PHILADELPHIA-Year-to-date office leasing activity in the CBD was approximately 50% below first-half 2002, according to Trammell Crow data. Net absorption for the first half dropped to negative 27,568 sf, down from more than a million sf in first-half 2002.
WEST CHESTER, PA-The company will occupy 100% of the 102,360-sf office/lab/warehouse facility at 200 Lawrence Drive here, owned by Berwind Property Group, for
PHILADELPHIA-Pete Ciarrocchi, the locally based restaurateur, sets up his fourth area seafood restaurant in the former 24,000-sf Super Fresh building on Packer Avenue in the stadium district. Land acquisition and renovation into a 750-seat eatery cost an estimated $2.2 million.
PHILADELPHIA-A slight drop in overall vacancy from 14% to 13.5% in second quarter combines with a dramatic improvement in net absorption this year to signal an "extremely positive" outlook, according to research from Cushman & Wakefield of Pennsylvania.
PHILADELPHIA-The 910,000-sf, two-story processing and distribution center will rise on 70 acres in the Eastwick section of south Philly and replace the existing center across from Amtrak's 30th Street Station. The University of Pennsylvania has its eye on that property.
PHILADELPHIA-The hitch is: PIDC's plan for the vacant, nearly 100-year-old mental institution that has become a popular Halloween haunt, must be community approved by mid-January or the state gets it back. Cleanup and building demolition will cost $15 million.