Real estate firm pays $50M for nearly 80 acres in Bucks County, sells Target-leased building in Upper Merion

Affiliates of Bruce E. Toll sold 79.5 acres of land in Langhorne for $50 million to Novaya Foxfield Industrial, a Boston real estate company that has been active in the Philadelphia area.

At the same time, Novaya Foxfield has moved on from the first property it acquired in the region, selling 900 River Road in Upper Merion as part of the disposition of that building and one in Georgia for a total of $142 million at the end of last year. A separate sale price for the River Road property couldn’t be determined and wasn’t readily available in public property records. 

The Langhorne property was considered “underutilized” land of the Reedman Toll Auto World, said Michael Markman, president of BET Investments Inc., which is Bruce E. Toll’s real estate company. A total of 37 parcels along Lincoln Highway, Old Lincoln Highway and Virginia Avenue were sold in two separate transactions, according to Bucks County property records. Brad Ruppel and Mike Hines of CBRE Inc. arranged the transaction of the Langhorne real estate as well as the River Road building. 

*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.

By-right apartment plan proposed for 5th and Bainbridge in South Philadelphia

Lcor Inc. has proposed a seven-story apartment building with 157 units at 5th and Bainbridge streets in South Philadelphia, a by-right plan that may lead to development taking place on what is now a surface parking lot. 

E-Z Park, a Philadelphia parking operator, owns the site and has been trying to develop the parcel for years but ultimately ran up against neighborhood resistance. 

In 2018, E-Z Park proposed a $35 million mixed-use development that involved a six-story, 156,000-square-foot building with 54 apartments, a garage and a 23,112-square-foot Target as the retail anchor. That plan was met with complaints for its size, scale and other potential ills such as increased traffic, noise and litter. A Trader Joe’s was later considered but never moved forward. 

The Lcor development would be done in partnership with E-Z Park and is still going through Philadelphia’s Civic Design Review process. The Queen Village project, as proposed, would involve constructing a two-story podium and five stories of wood framing for the apartments. 

*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.

Multi-Billion Dollar Philadelphia Redevelopment Project Gets Dubbed ‘Bellwether District’

The multi-billion-dollar redevelopment of a former oil refinery site in Philadelphia, a project touted as what will be one of the largest and most strategically located U.S. logistics hubs, now has a moniker that reflects the times.

Developer HRP, formerly known as Hilco Redevelopment Partners, on Monday announced the 1,300-acre South Philadelphia property it acquired for $225.5 million in June 2020 will now be called the Bellwether District. The company, based in Chicago, purchased the site of the former Philadelphia Energy Solutions refinery at 3144 W. Passyunk Ave. in a bankruptcy auction.

“This is a poster child of environmental and social justice, let’s call it that,” Justin Dunn, HRP senior vice president of development, told CoStar News. “The amount of remediation, the amount of development that is going to go into this site — that was 150 years a refinery — and now turning that into an economic and environmental sustainable engine for this region I think is really, really powerful. And we’re future-proofing this as much as possible, everything from the energy to the environmental, to the types of buildings, the types of life-science products … And those jobs are sustainable for generations to come.” 

*Article courtesy of Costar

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.

PhilaPort puts two Delaware River piers up for sale, creating ‘generational opportunity’ for developers

Philly Navy Yard

PhilaPort has put Piers 38 and 40 up for sale, having decided it no longer needs the properties to support its operations and would be better off using any proceeds from their sale toward funding future operations. 

The properties at 775 S. Christopher Columbus Ave. are being sold as a pair and combined total nearly nine acres fronting the Delaware River. Two buildings, totaling roughly 180,200 square feet each, sit on each pier. 

The structures were built in 1920 and, having no historical designation, can be torn down to make way for new development. They are zoned CMX-3 and can accommodate mixed-use development. 

“This is a generational opportunity for someone to develop something significant along the waterfront, and I think we are going to see interest not only from regional developers but national developers as well,” said Chris Pennington, a broker with Binswanger Commercial Real Estate Services, which has the listing. 

In recent years, the Delaware River has become a more desirable place to live and development activity has picked up along the waterfront. 

*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.

Development team proposes 611-unit apartment complex for Philadelphia Navy Yard

A venture between Ensemble Real Estate Investments and Mosaic Development Partners is proposing what would be the first large-scale multifamily development for the Philadelphia Navy Yard. 

Called 1200 Normandy Place, the mixed-use development would have 611 apartments across two separate buildings that combined would total 704,356 square feet. Of that space, 25,755 square feet would be retail space. The proposed project would rise on a site bound by Normandy Place, South 13th Street, Constitution Avenue and South 12th Street. It is scheduled to go before the Philadelphia Planning Commission’s Civic Design Review on Tuesday. 

Digsau, which has designed other projects at the Navy Yard, is the architect of 1200 Normandy. 

The development of an expansive residential project such as 1200 Normandy would make inroads in creating the Navy Yard as a walkable, mixed-use community where people live, work and want to visit. That has been a goal of the Ensemble-Mosaic team since it was selected in July 2020 to develop the remaining 109 acres at the Navy Yard. 

*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.

‘It’s been an odyssey’: Blatstein to finally break ground this fall on $500M South Broad project

Tower Investments Inc. plans to break ground this fall on what will end up being a $500 million mixed-use development on a high-profile site at Broad Street and Washington Avenue in Philadelphia.

The project at 1001 S. Broad St. involves the construction of 1,100 apartments over two to three phases as well as 65,000 square feet of retail space that will be anchored by a 40,000-square-foot Giant Food Stores supermarket. The development will involve several structures that will end up totaling 1.5 million square feet.

