Real Estate
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King of Prussia Office Complex Defies Market Trends With $68M Sale
An office property near the King of Prussia Mall has bucked regional real estate trends, selling for more than it did a decade ago, writes Noah Zucker for Bisnow. Chicago-based Mesirow Sale-Leaseback Capital acquired the three-building complex at 1170-1190 Devon Park Drive for just under $68 million. The 250,000-square-foot property last sold for $63.5 million…
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First Bank House of the Week: $1.5M Ambler Dream Home Near Top Upper Dublin Schools
Listed at $1,500,000, this standout residence at 434 Meetinghouse Road in Ambler combines location, space, and thoughtful updates, according to Realtor.com. . . Nestled in the sought-after Maple Glen neighborhood, the home is part of the award-winning Upper Dublin School District, making it an ideal choice for families. Maple Glen Elementary School is just a…
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Upgrade Time: Saquon Barkley Bought Malvern Mansion After Trading to Eagles
When Saquon Barkley upgraded his team from the New York Giants to the now Super Bowl-winning Philadelphia Eagles, he also traded in his New Jersey home for a mansion in Malvern, writes Mary K. Jacob for the New York Post. The 28-year-old football running back purchased a 10,000-plus-square-foot house in Chester County in April. He…
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First Bank House of the Week: Spacious Rydal Estate Features 8,500+ Sq. Ft. and Designer Kitchen
Listed at $2 million, 1514 Cherry Lane in Rydal blends classic architecture with modern amenities on a beautifully landscaped 1.27-acre lot. The 8,589-square-foot Colonial residence sets an impressive tone with its stately façade, sweeping driveway, and four-car garage before opening to a light-filled interior. . . Inside, soaring ceilings and arched passageways frame elegant living…
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Residents Say No to Affordable Housing Shortage Solution in Bucks County
Affordable housing shortage in Bucks County could be addressed by denser housing, but town residents oppose it, and town officials have not been approving such projects, writes Jess Rohan for the Bucks County Courier Times. The county spans around 400,000 acres, with over 40 percent already developed. By 2023, roughly 23 percent, or over 92,000…
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Conshohocken’s Morgan Properties Expands Again With $354M Acquisition
Conshohocken’s Morgan Properties, the third-largest apartment owner in the country, is growing again, writes Leslie Shaver for Multifamily Dive. Last week, the company announced that it will acquire Toronto-based Dream Residential REIT in a deal valued at roughly $354 million. The purchase adds 3,300 apartment units across 15 properties in Texas, Ohio, Kentucky, and Oklahoma…
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What You Get for $350,000 in Philadelphia, Bucks, Montgomery, Chester and Delaware County
What does $350,000 get you across the Delaware Valley? The answer changes depending on where you look. In Bristol, it’s a mid-century ranch reworked for one-level living. In Jeffersonville, a townhome with fresh updates and a bit more privacy. East Oak Lane offers a twin with hardwood floors and outdoor space, while Coatesville’s Valley Spring…
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WSJ: Fort Washington’s Toll Brothers Adjusts 2025 Outlook Amid Affordability Concerns
Fort Washington luxury homebuilder, Toll Brothers, is scaling back its outlook for the year, citing affordability pressures, writes Dean Seal for the Wall Street Journal. The company now projects 11,200 home deliveries in its fiscal year, which ends October 31. The average selling price of $950,000 – $960,000 is in line with its lower projection…
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First Bank House of the Week: $3.4 Million Modern Abode
An attractive modern home on 1.88 acres with seven bedrooms and nine and a half bathrooms is available for sale in Flourtown. This luminous and contemporary residence exudes sophistication and comfort, blending modern design with elegant touches throughout. Refined details include marble floors and domed skylights, creating a polished and inviting ambiance. . . Among…
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Upper Darby School District Closes on Shuttered Hospital Purchase
The Upper Darby School District closed a deal Friday with Prospect Medical Holdings to purchase the former Delaware County Memorial Hospital and two other structures on the Drexel Hill property for $600,000, writes John George for the Philadelphia Business Journal. The Crozer Health hospital has been closed since November 2022. Prospect Medical, owner of Crozer…
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Hankin Group to Add 373 New Apartments in Chester County Following Strong Demand
Amid strong rental demand, the Hankin Group is adding 373 new apartments to three existing projects in Chester County by the end of next year, writes Ryan Mulligan for the Philadelphia Business Journal. The developer is now executing phase two of its Downingtown and Exton projects, representing a more than $150 million investment. Exton-based Hankin…
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Collegeville Office Buildings Sell to Globus Medical with Staggering Price Cut
Two office buildings in Collegeville have sold to Audubon-based Globus Medical for $6.2 million, marking an 81 percent drop in value since their last sale in 2018, writes Paul Schwedelson for the Philadelphia Business Journal. The buildings, located at 200 and 400 Campus Drive and previously known as Highview I and Highview II, are currently…
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Union League to Add Sleek New Ballroom at Liberty Hill in Lafayette Hill
The Union League of Philadelphia is planning a major addition to its Liberty Hill golf course in Lafayette Hill, writes Ryan Mulligan for the Philadelphia Business Journal. The new Liberty Ballroom will feature floor-to-ceiling windows, two levels of event space, and room for up to 450 guests. Designed for weddings, galas, and corporate events, it…
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Conshohocken Porsche Dealership Site Sells for $10M to Northern Virginia Real Estate Investor
Capital Automotive, a Northern Virginia real estate investor, has paid $10 million for the site of a Porsche dealership located in Conshohocken, writes Paul Schwedelson for the Philadelphia Business Journal. The 3.1-acre site at 1316 W. Ridge Pike was sold by Romill Associates, which purchased the property in 1999 for $1.7 million. The property includes…
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First Bank House of the Week: Historic 6-Bedroom Farmhouse Hits Market for $1.15M
Listed at $1,149,000, this six-bedroom fieldstone farmhouse on 349 Brighton Road blends historic charm with thoughtful updates. Built circa 1847 and expanded in the mid-20th century, it sits on over an acre in a private setting, complete with a carriage house and spring house. . . With over 5,400 square feet, the home offers an…
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Former Elementary School Property in Levittown Acquired by Pulte Homes, with Plans for 66 Townhomes
The former Eisenhower Elementary School site in Levittown has found its new owner in Pulte Homes, which plans to build 66 townhomes on the 14-acre property, writes Paul Schwedelson for the Philadelphia Business Journal. The developer paid $4.1 million to CIBC Foundation for the site. Over the past decade, the former elementary school has been…
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Toll Brothers Buys 42 Acres in Perkiomenville to Build 43 Homes
Fort Washington-based Toll Brothers purchased a 42-acre site in Perkiomenville for $8.2 million to build 43 single-family homes, writes Paul Schwedelson for the Philadelphia Business Journal. The luxury home developer expects to start selling the homes next fall. Toll Brothers acquired the land from Provident Trust Group, a retirement investment fund. The parcel is located…
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Montco’s Smaller Industrial Spaces Thrive Amid Vacancy Spike
After a pandemic-fueled building boom, the Philadelphia region’s industrial market appears to have its highest vacancy rate in at least a decade, writes Paul Schwedelson for the Philadelphia Business Journal. According to Colliers, vacancy has reached 8.6%. But local investors are still betting on Montgomery County’s smaller footprint properties. Colliers Market Research Director Rose Penny…
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