Keystone Gets $42M to Turn Plymouth Meeting Mall Office Into Apartments

Keystone Gets $42M to Turn Plymouth Meeting Mall Office Into Apartments

Keystone has secured $42 million from Arbor Realty Trust to convert a 175,000-square-foot office building at Plymouth Meeting Mall into Monarq, a 149-unit residential community. Located at 500 W. Germantown Pike, near the I-476 and I-276 intersection, the building shares a parking lot with Whole Foods and AMC Theaters. The first phase is set for completion in early 2026. Monarq will feature a fitness center, indoor pool, coworking lounges, outdoor communal spaces, and some units with private balconies. Meanwhile, mall owner PREIT is exploring plans to sell a portion of the parking lot for a separate 275-unit residential project, pending township approval.

*Article courtesy of Philadelphia Business Journal

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Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

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Village at Valley Forge Developer Plans Final Medical Building

Village at Valley Forge Developer Plans Final Medical Building

The developer of the Village at Valley Forge is in talks with potential medical tenants for a build-to-suit facility on the last remaining undeveloped portion of the 132-acre project in King of Prussia.

Philadelphia-based Realen Properties developed the $1.5 billion master-planned community, strategically located between I-76, Route 202, and Route 422. After selling off individual sections of the mixed-use project, only one 3.1-acre site remains.

Realen expects the final parcel to be dedicated to health care, with the potential to accommodate up to 400,000 square feet of development.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia land sites for sale or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

Please visit our website, www.wolfcre.com for a full listing of Philadelphia land sites for sale.

Exton Square Mall Acquisition Completed

Exton Square Mall Acquisition Completed

Abrams Realty & Development has officially acquired Exton Square Mall, finalizing the purchase on Tuesday and setting the stage for a major redevelopment of the struggling retail property.

The Elkins Park-based firm, led by owner Peter Abrams, purchased the 75-acre site for $34.25 million. The seller, Philadelphia-based regional mall operator PREIT, had previously been under contract to sell the property in 2022 to Brandywine Realty Trust (NYSE: BDN) for $27.5 million, but that deal ultimately fell through.

The sale marks the end of a prolonged chapter for PREIT, which recently transitioned into a private company after emerging from bankruptcy protection.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia land sites for sale or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

Please visit our website, www.wolfcre.com for a full listing of Philadelphia land sites for sale.

Goldenberg Group Lists South Broad Site For Sale

Goldenberg Group Lists South Broad Site For Sale

Goldenberg Group has listed a key property at Broad and South streets, signaling a shift in its redevelopment plans. The 0.7-acre site is part of a larger project spanning Broad Street between Lombard and South, including a proposed 43-story residential tower just north of the listing. Originally planned for a second phase, the site at 512 S. Broad St. is now for sale. Meanwhile, Goldenberg received zoning approval for the 468-unit tower at 500-10 S. Broad St. and remains under agreement to acquire an adjacent former health center and parking lot by year-end.

*Article courtesy of The Philadelphia Business Journal

For more information about Philadelphia land sites for sale or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

Please visit our website, www.wolfcre.com for a full listing of Philadelphia land sites for sale.

PPA Garage in Center City to be Redeveloped

PPA Garage in Center City to be Redeveloped

The Philadelphia Parking Authority will demolish a five-story parking garage near Jefferson Health’s Center City campus to make way for a new eight-story garage with 6,500 square feet of ground-floor retail along Chestnut Street.

Gilbane, based in Rhode Island, was selected to build the new garage at 10th and Ludlow streets. While the property is in a prime redevelopment location, current plans don’t include additional uses above the garage. However, PPA spokesperson Martin O’Rourke said the design allows for future air space development. The site falls within CMX-5 zoning, the city’s most flexible designation, permitting commercial and residential overbuild options. A demolition permit for the 450-space garage at 1025-29 Chestnut St. was issued Wednesday. The L-shaped structure wraps around buildings at 10th and Chestnut streets and fronts both Ludlow and Chestnut streets.

*Article courtesy of The Philadelphia Business Journal

For more information about Philadelphia land sites for sale or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

Please visit our website, www.wolfcre.com for a full listing of Philadelphia land sites for sale.

