PHILADELPHIA—Holliday Fenoglio Fowler is marketing for sale a two-property, 86,000-square-foot medical office portfolio anchored by Thomas Jefferson University Hospital.
NEW PROVIDENCE, NJ—Bergman Real Estate Group has sold 121 Chanlon Road in New Providence. Cushman & Wakefield's Metropolitan Area Capital Markets Group arranged the property's sale to a private entity that was not identified.
CONSHOHOCKEN, PA—Equity Retail Brokers in Conshohocken, PA has formed the Capital Markets Real Estate Network with four Pennsylvania firms and one in California, to serve investor clients nationwide.
JERSEY CITY, NJ—Industrial property investors with a short-term holding period for the asset should start selling now, and long-term investors should begin to borrow against their properties to position themselves for additional acquisitions, says Jay B. Olshonsky, FRICS, SIOR, president of NAI Global.
Put a petrochemical plant less than two miles away from a shopping mall, and what do you get? In Pennsylvania, at least, you get ringing praise from the REIT that owns the mall.
MIDDLETOWN, NJ—Community Investment Strategies, a builder of award-winning over-55 and multifamily housing communities throughout New Jersey, has started work on Bayshore Village, a new affordable, age-restricted housing community for seniors 62 and older in Middletown, NJ.
PARSIPPANY, NJ—Kings Supermarkets has extended the lease of its 40,878-square-foot corporate headquarters at 700 Lanidex Plaza, Parsippany, NJ, for an additional nine-year term.
TRENTON, NJ—Stranded assets, mostly abandoned or nearly vacant office or retail properties, are a systemic problem and a redevelopment opportunity for New Jersey, according to Sam Brookham, a planner with PlanSmart New Jersey, which conducted an all-day conference for developers, planners, and policymakers at the state's underused War Memorial building here Tuesday.
PHILADELPHIA—In what it calls “a strategic response to the rising demand for high street retail,” PH Retail—an affiliate of real estate company Post Brothers—has acquired a controlling interest in 1501-05 Walnut Street and 1520-22 Chestnut Street, with a total project cost in excess of $50 million.
