Real Estate
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Liberty Property Trust’s CEO Cited As One Of The 27 Faces Behind Philly’s Boom
Philadelphia’s wave of revitalization gets front page treatment in the city’s namesake magazine’s March edition. Interspersed among Philadelphia magazine’s stories of how “pent up demand from the Great Recession; the extraordinary revival of urban living; the economic clout of big institutions like Penn, Drexel and CHOP” are driving a new era of revitalization happening across…
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CubeSmart’s Appetite For Acquisitions Is Diminishing
The pace at which CubeSmart, the Malvern-based self-storage real estate investment trust, is devouring other companies through acquisitions appears to be easing up while corporate revenues are accelerating, according to a report in The SpareFoot Storage Beat. After investing half a billion dollars into 52 facilities last year, current CubeSmart plans only call for $100…
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CubeSmart Takes Top Stevie Awards Back To Malvern
CubeSmart, a self-administered and self-managed real estate investment trust focused on self-storage facilities, was awarded the Gold Stevie® Award in the ninth annual Stevie Awards for Sales & Customer Service. The Stevie Awards for Sales & Customer Service are the world’s top awards for sales, contact centers, and customer service. CubeSmart received the top prize…
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Advantage Building & Facility Services Celebrates 10-Years, Promotes From Within
Paving the way for its second decade, an expanding West Chester property and facilities management firm has promoted two strategic employees to greater leadership roles. Advantage Building & Facility Services recently elevated its community-minded and business-savvy support services manager, Michael Glover, to business development manager as well as long-time maintenance technician Donald Cebolla to that vacated…
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Wave of Leases For Liberty Property Trust
A post-recession mindset of expansion and a new Pennsylvania Turnpike interchange at Route 29 between Malvern and King of Prussia have combined to unlock new potential for corporate offices, and Malvern-headquartered Liberty Property Trust raked in a rash of new late-year lease commitments that brought its 2014 total beyond 750,000 square feet. “I think it’s indicative…
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West Chester’s Elite Economy Fetches $36.5M For Halstead Apartments
With the robust West Chester economy cited as a driving factor, Metropolitan Management Corp. plunked down $36.5 million to buy the 198 apartments and townhomes at Halstead, which lies “near Routes 202 and 322 and the West Chester Pike, just minutes away from downtown West Chester,” according to a Commercial Property Executive report. “Halstead represents the…
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Chester County Housing Market Trends
By Chris LaGarde & Caleb Knecht of Keller Williams Real Estate Cutthroat and competitive. Those are the words for this approaching the spring housing market, at least for buyers. Buyers, as we will touch on, are entering a 3rd year of a very competitive market where every little detail of their offer will be scrutinized…
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Nordstrom Rack Is Newest Retailer To Plan Space At King Of Prussia Town Center
Nordstrom, Inc. says it plans to relocate its Rack store at The Overlook at King of Prussia to the King of Prussia Town Center, next to retailers including Wegmans and ULTA Beauty. The Rack will move into a 35,000-square-foot space set to open in fall 2016. The property, adjacent to the King of Prussia Mall,…
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At Site Of Granite Run Mall, Residential and Retail Planned
The JCPenney store at the Granite Run Mall just beyond Chester County’s eastern edge on Highway 1 will not stay shuttered long after it closes this spring. Owner BET Investments plans to rush in with a wrecking ball and replace the struggling shopping site with an upscale town center boasting a pair of multi-story apartment complexes, retail…
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West Chester Business Alliance Pushing Off-The-Table Plaza Development
An alliance of business leaders and West Chester residents has banded together to champion an unofficial redevelopment plan for a public plaza and five-story office complex at the very visible former Mosteller site downtown — even though the idea comes from a sketch and is not one of three formal plans proposed by builder Eli…
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Latest Planned Coatesville Development Could Be Catalyst
The much-anticipated breakthrough redevelopment project in Coatesville could be a block-long transformation of the former Lipkin furniture store into street-level retail stores and 44 market-rate apartments. Not far from the Coatesville Flats — the subject of much redevelopment discussion — a $15 million to $17 million development idea is taking shape thanks to Legend Properties and…
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Hankin Group Loses Bid To Redevelop Willow Grove Naval Base
Local Chester County real estate development firm the Hankin Group recently lost out to California-based national developer Catellus for the chance to redevelop the 862-acre shuttered Willow Grove Naval Air Station into “1,486 residential units, an office park, a town center, a golf course, an aviation museum, a middle school, a retirement community, a hotel and conference…
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Toll Brothers Build New Story For Tragic ‘Foxcatcher’ Estate
The Oscar-nominated true crime drama film “Foxcatcher” appears to be helping Toll Brothers transform a tragedy associated with a local 400-acre estate into home-sweet-home in Newtown Square. In a Wall Street Journal news story, Kris Maher reports Toll Brothers is remaking the former home of billionaire John du Pont – whose obsession with both winning…
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Local Real Estate Firm Berkshire Hathaway HomeServices, Fox and Roach Named ‘Platinum Recycler’
Devon-based Berkshire Hathaway HomeServices, Fox and Roach Realtors, and affiliate The Trident Group, have received a Platinum Recycler award from Keystone Technology Management. BHHS Fox & Roach/Trident were recognized for excellence in corporate environmental stewardship, recycling and green business initiatives. During 2014 the company recycled 21,381 pounds of computers. “Since BHHS Fox & Roach/Trident announced…
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Coatesville Redevelopment Caught In A Catch-22
Coatesville is caught in a catch-22 with respect to redeveloping the Coatesville Flats and beyond. As state Sen. Andy Dinniman put it in a recent Daily Local News article, “the development community wants the train station to come in before moving forward with a project, while PennDOT says they won’t build a station unless development comes…
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New Development Is In The Works Near Magnolia Place In Kennett Square
The Daily Local News is reporting construction on a new development that will complement Victory Brewing Co. and Magnolia Place will begin this spring on the former site of Sunny Dell Foods in Kennett Square. Kennett Township and Kennett Square Borough are cooperating to fast-track the four-building multi-use construction project, which includes a restaurant, office…
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CubeSmart Plans More Acquisitions For 2015
CubeSmart L.P. of Malvern has raised slightly more than $400 million in equity this past year, funds which will be used to fund the company’s acquisition program. Christopher Marr, president and CEO of CubeSmart, also told Sarah Borchersen-Keto of Reit.com there is a bright future in the self-storage business and that consumers are finding innovative…
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JC Penney Will Close Its Granite Run Store
JC Penney confirmed to the Huffington Post it will close 40 stores this April, including its nearby store at the Granite Run Mall in Media. Last year the JC Penney store at the Exton Mall was one of 33 stores closed by the department store. Read the Huffington Post story and list of planned closures…
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