PHILADELPHIA— Here is a summary of some transactions and other developments that happened recently in the Philadelphia market. Financings
PHILADELPHIA—Colliers International Capital Markets arranged $24 million of debt for the acquisition and redevelopment of the former West Philadelphia High School at 4700 Walnut Street. The 442,200-square-foot, four story building will be converted to a 298-unit multifamily property. Kristopher Wood and John Banas, both senior vice presidents/directors in CICM's Philadelphia office, arranged the loan.
Openings
BRYN MAWR, MALVERN, AND PHILADELPHIA—Bryn + Dane's, Bryn Mawr Village, 915-925 West Lancaster Ave., Bryn Mawr, PA; Atwater South, Route 29 and Atwater Drive, Malvern, PA Th e Franklin, 834 Chestnut Street, Philadelphia PA. Metro Commercial Real Estate's Glenn Marvin Pat Gallagher Bryn + Dane's
Leases
PHILADELPHIA—Sakura Japanese Restaurant has leased 4,000 square feet at Morrell Plaza in Philadelphia, becoming the latest restaurant to join the tenant mix at this 103,250-square foot shopping destination. Located directly on Frankford Avenue/Route 13, Morrell Plaza is exclusively leased and managed by North Plainfield, N.J.-based Levin Management. Barry Borsky, Levin's leasing representative, negotiated the long-term lease. Jamie Weiner of Delphi Properties represented the tenant in the transaction.
MT. LAUREL, NJ—NAI Mertz recently completed a 2,875-square-foot lease for Pediatric Dentistry of Mullica Hill at Tomlin Station Commerce Center in Mullica Hill, NJ. The NAI Mertz team of Rebecca Ting, SIOR, vice president, and John Brown, broker associate, were the sole brokers in this transaction.
Executive Moves
SOUTHAMPTON, PA—NAI Mertz named Lisa Madzin and Joe Sternberg, Esq. sales associates in o its Southampton, PA office. Madzin joins NAI Mertz from SSH Real Estate, where she specialized in tenant and landlord representation. Sternberg brings an extensive background in commercial real estate sales and litigation. Previously, he was the leasing director for Vineland Construction Company. He also served as vice president and general counsel for Moyco Technologies, and was an associate attorney at the law firm of Robinson, Greenberg & Lipman.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
