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  #5481  
Old Posted Jan 18, 2023, 4:46 PM
3rd&Brown 3rd&Brown is offline
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Originally Posted by Boku View Post
Campbell's is consolidating headquarters in Camden.

Campbell’s will oversee pretzels and Goldfish from expanded headquarters in Camden

https://www.inquirer.com/business/ca...-20230118.html
This is huge news. These aren't theoretical jobs that may or may not materialize. These are jobs that already exist and are being moved, explicitly. Not only that, they're very high paying jobs.

This region rarely seems to "win" in these high stakes games. Refreshing to say the least.
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  #5482  
Old Posted Jan 19, 2023, 11:54 PM
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Brandywine lists five-building Plymouth Meeting Executive Campus for sale

Brandywine Realty Trust has listed its five-building Plymouth Meeting Executive Campus for sale with some in the industry estimating it could sell for more than $100 million.

The five office buildings total 521,288 square feet. Four of the buildings have four floors and the fifth stands at six floors.

The five buildings are:

600 W. Germantown Pike: 89,626 square feet;
610 W. Germantown Pike: 90,088 square feet;
620 W. Germantown Pike: 90,183 square feet;
630 W. Germantown Pike: 89,870 square feet; and,
660 W. Germantown Pike: 161,521 square feet

https://www.bizjournals.com/philadel...ng-office.html
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  #5483  
Old Posted Jan 20, 2023, 2:41 PM
PHLtoNYC PHLtoNYC is offline
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Hankin Group set to open $80M first phase of River Station in Downingtown

https://www.bizjournals.com/philadel...Pos=0#cxrecs_s

Situated on the site of the former Sonoco Products Co. paperboard mill, which sat empty for years, the project is just west of the Boot Road and Brandywine Avenue intersection, near the Downingtown train station and next to trails that traverse the adjacent woods. Hankin Group believes the project has what it takes not only to be successful, but to impact the entire borough of about 8,000 people.

While a train station is already within walking distance via a pedestrian bridge connecting the development to Johnsontown Park, the Pennsylvania Department of Transportation plans to move it even closer on Brandywine Avenue.

Once complete, the three buildings comprising the first phase will have 203 total apartments with 9,300 square feet of retail space. The first building has 64 apartments and 5,100 square feet of retail, while the second has 72 apartments and 4,200 square feet of retail. The third building has 67 apartments.

An additional phase, on the site of a current parking lot next to the first three apartment buildings on the west side of Brandywine Avenue, will consist of a fourth apartment building with 154 units.

This isn't Hankin Group's first foray at such a community. In nearby Exton, the firm developed Eagleview, an 800-acre mixed-use community with more than 1,200 residences, 2.8 million square feet of office space, and 50,000 square feet of retail.
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  #5484  
Old Posted Jan 23, 2023, 5:17 AM
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Originally Posted by PHLtoNYC View Post
Hankin Group set to open $80M first phase of River Station in Downingtown

https://www.bizjournals.com/philadel...Pos=0#cxrecs_s

Situated on the site of the former Sonoco Products Co. paperboard mill, which sat empty for years, the project is just west of the Boot Road and Brandywine Avenue intersection, near the Downingtown train station and next to trails that traverse the adjacent woods. Hankin Group believes the project has what it takes not only to be successful, but to impact the entire borough of about 8,000 people.

While a train station is already within walking distance via a pedestrian bridge connecting the development to Johnsontown Park, the Pennsylvania Department of Transportation plans to move it even closer on Brandywine Avenue.

Once complete, the three buildings comprising the first phase will have 203 total apartments with 9,300 square feet of retail space. The first building has 64 apartments and 5,100 square feet of retail, while the second has 72 apartments and 4,200 square feet of retail. The third building has 67 apartments.

An additional phase, on the site of a current parking lot next to the first three apartment buildings on the west side of Brandywine Avenue, will consist of a fourth apartment building with 154 units.

This isn't Hankin Group's first foray at such a community. In nearby Exton, the firm developed Eagleview, an 800-acre mixed-use community with more than 1,200 residences, 2.8 million square feet of office space, and 50,000 square feet of retail.
Hankin doesn't do anything half assed. I live in Eagleview and it's the best place to live in this part of Chester County.

