Commercial Real Estate
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Vanguard Ditches Malvern Office Lease, Cutting Building Occupancy to 36 Percent
Vanguard is walking away from 87,600 square feet of office space in Malvern, a move that will send one building’s occupancy from 100 percent to 36 percent, reports Paul Schwedelson for the Philadelphia Business Journal. The investment giant’s lease at 45 Liberty Blvd. in the Great Valley Corporate Center expires at the end of June, and Vanguard informed landlord FLD Group that it won’t…
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263-Room Philadelphia Airport Hotel for Sale: Embassy Suites Lists at $40M Appraisal
A familiar name near Philadelphia International Airport could soon be under new ownership. The 263-room Embassy Suites by Hilton Philadelphia Airport at 9000 Bartram Ave. has been put up for sale by Dallas-based Ashford Hospitality Trust, a move that would mark the company’s exit from the Greater Philadelphia market, according to Emma Dooling of the…
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Embassy Suites Near Philadelphia Airport Listed for Sale As Investors Eye 2026 Event Boom
A well-known all-suite hotel steps from Philadelphia International Airport has hit the market, and the timing is no coincidence. The Embassy Suites by Hilton Philadelphia Airport, a 263-room property at 9000 Bartram Ave., is being offered for sale as investors look to cash in on what could be one of the most lucrative stretches in…
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Why Markets Like King of Prussia Are Winning: A CEO’s Guide to Location Strategy
CEOs today are navigating a moment defined by competing pressures – remote work, hybrid expectations and a narrow talent market. Many are sitting on large footprints of underutilized office space – an issue playing out across the country – while simultaneously trying to position themselves near the workforce they need to stay competitive. Today’s leaders…
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From Dead Mall to Town Center: The Plan to Reimagine Neshaminy Mall in Bensalem
For generations of Bucks County residents, Neshaminy Mall was more than a shopping center. It was where people saw movies, wandered the food court, bought back-to-school clothes, and spent Friday nights during the height of the suburban mall era. Now, the future of the Bensalem property appears headed in a much different direction. In July…
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North Philadelphia’s Long-Vacant Budd Plant Could Be Transformed Under New Rezoning Plan
A massive, long-dormant industrial complex in North Philadelphia may finally be getting a second life, and the vision for it is an ambitious one. City Councilmember Curtis Jones Jr. has introduced legislation to rezone the former Budd Company plant in the Nicetown-Tioga neighborhood, opening the door to residential, mixed-use, and commercial development alongside life sciences…
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Historic Boyd Theatre Marquee At Risk As Owner Seeks to Modernize Philadelphia Landmark
The Boyd Theatre has survived closure, a preservation battle, and the demolition of most of its auditorium, but now its iconic marquee may be next to go. Pearl Properties, which owns Philadelphia’s last great downtown movie palace, wants to remove the theater-style marquee and modernize the recessed storefront, writes Jake Blumgart for The Philadelphia Inquirer.…
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Tastykake’s Navy Yard Headquarters Sold to Salt Lake City-Based Investment Firm in $87M Deal
Tastykake’s headquarters at the Philadelphia Navy Yard has been sold to Salt Lake City-based Bridge Investment Group, writes Paul Schwedelson for the Philadelphia Business Journal. Prologis, the logistics real estate firm that had owned the 345,500-square-foot property since 2020 after a merger with Liberty Property Trust, sold the building in a $87 million deal. The…
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One of Lansdale’s Busiest Retail Corners Just Hit the Market
One of Lansdale’s most recognizable shopping destinations is on the market, with a price tag of around $55 million, writes Paul Schwedelson for The Philadelphia Business Journal. Water Tower Square, a fully occupied 269,000-square-foot retail center on Horsham Road, has been listed for sale. Blue Bell-based Goldenberg Group developed the property and has owned it…
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How Fort Washington’s Toll Brothers Is Thriving in a Tough Housing Market
Fort Washington’s Toll Brothers found the sweet spot in a tough housing market, writes Ryan Mulligan for the Philadelphia Business Journal. As new home sales slow nationally, major homebuilders are pivoting toward active adult communities. Toll Brothers is leading the charge through its Regency brand. Regency communities are built around lifestyle. Clubhouses, pickleball courts, fitness…
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Lindsey Scannapieco Successfully Transformed the Bok Building, She’s Now Eyeing Broad Street
Within two years of acquiring the Bok Building in 2015, developer Lindsey Scannapieco had a moment when she overheard a group of people raving about her work transforming the shuttered high school. The former South Philadelphia high school is now a collaborative workspace for several local artists, makers, small businesses, and nonprofits with a rooftop…
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Developers Bet Big on Horsham With Major Luxury Apartment Community
After years of planning, a major luxury apartment project is finally moving forward in Horsham Township, writes Paul Schwedelson for Philadelphia Business Journal. Developers are breaking ground on AVE Horsham. The 274-unit apartment community is planned for the former Telerx call center site at 723 Dresher Road. The project is being developed through a partnership…
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Medical Office Building in Warrington Changes Hands in $17.25M Deal
Stone Manor Medical Office Building in Warrington has been acquired by Cornerstone Cos., a healthcare real estate development and investment firm based in Indianapolis, for $17.25 million, writes John George for the Philadelphia Business Journal. Built in 2007 as part of the Stone Manor Corporate Center, the 62,750-square-foot building recorded 93 percent occupancy at the…
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Sale of Flats at Lansdale Tops Regional Averages, Signals Strong Demand
A major apartment complex in Lansdale has changed hands, underscoring the strength of Montgomery County’s rental market, writes Paul Schwedelson for The Philadelphia Business Journal. New York-based DRA Advisors has acquired Flats at Lansdale, a 180-unit community located along Towamencin Avenue, for $58 million. The purchase marks the firm’s first multifamily investment in Pennsylvania. The…
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Former Adult Entertainment Venue in South Philly Sold for $2.3 Million, Will Be Repurposed
Show & Tel, an adult entertainment club in South Philadelphia that had been open since the 1990s, has been closed and will soon be repurposed, writes Michael Tanenbaum for PhillyVoice. The 32,000-square-foot property was sold for $2.3 million and will be redeveloped as a storage facility and office space. The property was listed for $3.5…
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Thena Hotel in Center City Goes Up for Sale
Thena Hotel, a boutique property in Center City, has been put up for sale with an asking price listed at $2.62 million, writes Emma Dooling for the Philadelphia Business Journal. Currently owned by RTE Properties, this is the first time the hotel has been put up for sale since the Philadelphia-based firm acquired it for…
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Bucks County 150,000-Square-Foot Shopping Center Listed for Sale
Yardley’s Prickett Preserve shopping center, anchored by Wegmans, has been put on the market, writes Paul Schwedelson for the Philadelphia Business Journal. According to JLL’s listing, the shopping center spans nearly 150,000 square feet and was completed two years ago, and is 98 percent occupied. Wayne’s Envision Land Use and Langhorne’s DeLuca Homes collaborated to develop the shopping center. While they initially…
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Chesterbrook Campus Leases Office Building to New Tenant with International Connections
Rubenstein Partners’ Chesterbrook office campus has scored a new tenant for the 41,700 square foot building at 965 Chesterbrook Blvd: equipment insurance provider HSB, writes Noah Zucker for BisNow. Currently based in Wayne, Hartford Steam Boiler, otherwise called HSB, is subsidiary of German firm Munich Reinsurance Co. The move to Chesterbrook is a relocation of services.…
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