By: Lance Knickerbocker
Aquinas Realty Partners of Havertown has presented Norristown Council with several alternative development proposals for the former Kennedy-Kenrick Catholic High School property, writes Carl Rotenberg for The Times Herald.
The property had been approved for the development of a 208-unit senior housing proposal from Pottstown-based Hallman Retirement Neighborhoods in November 2013, but it never progressed any further.
The original $50 million project proposal from Hallman involved 46 units and a community center which would be built in the retrofitted high school building. The plan also included two multi-family buildings totaling 98 units, 28 town houses, and two single-family homes for residential staff.
Aquinas’s first alternative would demolish the school building and use its footprint to build a four-story main building of 98 independent-living units with another two 54-unit buildings developed over two parking garages.
The second option is a main three-story building of 110 units and two 48-unit, three-story buildings over a parking garage. The third option has above ground parking lots with a larger 206-unit building built in phases.
If there is a favorable response from council, the company may present its plans to the Norristown Planning Commission on July 12.
www.omegare.com
Thursday, June 30, 2016
Launch Trampoline Park Jumps Into 32,000 SF in Deptford
Launch Trampoline Park signed a lease for 32,220 square feet in the retail building at 1500 N. Almonesson Rd. in Deptford, NJ.
The Court at Deptford I shopping center totals 361,103 square feet in the Gloucester County submarket of Philadelphia. The Goldenberg Group, Inc. developed the property in 1991, and it is currently owned by DLC Management Corp.
www.omegare.com
The Court at Deptford I shopping center totals 361,103 square feet in the Gloucester County submarket of Philadelphia. The Goldenberg Group, Inc. developed the property in 1991, and it is currently owned by DLC Management Corp.
www.omegare.com
Hartford Funds Leases 76,000 SF in Wayne
Hartford Funds signed a lease for 75,922 square feet in the office building at 690 Lee Rd. in Wayne, PA. The Fortune 500 national investment and insurance company will occupy the entire building in a deal that commences in mid-2017.
The three-story, 75,922-square-foot office building was constructed in 1988 on 10.1 acres in the King of Prussia / Wayne submarket of Chester County, within the Chesterbrook Corporate Center.
Pitcairn Properties and SEB Immobilien USA acquired the asset as part of a 17-building bulk portfolio acquisition in 2006 from FV Office Partners for $251 million, according to CoStar data, in a sale that allocated the single-asset price at $13.88 million.
www.omegare.com
The three-story, 75,922-square-foot office building was constructed in 1988 on 10.1 acres in the King of Prussia / Wayne submarket of Chester County, within the Chesterbrook Corporate Center.
Pitcairn Properties and SEB Immobilien USA acquired the asset as part of a 17-building bulk portfolio acquisition in 2006 from FV Office Partners for $251 million, according to CoStar data, in a sale that allocated the single-asset price at $13.88 million.
www.omegare.com
Dermody Properties Breaks Ground on New Warehouse
Dermody Properties and Great Point Investors LLC have broken ground on a new 393,120-square-foot distribution center at 2810 Oldmans Creek Rd. in Logan Twp, NJ.
Slated for delivery this fall on a 46-acre tract in the LogistiCenter at Logan business park, the property will feature 36-foot clear heights, 90 loading docks and four drive-ins, 186 car parking spaces and 129 trailer spaces within the Gloucester County Industrial submarket of Philadelphia.
LogistiCenter at Logan is a 1,100-acre, master-planned business park. Upon total build-out, the site will accommodate over 7.4 million square feet of industrial, distribution, and light manufacturing space. Currently, there is 4 million square feet of fully-entitled land parcels available for build-to-suit or sale. The proposed facilities, ranging from 10,000 to 1.2 million-square-foot buildings, have been designed to optimize the distribution supply chain and maximum speed to market. There are 11 existing buildings in the park, totaling 3.4 million square feet, located 12 miles south of Philadelphia with direct access to I-295, NJ-Turnpike, Route 130, I-95 and rail service.
www.omegare.com
Slated for delivery this fall on a 46-acre tract in the LogistiCenter at Logan business park, the property will feature 36-foot clear heights, 90 loading docks and four drive-ins, 186 car parking spaces and 129 trailer spaces within the Gloucester County Industrial submarket of Philadelphia.
LogistiCenter at Logan is a 1,100-acre, master-planned business park. Upon total build-out, the site will accommodate over 7.4 million square feet of industrial, distribution, and light manufacturing space. Currently, there is 4 million square feet of fully-entitled land parcels available for build-to-suit or sale. The proposed facilities, ranging from 10,000 to 1.2 million-square-foot buildings, have been designed to optimize the distribution supply chain and maximum speed to market. There are 11 existing buildings in the park, totaling 3.4 million square feet, located 12 miles south of Philadelphia with direct access to I-295, NJ-Turnpike, Route 130, I-95 and rail service.
Keystone Acquires One Washington Square In Philadelphia For $114 Million
by Steve Lubetkin Globest.com
Keystone Property Group has acquired One Washington Square, also known as the Penn Mutual Tower, an 880,000-square-foot commercial building located at 510-530 Walnut Street in Philadelphia, for $114 million.
