Real Estate
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Local Investment Properties Sold Record Numbers Last Year; Specific ZIP Codes Proved Lucrative
Investment properties sold at record levels nationwide and in the Philadelphia metro area last year, with some areas in Chester County seeing more interest than others. Kevin Schaul and Jonathan O’Connell reported on the shopping trend for The Washington Post. In 2021, investors bought close to one in seven homes sold in the nation’s top…
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Berwyn-Based Real Estate Firm Sells Retail Center in Montco for $162 Million
A venture between Maryland’s Finmarc Management and KPR Centers of New York has bought Providence Town Center in Collegeville for $161.75 million, writes Natalie Kostelni for the Philadelphia Business Journal. The new owners are planning to revamp parts of the 760,000-square-foot retail center to attract more tenants and shoppers. The open-air retail property is situated…
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Renowned Rider in Steeplechase Community Transforms West Marlborough Rancher into Two-Story Farmhouse
A charming farmhouse with a modern riff in West Marlborough Township is the perfect home for Jacob and Kate Chalfin, writes Eileen Smith Dallabrida for The Hunt Magazine. Thanks to its open and expansive floorplan, the couple has ample room for gatherings with friends and family while also keeping an eye on their two exuberant…
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Malvern Bank House of the Week: Stylish Brick Colonial Tucked Away in Willistown Township
A brick colonial on a spectacular, wooded lot with five bedrooms and three and a half bathrooms is available for sale in Willistown Township. This well-appointed residence is nestled on a quiet cul-de-sac and offers both style and functionality. . . The home opens to a dramatic two-story foyer with hardwood floors and a turned…
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Taking a ‘Step in the Right Direction’ in Kennett Square: Construction of Townhouse Development Begins
Construction has commenced on a 53-unit townhouse development with a mixed-use building — called Kennett Pointe — on a 13-acre site in Kennett Square. Tara Smith opened the door on the details for the Daily Local News. Work is currently being done on the building that will house apartments and ground-floor retail space, with the…
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Malvern-Based Real Estate Developer Sells Building Leased to Amazon to Korean Pension Fund for $97 Million
Malvern-based E. Kahn Development has sold a 120,000-square-foot building leased to Amazon in Conshohocken to an undisclosed Korean pension fund for $97 million, writes Natalie Kostelni for the Philadelphia Business Journal. The price, at approximately $808 per square foot, sets another high-water market on a per-square-foot basis for the sale of industrial real estate in…
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Apartment Complex Being Built on Swedesford Road Offers Perks for Renters as Well as Tredyffrin Residents
A lot is happening on Swedesford Road in Tredyffrin Township, writes Caroline O’Halloran for SAVVY Main Line. The construction of the still-unnamed, 250-unit apartment complex is progressing well, with the old HH Gregg building already out of the picture and work starting on its replacement. Bozzuto Development is “currently targeting” a spring/summer 2023 opening for…
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With Unmatched Infrastructure, This Former Bank in West Chester Ready for the Borough’s Next Great Restaurant
Pillar Real Estate Advisors has listed a unique property, the future location of a restaurant that will be in a class of its own, in downtown West Chester. Formerly the prestigious First National Bank of West Chester, this 14,000-square-foot space offers unmatched opportunity. It features multiple levels, grandiose ceiling height in the main room, large brick archways,…
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Kendal Corporation Leaving Kennett Square for Delaware. Here’s Why
The Kendal Corporation plans to leave Kennett Square and relocate its headquarters to the new FinTech building on the STAR (Science, Technology, and Advanced Research) Campus of the University of Delaware. The nonprofit is a senior-housing advocate. Matt Hooke boxed up the migration’s motivators for the Newark Post. According to CEO Sean Kelly, one of…
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Malvern Bank House of the Week: Sprawling Estate in Malvern
A remarkable estate on 2.4 tranquil acres with eight bedrooms and four and a half bathrooms is available for sale in Malvern. . . The home welcomes you with a large foyer ending in floor-to-ceiling windows that let in plenty of natural light. The spacious formal living room on the left boasts a gas fireplace,…
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Dual Apartment Projects Light More Fuses in Phoenixville’s Real Estate Boom
Wilmington-based Capano Residential is developing two apartment projects totaling $70 million in Phoenixville. The projects mark the firm’s entry into the Pennsylvania multifamily market, writes Natalie Kostelni for the Philadelphia Business Journal. Phoenixville has experienced a surge in apartment development in the past five years, with 724 new apartments coming online and 1,132 apartments gaining…
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Family Seeks Approval for a Grape Idea: Vineyard, Tasting Room in Penn Township
Pallares Family Holdings is asking for approval from Penn Township’s Board of Supervisors to operate a vineyard and tasting room on the property located at 377 and 378 Hood Lane. Steven Hoffman uncorked the reasoning behind the request for the Chester County Press. According to Enrique Pallares, the plan is for family members to live…
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Neighbors Continue to Sow Seeds of Discontent in Malvern Couple’s Wildflower Farm
When Ryan and Lori Heenan bought a property on Castlebar Lane in Malvern seven years ago, they had no idea how controversial it would soon become. Davis Giangiulio dug up the particulars for Main Line Tonight. The couple brought a dilapidated barn on the property back into shape and began holding family events there, including…
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Builder Eli Kahn Plans Apartment Complex for Former Rubinstein’s Site in West Chester
Builder Eli Kahn is planning to construct an apartment complex on the former site of office supply and furniture store Rubinstein’s in West Chester, writes Bill Rettew for the Daily Local News. Kahn submitted plans to the borough to demolish the buildings currently standing on the site and develop a 60-foot-tall structure that would have…
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Area Tenants Seek — and Willingly Pay for — Apartment Upgrades of Soundproof Walls and Fitness Centers
As new communities continue to be added throughout the region, developers are trying to decide which apartment upgrades they need to include to best attract renters, writes Michaelle Bond for The Philadelphia Inquirer. According to a new survey from the National Multifamily Housing Council and Grace Hill, preferences among renters in the Philadelphia area mostly…
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Malvern Bank House of the Week: All-Stone Farmhouse in Malvern One of Radnor Hunt’s Original Properties
An all-stone farmhouse with five bedrooms and four and a half bathrooms is available for sale in Malvern. . . This iconic residence is one of the original properties of the Radnor Hunt. It offers ultimate privacy and deep appreciation for nature on its 4.2 acres, along with custom finishes and the appointments characteristic of…
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Report: Chester County Has the Lowest Closing Costs in the State
Closing costs are one of the key aspects of buying a home, which puts Chester County in a preferential position for homebuyers. According to a SmartAsset analysis, the county has the lowest closing costs related to home sales in the state. To evaluate this home-selling expense, the study measured it as a percentage of median…
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Suburban Office Market Wraps Up 2021 with One of Strongest Quarters in Past Two Years
The suburban office market ended 2021 with one of the strongest quarters for the past two years, which helped further stabilize it. Natalie Kostelni unlocked the performance metrics for the Philadelphia Business Journal. “Clients are looking at taking less space and investing more in that space,” said Les Haggett of CBRE Group, the Dallas-based real…
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