My only concern with the development in Downingtown is that it's next to the Brandywine and that part of Downingtown is prone to floods when heavy storms roll through. Parts of Downingtown were under water after Ida in 2021. They are supposed to relocate a new Downingtown train station to this development at some point. The current station in town is pretty small.
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  #5485  
Old Posted Jan 23, 2023, 2:00 PM
Skintreesnail Skintreesnail is offline
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That's some decent TOD. I didn't know a new station was in the works.



http://www.planthekeystone.com/Pages...n-Project.aspx
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  #5486  
Old Posted Jan 23, 2023, 8:44 PM
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Developers explore potential for Norristown State Hospital’s ‘blank canvas’

Norristown, Montgomery County officials talk journey of land conveyance

https://www.timesherald.com/2023/01/...-blank-canvas/
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  #5487  
Old Posted Jan 24, 2023, 5:39 PM
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NorthPoint leases up first phase of Keystone Trade Center, readies next wave of development

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NorthPoint Development is nearing completion of the first building of Keystone Trade Center, an expansive 1,800-acre logistics hub in Bucks County that could eventually include up to 15 million square feet of new industrial space.

The 1-million-square-foot building has been fully leased to "one of the two major parcel service providers," according to marketing material from Colliers, the brokerage handling leasing at the former site of a U.S. Steel plant in Falls Township. The warehouse is one of two industrial buildings included in the first phase of Keystone Trade Center. The second building, totaling 1.1 million square feet, is also fully leased and set to be completed by the end of 2023.

The second phase of the project is building out three more warehouses. Two of those are under construction and will each span over 1 million square feet, while dimensions for the third haven't been determined, Golarz said. The two under construction could be delivered in mid- to late-summer but tenants haven't been secured.

Altogether, the site is set to hold more than 20 warehouse buildings totaling 10 million square feet of industrial space, with the potential to build out to 15 million square feet. Kansas City, Missouri-based NorthPoint is investing $1.5 billion into the logistics hub and a spokesperson said the firm expects development to take another five to six years.
Article behind paywall here:
https://www.bizjournals.com/philadel...-800-acre.html
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  #5488  
Old Posted Jan 25, 2023, 1:57 AM
3rd&Brown 3rd&Brown is offline
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State unemployment rates for December were released today. PA continues to have good momentum. Unemployment (3.9%) was an all time low. Looks like jobs and labor force continue to grow at a good clip.

https://www.bls.gov/news.release/laus.nr0.htm

Curious to hear other people's take.
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  #5489  
Old Posted Jan 25, 2023, 3:06 PM
PHLtoNYC PHLtoNYC is offline
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BET Investments pays $12.8M for Ambler office building, parking lot next to SEPTA station
https://www.bizjournals.com/philadel...Pos=0#cxrecs_s

BET Investments Inc., known for mixed-use developments in the Philadelphia suburbs, has purchased an office building and adjacent parking lot in Ambler next to the SEPTA Regional Rail station.
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  #5490  
Old Posted Jan 25, 2023, 3:17 PM
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Wilmington - Incyte Pharma campus expansion



Incyte is planning another new building to add to their impressive campus in Wilmington.
https://www.wdel.com/news/incyte-upd...06bb63931.html
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  #5491  
Old Posted Jan 25, 2023, 8:10 PM
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  #5492  
Old Posted Jan 25, 2023, 8:51 PM
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Originally Posted by Jawnadelphia View Post


Incyte is planning another new building to add to their impressive campus in Wilmington.
https://www.wdel.com/news/incyte-upd...06bb63931.html
Beautiful building! This may sound weird, but that rendering reminds me of the upper level of 30th Street Station. The portion of the building curving left reminds me of the tracks between Schuylkill and Walnut Interlockings (basically 30th Street to Penn Medicine Station), and the portion curving to the right reminds me of Schuylkill to Kay Interlockings (basically 30th Street Station heading towards Paoli and points west).
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  #5493  
Old Posted Jan 25, 2023, 9:22 PM
3rd&Brown 3rd&Brown is offline
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Originally Posted by Jawnadelphia View Post


Incyte is planning another new building to add to their impressive campus in Wilmington.
https://www.wdel.com/news/incyte-upd...06bb63931.html
This is gorgeous.
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  #5494  
Old Posted Jan 26, 2023, 4:42 AM
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Not technically Philly but it's nearby and I feel like it's culturally tied to Philly, so here's a look at some development happening in the Lehigh Valley. I like to check up every now and then. A lot is happening up there. Lehigh Valley and Harrisburg areas are the fasting growing areas in the Northeast since the pandemic.

A look at development in Lehigh Valley
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  #5495  
Old Posted Jan 26, 2023, 2:38 PM
PHLtoNYC PHLtoNYC is offline
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Originally Posted by Urbanthusiat View Post
Not technically Philly but it's nearby and I feel like it's culturally tied to Philly, so here's a look at some development happening in the Lehigh Valley. I like to check up every now and then. A lot is happening up there. Lehigh Valley and Harrisburg areas are the fasting growing areas in the Northeast since the pandemic.

