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.

Elwyn Taps Developer for $100M Campus Plan

Elwyn Taps Developer for $100M Campus Plan

Delaware County behavioral health nonprofit Elwyn plans to build a $45 million school as part of a $100 million redevelopment of its 260-acre Media campus. The project, expected to span a decade, includes demolition and new construction, though timelines and additional details have not been disclosed.

Elwyn CEO Charles McLister stated that planning began last year, aiming to create “state-of-the-art environments” that foster “health and healing” for residents, staff, and the community. Founded 172 years ago, Elwyn supports over 25,000 individuals with autism, intellectual disabilities, and behavioral health challenges. The organization operates across several states, including Pennsylvania, Delaware, and New Jersey, and provides early intervention services to 10,000 Philadelphia families annually.

*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.

City Council Committee Approves Sixers Arena Proposal

City Council Committee Approves Sixers Arena Proposal

The Philadelphia 76ers’ proposed Center City arena cleared a key hurdle Thursday, advancing from committee to the full City Council for approval after several delays. The amended legislation increases the Sixers’ community benefits agreement by $10 million, bringing it to $60 million. A team spokesperson said Thursday afternoon that the amendments were still under review. The committee passed the package in a 12-4 vote amid protests and chants of “You’re all sellouts” in the chambers. Councilmembers Jamie Gauthier, Jeffery Young Jr., Nicolas O’Rourke, and Rue Landau opposed the measure, while Councilmember Kendra Brooks was absent.

A final vote is scheduled for Dec. 19 during a special City Council meeting.

*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.

Alterra’s $490M Storage Portfolio Sale Includes 8 Local Properties

Alterra’s $490M Storage Portfolio Sale Includes 8 Local Properties

A joint venture between Philadelphia-based Alterra IOS and JPMorgan Chase has sold a 51-property industrial outdoor storage portfolio to Peakstone Realty Trust for $490 million. Alterra CEO Leo Addimando noted that selling to an institutional investor was ‘the last unproven part’ of their business strategy after a decade in industrial outdoor storage.

The 440-acre portfolio spans 14 states, including eight sites in the Philadelphia region, and includes 45 fully leased operating properties and six redevelopment sites. Industrial outdoor storage properties are typically located near major transit hubs, allowing tenants to store heavy equipment. Alterra partnered with JPMorgan in 2020, investing $300 million to acquire these sites.

*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.

Delaware River Pier For Sale with Development Potential

Delaware River Pier For Sale with Development Potential

A Delaware River pier with 33 boat slips is for sale, providing buyers with built-in income and opportunities for waterfront development. “There’s potential to build over the water and explore creative options,” said Ken Wellar of Global Real Estate Advisors, who holds the listing. The Pier 5 marina at 7 N. Christopher Columbus Blvd. is listed for $2.75 million and is located between Cherry Street Pier and the Pier 5 condominium on the northern edge of Penn’s Landing.

*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.

Lender Takes Over Boston Market Owner’s Bensalem Site

Lender Takes Over Boston Market Owner's Bensalem Site

A prominent Bucks County development site, once planned for a large mixed-use project, is returning to the lender after receiving no bids at a sheriff’s sale. The 35-acre property at 2201 Street Road in Bensalem was owned by a company controlled by Jignesh “Jay” Pandya, owner of the Boston Market restaurant chain. Located between Hulmeville and Knights Roads, just south of the Jefferson Ward Shopping Center, the site was formerly home to Armstrong Middle School, which was demolished. In November 2021, Bensalem Township Council approved a plan for “The Hub at Bensalem,” a project with over 150,000 square feet of retail space and 40 residential units across 11 buildings.

*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.

169-Unit Development to Form ‘A New Neighborhood’ Between City Avenue and the Schuylkill River

169-unit project will create 'a whole neighborhood' between City Avenue and the Schuylkill River

A major residential development is underway in West Philadelphia, bringing 169 units to Wynnefield Heights. Known as Wynnefield Heights Square, the project at 4050 Conshohocken Ave. began pre-sales last week, offering 142 condos starting at $289,000 and 27 townhomes starting at $499,000. Noah Ostroff, founder of the PhillyLiving real estate team and partner at Keller Williams Empower, described it as one of the largest for-sale residential projects currently in progress in Philadelphia, envisioning it as creating “a whole neighborhood.”

Ostroff, who is spearheading the sales effort for developer Borkson Properties, explained that the project will proceed gradually, with the pace of sales determining the timeline for full completion, expected to take around two years. The first phase, set to begin in October, includes five townhomes and 12 condos, with expected completion by January or February. The development will culminate in an 83-unit apartment building.

*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.

Bart Blatstein’s Delaware River Pier Plans Taking Shape

Bart Blatstein's Delaware River Pier Plans Taking Shape

The future of a prime site along the Delaware River waterfront is becoming clearer. PrimeSpace Capital is set to unveil a CubeSmart self-storage facility at Pier 40 next week, following a complete restoration of the historic 180,200-square-foot property at 841 S. Christopher Columbus Blvd. The New York-based developer, specializing in self-storage, acquired the site from prominent Philadelphia developer Bart Blatstein. Blatstein continues to own Pier 38, which also spans 180,200 square feet, along with the 120,000-square-foot surface parking lot on Pier 39, located between the two buildings.

*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.