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

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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.

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.

New York Developer Proposes Industrial Project Adjacent to Northeast Philadelphia Prison

New York developer plans industrial project next to Northeast Philadelphia prison
Rockefeller Group is planning a 192,000-square-foot warehouse in Northeast Philadelphia, adjacent to Holmesburg Prison, expanding the area’s growing industrial footprint. The project at 8301 Torresdale Ave. features 40-foot clear heights, 30 dock doors, two drive-in ramps, 150 parking spaces for cars, and 44 spaces for trailers.
Although the warehouse is being developed without pre-leased tenants, Rockefeller Group Vice President and Regional Director Heath Abramsohn stated that the facility is designed to accommodate either single or multiple tenants, and can serve a variety of industrial users, including cold storage, third-party logistics, e-commerce, and traditional distribution operations.

*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.

UArts Files for Chapter 7 Bankruptcy, Selling $87M Center City Property

The closed University of the Arts filed for Chapter 7 bankruptcy protection on Friday, aiming to liquidate its assets, including its Center City real estate valued at over $87 million.

This filing in U.S. Bankruptcy Court in Delaware follows the collapse of merger talks with Temple University. UArts, which abruptly shut down in June, will sell its assets to pay off creditors.

The bankruptcy filing reveals total liabilities of $74.2 million, including nearly $50 million in municipal bond debt. The school has between 10,001 and 25,000 creditors, with numerous claims from students and faculty. The board of trustees approved the bankruptcy move on September 5.

*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.

Mayor Parker Shares a Decision on the 76ers Arena is Coming Soon

Mayor Parker Shares a Decision on the 76ers Arena is Coming Soon

Mayor Cherelle Parker stated Wednesday that she will consider input from all stakeholders before deciding on the Philadelphia 76ers’ proposed arena in Center City, but a decision is “forthcoming.” “I’m not talking about in months,” Parker clarified during a town hall discussion, emphasizing that future return on investment is her primary concern.

Hundreds gathered at the Pennsylvania Convention Center, near both Chinatown and the planned site for 76 Place on Market Street, while demonstrators outside protested the proposed $1.55 billion, 18,500-seat arena that would replace part of the Fashion District mall between 10th and 11th streets.

Parker organized the town hall following a weekend march against the arena, which Chinatown leaders said drew thousands. More than half of the attendees at the convention center wore white T-shirts reading “No Arena.”

*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.