PHILADELPHIA-CAMDEN-WILMINGTON-ATLANTIC CITY-READING | Metro Development Thread

[summersm343]

ICS Corp. adds 85,000 square feet to South Jersey footprint, plans to hire hundreds

ICS Corp. is expanding its South Jersey presence, signing a deal on 85,000 square feet of warehouse-distribution space in the Pureland Industrial Complex in Logan and seeking to hire as many as 500 additional employees.

The printing and marketing company subleased the space at 2303 Center Square Road through the end of 2025 and seeks to hire hundreds of new employees to work from that building as well as at 100 Friars Blvd. in West Deptford, where it has 250,000 square feet of manufacturing and warehouse space. The company also maintains a 50,000-square-foot warehouse at 1571 Grandview Ave. in Paulsboro.

Article behind paywall here:
https://www.bizjournals.com/philadel...Pos=6#cxrecs_s

[pablo16]

Riverfront at Royersford project gets $1 million state grant

Used to live very close to this spot. While a part of me would love to see these old Schuylkill River towns get redeveloped, a larger part of me feels that given climate change and increased heavy rain events, we should make it a priority to preserve as much of the floodplain as possible. This kind of development has repercussions downstream (Philadelphia).

I also think my 10+ year excitement over the Delaware River redevelopment was also misplaced. Perhaps it would have been best to create a nature preserve and recreation area on both sides of Delaware Avenue for the same reasons.

[ZSuede]

Not the greatest picture in the world, but construction on the "River House", a ~150-unit apartment building in Wilmington, next to the Wilmington Rowing Center, is underway. Will include a boat launch and saltwater pool

Contractor's project website: https://www.bancroftconstruction.com...t/river-house/

[Jawnadelphia]

^Nice find ZSuede, I was nearly convinced this project was going to bite the dust after no updates during the pandemic. Great to see, hopefully both phases get built.

-On the other side of the river, I'm waiting to see when Capano will kickoff phase two of the Avenue of the Arts complex. As far as I know, Capano has all approvals/permits in hand to begin work on that one (3 floors of parking, 8 floors of apartments).

[ZSuede]

Thanks Jawn! Yeah, just noticed it on a drive around town - I was surprised it's finally started. Some retaining walls are already in place, so they've been at it a while

I think there is great demand for "brand-new" product around here, as evidenced by The Falls and 101 Ave of the Arts being 100% leased. Both are Capano properties, so hopefully they've gotten the hint!

[Jawnadelphia]

Few more Wilmington updates...

Incyte's new science lab/office building (building #3 of their campus) is almost completed:


Downtown Wilmington - while Crosby Hill still has a few more floors to go, and The Cooper opened earlier this year, BPG's next downtown project, Lincoln Square has new signage up - Coming Summer 2022 (conversion to luxury apartments on Market Street).




Bardea, a terrific restaurant in a newer BPG converted building, is putting in a high-end steakhouse next door to its restaurant (the steakhouse is also in a BPG building).


I haven't heard any news recently, but BPG has gutted and renovated this building on the corner (black) in hopes of luring a grocer to this spot. Bonus, the luxury apt conversion at 913 N. Market Street (the orange/yellow building) which is undergoing a recladding.


Finally, Wilma's on Market Street opened on Thursday night, which features duckpin bowling, arcade games, and a nice looking bar and restaurant area--the menu is focused on New Orleans style cuisine. BPG invested $2 million into Wilma's.
Read more here: https://www.wdel.com/news/gallery-wi...a6ab39548.html

[Busy Bee]

Originally Posted by Jawnadelphia

Few more Wilmington updates...

Incyte's new science lab/office building (building #3 of their campus) is almost completed:

Nice wall. This is gonna sound weird but could someone get some closer pics of that and post them? Yes I'm being serious.

[Urbanthusiat]

Chicago fintech relocating HQ to Wilmington, plans to add almost 400 jobs

[Nova08]

Originally Posted by Urbanthusiat

Chicago fintech relocating HQ to Wilmington, plans to add almost 400 jobs

That's a nice move! Though I've heard Capital One may reduce it's footprint as part of a corporate move towards full remote work for some groups.

