MALVERN, PA-Since Sept. 30, the REIT has gained approximately 537,000 sf for an average of $111.73 per sf. One building is here; four are in Horsham, PA; three are in Maryland; the other in Virginia Beach.
HAVERFORD TWP., PA-In a unanimous vote, local commissioners named Goldenberg Group and Pohlig Builders exclusive developers of the 212-acre, former state hospital site here. Construction costs are expected to exceed $180 million.
YORK, PA-The locally based developer plans to renovate the 449,470-sf former food distribution center on North Sherman St. here into a multi-tenant property. The $5.7-million purchase price includes a 25-acre land parcel.
HARRISBURG, PA-A report shows that this state is at a comparative disadvantage with peer states on housing fronts such as multifamily rental stock, housing assistance and the proportion of income residents pay in rents.
KING OF PRUSSIA, PA-By increasing its stake in Kravco Investments and Kravco Co. from 18% to 80% and from 15% to 50%, respectively, the developer brings the 2.8-million-sf King of Prussia Mall into its portfolio.
PHILADELPHIA-The third-quarter industrial vacancy for the entire Philadelphia MSA dropped to 11.7%, down from 12.4% in the previous quarter, according to Cushman & Wakefield data. Available sublease space, however, increased slightly, impeding robust growth.
FAIRLESS HILLS, PA-In an eight-year lease valued at $2.9 million, the warehousing and delivery service provider expands by 50% at 270 and 290 Canal Rd. here. Endurance Real Estate Group owns the four-building industrial park.
PHILADELPHIA-Tower Investments sells 142,200-sf Columbus Crossing shopping center on Columbus Blvd., and the three adjacent River View Plazas I, II and III here, which total 246,800 sf, to the Port Washington, NY-based REIT.
PHILADELPHIA-While same store occupancy in the REIT's portfolio fell from 96.6% to 95%, compared with third-quarter 2002, new leases in previously leased space rose $6.13 per sf on average and renewals also inched up.
HARRISBURG, PA-In the largest land sale in the history of the Commonwealth, Realen Homes pays $10.5 million for the 104-acre former Bensalem Youth Development Center and dedicates 30 acres to open space.