PLYMOUTH MEETING, PA-With the disposition of Century Village administration building in West Palm Beach, FL and Hillcrest Mall in Phillipsburg, NJ, the locally based trust realizes net proceeds of $8.9 million. In selling these non-core assets, Kramont narrows its focus.
PHILADELPHIA-In October, a quartet of internationally renowned architects, chosen from a field of 40, will present proposals for the renovation and addition of 180,000 sf of space at the Free Library's flagship.
HAVERFORD TWP., PA-Despite the restrictive covenants on development of the tract, eight firms based in suburban-Philadelphia and one from Baltimore present plans to the public this week.
WEST NORRITON, PA-On a sublease with 13 years remaining, the new grocery anchor is installing one of its 64,000-sf, expanded-format stores at the 95,000-sf shopping center. Brokers estimate the rental rate is between $10 and 12 per sf.
PHILADELPHIA-The Seattle-based software giant will infuse a 700-student "school of the future" with advanced technology. Systems include a 100%-online curriculum and extend to operational and administrative functions.
KING OF PRUSSIA, PA-The telecom provider inks a lease for the entire three-story building at 2100 Renaissance Blvd. Lease terms are undisclosed. Three suburban brokers concur; the rate is probably between $23 and $25.50 per sf.
PHILADELPHIA-The portfolio encompasses 722 apartment units in three states. College Park Communities joint-ventured with BPG in the acquisition and will operate the properties.
QUAKERTOWN, PA-When the discount store opens next month, it joins Staples and Sears Hardware and takes occupancy at the 220,000-sf shopping center to above 85%. Area brokers say the rental rate is probably "a little under $10 per sf.
PHILADELPHIA-A local private partnership pays approximately $66,154 a unit for the portfolio of properties, all near Rittenhouse Square, that includes 65 studio and one-bedroom, fully rented apartments.
SCRANTON, PA-In separate transactions, the King of Prussia, PA-based developer pays $5.5 million for a 336,700-sf former Corning plant in Benton Park and less than $1 million for the 168,000-sf Connell Building. Both need work. Renovating Connell will take up to $12 million.