Real Estate
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King of Prussia District Reports Steadiness in Commercial Real Estate Vacancy Rates
The King of Prussia District has released its third-quarter 2022 report on the area’s commercial property vacancy rate. Its analysis shows relative market steadiness: Flex and industrial space mirrors the steady trend of the office sector. Vacancy rate for flex, lab, and R&D space remained solid at 4.6 percent, while the industrial property vacancy rate was…
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Limerick Residents — Having Called for Open Space Preservation — Now Must Decide How to Pay for It
A Nov. 8 Limerick Township ballot query will ask residents put their money where their mouths are. The question is in regard to a possible increase to the township’s earned income tax (EIT) to fund open space preservation. Emily Rizzo filled a vacant news spot at WHYY with the story. A 2019–2021 township survey asked…
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Long-Term No-Dice Pushback on Limerick Casino at Last Yields to Intended Less-Risky CRE Gamble
A Limerick site — 116 acres across from the Philadelphia Premium Outlets — has been purchased by an undisclosed investment firm in N.Y. Ryan Mulligan landed the assignment reporting the sale in the Philadelphia Business Journal. The lot, off Route 422 and in the shadow of the Constellation Energy Limerick Generating Station, went for $23…
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Malvern Bank House of the Week: 26 Major Road, Royersford, Is No Minor-League Home
With MLB currently dominating headlines in Montgomery County (and everywhere else), a Royersford real estate opportunity that is currently at bat seems appropriate. Even its address — 26 Major Road — evokes Phillies baseball images of offensive homers and defensive outfield snags. The five-bedroom, four-bathroom custom built home sits on a 2.8-acre lot, a “field…
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YouTube’s Beauty Expert RCL Star, Beauty Entrepreneur Sells Her Wynnewood Home for $4.2M
YouTube star and beauty entrepreneur Rachel Levin — better known under her online moniker RCLBeauty101 — has sold her Wynnewood home for $4.2 million. Lisa Dukart covered the transaction in the Philadelphia Business Journal. The completely renovated 7,400-square-foot residence features a spacious primary suite with a walk-in closet that is so large, it could serve…
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1950s-Era Public Housing Site in Glenside Relaunched as Affordable Housing Community
North Hills Manor, a redevelopment project in Glenside, has transformed a a 1950s-era public housing unit into a high-quality 50-unit affordable housing community. Located at 3115 Walnut Avenue, the site also includes a new 2,6380-sq.-ft. community building. North Hills Manor’s 17-building site includes apartments with one to four bedrooms, as well as townhomes. The high-quality…
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Hedge Fund Manager Takes a Financial Soaking on Sale of Gladwyn Mansion — with Its Nine Bathrooms
Hedge fund manager Andrew Barroway lost around $25 million on the sale of his lavish mansion in Gladwyne. His investment in constructing it was an estimated $35 million, reported Katherine Clarke for Mansion Global. The sprawling estate sold in August for $9.26 million, according to Montgomery County property records. The new owner is listed as…
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Strategically Located Office Complex Near King of Prussia Sells to Private Real Estate Company
Newtown Square real estate investment manager Equus Capital Partners announced that an affiliate has completed the sale of 440–460 Swedesford Road, a Class-A office campus near King of Prussia. The property was sold to a private real estate company for an undisclosed amount and was 95 percent occupied at the time of the deed transferal.…
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Plan to Raze Trees at a Villanova Estate Causes Environmentalists to Fervently Bark in Protest
A century old arboretum on a Gilded-Age era estate is the battleground between preservationists, environmentalists, and Lower Merion School District. Activists say that the school district wants to fell hundreds of trees on Villanova’s Oakwell Estate to make room for auxiliary playing fields for Black Rock Middle School. Stacia Friedman got to the root of…
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Jury Finds Montgomery Township Underpaid for a Family’s 50 Acres in 2010; Judgment Could Reach $7.5 Million
A jury has finally made the Zehr family whole for the 50-acre tract of land that was purchased by Montgomery Township in a 2010 eminent domain expropriation arrangement. Jon Campisi did the deed in bringing this story to the Montgomeryville-Lansdale Patch. The township takeover of the property was justified at the time for the purpose…
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Mixed-Use Development Proposed for Property in Heart of King of Prussia
A King of Prussia property could soon be seeing a mixed-use development. The space was acquired by developer and car dealership owner Vince Piazza in 2016 before he passed away. Now, an affiliate of his company, Piazza Management, is requesting that the space at 1100 First Avenue be turned into hundreds of new apartments and…
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Malvern Bank House of the Week: In Conshy, the Hills Are Alive with the Sound of Muchness
A topographic map of Conshohocken illustrates the range of its elevations, from a low of 36 feet to a high of 410 feet. That variance has enabled residential real estate developers to leverage plots that offer unique settings and spectacular views, especially on the southwest side of the Schuylkill River, site of 102 Merion Hill…
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Malvern-Based Acme Sold to Kroger for $20 Billion
The owner of Malvern-based grocery chain Acme is selling its company to Kroger for $20 billion. Kroger will be accruing Acme-owner Albertsons’ $5 billion debt in the merger, writes Joseph DiStefano for The Philadelphia Inquirer. This merger combines the U.S.’s second- and third-largest grocers, just behind Walmart. Although grocery store workers may have traded over…
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Horsham Might Get Physical Rehab Hospital Amid ‘Dearth’ in Montgomery County
A Horsham rehab hospital might be on its way to aiding Montgomery County patients’ physical needs. Florida-based Workspace Property Trust wants to use a vacant building — previously occupied by Philidor, a mail order pharmacy company — according to John George’s account in the Philadelphia Business Journal. It is unknown who will operate the…
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Conshohocken-Rooted Property Group Partners Internationally for Industrial Real Estate Success
Property group EQT Exeter went above and beyond on exceeding its target in raising $3 billion to scoop up industrial buildings. The original goal of the oversubscribed fund was $2.5 billion, as the group had high demand from investors all over the world, including North America, Europe, Asia and the Middle East, writes Ryan Sharrow…
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Montgomery County Homebuyers and -Sellers: ‘There’s a Lot of Fear about Entering the Market Right Now’
A Lansdale couple seeking a larger home is concerned about the timing of listing their present dwelling, given ongoing housing supply volatility. Michaelle Bond unlocked the details of the pair’s residential real estate conundrum in The Philadelphia Inquirer. When the Lansdale husband and wife bought their home in 2017, they were childless, mortgage rates were…
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Montgomery County Leadership: Matin Haghkar, Owner of RE/MAX Plus
Matin Haghkar, Owner of RE/MAX Plus (Bridgeport and Philadelphia), PHL Abstract, Wize Mortgage, and Team Leader of The Haghkar Group, spoke to MONTCO Today about growing up in Montgomery and Chester County and how hardship growing up pushed him to become an entrepreneur. Haghkar describes being a senior in high school, working 40 hours a…
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Local CRE Tycoons: Ever Dream of Holding the Deed to Bryn Mawr College?
Montgomery County real estate barons can test their financial savvy on a small scale, thanks to a new Main Line version of the classic board game Monopoly. Justin Udo did the deed in reporting its debut for KYW Newsradio. This backyard version is produced by the current licensee for the real estate game, Top Trumps,…
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