Developer Buys 16 Acres in Chester County

Developer buys 16 acres in Chester County, plans warehouse project

E. Kahn Development recently acquired 15.7 acres of undeveloped land in Chester County, specifically at 1401 Phoenixville Pike in West Whiteland Township. The Malvern-based developer intends to construct approximately 150,000 square feet of industrial space on the site. The purchase price for the land was $3.1 million, and the seller was Johnson Matthey, a company specializing in chemicals and sustainable technologies. Johnson Matthey owns the adjacent parcel, which features an existing industrial building.

While the specific design for the industrial building or buildings has not been finalized, President Eli Kahn of E. Kahn Development anticipates that the overall project cost will fall within the range of $25 million to $30 million.

*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.

Parkway Halts One Project and Reevaluates Another Due to Surging Interest Rates Impacting Developer Plans

Parkway calls off one project and rethinks another as high interest rates force developers to hit the brakes

Parkway Corp. CEO Rob Zuritsky unveiled intentions for a lavish 31-story luxury apartment tower at 21st and Ludlow streets last October, yet uncertainties around escalating construction costs and surging interest rates hindered the project’s kickoff timeline. A year later, these economic hurdles persist, prompting Zuritsky to revise Parkway’s plans for the Center City location to adopt a more conservative approach. While the city witnessed the inauguration of Southern Land Co.’s towering 48-story Laurel in Rittenhouse Square, featuring condos starting at $2.8 million, Zuritsky expressed the impracticality of embarking on a project of similar magnitude given the existing economic climate.

*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 Philadelphia 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 Unveils Three Options for Chinatown Project

Updates coming to Chinatown Philadelphia

The City of Philadelphia has released three potential design concepts to cap the Vine Street Expressway as part of the second phase of the Chinatown Stitch project.

The long-discussed project to better connect Chinatown’s core with the northern section of the neighborhood long severed by Vine Street and the Vine Street Expressway was originally detailed in March. The city then launched a community engagement process along with a city-funded study that helped inform the cap options announced Tuesday.

*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 Philadelphia 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.

Pickleball Courts Coming Near City Hall Plaza

Pickleball Court Coming to Center City

Pickleball courts will soon pop up at Dilworth Park.

Two outdoor temporary courts will be available to rent from Sept. 7 through Oct. 21, from 10 a.m. to 7 p.m. every day, weather permitting. Courts cost $40 for an hour, and paddles are an additional $6 each, with up to six players permitted per court.

CityPickle, the company behind the courts, has already brought the sport to New York City with temporary locations in Central Park and Hudson Yards. The company, founded in 2021, is opening the first club dedicated to pickleball in New York City this fall and has plans to do the same in Philadelphia next year.

*Article courtesy of 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 Philadelphia 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.

Saint Joe’s University Acquires 12-acre Property

Saint Joseph's University acquires 12-acre property for $15M, expanding City Avenue footprint

Saint Joseph’s University has acquired an 11.6-acre property on City Avenue from the Sisters of the Visitation for $15 million as it expands its footprint amid campus master planning.

The parcel sits at 5848 City Ave., adjacent to property that houses the school’s Maguire-Wolfington Welcome Center and its Career Development Center at the corner of City and Cardinal avenues. It gives the school more than 20 contiguous acres backing up to Philadelphia’s city limits. The Sisters of the Visitation had owned the property since 1940, according to property records.

*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 Philadelphia 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.

Developer Plans for Mixed-use Project Next to North Philly’s Train Station

Developers buy long-vacant site next to North Philadelphia train station, plan massive mixed-use project

Two social impact-oriented developers have acquired a long-neglected site next to Amtrak’s North Philadelphia train station for $11.8 million and plan to build 2 million square feet of commercial, residential, retail and community space.

Philadelphia-based Shift Capital and New York-based Essence Development, led by former Philadelphia Eagles safety Jamar Adams, partnered to buy the 5-acre property this spring. The purchase includes the parking lot next to the train station at 2932 N. Broad St. and the vacant Ink Factory building at 2935 N. 16th St.

Shift and Essence, equal partners in the the North Station development, bought the property from HFZ Capital Group, a New York firm that had planned to redevelop the site with a mixed-use office tower and a residential building as the first part of a multiphase project. HFZ never followed through and later faced financial and legal challenges with the company’s other developments, opening an opportunity for Shift and Essence.

*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 Philadelphia 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.

Former Downey’s Irish Pub on South Street Hits the Market

Former Downey's Irish Pub property on South Street hits the market with asking price of $2M

The property formerly home to Downey’s Irish Pub and Restaurant, a landmark South Street establishment that shuttered in 2016, has been put up for sale with zoning approvals for a new mixed-use development.

The Headhouse Square property, located at 526 Front St. and 105-11 South St., was listed on Tuesday without an address for an asking price of $2 million. The property is currently a 3,000-square-foot vacant lot after the four-story building was razed in 2022 following the issuance of a demolition permitin July 2021.

Downey’s opened on South Street in the mid-1970s and became known over the years as a hub for Saint Patrick’s Day festivities. After the original owner sold the pub in 2003, it underwent a tumultuous 13 years under new ownership that ended with its closure.

*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 Philadelphia 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.

Penn Plans for 10-Story Parking Garage to Support Expansion

Penn plans $40M, 10-story parking garage at Pennovation Works to support expansion

The University of Pennsylvania has received permits to build a 10-story parking garage with 858 spaces at Pennovation Works as it prepares for major development on the property.

The 23-acre campus at 3401 Grays Ferry Ave. is being built out as a hub for innovation, research and startup development. It currently includes the 58,000-square-foot Pennovation Center and a 73,400-square-foot lab building, along with other research and office space. Construction on the parking garage is expected to start in the first half of 2024 and is being built to support future site expansion.

*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 Philadelphia 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.

Sixers Offer City Ownership of Market Street Arena Site

Sixers offer to give city ownership of Market Street arena site, project additional tax revenue of $1B

With the Philadelphia 76ers’ quest for a new Center City arena entering a crucial phase, the team said Thursday that it is willing to transfer the Market Street property to public ownership to give the city greater influence on the project. 

The Sixers said it is also prepared to remove the existing tax increment financing (TIF) structure currently in place at the arena site until 2035 to increase tax revenue for the School District of Philadelphia and the city. The Sixers project the arena will generate more than $1 billion in new tax revenue for the city, state and school district.

*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 Philadelphia 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.

Three Firms Have Been Selected to Evaluate 76ers’ Arena Proposal

Philadelphia selects 3 firms to independently evaluate 76ers' Center City arena proposal

The City of Philadelphia has selected firms to conduct two of the three independent evaluations planned for the 76ers’ polarizing Center City arena proposal.

BJH Advisors and Sojourner Consulting will analyze the project’s community impact and CSL will conduct an economic analysis and projections, the city announced Wednesday.

*Article courtesy 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 Philadelphia 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.