Real Estate
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Renovation Jazzes Up Exton Corporate Center For Prospective Tenants
The already high-class Exton Corporate Center now showcases monument-style signage, a trio of pond fountains, a walking bridge over a running creek, glass doors, and much more — all in an effort to entice future expansion that owner Willner Properties hopes will make the business campus a third larger. “We have been in the building for 10…
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Malvern’s Liberty Property Trust Has New Leases Topping 1M Square Feet In Chicago Region
A local real estate investment organization has found a hot market in the Chicago-Milwaukee corridor. Malvern-based Liberty Property Trust surpassed the 1 million mark in square feet of new lease activity during the third quarter of the year, according to a REJournals.com report. About half of that came from brand new tenants while the other half…
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Protests Over O’Neill Project Escalate To Non-Stop Assemblies, Hunger Strike
Having endured petitions, protests, arrests and a failed injunction against its 16-year-old plans to clear a portion of a Boston suburban forest and build a residential development, King of Prussia-based O’Neill Properties Group now faces non-stop assemblies and at least one hunger strike from a growing contingent of environmentalists whose protests have reached Boston.com. At stake…
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Brandywine Realty Trust Partners To Build 29-Story Glass Tower In Philadelphia
Looking for luxurious living in the Market Street West area of Philadelphia? Brandywine Realty Trust of Radnor and LCOR/CalSTRS are partnering to build a 29-story contemporary glass tower in a mixed-use development at 1919 Market St. in Philadelphia. The 455,000-square-foot building will have 321 luxury apartments with full concierge service and rooftop amenities including a…
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Liberty Property Trust Announces Financials For Third Quarter 2014
Liberty Property Trust of Malvern says it is seeing fertile ground for development and increased demand for Class A properties. Results for the first nine months of 2014 reflect the sale of 6.6 million square feet of suburban office and flex properties. Liberty says year-over-year results reflect strategic portfolio transformation activities that increased its industrial…
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Concord: Sleepy Farming Community Wakes Up as Hub Of Commerce
A remote patch of rolling hills just outside Chester County has been transformed into a thriving hub of business activity thanks to the vision of a man far ahead of his time, according to a feature in the Philadelphia Business Journal. Fred Weitzman, a Concord area developer, put 80 acres of land “under agreement” in the…
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Major Investor Wants PREIT To Place Exton Square Mall Up For Sale
Exton Square Mall’s parent company, the Pennsylvania Real Estate Investment Trust, is standing its ground following the request by one of its shareholders, Land and Buildings, that it divest itself of the 17 least-valued malls in its portfolio – including Chester County’s beloved Exton Square Mall. Joseph DiStefano of Philly.com is reporting Land and Buildings…
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Group Arrested For Protesting King Of Prussia’s O’Neill Properties Plans For Forest Land
A handful of protesters were recently arrested in Massachusetts for trespassing and refusing to leave the site of a planned 298-unit affordable housing complex being developed by King of Prussia-based O’Neill Properties Group, according to a Wicked Local Cambridge report. Protesters expect the project to destroy a portion of the 15.6-acre Silver Maple Forest — “an integral…
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Cubesmart Positions Itself For Growth And Financial Flexibility
CubeSmart, headquartered in Malvern, announced Oct. 14 an underwritten public offering of 6.5 million common shares of beneficial interest, par value $0.01 per share. The self-administered and self-managed real estate investment trust focused on self-storage facilities also said it has granted the underwriters of the offering a 30-day option to purchase up to an additional…
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Bennett Williams Hopes To Develop Land Along Route 30
Bennett Williams Realty, Inc. is hoping to develop a vacant farm field in West Sadsbury Township, Western Chester County, near the intersection of Routes 10 and 30. Signs recently went up near the Wawa at that intersection advertising available anchor and pad space to the West and North of the Wawa. “There are no plans…
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PREIT Puts Another Property Up For Sale
Exton Square Mall’s parent company, Pennsylvania Real Estate Investment Trust (PREIT), continues to shave its portfolio in favor of preferred properties. PREIT says it is selling its remaining parcel at Plaza at Magnolia, a center originally developed by PREIT adjacent to its Magnolia Mall in Florence, S.C. The transaction is expected to close during the…
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West Chester Building May Get Luxury Hotel Makeover From Myles Land & Improvement
The iconic Farmers & Mechanics Building in the heart of West Chester may get a luxury makeover if local officials sign off on a fresh proposal from owner Myles Land & Improvement Co. “The applicant believes that a posh, boutique hotel with accessory high-end eating and drinking facilities will allow for the adaptive reuse of…
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High Hopes For Coatesville Flats Left To Languish — Again
Coatesville’s empty and expired dreams for condominiums, a lumberyard, power plant, park and velodrome at “the Flats,” plus plans for a new Amtrak train station nearby that remain to be seen, have been joined by yet another letdown. Not a single idea returned to the city’s redevelopment authority following the latest plea for proposals to…
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Chester County Seeing Industrial Real Estate Boom
Price tags on industrial property have plummeted from $100 to $120 per square foot to just $65 to $70 per square foot in Chester County, making it cheaper for companies to buy than rent and bringing a real estate boom to the area. Businesses are stepping in to take advantage of the boon cheaper prices…
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Buyer Steps Forward To Build Atwater Apartments
A second buyer of land at Malvern’s Atwater Corporate Center has stepped forward with plans for new residential construction. A chain of property transactions has resulted in a 13-acre plot sold for $12.5 million to Johnson Development for the new 300-unit Haven at Atwater apartments, according to a Philadelphia Business Journal report. Johnson Development bought from Reiser…
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West Bradford Snubs Developer, Picks Industrial Land For New Homes
West Bradford Township has a need for — and a state-mandated obligation to support — more than 1,000 new homes within its growing borders, but township supervisors would rather see their newest residents settle into an industrial area than accommodate a developer’s vision for Embreeville at the southern edge of the township, according to a…
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Land Purchases Push E. Kahn Development Into More Planning
A new round of planning for Eli Kahn’s next real estate project is now on his drawing board, even if the Downingtown developer doesn’t have a complete vision for the 50-plus acres he just paid $5.6 million for. “This is ground we had been trying to buy for a long time, and we’re not exactly…
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Township Officials Approve $85m Chesterbrook Shopping Center Redevelopment
By Lance Knickerbocker Tredyffrin officials last week approved an $85m plan to raze and resurrect the Chesterbrook Shopping Center. The new design from Goodwin Architects includes substantial mixed-use residential development and enlarged commercial spaces. Activity at the Chesterbrook Shopping Center declined over the last decade. According to a report in the Philadelphia Business Journal the…
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