Philadelphia
Fitler Club, a private lifestyle club, has signed a lease for 75,000 square feet in the new office building at 2400 Market St. in Philadelphia, PA.
The nine-story building totals 615,481 square feet and is owned by PMC Property Group. It was constructed in 1921, and is currently undergoing renovation, expected to be complete by October 2018.
Fitler Club is expected to utilize space on the lower, first and second floors, and will include 14 hotel rooms, event space, fitness center, restaurant and a movie theater.
www.omegare.com
The nine-story building totals 615,481 square feet and is owned by PMC Property Group. It was constructed in 1921, and is currently undergoing renovation, expected to be complete by October 2018.
Fitler Club is expected to utilize space on the lower, first and second floors, and will include 14 hotel rooms, event space, fitness center, restaurant and a movie theater.
www.omegare.com
Investors Trade 312-Unit Dover Multifamily Portfolio
Dover Investors LP sold two apartment buildings at 51 and 255 Webbs Ln. in Dover, DE for $20 million, or approximately $64,000 per unit.
The deal totals 312 units across 282,453 square feet. The Alder Park Apartments was built in 1963 and is approximately 159,000 square feet with 215 units. The Pine Grove Apartments was built in 1972 and is approximately 123,453 square feet with 96 units.
www.omegare.com
The deal totals 312 units across 282,453 square feet. The Alder Park Apartments was built in 1963 and is approximately 159,000 square feet with 215 units. The Pine Grove Apartments was built in 1972 and is approximately 123,453 square feet with 96 units.
www.omegare.com
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