Commercial Real Estate
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Vanguard Ditches Malvern Office Lease, Cutting Building Occupancy to 36 Percent
Vanguard is walking away from 87,600 square feet of office space in Malvern, a move that will send one building’s occupancy from 100 percent to 36 percent, reports Paul Schwedelson for the Philadelphia Business Journal. The investment giant’s lease at 45 Liberty Blvd. in the Great Valley Corporate Center expires at the end of June, and Vanguard informed landlord FLD Group that it won’t…
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Embassy Suites Near Philadelphia Airport Listed for Sale As Investors Eye 2026 Event Boom
A well-known all-suite hotel steps from Philadelphia International Airport has hit the market, and the timing is no coincidence. The Embassy Suites by Hilton Philadelphia Airport, a 263-room property at 9000 Bartram Ave., is being offered for sale as investors look to cash in on what could be one of the most lucrative stretches in…
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263-Room Philadelphia Airport Hotel for Sale: Embassy Suites Lists at $40M Appraisal
A familiar name near Philadelphia International Airport could soon be under new ownership. The 263-room Embassy Suites by Hilton Philadelphia Airport at 9000 Bartram Ave. has been put up for sale by Dallas-based Ashford Hospitality Trust, a move that would mark the company’s exit from the Greater Philadelphia market, according to Emma Dooling of the…
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Former Adult Entertainment Venue in South Philly Sold for $2.3 Million, Will Be Repurposed
Show & Tel, an adult entertainment club in South Philadelphia that had been open since the 1990s, has been closed and will soon be repurposed, writes Michael Tanenbaum for PhillyVoice. The 32,000-square-foot property was sold for $2.3 million and will be redeveloped as a storage facility and office space. The property was listed for $3.5…
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Why Markets Like King of Prussia Are Winning: A CEO’s Guide to Location Strategy
CEOs today are navigating a moment defined by competing pressures – remote work, hybrid expectations and a narrow talent market. Many are sitting on large footprints of underutilized office space – an issue playing out across the country – while simultaneously trying to position themselves near the workforce they need to stay competitive. Today’s leaders…
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Crystal Tea Room in Center City Secures Its Future With Finley Catering’s Long-Term Lease
The future of Philadelphia’s iconic Crystal Tea Room appears secure for decades to come, as Finley Catering has reaffirmed its commitment to the historic venue by signing a new long-term lease in the Wanamaker Building, writes Paul Schwedelson for the Philadelphia Business Journal. The new 29-year agreement extends Finley Catering’s presence at the Crystal Tea…
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From Dead Mall to Town Center: The Plan to Reimagine Neshaminy Mall in Bensalem
For generations of Bucks County residents, Neshaminy Mall was more than a shopping center. It was where people saw movies, wandered the food court, bought back-to-school clothes, and spent Friday nights during the height of the suburban mall era. Now, the future of the Bensalem property appears headed in a much different direction. In July…
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North Philadelphia’s Long-Vacant Budd Plant Could Be Transformed Under New Rezoning Plan
A massive, long-dormant industrial complex in North Philadelphia may finally be getting a second life, and the vision for it is an ambitious one. City Councilmember Curtis Jones Jr. has introduced legislation to rezone the former Budd Company plant in the Nicetown-Tioga neighborhood, opening the door to residential, mixed-use, and commercial development alongside life sciences…
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Historic Boyd Theatre Marquee At Risk As Owner Seeks to Modernize Philadelphia Landmark
The Boyd Theatre has survived closure, a preservation battle, and the demolition of most of its auditorium, but now its iconic marquee may be next to go. Pearl Properties, which owns Philadelphia’s last great downtown movie palace, wants to remove the theater-style marquee and modernize the recessed storefront, writes Jake Blumgart for The Philadelphia Inquirer.…
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Archdiocese of Philadelphia to Relocate from Headquarters After More Than 50 Years
The Archdiocese of Philadelphia will be moving from its headquarters of more than a half-century early next year, writes Paul Schwedelson for the Philadelphia Business Journal. The Archdiocese just recently signed a new long-term lease for 80,000 square feet at the Three Parkway building in Philadelphia. The new location is just a block away from…
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Chubb’s New $380 Million Center City Office Tower Is Redefining the Future of Office Work
Chubb’s new 348,000-square-foot tower at 2000 Arch Street represents more than just a new headquarters, but rather offers a glimpse into the future of Philadelphia’s office market and Center City development, writes Paul Schwedelson for the Philadelphia Business Journal. The 18-story, LEED Platinum-certified tower is part of a roughly $380 million investment that will bring…
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Tastykake’s Navy Yard Headquarters Sold to Salt Lake City-Based Investment Firm in $87M Deal
Tastykake’s headquarters at the Philadelphia Navy Yard has been sold to Salt Lake City-based Bridge Investment Group, writes Paul Schwedelson for the Philadelphia Business Journal. Prologis, the logistics real estate firm that had owned the 345,500-square-foot property since 2020 after a merger with Liberty Property Trust, sold the building in a $87 million deal. The…
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How Fort Washington’s Toll Brothers Is Thriving in a Tough Housing Market
Fort Washington’s Toll Brothers found the sweet spot in a tough housing market, writes Ryan Mulligan for The Philadelphia Business Journal. As new home sales slow nationally, major homebuilders are pivoting toward active adult communities. Toll Brothers is leading the charge through its Regency brand. Regency communities are built around lifestyle. Clubhouses, pickleball courts, fitness…
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High-Profile Real Estate Developer to Acquire Franklin Mall, Major Redevelopment Planned
Months after being placed on the market, Franklin Mall in Northeast Philadelphia will soon be acquired, writes Paul Schwedelson for the Philadelphia Business Journal. Dean Adler, the high-profile real estate developer is currently under contract to acquire the sprawling mall property and is planning a major transformation project for it. More specifically, Adler plans to…
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Developers Bet Big on Horsham With Major Luxury Apartment Community
After years of planning, a major luxury apartment project is finally moving forward in Horsham Township, writes Paul Schwedelson for The Philadelphia Business Journal. Developers are breaking ground on AVE Horsham. The 274-unit apartment community is planned for the former Telerx call center site at 723 Dresher Road. The project is being developed through a…
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Lindsey Scannapieco Successfully Transformed the Bok Building, She’s Now Eyeing Broad Street
Within two years of acquiring the Bok Building in 2015, developer Lindsey Scannapieco had a moment when she overheard a group of people raving about her work transforming the shuttered high school. The former South Philadelphia high school is now a collaborative workspace for several local artists, makers, small businesses, and nonprofits with a rooftop…
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Bill Gates-Founded Nuclear Company to Build $450 Million Cancer Treatment Plant in Bellwether District
TerraPower Isotopes, part of a nuclear power company founded by Bill Gates, will invest $450 million in a Bellwether District plant that will produce radioactive molecules for cancer research and treatments, writes Harold Brubaker for The Philadelphia Inquirer. As part of the Bellwether District development, HRP Group will build a 250,000-square-foot facility on the former…
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Sale of Flats at Lansdale Tops Regional Averages, Signals Strong Demand
A major apartment complex in Lansdale has changed hands, underscoring the strength of Montgomery County’s rental market, writes Paul Schwedelson for The Philadelphia Business Journal. New York-based DRA Advisors has acquired Flats at Lansdale, a 180-unit community located along Towamencin Avenue, for $58 million. The purchase marks the firm’s first multifamily investment in Pennsylvania. The…
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