[EastSideHBG]

The Town, The Suburb, And The Urban Spirit: A Detailed Look At 400 West Elm, 13-Story, 348-Unit High-Rise Underway At 400 West Elm Street In Conshohocken, PA
https://phillyyimby.com/2021/12/the-...hocken-pa.html

[EastSideHBG]

French Pharmaceutical Giant Roquette Opening New HQ and Innovation Center in Lower Gwynedd
https://northpennnow.com/french-phar...-p4978-120.htm

A French pharmaceutical company that makes drug ingredients from corn, potatoes, wheat and peas, as well as producing plant-based materials for the cosmetic and food industries, has selected Lower Gwynedd Township as the site for its newest headquarters and innovation center, according to Pennsylvania Business Report.

Roquette, an innovator and manufacturer of naturally-derived excipients with plant-based ingredients, has put forth $8.7 million of a $25-million project to construct a 23,000-square-foot research and development lab in the Spring House Innovation Park off Norristown Road, which will bring about 30 new jobs to the area next summer, per the report.

Paul Smaltz, Roquette vice president of pharmaceutical solutions, told Pennsylvania Business Report that the new regional headquarters will allow Roquette to collaborate more efficiently with its business partners and develop solutions for future nutrition and health challenges.

It will house an Applied Sciences facility, which will research oral dosage forms, drug delivery systems, and more, according to a news release. There will also be a Customer Technical Services laboratory and an auditorium for hosting symposiums and customer training.

According to the release, the new headquarters will “advance the research of drug delivery systems for oral prescription drugs and nutraceutical active pharmaceutical ingredients (APIs), while improving speed to market. “

[KDD]

That area is suburban hell but wow is it ever hopping of late.

[ZSuede]

Originally Posted by Busy Bee

Nice wall. This is gonna sound weird but could someone get some closer pics of that and post them? Yes I'm being serious.

Here you go, Busy Bee. I had never been to Incyte's campus before, but for little Delaware, it's very nice











Bonus: Incyte's slightly-older parking garage w/a living wall (and a racquet court on top of it)

[iheartphilly]

^
Very good looking building, and lots of nice design elements...I like the living wall. Also, good connection to the other bldg and hardscaping and landscaping. Superbly executed all around.

[mcgrath618]

I think Busy Bee literally meant that stone wall...

[Urbanthusiat]

MM Partners planning $31M mixed-use development in heart of Norristown

Relevant bits:

MM Partners, a Philadelphia real estate company known for its development in Brewerytown, is planning a $31 million apartment complex in the heart of Norristown.

...

The development will consist of a seven-story building with 111 market-rate apartments and 12,000 square feet of commercial space at the intersection of Main Street and DeKalb Street.

...

Norristown officials had the final say on which proposal was selected and voted on MM Partners. The developer and the RDA are working on the sale of the parcel for $2.5 million and the proposal still needs to work through the local land development process. The property is located in a federal opportunity zone and the project received $3 million in RACP funding from the state.

LRK Inc. designed the project and MM Partners expects to break ground in 2023.

[summersm343]

^^Nice looking project that should help kickstart the revitalization of Norristown.

[summersm343]

Nouryon signs lease in Radnor for its North American headquarters

Nouryon, a specialty chemicals company owned by Carlyle Group Inc., has signed a lease in Radnor for its North American headquarters.

The company leased 50,000 square feet over two floors at Five Radnor Center at 100 Matson Ford Road. It expanded from 12,000 square feet within the office complex and committed to designate the space as its headquarters. Its global headquarters is in the Netherlands. Brandywine Realty Trust is the landlord of the Radnor property.

Carlyle bought Nouryon in 2018 from Akzo Nobel N.V., which is based in Amsterdam, for the equivalent of roughly $11 billion. Earlier this year, Nouryon spun out Nobian, its base chemicals business, though the unit remains owned by Carlyle. In September, Nouryon filed a registration statement with the Securities and Exchange Commission for an initial public offering.

Article behind paywall here:
https://www.bizjournals.com/philadel...Pos=4#cxrecs_s

[EastSideHBG]

Grocery stores at Montgomery and Plymouth Meeting malls come up for sale

A month after buying the Montgomery Mall for $55 million in a foreclosure sale, Kohan Retail Investment Group has put up for sale a Wegmans that is part of the property, and not far down the road at the Plymouth Meeting Mall PREIT has decided to market the space it has leased to Whole Foods Market on a long-term basis.

https://www.bizjournals.com/philadel...ource=facebook

[3rd&Brown]

This is way out in the burbs but relevant.

Good to see the continued beat of good news on blue collar jobs.

A cardboard factory will move into a shuttered Chester County printing plant, creating 150 jobs

https://www.inquirer.com/business/in...-20211223.html