Commercial Real Estate
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Major Nonprofit NPT Picks Conshohocken for 40K-SF Office Expansion
The National Philanthropic Trust (NPT) is moving to a new Montco location, writes Noah Zucker for BISNOW. The nonprofit has signed a 40,000-square-foot lease at Three Tower Bridge, located at 2 Ash Street in Conshohocken. The building is owned by Gladstone Commercial Corp, which acquired the 60,000-square-foot property in 2017. NPT evaluated office options across…
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Bridges at Warwick Sells to REIT Specializing in Senior Housing for $50.2M
The Bridges at Warwick has been sold to National Health Investors, a real estate investment trust specializing in senior housing, for $50.2 million, writes Paul Schwedelson for the Philadelphia Business Journal. The 107-unit assisted living and memory care community, located at 1600 Almshouse Road in Jamison, was previously owned by an affiliate of Orlando, Florida-based…
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The Shops at Liberty Place, Center City Retail Space, Go Up for Sale
The Shops at Liberty Place, a retail space within the Liberty Place mixed-use complex in Center City, is now up for sale, writes Paul Schwedelson for the Philadelphia Business Journal. Chicago-based Metropolis Investment Holdings owns the two-level shopping center at 1625 Chestnut Street, as well as the attached One Liberty Place, a 61-story, 1.1 million…
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Toll Brothers Sells Second Atlanta Apartment as Multifamily Exit Continues
Toll Brothers has sold another Atlanta-area apartment community, continuing its exit from the sector, writes Tyler Wilkins for The Philadelphia Business Journal. An affiliate of PGIM Real Estate acquired the 290-unit Notion Decatur property for $76 million in mid-December, according to county records. The apartment complex sits just outside downtown Decatur near MARTA’s Avondale station.…
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Leadership Change at Toll Brothers Signals New Chapter
Fort Washington’s Toll Brothers is preparing for a major leadership transition as longtime executive Karl Mistry has been named the company’s next chief executive officer, writes Paul Schwedelson for The Philadelphia Business Journal. Mistry will succeed Douglas Yearley Jr., who has led the national luxury homebuilder since 2010. Yearley will move into the role of…
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Phoenixville Shopping Center Shadow-Anchored by Acme Supermarket Sells for $7.4 Million
A 33,000-square-foot shopping center near downtown Phoenixville that is fully occupied and shadow-anchored by Acme, sold in November for nearly $7.4 million, writes Erin McCarthy for The Philadelphia Inquirer. The complex changed hands from a Malvern-based private investor to one based in Glen Mills, with both entities structured as limited liability companies in the deal. The corporately owned Acme…
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Office Space Opens Up at Transit-Accessible Jenkintown Plaza
New office space is now available at Jenkintown Plaza, offering flexible leasing options in a transit-friendly town, writes Dino Ciliberti for Patch. The multi-tenant building at 101 Greenwood Avenue is marketing space on its lower level and fourth floor. Current availability includes two lower-level suites totaling 897 square feet and 2,069 square feet, along with…
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Toll Brothers is Doubling Down on 2025 Success
Fort Washington’s Toll Brothers continued an aggressive expansion in 2025 in a housing market still defined by limited supply, writes Ryan Mulligan for The Philadelphia Business Journal. Toll Brothers posted record home sales revenue of $10.8 billion in fiscal 2025 and invested heavily in land acquisitions throughout the Philadelphia suburbs. In Montgomery County, the company…
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PPR Capital Enters Montco with Major Limerick Apartment Acquisition
Wayne’s PPR Capital Management real estate firm is making a significant move in Montgomery County with its first acquisition in the Philadelphia market, writes Paul Schwedelson for The Philadelphia Business Journal. PPR Capital has partnered with Plymouth Meeting’s Bel Canto Asset Growth Fund to acquire Botanica Cottages, a 199-unit garden-style townhome community in Limerick Township.…
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New Resolution Would Give Philadelphia’s Vacant School Buildings New Life
Philadelphia has about 20 vacant school properties across the city, causing increased pressure from the community to do something with them. There is now a new resolution that the Philadelphia Board of Education will vote on that would bring new life to these vacant school buildings, writes Raymond Strickland for CBS News Philadelphia. If passed,…
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Major Sale Marks Toll Brothers’ Exit From Apartment Business
Toll Brothers is continuing a major strategic pivot, writes Janelle Ward for The Philadelphia Business Journal. The Fort Washington real estate giant is selling an Atlanta student housing tower for $132 million, exiting the apartment business and doubling down on luxury homebuilding. The property, known as Kinetic, is a 752-bed multifamily tower located near Georgia…
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Bellwether District Announces West Coast-Based Canned Beverage Company As First Tenant
The Bellwether District is set to host the first Northeastern United States factory of West Coast-based canned beverage company DrinkPAK, writes Jake Blumgart for The Philadelphia Inquirer. The 1,300-acre Bellwether District occupies the former site of the South Philadelphia oil refinery. The HRP Group has remediated the property into a warehouse, manufacturing, and life sciences…
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With a Giant in Place, the Shoppes at Concord in Glen Mills Can be Built
Giant will be the anchor for the Shoppes at Concord, a planned 155,000 square-foot shopping center in Glen Mills, writes Ryan Mulligan for the Philadelphia Business Journal. With an anchor in place, Retail Sites can go ahead with the shopping center construction, expected to start in 2026 after years of delay. Construction should take between…
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The Devon Senior Living Bought by North Jersey Operator
The Devon Senior Living has been purchased by Juniper Communities, a North Jersey-based operator of senior living facilities, for an undisclosed sum, writes John George for the Philadelphia Business Journal. The property was sold by AlerisLife, based in Massachusetts, which acquired the Chester County community in 2008 for $4.65 million. The company stated earlier this year that it was planning to sell the assets while winding down operations. The property spans 90,865…
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Bala Cynwyd Investor Sells North Wales Industrial Portfolio at Nearly 50 Percent Premium
Velocity Venture Partners, based in Bala Cynwyd, has sold a seven-building industrial portfolio in North Wales for nearly 50 percent more than its purchase price from three years ago, writes Paul Schwedelson for the Philadelphia Business Journal. The Montgomery County investor sold the seven industrial properties to NorthBridge of Wakefield, Massachusetts, for $22.2 million. The…
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