Real Estate
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Villanova University to launch real estate investment fund
When the University of North Carolina’s student-run real estate investment fund reached out to Equus Capital Partners President and CEO Daniel DiLella about potential investment opportunities, the Villanova University board member declined, but then had a thought — why isn’t Villanova doing the same? The Daniel M. DiLella Center for Real Estate at the Villanova School of…
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Workspace Property Trust postpones IPO, cites market conditions
Office landlord Workspace Property Trust has postponed its plan to publicly list shares on the New York Stock Exchange, citing “current market conditions,” and suggesting possible scant investor interest in the company’s portfolio of suburban real estate, writes Jacob Adelman for philly.com. [uam_ad id=”54865″] “We are delaying the [initial public offering] but will reevaluate options…
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The Fitler Club: Not your father’s country club
Over 75,000 square feet of riverfront real estate will feature “best-in-class social, hospitality, business and wellness offerings,” which, according to its founder David Gutstadt, includes two full-scale restaurants. And heading up the club’s operations side as executive vice president is Jeff Benjamin, who, nearly 20 years ago, co-founded the Vetri Family with Marc Vetri., writes Alex Tewfik for phillymag.com. [uam_ad id=”54865″] Gutstadt’s $50 million-to-$60 million…
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Asian flair added to King of Prussia Town Center restaurant scene
Thousands of years of tradition plus a decade of planning are behind the long awaited new star of the King of Prussia Town Center dining scene. Ancient recipes with a contemporary twist, along with bright, up-to-the-minute décor and modern branding define the essence of fast casual Choolaah Indian BBQ, located next to Fogo de Chao…
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Montco tops in suburban office leasing
Montco natives have driven past empty corporate centers for years, but that is all changing for the better. The office markets in Philadelphia’s Central Business District (CBD) and the suburbs are a tale of contrasts, according to various third-quarter research reports, writes Natalie Kostelni for Philadelphia Business Journal. [uam_ad id=”54865″] The suburban market had its…
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Proposed St. Mary’s, Lindenwold Castle development moves forward
Mattison Estate, a proposed mixed-housing development on the 45-acre former St. Mary’s Villa property at Bethlehem Pike and Lindenwold Terrace, took another step forward. The Upper Dublin Planning Commission voted last week to recommend approval, with conditions, of the preliminary and final land development plan to the township board of commissioners, writes Linda Finarelli for…
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Aon Affinity finds new home in Fort Washington
Aon Affinity, which specializes in developing, marketing and administering customized insurance programs, moved its 500 employees into 78,000 square feet of office space at 1100 Virginia Drive Oct. 16. With more than 200 clients, the firm offers a variety of personal and professional insurance coverage, including a broad range of risk, retirement and health solutions,…
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Toll Bros. plans additional Village at Valley Forge project
The building continues at the Village at Valley Forge. To ensure enough housing is in place to support all of the shops and restaurants at the King of Prussia Town Center, another high-end development is on the way. Toll Bros. Inc. is planning to construct a 60-unit condominium complex at the Village at Valley Forge,…
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Horsham’s Toll Bros. eyes Jewelers Row
Horsham-based developer Toll Bros. has resumed its efforts to build a residential tower on the Jewelers Row shopping street in Center City, writes Jacob Adelman for philly.com. Timothy Spreitzer, a spokesman for the Toll’s urban-focused City Living division, said in an email Thursday that the company has “filed a new application for zoning approval based upon…
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Penn State continues Abington growth
Penn State Abington has paid $5.45 million for 1095 Rydal Road, a 31,000-square-foot office building called the Rydal Executive Plaza, writes Natalie Kostelni for the Philadelphia Business Journal. The acquisition is a significant one for the college as it grows in the township, along with its campus and enrollment. The school has undertaken $100 million in…
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Bozzuto Group bringing upscale apartment living to King of Prussia
King of Prussia is well known as a shopping mecca by many, and now developers are betting on it becoming known for upscale living spaces as well. While the retail portion of the Village of Valley Forge has been embraced by shoppers and diners, the next frontier at the mixed-use community is the various multifamily…
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Workspace Property Trust prepares for IPO
Workspace Property Trust, a Horsham, Pa., owner of suburban office properties here and elsewhere, has filed to go public as a real estate investment trust, writes Natalie Kostelni for Philadelphia Business Journal. The company did not list in Securities and Exchange Commission documents how many shares it expects to sell or at what price. However,…
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Bala Cynwyd firm spends $28 million for Center City building
You might not think it’s possible to ‘have fun’ with a building, but that’s exactly how the former owner of the building described his sentiments about selling. Stoltz Management of Bala Cynwyd has paid $28.75 million to buy 2300 Chestnut St. in Philadelphia, writes Natalie Kostelni for the Philadelphia Business Journal. [uam_ad id=”54865″] The building…
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House of the Week: Gorgeous Historic Estate with Charming Stone Colonials in Ambler
A stunning 22-acre estate dating back to the early eighteen century with two charming stone colonial homes is available for sale in Ambler. The “Dawesfield” includes two three-story homes and three barns, one of which dates back to 1796. The estate also includes a three-hole golf course, swimming pool, greenhouse, spring house and guest house…
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Lower Merion to Add More Sites to Historic Resources Inventory
Lower Merion Board of Commissioners is moving forward with a plan that could add around a dozen new sites to the Historic Resources Inventory, writes Richard Ilgenfritz for Main Line Times. The township’s Historic Commission compiled the list of possible additions earlier this month. It was then forwarded to the board’s Building and Planning Committee…
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Bala Cynwyd’s Stoltz Real Estate Partners to Acquire Nashville Office Towers
Stoltz Real Estate Partners from Bala Cynwd is under agreement to acquire an office tower in downtown Nashville, writes Adam Sichko for Philadelphia Business Journal. The Montgomery County real estate investment firm has agreed to buy the ServiceSource Tower, one of the largest buildings in downtown Nashville for an undisclosed amount. The 20-story building is…
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House of the Week: Striking Stone Colonial in Ardmore
A striking five-bedroom, four-and-a-half-bathroom stone colonial, rich with history and old world charm is available for sale in Ardmore. Built at the beginning of the twentieth century, it was once home to chemical heiress Eleuthera DuPont, who was famous for her social gatherings. The entry leads into a large entrance hall with a beautiful staircase.…
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Sisters Form Dynamic Duo at Capital Commercial Real Estate, Put Their Stamp on Main Line
The commercial real estate market on the Main Line is scorching hot right now, with properties moving so quickly you’d think it was a game of Monopoly, and no one understands that climate better than Amy Yangello and Lisa Trout of the Newtown Square-based Capital Commercial Real Estate Group. These sisters provide real estate advisory…
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