Developer Plans Second Housing Project Near Ivy League University

Major Student Housing Developer Plans Second Project Near Ivy League University in Philadelphia

One of the nation’s largest student housing developers and investors plans to build its second project near two Philadelphia universities.

Rendering of The Mark rising near the University of Pennsylvania in Philadelphia. (Landmark Properties)

Landmark Properties announced Thursday that a new  363-unit tower called The Mark will rise 34 stories within a few blocks of the University of Pennsylvania, an Ivy League school, and Drexel University.

The project also includes 55,938 square feet of existing historic office space next to the tower. Renderings provided by the developer appear to show the tower rising next to The Ralston House, a building constructed in the 1880s as a home for indigent, elderly women, according to documents on file with the city of Philadelphia. The University of Pennsylvania currently uses The Ralston House as office space.

*Article courtesy of Costar

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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 Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

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Jewelers’ Row Merchants ‘Very Pleased’ by Pearl Properties

Jewelers' Row Merchants Pleased in Philly

After years of sitting vacant, the Jewelers’ Row site of Toll Brothers Inc.’s planned condominium project could have a new future its neighbors view as a step in the right direction. 

The property, at the southwest corner of Sansom and South 7th streets, is being sold by Toll Brothers (NYSE: TOL) to Philadelphia luxury apartment developer Pearl Properties, according to Jewelers’ Row District President Rich Goldberg.

With a new building possibly under construction by mid-2023, it’s “one of the better case scenarios” as Jewelers’ Row businesses recover from Covid-19 fallout, Goldberg said. 

*Article courtesy Philadelphia Business Journal

For more information about Philadelphia land sites for sale or about any other Philadelphia 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 Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia land sites for sale through our Philadelphia commercial real estate brokerage firm.

76ers Proposed New Arena Won’t Snarl Center City Traffic

new arena 76ers center city

Despite already existing congestion on Center City streets at rush hour, the Philadelphia 76ers believe the area’s transportation system doesn’t need upgrades to accommodate the franchise’s proposed arena.

The $1.3 billion arena, planned to open in 2031, would be on Market Street between 10th and 11th streets at the site of the Fashion District. It would be above Jefferson Station and next to the 11th Street subway stop on the Market-Frankford Line.

David Adelman, who’s leading the arena development, described the site as “the most robust, transit-rich location in all of Philadelphia.” Adelman is the chairman of 76 Devcorp, the company created by the Sixers to oversee development of the new arena. He recently purchased a 10% stake in Harris Blitzer Sports & Entertainment, the 76ers’ ownership group. 

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia land sites for sale or about any other Philadelphia 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 Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

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Parkway Corp. Plans Apartment Tower in Center City

Center City Proposed Luxury Apartment Tower

Parkway Corp. is proposing a 31-story luxury apartment tower at 21st and Ludlow streets, part of an area in Center City experiencing a wave of new development. 

Plans for the project on the Parkway-owned lot include 304 apartment units, 15,600 square feet of first-floor retail space, and an underground parking garage. The 394,230-square-foot glass tower would sit between Market and Chestnut streets, near some of the city’s core office buildings and a few blocks from Rittenhouse Square. 

The site is across from the Mütter Museum. 

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia land sites for sale or about any other Philadelphia 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 Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia land sites for sale through our Philadelphia commercial real estate brokerage firm.

Fishtown Property in ‘Marquee Location’ Sells for $3.2M with 55-unit Development Planned for the Site

Fishtown Landsites

A largely vacant lot on one of the Fishtown neighborhood’s most popular corridors has sold for $3.2 million, making way for a 55-unit mixed-use development. 

The project at 1713-21 N. Front St. will be developed by Khosla Properties. Ground is expected to be broken in the first quarter of 2023. Anuj Khosla, the company’s managing partner, said it will likely carry a total project cost of just over $15 million. 

Situated along SEPTA’s Market-Frankford Line, the development will be located in between several popular concepts including Evil Genius Beer Co., Stephen Starr’s Mexican restaurant LMNO and CookNSolo falafel spot Goldie. Other nearby outposts include Suraya, Pizzeria Beddia and Wm. Mulherin’s Sons. 

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia land sites for sale or about any other Philadelphia 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 Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia land sites for sale through our Philadelphia commercial real estate brokerage firm.

Philadelphia Union to Build $55M WSFS Bank Sportsplex

Union Sports Complex in Chester

The Philadelphia Union unveiled plans Tuesday to build a $55 million sports and recreation complex in Chester through a partnership with WSFS Bank.