A look at development in Lehigh Valley
Awesome to see the Lehigh Valley booming.
Thanks for sharing.
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  #5496  
Old Posted Jan 26, 2023, 2:51 PM
3rd&Brown 3rd&Brown is offline
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Quote:
Originally Posted by Urbanthusiat View Post
Not technically Philly but it's nearby and I feel like it's culturally tied to Philly, so here's a look at some development happening in the Lehigh Valley. I like to check up every now and then. A lot is happening up there. Lehigh Valley and Harrisburg areas are the fasting growing areas in the Northeast since the pandemic.

A look at development in Lehigh Valley
Very cool. If you could share part II when you get it.
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  #5497  
Old Posted Jan 26, 2023, 3:16 PM
UrbanRevival UrbanRevival is offline
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A couple of interesting real estate articles today:

Quote:
Taconic Talks NYC Life Sciences and the Firm’s Second Look at Boston and Philadelphia

Taconic Partners has been one of the busiest investors the past year in the life sciences space — which itself has been one of commercial real estate’s busier asset classes.
...
Part of the intention with launching Elevate is the development, leasing and operation of those existing assets, as well as the growth of the portfolio, not only here in New York City, but in other strategic markets in which we’re currently seeking investments, such as Philadelphia and Boston.
https://commercialobserver.com/2023/...-philadelphia/

Quote:
House Prices Will Rise Fastest in These 6 Cities

Home prices have slowly started declining across the U.S. since the end of 2022, as higher mortgage rates—combined with low inventories and skyrocketing new and existing property prices—made homebuying unaffordable for many.

However, while analysts expect the housing market to become more affordable in the next two years on a national level, some areas of the U.S. will not experience significant home-price declines, according to investment bank Goldman Sachs—quite the opposite.

While the Pacific Coast and Southwest regions—which have seen the largest increases in inventory on average—will report the largest price declines, according to Goldman Sachs, the Mid-Atlantic and Midwest will experience significantly more-modest falls.

...

In Miami and Baltimore, home prices will continue growing, though modestly, in 2023, with an expected increase below 1 percent. In Philadelphia, New York, St. Louis, and Chicago, home prices will decline by less than 5 percent.

In 2024, home-price growth in these cities is expected to recover quickly. Baltimore, Philadelphia and New York are expected to report home-price increases of just below 5 percent, while Miami, St. Louis and Chicago will report ones of around 3 percent.
https://www.newsweek.com/house-price...cities-1776721
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  #5498  
Old Posted Jan 26, 2023, 3:24 PM
UrbanRevival UrbanRevival is offline
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Originally Posted by 3rd&Brown View Post
State unemployment rates for December were released today. PA continues to have good momentum. Unemployment (3.9%) was an all time low. Looks like jobs and labor force continue to grow at a good clip.

https://www.bls.gov/news.release/laus.nr0.htm

Curious to hear other people's take.
Very solid for PA. It tied for 11th nationally in terms of the annual growth rate (3.5%), along with Georgia and Washington. I honestly can't ever think of a time since I've looked at these numbers (for around the past 15 years or so) when PA ranked so high for annual job growth.
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  #5499  
Old Posted Jan 26, 2023, 4:36 PM
3rd&Brown 3rd&Brown is offline
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Originally Posted by UrbanRevival View Post
Very solid for PA. It tied for 11th nationally in terms of the annual growth rate (3.5%), along with Georgia and Washington. I honestly can't ever think of a time since I've looked at these numbers (for around the past 15 years or so) when PA ranked so high for annual job growth.
Same. Definitely at an inflection point and probably mostly concentrated in the SE portion of the state. Hopefully Shapiro can find a way to get the entire state running on all cylinders.
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  #5500  
Old Posted Jan 27, 2023, 4:26 PM
PHLtoNYC PHLtoNYC is offline
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Built with mass timber. And the AC Marriott is still planned, which the area needs.

Ellis Preserve office, part of Equus' final phase of the mixed-use development, gets underway
https://www.bizjournals.com/philadel...ss-timber.html

Construction on a five-story, 106,000-square-foot office building at Newtown Square’s Ellis Preserve is set to pick up in earnest next week with the start of footing and foundation work. The project is slated to open in summer 2024.

The office building at 203 Squire Drive is being built with mass timber, which Spaeder praised for its environmental benefits. Mass timber is made of multiple compressed layers of wood, which give it load-bearing strength. Steel and concrete contribute significantly to carbon output and so are being used minimally in the mass timber building.

The office building is part of a final development phase that also includes a 140-room Marriott AC Hotel, 75,000 square feet of retail made up of restaurants and entertainment venues, an 18,000 square foot wedding venue and 200 apartments. Construction on these individual projects is underway and in various stages. The apartments are opening in February.
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