PHILADELPHIA-If the Kmart lease at the Plymouth Meeting, PA-based REIT's Manchester, CT, property is rejected, the dent in Kramont's annual rental revenues would be limited to three-tenths of 1%. Its seven Kmarts represent 3% of the REIT's annual minimum rents.
PHILADELPHIA-With the proceeds of the tax-exempt bonds, issued by the state economic development financing authority, BPG will develop a nine-story, 1,525-vehicle parking garage on part of a 50-acre Keystone Opportunity Zone, adjacent to Brandywine Realty's planned Circa Centre office tower.
PHILADELPHIA-In its fourth transaction in as many months, Jenkintown, PA-based American Financial Realty Trust acquired an aggregate 3.7 million sf for an average of $91.35 per sf. Bank of America leased the 14 properties in seven states through June 2022.
PHILADELPHIA-The West Chester, PA-based construction management, general contracting and design/build firm restructures to devote specialists to each of three types of facilities: healthcare; commercial, including suburban office buildings; and warehouse/distribution, which includes light industrial and chain store retail projects.
PHILADELPHIA-Regional offices of two subsidiaries of Bellevue, WA-based Paccar Inc., Paccar Financial Corp. and Peterbilt Motors Co. consolidate in 9,500 sf at Pennsylvania Business Center on Gibraltar Road in Horsham. One exits another Horsham facility; Peterbilt moves from Kulpsville, PA.
PHILADELPHIA-The West Chester, PA-based environment and development firm's five-year contract to upgrade infrastructure at military installations worldwide follows a $120-million contract from the Navy to perform similar upgrades at Navy and Marine Corps installations in 10 Western states.
PHILADELPHIA-By Memorial Day, the rapidly expanding warehouse grocer will open in the space at the strip center in Phoenixville, PA that was vacated last March by the Ames department store chain. Plymouth Meeting, PA-based Kramont Realty Trust recently renovated the 177,000-sf property.
PHILADELPHIA-By Memorial Day, the rapidly expanding warehouse grocer will open in the space at the strip center in Phoenixville, PA that was vacated last March by the Ames department store chain. Plymouth Meeting, PA-based Kramont Realty Trust recently renovated the 177,000-sf property.
PHILADELPHIA-The Pasadena, CA-based gourmet grocer leases 10,000 sf on the ground floor of 2121 Market St. for a March opening. Citizens Bank adds a 2,896-sf retail branch at Two Commerce Square, and Cort Furniture Rental renews 5,000 sf there.
PHILADELPHIA-William Russell, a 20-year real estate veteran, moves from Wilmington, DE-based WRR3 Realty Corp. to Smith Mack's investment sales division, based in Wayne, PA. The Philadelphia Chamber of Commerce presents