Johnson, a SVP with CBRE's Philadelphia office, will be a leader at a roundtable discussion on Wednesday entitled "Practical Leasing Issues" along with co-leader Jeff Fisher of Federal Realty.
The Southern Park Mall, which is adjacent to DeBartolo Commons, is also undergoing some improvements that will include a new entertainment hub that will feature a 37,000-square-foot indoor golf entertainment center, additional entertainment uses and new food and beverage offerings.
The firm's "Bell Works" project, a 2 -million-square-foot redevelopment of the former Bell Labs' complex, reached a significant milestone with the latest lease deals—roughly 1 million square feet of office space at the complex is now leased.
The New Jersey companies that participate in the initiative will gain access to international partners and to research and development funds from an Israeli company and the Israel Innovation Authority.
The firm sold the two properties after expanding into new facilities, according to Newmark Knight Frank, which represented the seller in the transaction.
Rittenhouse Realty is marketing the property as a development opportunity to build 208 apartments (147,070 square feet) above the garage, which will be master leased to Sonder Inc.
"Furthermore, we expect to be able to take advantage of our heavy lease expiration cadence over the next couple of years, to close underperforming stores or relocate stores to improve sales and profitability on a per-store basis," the shareholder letter states.