Real Estate
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First Bank House of the Week: Restored 1725 Farmhouse on 3 Acres Lists in Lower Gwynedd
Historic Lower Gwynedd Farmhouse Blends Colonial Charm With Modern Luxury. A meticulously restored Colonial-era farmhouse in Lower Gwynedd Township is now on the market for $2,390,000, offering a rare mix of historic character and modern upgrades. The nearly 300-year-old property is listed on and sits on more than three private acres within the Wissahickon School…
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Exol’s Lease at Morrisville’s South Penn Logistics Center Biggest Industrial Deal in Years
Exol, an automated fulfillment company based in Menlo Park, California, has leased the entire 973,200-square-foot South Penn Logistics Center in Morrisville, which is one of the Philadelphia area’s largest industrial deals in years, writes Paul Schwedelson for the Philadelphia Business Journal. South Penn Logistics Center, which was completed last year by Chicago-based Logistics Property, had…
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New Philadelphia Bill Would Expand Transit-Oriented Development, Allowing More Housing Near SEPTA
A new bill from Mayor Cherelle L. Parker’s administration would allow more apartment construction around SEPTA stations to help boost ridership, writes Jake Blumgart for The Philadelphia Inquirer. The proposal expands an existing law that allows developers to build more housing with less parking on many properties that are within 500 feet of SEPTA stations…
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A Gladwyne Mansion That Defies Today’s Lower Merion Zoning Codes Hits Market
A stately 18,000-square-foot mansion in Gladwyne’s coveted estate section has hit the market, listed for $7.875 million, writes Ryan Mulligan for the Philadelphia Business Journal. Tucked behind gates on 1.5 manicured acres along Waverly Road, the home offers eight bedrooms, 14 bathrooms, and luxury features across four sprawling levels — including a pool, a four-car…
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Lender Puts Willow Grove Park Mall on Market Following Matured $170M Debt
The majority of Willow Grove Park Mall, one of the largest shopping malls in the region, has been put on the market by a lender after a $170 million loan matured, writes Ryan Mulligan for the Philadelphia Business Journal. The nearly 725,000-square-foot portion of the mall owned by PREIT includes Macy’s, Nordstrom Rack, Cheesecake Factory,…
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First Bank House of the Week: Inside a $1.525M Colonial Estate in Lower Gwynedd Township
Listed at $1,525,000, this stately Colonial tucked within the Village at Trewellyn enclave in Lower Gwynedd Township offers a blend of luxury living and peaceful natural surroundings. Situated on a landscaped half-acre lot, the five-bedroom residence features more than 7,000 square feet of living space designed for both everyday comfort and elegant entertaining. . .…
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Morgan Properties Continues National Expansion With Georgia Deal
Conshohocken-based Morgan Properties continues its national expansion with the purchase of a 260-unit apartment community outside Atlanta, according to a press release. Morgan Properties acquired The Corwyn South Point Apartments in McDonough, Georgia, from ECI Group. The 10-building complex will be renamed Arden at South Point. The sales price has yet to be disclosed. Located…
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Perkasie’s Final Undeveloped Land May Become Home to Recycling Center
After borough leaders and residents pushed back against plans for luxury apartments, the final undeveloped tract of land in Perkasie may instead be developed as a recycling center, writes Lacey Latch for the Bucks County Courier Times. On Feb. 25, Perkasie Place submitted a sketch plan to the borough planning commission seeking initial feedback on…
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Riverfront Home in New Hope with Five Terraces Hits Market for $10 Million
A home on the Delaware River in New Hope recently hit the market for $10 million, as waterfront real estate values soar in the borough, writes Ryan Mulligan for the Philadelphia Business Journal. The house, located on Main Street, was completed in 2021 and spans 6,000 square feet, featuring a car elevator, five terraces, a floating dock, and an interior elevator. Residents…
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Netflix House Becomes the Star Tenant in King of Prussia Mall Sale
One of the most talked-about new attractions at King of Prussia Mall is now doubling as a real-estate selling point, writes Linda Moss for CoStar. The former Lord & Taylor building that now houses the nation’s first Netflix House has been listed for sale. This comes just months after the experiential venue debuted. The 120,000-square-foot…
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Philadelphia Lands in Top 10 of Renters’ Most Wanted Cities List
Philadelphia ranked among the top ten most popular major cities for renters looking for apartments leading up to this year’s peak rental season, writes Michaelle Bond for The Philadelphia Inquirer. To determine the ranking, the nationwide apartment search platform RentCafe analyzed millions of apartment searches across the 150 largest cities in the United States. The…
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Fort Washinton’s Toll Brothers Scores Seven Gold Awards in Industry’s Top Competition
Fort Washington’s Toll Brothers is once again earning national recognition for its luxury home designs, according to a press release. The company recently captured seven Gold Awards and 28 Silver Awards at The Nationals. The ceremony is the homebuilding industry’s top honors presented by the National Association of Home Builders’ Sales and Marketing Council. The…
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Vacant King of Prussia Office Building Could Make Way for Amazon Warehouse
Amazon plans on tearing down a vacant 260,000-square-foot office building in King of Prussia and then construct a new 99,300-square-foot warehouse in its place, writes Paul Schwedelson for the Philadelphia Business Journal. The proposed last-mile delivery station would be located at 760 Moore Road, roughly a half-mile from Route 422 and close to both I-276…
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Second Major Project Near Ambler SEPTA Station Moves Forward
Another mixed-use development is gaining traction in Ambler, according to Paul Shwedelson for The Philadelphia Business Journal. SEPTA has recommended Plymouth Meeting-based Korman Communities and Benchmark Real Estate to develop a 3.4-acre surface parking lot it owns next to the Ambler Regional Rail station. The transit agency’s board is expected to authorize a development agreement…
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Main Line Landmark Gets New Mission Under Local Investor
A historic Bryn Mawr building is getting a new purpose, rooted in education, writes Jeff Blumenthal for The Philadelphia Business Journal. The longtime headquarters of Bryn Mawr Trust Co., located at 801 W. Lancaster Ave., has been sold for $7.6 million to real estate investor Michael Karp. The roughly 46,000-square-foot property served as the bank’s…
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Local Investors Pay Nearly $10M for Staybridge Suites Philadelphia-Montgomeryville
Local investors have purchased the 105-room Staybridge Suites Philadelphia-Montgomeryville in North Wales for $9.89 million, writes Emma Dooling for the Philadelphia Business Journal. An entity affiliated with Westville, New Jersey-based Pinnacle Hospitality Group completed the acquisition of the hotel on January 15, with the sale price working out at $94,190 per key. Led by Chet…
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First Bank House of the Week: Move-In Ready Luxury Hits the Market in Lower Gwynedd
Listed for $2,550,000, this brand-new Lower Gwynedd home offers nearly 6,000 square feet of finished living space in a secluded yet highly convenient Montgomery County setting. Tucked at the end of a private lane, the property pairs classic architectural details with modern amenities, creating a move-in-ready opportunity just minutes from Ambler’s shops, dining, and train…
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$39M Debt Sends Rosetree Office Complex in Media Into Receivership
The 268,000-square-foot Rosetree office complex in Media has been sent to receivership, with the property holding more than $39 million in debt, writes Paul Schwedelson for the Philadelphia Business Journal. The two-building property at 1400 N. Providence Road, owned by an entity affiliated with Keystone, became the subject of foreclosure after the owner missed the…
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