One Washington Square, located on the Northeast corner of historic Washington Square, represents Keystone’s latest investment in the historic Independence Mall submarket. The property is located adjacent to The Curtis, Keystone’s newly repositioned mixed-use property overlooking Washington Square Park and Independence Mall. These properties are within blocks of 100 Independence Mall West, the historic Dow Chemical building that Keystone has reimagined, creating a dynamic indoor-outdoor experience for pedestrians, replete with the popular Independence Beer Garden and a La Colombe coffee café.
“We strongly believe that Washington Square and the surrounding neighborhoods are quickly becoming an epicenter for modern, forward-thinking workforces in search of a fresh, collaborative environment,” says Bill Glazer, president and CEO of Keystone Property Group. “This area is indeed historic, but it’s also emerging as one of the city’s coolest hubs that blends culture, entertainment, dining, and business.”
One Washington Square is home to several corporate headquarters, including the American Board of Internal Medicine, Urban Engineers, and BDP International. The building, which is designated with landmark status by the National Register of Historic Places, has received extensive renovations throughout its history, most recently in 2014. Keystone is currently in the process of planning a variety of structural and systems upgrades to the building.
Keystone is seeking to convert the building’s ground-floor and mezzanine office space located at 530 Walnut Street into retail, reflecting the area’s growing workforce and pedestrian traffic. Keystone has a history of implementing successful conversions at its nearby properties, including 100 Independence Mall West and The Curtis, where it is revitalizing the ground-floor streetscape and building atrium while adding 63 luxury apartments.
“The reinvention of the pedestrian experience at this building is central to our mission to create a more dynamic mixed-use environment in one of Philadelphia’s most historic neighborhoods,” says Glazer.
Currently, Keystone is marketing ground floor and mezzanine retail spaces from approximately 20,000 to 40,000 square feet.
www.omegare.com
Keystone Property Group has acquired One Washington Square, also known as the Penn Mutual Tower, an 880,000-square-foot commercial building located at 510-530 Walnut Street in Philadelphia, for $114 million.
One Washington Square, located on the Northeast corner of historic Washington Square, represents Keystone’s latest investment in the historic Independence Mall submarket. The property is located adjacent to The Curtis, Keystone’s newly repositioned mixed-use property overlooking Washington Square Park and Independence Mall. These properties are within blocks of 100 Independence Mall West, the historic Dow Chemical building that Keystone has reimagined, creating a dynamic indoor-outdoor experience for pedestrians, replete with the popular Independence Beer Garden and a La Colombe coffee café.
“We strongly believe that Washington Square and the surrounding neighborhoods are quickly becoming an epicenter for modern, forward-thinking workforces in search of a fresh, collaborative environment,” says Bill Glazer, president and CEO of Keystone Property Group. “This area is indeed historic, but it’s also emerging as one of the city’s coolest hubs that blends culture, entertainment, dining, and business.”
One Washington Square is home to several corporate headquarters, including the American Board of Internal Medicine, Urban Engineers, and BDP International. The building, which is designated with landmark status by the National Register of Historic Places, has received extensive renovations throughout its history, most recently in 2014. Keystone is currently in the process of planning a variety of structural and systems upgrades to the building.
Keystone is seeking to convert the building’s ground-floor and mezzanine office space located at 530 Walnut Street into retail, reflecting the area’s growing workforce and pedestrian traffic. Keystone has a history of implementing successful conversions at its nearby properties, including 100 Independence Mall West and The Curtis, where it is revitalizing the ground-floor streetscape and building atrium while adding 63 luxury apartments.
“The reinvention of the pedestrian experience at this building is central to our mission to create a more dynamic mixed-use environment in one of Philadelphia’s most historic neighborhoods,” says Glazer.
Currently, Keystone is marketing ground floor and mezzanine retail spaces from approximately 20,000 to 40,000 square feet.
www.omegare.com
Wednesday, June 29, 2016
CHOP Leases Former Grocery Store In Haverford, PA
by Steve Lubetkin, Globest.com
The Children’s Hospital of Philadelphia is leasing 663 W. Lancaster Avenue in Haverford, PA, the site of the former Foodsource grocery store. CHOP is relocating its former practice location at 600 Haverford Road to the new site. The practice opened to the public June 27.
“This is a high-profile, well known location on the Main Line and the property owners were willing to wait to identify a tenant that would not only provide unique services to the community, but also be recognized as a good corporate neighbor. The newly renovated 13,458 square-foot building is one of the few sites along Lancaster Avenue with great visibility, presence and an abundance of off-street parking. This move for CHOP is another example of the medical community continuing to raise its profile in the suburbs with retail-type sites outside of a Center City campus.”
www.omegare.com
The Children’s Hospital of Philadelphia is leasing 663 W. Lancaster Avenue in Haverford, PA, the site of the former Foodsource grocery store. CHOP is relocating its former practice location at 600 Haverford Road to the new site. The practice opened to the public June 27.
“This is a high-profile, well known location on the Main Line and the property owners were willing to wait to identify a tenant that would not only provide unique services to the community, but also be recognized as a good corporate neighbor. The newly renovated 13,458 square-foot building is one of the few sites along Lancaster Avenue with great visibility, presence and an abundance of off-street parking. This move for CHOP is another example of the medical community continuing to raise its profile in the suburbs with retail-type sites outside of a Center City campus.”
www.omegare.com
Tuesday, June 28, 2016
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