The 170,000-square foot WSFS Bank Sportsplex is part of the ongoing effort to develop and revitalize the Delaware River Waterfront in Chester. It will span 32 acres between Subaru Park, the Union’s soccer stadium, and the Union Power Plant office building.

“We believe this will make us a premier location for soccer on the East Coast, and elevate Chester and make its waterfront an iconic location for the region,” said Jay Sugarman, principal owner of the Union.

The project will bring the Major League Soccer club’s Philadelphia Union Academy and YSC Academy to one campus. The academies were developed by the organization for the development of young soccer players and to provide a pathway for them to become professional players.

“The heart of this project is our commitment to community and our desire to be an agent for positive change” said Tim McDermott, president of the Union. “The announcement of WSFS Bank Sportsplex is the beginning of an important next chapter for the Philadelphia Union and the growth and development of the Chester Waterfront.”

WSFS Bank entered into a multiyear sponsorship agreement with the Philadelphia Union in August. That partnership includes the Wilmington-based financial institution receiving naming rights for planned sports complex.

*Article courtesy of Philadelphia Business Journals

For more information about Philadelphia land sites for sale or about any other Philadelphia 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 Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia land sites for sale through our Philadelphia commercial real estate brokerage firm.

Blatstein Buys Piers 38 and 40 Along Delaware River

Fishtown Landsites

Bart Blatstein’s Tower Investments has acquired Piers 38 and 40 along the Delaware River along with the land in between the two structures for $18 million.

The properties at 775 S. Christopher Columbus Ave. include two buildings on Piers 38 and 40 that each total 180,200 square feet and a 120,000-square-foot surface lot on Pier 39. The properties combined total more than 12 acres to the pierhead line.

The area is zoned CMX-3 and can accommodate mixed-use development.

*Article courtesy of Philadelphia Business Journal 

For more information about Philadelphia land sites for sale or about any other Philadelphia 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 Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia land sites for sale through our Philadelphia commercial real estate brokerage firm.

Developers closing in on two Walnut Street properties in Center City

Developers Walnut Street Philly

Two Walnut Street properties that are essentially next door to each other on the western edge of Center City are tied up by active builders of multifamily projects. 

Dranoff Properties has put under agreement 2201 Walnut St., which is currently a Sunoco gas station, and Trammell Crow Co. has 2301 Walnut St., which is a single-story building occupied by Rite Aid, in its crosshairs, according to multiple sources. 

That developers have zeroed in on the two parcels highlights how otherwise underutilized properties are being snapped up for new multifamily buildings and other projects. While surface parking lots have been the most common sites developed, single-story buildings such as the former Wendy’s at 11th and Walnut streets, and parking garages such as one that had been at 12th and Sansom streets, have also been purchased by developers. 

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia land sites for sale or about any other Philadelphia 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 Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia land sites for sale through our Philadelphia commercial real estate brokerage firm.

Sixers Proposal For New Arena In Center City Grows Larger

Greyhound Bus Terminal Center City

The Sixers proposed new arena in Center City is already getting bigger. Eyewitness News confirms the Sixers plan to acquire the current site of the Greyhound Bus Terminal on Filbert Street.

Last month, the Sixers ownership announced their plans to build the new arena, calling it 76 Place at Market East.

Acquiring the Greyhound Bus Terminal on Filbert would expand the project and extra block and potentially close Filbert Street to traffic.

*Article courtesy of CBS3

For more information about Philadelphia land sites for sale or about any other Philadelphia 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 Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia land sites for sale through our Philadelphia commercial real estate brokerage firm.

Alterra Property Group Wants to Bring 352 apartment units for Market Street in West Philly

Alterra Property Group wants to bring 352 apartment units to the intersection of 42nd and Market Streets, on the edge of West Philadelphia’s University City.

The six-story modular building would include 22,511 square feet of retail space, a roof deck, amenity space, and 110 parking spaces.

“We think there’s a lot of demand for mid-size [apartment buildings] that are reasonably priced, although I’m not saying it’s affordable housing by any stretch,” said Leo Addimando, managing partner with Alterra.

The apartment project would utilize modular construction techniques, where much of the structure is built off site. These structures are cheaper to build than traditional projects, with substantial savings on labor costs. That’s why, Addimando says, they can be rented for hundreds of dollars less than typical new construction units.

*Article courtesy of Inquirer

For more information about Philadelphia land sites for sale or about any other Philadelphia 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 Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia land sites for sale through our Philadelphia commercial real estate brokerage firm.