Real Estate
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Liberty Property Trust Signs Leases With Zulily.Com, Lindt, Sprungli Chocolate
Industrial projects and leasing are both on the rise for Liberty Property Trust of Malvern. The company says it launched eight industrial projects totaling 2.2 million square feet so far its third quarter – a projected total investment of $150 million. Liberty also announced two large leases totaling 1.2 million square feet at Pennsylvania industrial…
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Liberty Property Trust Announces Retirement Of COO
Robert E. Fenza is retiring as chief operating officer of Liberty Property Trust in Malvern. “For thirty years, Rob has been uniquely dedicated to making Liberty a better developer, a better operator, a better corporate citizen, a better company,” said Bill Hankowsky, chairman and chief executive officer. “He has instilled in the organization a unique…
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Exton Developer Hankin Group Salvage Idle Downingtown School Land
The Hankin Group of Exton, developer of the Eagleview Community and the newly opened Hilton Garden Spot on Route 100 in Lionville (above), has stepped up to salvage a Downingtown Area School District investment that has sat idle for nearly a decade. Though it will initially receive slightly more than half of the $22 million it paid…
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Longtime Liberty Property Trust COO’s Next Big Deal Is Retirement
An entire horizon of new developments awaits 30-year Liberty Property Trust leader Robert Fenza, who has set his sights on expanding public service engagements following his end-of-year retirement from the Malvern-headquartered real estate company. “For thirty years, Rob has been uniquely dedicated to making Liberty a better developer, a better operator, a better corporate citizen, a…
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Hankin Group’s New 162-Apartment Luxury Senior Living Destination Rising In Eagleview
A new destination for luxurious living is rising in Eagleview. Exton real estate developer Hankin Group has slated its newest active senior community, branded Meridian at Eagleview, for a summer 2016 opening. The project features 162 luxury apartment residences in a five-story facility, with each apartment accommodating one or two bedrooms in 880 to 1,575 square…
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PREIT Announces Sale Of Yet Another Retail Property
In another move to shear from its portfolio properties that are not top performers, Pennsylvania Real Estate Investment Trust (PREIT) – parent company of the Exton Square Mall – announced it is selling the anchor pad under a Bon-Ton store in Bethlehem, next to the Westgate Mall. The Morning Call is reporting this doesn’t mean…
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PREIT Will Sell Nittany And North Hanover Malls
Philadelphia-based Pennsylvania Real Estate Investment Trust, owner of the Exton Square Mall, has announced the imminent sale of its Nittany and North Hanover Malls. While PREIT did not disclose the buyer or purchase price, it did say a buyer has made a non-refundable deposit and that the sale should close by the end of the…
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Exton Mall Parent Company PREIT To Redevelop The Gallery With Macerich Company
PREIT, parent company of the Exton Square Mall, said July 29 its net operating income improved by 3.1 percent during the second quarter of 2014 and that its funds from operations increased by 11.9 percent. PREIT said its year-to-date leasing volume increased by 83 percent. The full financial report is here. PREIT and the Macerich…
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Cubesmart Earns Industry Best Customer Service Award
CubeSmart of Malvern, one of the nation’s top owner/operators of self-storage facilities, has earned the Best Customer Service award from Inside Self-Storage Magazine’s 2014 Best of Business reader choice poll. Inside Self-Storage is a leading critical magazine and web information source for self-storage owners, managers, investors and developers. CubeSmart was also recognized in 2013 and…
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Liberty Property Trust Names Erin Plourde Vice President Of Acquisitions
Liberty Property Trust of Malvern has appointed Erin Plourde vice president of acquisitions. “During the last decade, Erin has played a key role in identifying and analyzing potential acquisitions and dispositions and is a true asset to Liberty,” said Mike Hagan, executive vice president and chief investment officer at Liberty. Plourde, who was named director…
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Liberty Property Trust Brings Drugdev To King Of Prussia Area
DrugDev, an international firm that runs clinical trials, has leased a 31,000-square-foot office in Wayne from Liberty Property Trust. The third floor space at high-profile 1170 Devon Park Drive will be the new DrugDev U.S headquarters. Liberty Property Trust recently spent $2.5 million to renovate the building, which is visible from Route 202, near the…
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Liberty Property Trust Revises 2014 Financial Projections
MALVERN, PA – Liberty Property Trust announced Tuesday that reduced acquisitions, minor delays in starting developments and slower occupancy rates have caused it to be a bit more cautious in its financial projections for 2014. However, Bill Hankowsky, chairman and chief executive officer, said the revised projections are situational and not indicative of negative market…
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Hankin Group’s Patience Has Eagleview Soaring Toward Completion
An ambitious vision that took flight in 1985 is now coming in for a landing at Eagleview, with the opening of its new $18 million Hilton Garden Inn (above), the groundbreaking of a new $18 million apartment complex, and the remaining 16,320 square feet of a half-complete retail town center coming next year. For the…
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Exton Square Mall To Welcome F&F Fashions And Flormar Cosmetics
By the end of the year, two more retail businesses will be open at the Exton Square Mall, one of the coolest indoor places in the county this summer. F&F, an international fashion label that offers a broad range of affordable fashion for men, women and children will open this fall along with Flormar, which…
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Hankin Group Golf Event Will Benefit Handi-Crafters
Golfers interested in lending a hand to local people with disabilities are invited to join the Hankin Group and Bentley Systems as they host the 28th annual Hankin Invitational Golf Tournament on Oct. 6. Proceeds from the event, set for Whitford Country Club in Exton, will benefit Handi-Crafters in Thorndale. Handi-Crafters is one of the largest…
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Thomas O’Brien Is New LCOR President
Berwyn-based LCOR has appointed Thomas O’Brien president of the company, which has developed many high profile venues including 545 Madison Avenue in New York City. Effective July 1, O’Brien took over for Peter DiLullo, who is continuing in his role as chief executive officer until Dec. 31. DiLullo will then become chairman of the fully-integrated…
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Exton Square Mall Owner Announces Portfolio Changes
The parent company of the Exton Square Mall – the Pennsylvania Real Estate Investment Trust – says it is working toward shaping a higher-quality portfolio. PREIT just sold the South Mall in Allentown for $23.6 million and entered into an agreement of sale to shave from its portfolio the Nittany and North Hanover malls. The trust is…
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Malvern Firm Developing Philly’s Tallest Skyscraper
The towering Center City Comcast Center completed in 2008 just wasn’t enough. Now, to go with the gigantic strides Comcast is taking with its acquisition of Time Warner Cable and TV rights for the Olympics through 2032, the cable giant is planning an even taller tower for the Philly skyline — and Malvern-based Liberty Property…
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