Four Philadelphia based industry heavyweights cited unfavorable tax policy, the crumbling public school system in Philadelphia, political inertia, and lack of job growth as reasons why commercial development has eluded the Center City area.

PHILADELPHIA, PA—The 24-hour city, envisioned two decades ago as “the key to superior investment performance,” is coming to fruition and spreading to downtown districts far beyond the traditional coastal, urban core cities, according to the latest Emerging Trends in Real Estate, an annual report prepared by PriceWaterhouseCoopers and the Urban Land Institute. PWC and ULI briefed the Philadelphia commercial real estate community on the 2015 report at a morning seminar in Philadelphia November 21.

JACKSON, NJ—Two real estate parcels totaling 355 acres in Ocean County, NJ's Jackson Township – fully approved for 902 age restricted homes -- are scheduled to be offered at auction on December 17th, 2014 by Madison Hawk, which specializes in Structured Accelerated Sales.

NEWARK, NJ—Cassidy Turley will exclusively market and lease 896 Frelinghuysen Avenue, an 82,360 square foot industrial facility, for its owner, CenterPoint Properties.

SHIPPENSBURG, PA—ARC Real Estate Group, a private, New York-based family office, acquired a 139,535-square-foot, single-tenant, triple net-leased retail property fully occupied by Lowe's Home Improvement at 250 S. Conestoga Dr. in Shippensburg, PA for $24.35 million.

WASHINGTON, DC—Fundrise creates a platform giving access to capital for smaller CRE investors and projects.

EAST MANCHESTER TOWNSHIP, PA—Texas-basedHillwood Investment Properties has acquired a 95-acre tract in East Manchester Township, York County, PA within the township's Industrial Zoning District. The site is approved for a 1.2-million-square-foot class A industrial building which Hillwood plans to build on a speculative basis.

LAKEWOOD, NJ–HFF has closed the sale of a 74,400-square-foot industrial flex facility in Lakewood, NJ.