Real Estate
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Philadelphia Among Top 10 Metros with Most Active, Anchored-Retail CMBS Debt
Malls across the country are continuing to struggle as many retailers continue to shift away from brick-and-mortar to strengthen their online presence. In as they leave vacant space, they raise fears about the future of this American institution. Ashley Fahey covered one of its most telling bellwethers, commercial mortgage-backed securities (CMBS) debt, for the Philadelphia…
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European Flair Abounds in This Tudor-Style Manor That Just Hit the Market in Malvern
A replica of a 1950s- or 1960s-style Tudor manor built in 1976 and extensively renovated in 2013 and 2014 has hit the market in Malvern for $2.75 million, writes Kennedy Rose for the Philadelphia Business Journal. The custom home — with four bedrooms and four and a half bathrooms on a four-acre lot — stands…
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Philadelphia-Area Housing Report: Has the Market Boom’s Bubble Popped?
According to the Philadelphia-Area Housing Report, residential real estate sales in the Philadelphia area continued to drop in October. The “unusually strong activity” of 2020 may be tailing off, writes Kennedy Rose for the Philadelphia Business Journal. Transactions, as measured by closings, is cooling in Philadelphia, Bucks, Delaware, and Montgomery Counties. Data provided by MarketStats…
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‘Happy Days’ May Not Be ‘Here Again’ as 240-Acre Property in Exton Sells to Developer
Audubon Land Development has purchased Happy Days Farm in Exton from Nelson Realty Trust, an entity affiliated with Vanguard, for $18.1 million, writes Natalie Kostelni for the Philadelphia Business Journal. The roughly 240-acre property fronts the Pennsylvania Turnpike and Route 100. The Uwchlan planning commission has already given a green light to Audubon Land’s plan…
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Malvern Bank House of the Week: Restored Log Cabin with Extensive Additions in Malvern
A restored log cabin with extensive additions that features four bedrooms and three and a half bathrooms is available for sale in Malvern. Known as the Hopper House, the residence was originally built circa 1827. The restoration and expansions made retained the original character while adding the amenities of modern living. . . The home,…
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West Chester Couple an Example of How Animals Affect the Real Estate Decisions of Pet Owners
Mindy Rhodes and John Braxton considered Spike’s needs when searching for an area home six years ago. The six-acre site they found in West Chester was perfect for him. Spike is not their child; he’s a horse. And his influence on their real estate purchase is becoming a widespread trend, reports Cynthia Henry for The…
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Oakwood Manor Apartments, Phoenixville, Sells; New Owners Plan Extensive Renovations
Oakwood Manor Apartments, 1017 West Bridge Street near downtown Phoenixville has been sold. Rittenhouse Realty Advisors (RRA), a Philadelphia commercial real estate sales brokerage firm, oversaw the transaction. The complex comprises 95 one- and two-bedroom apartments. Robert DiPasquale, RRA senior associated who worked on the transaction, stated: “Pricing is at an all-time high with interest…
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Malvern Bank House of the Week: Chadds Ford Home Definitely Requires a Bathrobe for That Midnight Kitchen Run
The contemporary style of 121 Bullock Rd, Chadds Ford, features so many windows (one is 15-feet high) that owners may want to ensure they’re covered up before wandering around. The surrounding landscape provides privacy, but still… there’s always the Amazon guy coming up the walk. . . The entryway sets a bright and airy tone…
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Philadelphia-Area Gen Z on Homeownership: ‘Eh… Not Now’
Gen Z homeownership in the Philadelphia region has a generally positive outlook among its late-teen, early 20s members. However, it doesn’t seem to be a tangible goal many are working on currently. Lilla Szini, Chris Salviati, and Rob Warnock reported the trending hesitancy for the Apartment List. The tepid interest in purchasing or renting a…
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Former QVC CEO Puts Georgian-Style Malvern Estate on the Market for $2.95M
Last week Doug Briggs, former CEO of Malvern-based QVC, put his estate on the market, with an asking price of $2.95 million. Kennedy Rose, for the Philadelphia Business Journal, profiled the Malvern property, with its movie theater, huge wine cellar, and stately exterior. The home, built in 1990, features five bedrooms and seven full and…
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For Landenberg Couple, Leaving Their Frank Lloyd Wright-Inspired Home a Bittersweet Experience
For architect Donald Dunham and classics professor Annette Giesecke, leaving their Frank Lloyd Wright-inspired home in Landenberg after two decades is a bittersweet experience, writes Drew Limsky for Main Line Today. The couple put their souls into the house. They were so committed to its look and style that they lived in a trailer on…
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West Chester Couple Transforms 1830s Bank Barn: ‘Living in a Very Old Home Not for the Faint of Heart’
In 2016, when Adam Travetti and Laura Botto first saw the 1830s bank barn in West Chester, they immediately fell in love with the home. They knew immediately it would be the ideal place to raise their son, Keating, writes Terri Akman for The Philadelphia Inquirer. The structure, however, needed extensive work. The couple hired…
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Vanguard Again Spreads Its Wings, Expands to Delco
Vanguard has leased an office building at the Ellis Preserve in Newtown Square and is looking for more space in the suburbs to continue its expansion, writes Natalie Kostelni for the Philadelphia Business Journal. “Vanguard routinely evaluates its real estate portfolio, ensuring our office space and locations fit the current and future needs of our…
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Malvern Bank House of the Week: Stately Residence on 17 Exquisite Acres in Berwyn
A stately residence with five bedrooms and four full and four half bathrooms is available for sale in Berwyn. . . This 17-acre estate is perfectly situated on the eighth hole of Waynesborough Golf Club and provides year-round course views. . . Inside, the many highlights include a living room with fireplace and cozy window…
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Mixed-Use Community on 210 Acres the Final Phase of Ellis Preserve Development
Equus Capital Partners is developing a $140 million, multifamily project at the Ellis Preserve in Newtown Square, writes Natalie Kostelni for the Philadelphia Business Journal. The hope is to find renters willing to pay for a variety of amenities and high-end finishes normally found in a five-star hotel. A mixed-use community on 210 acres, The…
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Robust Demand, Hotly Contested Bidding Process for Berwyn Complex ‘a Major Statement for Office Properties’
Accesso Partners, a Florida-based real estate company, has purchased Westlakes, an office park in Berwyn, from Keystone Property Group for $135 million, writes Natalie Kostelni for the Philadelphia Business Journal. The 455,183-square-foot, four-building complex set on 40 acres was 92 percent occupied at the time of the sale. Tenants include PNC Bank, Brinker Capital, Montgomery…
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As Apartment Rent Rates Rise Nationwide, How Bad Is It for Tenants Here?
While the past 18 months have ushered in an unprecedented sellers’ housing market nationwide, apartment rent rates have also followed the upward trend. Ashley Fahey and Ryan Mulligan covered the local impact for The Philadelphia Business Journal. According to an analysis of RealPage data by The Philadelphia Business Journal, rents among 50 of the nation’s…
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Stretch of Swedesford Road in Tredyffrin Township Now a Coveted Submarket as Building Sells for $42 Million
An affiliate of Life Time Group Holdings sold its 150,000-square-foot building in Tredyffrin Township to a New York firm. Natalie Kostelni reported the $42 million transaction for the Philadelphia Business Journal. Pan Am Equities bought the nearly 15-acre property, located off Swedesford Road at Old Eagle School Road. The facility is often identified as a…
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