Real Estate
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$39M Debt Sends Rosetree Office Complex in Media Into Receivership
The 268,000-square-foot Rosetree office complex in Media has been sent to receivership, with the property holding more than $39 million in debt, writes Paul Schwedelson for the Philadelphia Business Journal. The two-building property at 1400 N. Providence Road, owned by an entity affiliated with Keystone, became the subject of foreclosure after the owner missed the…
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West Chester Eagles Legend Brent Celek Brings His Real Estate Team to Keller Williams
Brent Celek, the former Eagles star who now lives in West Chester, has brought his real estate team to Keller Williams in what he calls a “natural next step,” writes Ryan Mulligan for the Philadelphia Business Journal. Brent Celek Real Estate, previously independent, will now join the nation’s largest brokerage at its Media office. Celek, a former tight end…
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Former Plymouth Meeting Hotel Cleared for Apartment Conversion
A long-vacant hotel in Plymouth Meeting is one step closer to a new life, writes Emma Dooling for The Philadelphia Business Journal. Plymouth Township’s Zoning Hearing Board voted 3-1 to approve plans to convert the former DoubleTree Suites by Hilton Hotel Philadelphia West into 213 apartments. The six-story property at 640 Fountain Road, which closed…
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Lambertville Couple Transforms Neglected Cape Cod Into Modern Rancher
When their 1895 rowhouse began feeling too cramped, Lambertville couple Lauren Braun-Strumfels and Kyle Strumfels purchased a neglected 1970s Cape Cod, eager to transform it into their dream home, writes Zoe Rosenberg for The Philadelphia Inquirer. “With the rowhouse, there were certain things that we just wouldn’t want to do to it, historically, to preserve…
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Greater Philadelphia Tops National Housing Market Price Growth in January
Greater Philadelphia saw the strongest home price growth among 40 major metro areas in January, with prices rising 8.6 percent year over year, writes Ryan Mulligan for the Philadelphia Business Journal. In January, the region’s median home price increased to $380,000, up from $350,000 a year earlier. According to a recent report from Homes.com, this…
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Former Landhope Dairy Farm in Kennett Square to Become New Wedding Venue
Jeffrey A. Miller Hospitality Group is partnering with the owners of the former Landhope dairy farm on a $6 million adaptive reuse project to transform the site into a new wedding and event destination in Kennett Square, writes Emma Dooling for the Philadelphia Business Journal. Named Willowdale, the new event space is slated to open…
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Former Exton Office Building Converted into 32-Unit Apartment Building
A vacant office building in Exton has been redeveloped into a suburban rarity, an apartment building with 24 studio units and eight single-bedroom apartments, writes Joseph N. DiStefano for The Philadelphia Inquirer. Ownership of the building rests with a group led by local real estate lawyer David McFadden, broker John McGee, and investment partner Chiu Bai. The group hopes…
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Philly Homeowners Stay Put Longer, With Average Tenure Hitting 9.5 Years
Homeowners in Philadelphia are remaining in their homes longer than at any time in at least twenty years, with the average tenure now sitting at 9.5 years, write Mike D’Onofrio and Sami Sparber for AXIOS. In 2005, homeowners typically spent less than four years in their residences before deciding to move. These days, long tenure,…
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First Bank House of the Week: 1770s Colonial Expanded Farmhouse in Elverson
An attractive colonial farmhouse set on 3.9 acres with four bedrooms and three and a half bathrooms is available for sale in Elverson. . . This remarkable residence combines historic charm with modern elegance for a truly unique experience. Distinctive details include exposed beams, spiral staircases, wood or stone accents throughout, built-in cabinetry, and four wood-burning fireplaces that infuse character into…
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Fortune 10 HQ in Conshohocken Hits the Market — Fully Leased
A marquee property in Conshohocken is officially on the market, according to Paul Schwedelson for The Philadelphia Business Journal. The 429,000-square-foot headquarters of Cencora has been listed for sale by owner PRP Real Assets. The 11-story, Class-A office building at 1 W. First Ave. is fully leased to the Fortune 10 pharmaceutical giant, with 10…
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Newtown Rezones Corporate Campus Due to Empty Offices
A shift in how we work has created a lot of empty office space in Newtown Township. Most of the office buildings in the Newtown Square Corporate Campus are empty or up for lease and are lowering the tax rate tables as a result, writes Pete Bannan for the Daily Times. Newtown supervisors voted 4-1…
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Two Chester County Towns Rank Among Pennsylvania’s Most Competitive Housing Markets
Two Chester County boroughs rank among the most competitive housing markets in Pennsylvania according to a recent report from Stacker. In the evaluation, completed by Redfin Real Estate, West Chester and Phoenixville ranked among the state’s twenty most competitive markets. The two boroughs ranked sixteenth and eighteenth respectively. Redfin ranked Pennsylvania housing markets according to…
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Planned South Philadelphia Stadium District Development Project, Opposed By Many, Unravels
A major development in South Philadelphia’s stadium district, opposed by the Phillies, Eagles, and Comcast Spectacor, appears to have collapsed after the real estate partnership behind the project dissolved last summer, writes Jake Blumgart for The Philadelphia Inquirer. The project, which would have brought 1,367 residential units to the district, was unveiled in 2024 as…
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Conshohocken’s Morgan Properties Names New Co-CEOs
A major leadership transition is underway at Morgan Properties, as the Conshohocken-based multifamily real estate giant names Jonathan and Jason Morgan as co-Chief Executive Officers. The brothers have long helped steer the company’s strategy, investments and operations. The formal titles mark a new chapter for one of the nation’s largest private apartment owners. Founder Mitchell…
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Bucks County Housing Market in Nation’s Top 50 at Year-End 2025
One Bucks County housing market ranked among the top 50 nationwide in the fourth quarter of 2025, making it one of only two Greater Philadelphia housing markets to earn a spot, write Joanne Drilling and Ryan Mulligan for the Philadelphia Business Journal. The ranking highlights ZIP codes where market activity is surging, prices are climbing…
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First Bank House of the Week: Sustainable Space at Grist Mill Farm in Glenmoore
A stunning manor home called Grist Mill Farm on 25.9 acres with four bedrooms and three and a half bathrooms is available for sale in Glenmoore. . . This gorgeous property, known as Grist Mill Farm, combines historic charm with modern sophistication. Refined details inside the main home include cobblestone flooring, crown moulding, handcrafted built-ins, and…
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Toll Brothers’ Birch Run at New Britain Luxury Community Opens in Chalfont
Fort Washington-based Toll Brothers has opened Birch Run at New Britain, a luxury townhome community in Chalfont, with the first homes expected to be ready for spring move-in. Three-story, three-bedroom townhomes at the community will offer open-concept floor plans of more than 2,000 square feet, including flex rooms and two-car garages. Homebuyers can select quick…
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Germantown Friends School Buys Adjacent Historic Bank Building for $2M in Expansion Move
Germantown Friends School recently acquired a historic 11,000-square-foot building housing a Wells Fargo branch for $2.05 million, writes Ryan Mulligan for the Philadelphia Business Journal. The acquisition increases Germantown Friends School’s Philadelphia presence to nearly a full city block. The 94-year-old building, located at 5452-58 Germantown Avenue, occupies over an acre. The school currently has…
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