State: Pennsylvania - PA

Commercial Real Estate Direct Staff Report The value of the Montgomery Mall in suburban Philadelphia, which until June was owned by Simon Property Group, has declined to $57.5 million, based on an April appraisal. The 1.1 million-square-foot shopping center in ...

The Highlands Ranch, Colo., REIT has paid $115 million for the 320-unit Smith Valley Forge Apartments in King of Prussia, Pa. It funded the acquisition by tapping a line of credit, but expects to take that out with proceeds from ...

Commercial Observer PMC Property Group has secured $155 million of financing against the 331-unit Riverwalk apartment project in Philadelphia. New York Community Bank provided the loan, which has a 10-year term and a coupon of less than 3 percent. Meridian ...

Commercial Real Estate Direct Staff Report United Hampshire US REIT has agreed to pay $78.25 million for two grocery-anchored shopping centers with a combined 426,820 square feet in Pennsylvania and Virginia. The company, whose shares trade on the Singapore exchange, is ...

Philadelphia Business Journal A venture of Ajax Advisors and Brickman Associates has paid $33.5 million, or about $73.71/sf, for the 454,456-square-foot industrial building at 11200 Roosevelt Blvd. in Northeast Philadelphia. Ivy Realty of Greenwich, Conn., sold the property, which it ...

Philadelphia Business Journal GlaxoSmithKline plans on vacating the 207,779-square-foot office building at 4411 South Broad St. that it fully leases in Philadelphia. The pharmaceuticals company will occupy 46,000 sf at the FMC Tower, at 2929 Walnut St., also in Philadelphia. ...

Philadelphia Business Journal Faropoint has paid $75 million for 19 industrial buildings with a combined 904,000 square feet in Philadelphia and its suburbs. The portfolio includes 900 Kennedy Blvd., with 42,000 sf in Somerdale, N.J.; 7746 Dungan Road, with 71,060 ...

Philadelphia Business Journal Target Corp. has fully leased a 331,428-square-foot warehouse that is under development in the Philadelphia suburb of King of Prussia, Pa. Novaya Real Estate is constructing the property and expects to complete it by the end of ...

Philadelphia Business Journal A venture of Method Co. and Cimbra Partners has broken ground on a 142-unit apartment project in Philadelphia. The property, at 4300 Ridge Ave., will have 10,450 square feet of retail space. Pacific Western Bank provided $30 ...