Northeast

The Medicaid insurer is recommitting to the Philadelphia region with the build of a new facility in Newtown Square, PA and redesign of its existing campus in Essington, PA, near the Philadelphia International Airport.

The 1,401-foot high skyscraper embodies SL Green CEO Marc Holliday's words that New York City's next frontier is vertical.

“I think this program is going to force capital that's been sitting on the sidelines to act and to get invested in some of the communities that need it the most across the country,” says Lindsay Sparacino, managing director of EJF Capital.

The New York City-based real estate investment firm has acquired a 50,000-square-foot lot—55 Buena Vista Ave.—for $18.3 million. The 400,000-square-foot rental apartment development it plans to build at the site will feature 361 rental apartment units.

The developer was charged in federal court with defrauding investors in luxury real estate projects in Manhattan, the Hamptons and Westchester.

Wildflower is building the Brooklyn Logistics Center.

Toronto-based Avison Young will combine GVA with Avison Young's existing U.K. operations. The transaction is expected to close during the first quarter of 2019. London-based GVA has 1,500 employees in 15 offices in the U.K., Ireland and Poland.

Stores continue to combine online shopping with their in-store experience.