University City District Boosts $60M Schuylkill Waterfront Fundraising

University City District Boosts $60M Schuylkill Waterfront Fundraising

University City District is meeting with state lawmakers as it ramps up fundraising for its $60M West Philadelphia Waterfront project along the Schuylkill River. The two-deck structure, proposed last spring, would stretch between Market and Chestnut streets, featuring a café, aquatic marsh, beach, and splash pad.

Construction likely won’t begin until 2027 to avoid competing for funds with the city’s 250th birthday celebrations in 2026. The nonprofit plans to fund the project through philanthropic, public, and private investments, with an initial $600,000 goal by summer to kickstart community engagement.

*Article courtesy of The Philadelphia Business Journal

For more information about Philadelphia land sites for sale or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

Please visit our website, www.wolfcre.com for a full listing of Philadelphia land sites for sale.

Broad Street Diner Site to Become a 110-Key Hotel

Broad Street Diner Site to Become a 110-Key Hotel

Plans have shifted for the Broad Street Diner site in South Philadelphia. Owner Michael Petrogiannis now intends to develop a 110-key Hyatt Studios hotel at 1135-43 S. Broad St., replacing his previous plan for a five-story, 31-unit residential building with restaurant space. The hotel will rise five or six stories and include surface parking.

The Broad Street Diner, built by Fodero in the 1960s, operated until 2007 before Petrogiannis reopened it in 2011. Its closure depends on the redevelopment of the former Melrose Diner site at 1501-1527 Snyder Ave., where he plans a residential building with a new Melrose Diner. Once that project is complete, demolition and hotel construction will begin.

*Article courtesy of The Philadelphia Business Journal

For more information about Philadelphia land sites for sale or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

Please visit our website, www.wolfcre.com for a full listing of Philadelphia land sites for sale.

Northeast Philadelphia Parcel Sells for $4M

Northeast Philadelphia Parcel Sells for $4M

A Northeast Philadelphia parcel with approved development plans has been sold to a New York-based firm for $4 million. Paramount Realty, based in Lakewood, New Jersey, sold the property at 5501 Whitaker Ave. to an entity affiliated with Brooklyn’s Asset Realty and Construction Group, according to Philadelphia property records. The triangular lot is adjacent to the headquarters of auto parts manufacturer Cardone Industries.

In December 2022, Paramount received zoning permits to construct a three-story, 126,300-square-foot self-storage facility on the 3-acre parcel. The property, located just off Roosevelt Boulevard, is assessed at $3.6 million, city records show. This acquisition adds to Asset Realty and Construction Group’s active projects in Northeast Philadelphia. In July, the firm completed the Civic Design Review process for a 152,720-square-foot self-storage facility at State Road and Cottman Avenue.

*Article courtesy of The Philadelphia Business Journal

For more information about Philadelphia land sites for sale or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

Please visit our website, www.wolfcre.com for a full listing of Philadelphia land sites for sale.

Manayunk Waterfront Site with Approved Development For Sale

Manayunk Waterfront Site with Approved Development For Sale

A rare development opportunity is available along Main Street in Manayunk, featuring approved plans for 181 luxury waterfront apartments. Located on “Venice Island” between the Manayunk Canal and Schuylkill River, the offering also includes 4436 Main St. across the canal, with plans for 1,441 square feet of retail space. The residential project spans two five-story buildings with 145 parking spaces. Owned by Rock Urban Management, the site is marketed by JLL, with an asking price in the low $7 million range, per broker Carl Fiebig.

*Article courtesy of The Philadelphia Business Journal

For more information about Philadelphia land sites for sale or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

Please visit our website, www.wolfcre.com for a full listing of Philadelphia land sites for sale.

76ers Reach Deal with Comcast Spectacor to Stay in South Philly, Dropping Center City Arena Plans

76ers Plan to Stay

The 76ers have decided to remain in South Philadelphia’s sports stadium district, according to multiple City Council members. This decision follows over two years of intense debate about building a new arena on East Market Street in Center City.

Despite City Council passing legislation late last year to support the Center City arena project, Comcast Spectacor worked to keep the team in South Philly. Their efforts included unveiling a $2.5 billion redevelopment proposal for the area, featuring thousands of apartments, restaurants, and expanded entertainment options.

*Article courtesy of The Philadelphia Inquirer

For more information about Philadelphia land sites for sale or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

Please visit our website, www.wolfcre.com for a full listing of Philadelphia land sites for sale.