Real Estate
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PREIT Will Sell Springfield Park
Exton Mall’s parent company, Pennsylvania Real Estate Investment Trust, trimmed its portfolio of eight properties during 2014, and launched the new year by announcing plans to sell five more Pennsylvania malls, including the nearby Springfield Park. The other are the Palmer Park Mall in Easton, Uniontown Mall in Uniontown, Lycoming Mall in Williamsport and Washington…
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Chester County Real Estate Developer Goes Atlantic City
Picking up on a story originally reported by The Press of Atlantic City, Philly.com reported this morning an affiliate of Devon-based Endeavor Property Group plans to buy the long-shuttered 800 room, 75,000-square-foot Atlantic Club Casino Hotel in Atlantic City. Endeavor, with offices on Lancaster Avenue in Devon, describes itself as, “one of the fastest growing…
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Life Time, A Large-Scale Fitness Center Has Its Eye On Wayne
A fitness center brand known for its spacious, more-than-just-fitness facilities and 24-hour availability is eyeing open real estate in Wayne for a possible expansion. “Life Time (Fitness) is continuously looking for new destinations for expansion, and I can confirm that this is an area of interest,” spokeswoman Natalie Bushaw said in a Philadelphia Business Journal report.…
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See IMC Construction’s Plans For King Of Prussia Mall Connector
If you’re a fan of the King of Prussia Mall, take a look at the plans Malvern’s IMC Construction has posted for the 155,000 square-foot connector that will link The Plaza and The Court here. Construction is underway and should be finished by fall 2016. There will be more than 60 new retailers, an upscale…
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Liberty Property Trust Makes Financial Projections
Liberty Property Trust of Malvern says it has successfully transformed into a company primarily focused on industrial real estate, with national capabilities and opportunities. That’s the assessment of Bill Hankowsky, chief executive officer, as the firm announced expected 2014 financial results and 2015 financial projections. Liberty expects to report funds from operations per share in…
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Sale Of Radnor Court Is ‘One For The Books’
The Philadelphia Business Journal is reporting Radnor Court, an office building off North Radnor-Chester Road in Radnor, was traded to Goldman Sachs from Equus Capital Partners of Philadelphia for more than $360 a square foot — a record-setting price. The building is fully leased on a long-term basis to Jefferson Health System and Airgas Corp.…
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King of Prussia Mall Owner Expanding In Spite Of Industry Slump
Just as The Wall Street Journal proclaimed the mall development business “virtually dead,” the owner of the King of Prussia Mall, the nation’s second-largest shopping center, has unveiled grand plans to expand its Philly area retail attraction and open a Philly outlet development in 2015, according to an official Simon Property Group announcement and news coverage by…
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Sonesta Reimagines Residence-Style Suites In Malvern
Business and vacation travelers will find at Sonesta ES Suites of Malvern completely reimagined and reinvigorated residence-style suites that provide more than just a place to stay. A multi-million dollar renovation completed last summer resulted in a surprisingly different take on an extended stay hotel. The suites have all the amenities of a small apartment…
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Young West Chester Artists Stage Holiday Art Show At Exton Mall Gallery
Never mind that visit to Santa – art created by West Chester Area School District students is on display at the Exton Square Mall Gallery. The gallery is open from 5 to 8 p.m. Fridays and from 11 a.m. to 8 p.m. Saturdays until Dec. 21. Approximately 75 pieces including drawings, paintings, sculptures, photography and…
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November Chester County Real Estate Market Trends
By Chris LaGarde & Caleb Knecht of Keller Williams Real Estate There have been a couple of interesting quirks in Chester County’s housing market numbers this past month. Specifically in average sold price and demand. Does this spell bad news for the overall market? We don’t think so. Let’s look more closely. Demand Demand in…
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PREIT Shears Whitehall Mall From Portfolio
Pennsylvania Real Estate Investment Trust, Exton Mall’s parent company, recently sold more properties including its 50 percent interest in Whitehall Mall in Allentown. PREIT opened the mall in 1966. The transaction was valued at $25 million. Since PREIT began its current disposition program in 2012, 15 assets have been sold, generating total $420 million. “Our…
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Developer Is Connecting, Expanding The Court And Plaza At King Of Prussia Mall
The Court and The Plaza at King of Prussia Mall, separated by a roadway since they were built, will soon be connected. Simon Property Group has begun construction on the 155,000-square-foot expansion/unification project, to be completed by the fall of 2016. The mall is the second largest shopping center in the U.S. Simon said it…
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Brandywine Realty Trust and LCOR Team Up To Build Philadelphia Skyscraper
A partnership between two Chester County companies is the driving force behind a new 29-story apartment, retail and office building rising on Market Street in Philadelphia. Radnor-based Brandywine Realty Trust and Berwyn-based LCOR have joined forces to construct the 455,000-square-foot complex at 1919 Market St., with 90 percent of its 24,000 square feet of business space pre-leased…
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King Of Prussia Developer O’Neill Properties Group In Race For Conshohocken Business Tenants
There’s a race under way to build half a billion dollars’ worth of office towers overlooking the Schuylkill River in Conshohocken, and a Chester County company intends on staking its next big claim there. “There are only a few sites that can accommodate a Class A build-to-suit, and Conshohocken has five of them,” Binswanger broker…
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Liberty Property Trust’s 2014 Transactions Almost $100M
Three new real estate transactions across the country have totaled just shy of $100 million for Malvern-headquartered Liberty Property Trust. The largest of the trio was a $41 million sale of 191,000 square feet of fully-leased office space in a Minneapolis suburb, followed by a $29.7 million sale of 554,000 square feet across five Houston…
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Hankin Group’s Meridian At Eagleview To Open Summer 2016
A luxurious lobby, relaxing indoor pool and convenient underground parking are just the start of the Hankin Group’s newest senior living offering at its innovative and award-winning Eagleview community outside of Exton. The five-story Meridian luxury apartment building will feature 162 residences that boast granite countertops, designer kitchens, balconies, walk-in closets, stainless steel appliances and…
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October Chester County Real Estate Market Trends
By Chris LaGarde & Caleb Knecht of Keller Williams Real Estate Chester County’s real estate market remains very healthy, showing signs of “responsible” growth. Sellers are getting their home sold quicker than any time in the last 6-7 years and for closer to asking price. Rates are surprisingly and unexpectedly low, which means buyers are…
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Archer & Buchanan Add Expertise To Dream Home Trend
At the request of wealthy clients, top-notch architects have designed unique but hard-to-sell mansions, and West Chester’s Archer & Buchanan Architecture has had its hand in the action, crafting a hobbit house for Chester County. “People see all the unique things that are being done, and it inspires them to want something unique,” Peter Archer said…
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