While the development is expected to cost around $300 million, the installation of infrastructure and other work for the entire site is anticipated to add tens of millions of additional dollars to the cost of the project. Tower CEO Bart Blatstein said the total investment would come in at around half a billion dollars.

Blatstein has been entertaining a development on the 195,000-square-foot parcel since 2014, coming up with various designs of which some seemed outlandish and others received pushback from the community.

One version had a dog park, pool, running park, private garden, fire pits, grilling areas, an outdoor movie area, and tennis courts that would have converted into volleyball pits all on the roof of a proposed building. Those plans never materialized and Blatstein went back to the drawing board.

“It’s been an odyssey for years,” Blatstein said.

*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.

Developer buys former Horizon House HQ in University City, plans 18-story project

Horizon House, a nonprofit that focuses on mental health services, has sold its former Philadelphia headquarters for $17.92 million to a developer of student housing.

Landmark Properties of Athens, Georgia, bought the five-story, 79,200-square-foot building at 119 S. 31st St. and has plans to raze the structure to make way for a new development. The property is also known as 120 S. 30th St. and sits across from Evo at Cira Centre South, another student housing project.

Landmark plans to develop an 18-story, 291,850-square-foot structure on the .68-acre site that will have 280 units and serve as student housing. It will add more than 800 beds to the University City neighborhood. The project will be called the Standard at Philadelphia and will also have 3,082 square feet of retail space and 37 parking spaces.

*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 seeks developer for old Family Court building, neighboring lot after hotel plans are scrapped

The city is again seeking developers to revitalize the former Family Court building on the Benjamin Franklin Parkway after talks with the Peebles Corp. about turning the property into an upscale hotel ended last year.

The Philadelphia Industrial Development Corp. on Friday issued a request for qualifications soliciting interest in redeveloping the nearly 250,000-square-foot building at 1801 Vine St. The redevelopment opportunity also includes a neighboring 88,000-square-foot lot at 1901 Wood St. that is currently managed by the Philadelphia Parking Authority.

The lot was previously held for the expansion of the Free Library of Philadelphia’s Parkway Central Library. The city says it is exercising its right under its contract with PPA to now offer the property for development. Interested developers must include the library’s plan for a 60,000-square-foot children and family center, auditorium, storage, and relocation of administrative office space into their project.

*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.

Philly Land for Lease in Langhorne on PA Route 213

1862 East Lincoln Highway Langhorne, PA 19047

Wolf Commercial Real Estate, the foremost Philly commercial real estate broker that specializes in Philly commercial real estate listings and services, is now offering Philly land for lease just off U.S. Route 1 on PA Route 213 in Langhorne PA.

This land for lease in Philly is a paved and leveled one-acre lot with 120 feet of frontage on East Lincoln Highway. This land for lease in Philly at 1862 East Lincoln Highway Langhorne PA is in a high-traffic area and there are excellent development opportunities at this Philly land for lease.

Please call for the asking lease price for this land for lease in Philly at 1862 East Lincoln Highway Langhorne PA. This Philly land for lease is available through Wolf Commercial Real Estate, a Philly commercial real estate brokerage firm with expertise in Philly commercial real estate listings and services.

This land for lease in Philly is near the Langhorne Square Shopping Center, Jefferson Health System, and the Oxford Valley Mall. This Philly land for lease at 1862 East Lincoln Highway Langhorne PA offers easy access to Interstate 295 and the Pennsylvania Turnpike in addition to Route 1.

Nearly 223,000 residents live within five miles of this land for lease in Philly.  The average household income in the same radius of this land for lease in Philly 1862 East Lincoln Highway Langhorne PA is $87,874.

For more information about this Philly land for lease at 1862 East Lincoln Highway Langhorne PA or about any other Philly commercial properties for sale or lease, please contact Sean Kelly (856-630-5806; sean.kelly@wolfcre.com) or Phil Costa (215-799-6195; phil.costa@wolfcre.com) or at Wolf Commercial Real Estate, a Philly commercial real estate brokerage firm.

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

Goldenberg Puts Up for Sale a Prime Center City Development Site

Philly Land Site

Goldenberg Group has put up for sale 727-735 Chestnut St., a five-story parking garage that is viewed as more valuable as a potential development site.

The property totals 19,606 square feet and, in addition to the garage, has street-level retail space. It is bound by Chestnut, 8th and Ranstead streets, including corners at both 8th and Chestnut and 8th and Ranstead.

Goldenberg has had recently received unsolicited offers for the property and that led the company to reevaluate holding on to it.

“As a developer, it wasn’t our intention to sell, but we realize that we can’t develop every site that we own simultaneously,” said David Mercuris, senior vice president at Goldenberg. “In addition, values of well-located development sites in Center City are at an all-time high and we understand that. Consequently, we concluded that the timing is right to offer this for sale.”

Goldenberg, a Blue Bell real estate company that develops retail, multifamily and mixed-use development, bought the garage in 2013 for $7.8 million, according to Philadelphia property records. The property is zoned CMX-5, which allows for the densest development. A maximum of 392,120 square feet could get built on the site, which would have to go through an approval process before anything is built.

The property abuts Thomas Jefferson University’s campus and four blocks away from Jefferson Health’s $762 million, 19-story Specialty Care Pavilion at 11th and Chestnut streets that is under development. The project alone is expected to spur more development, retail and restaurant activity.

Chestnut Street east of Broad Street has seen more developer attention in recent years, providing momentum to a retail corridor that had been blighted and struggled.

After developing the Market Street side of its development — East Market — National Real Estate Development has turned its focus to the Chestnut Street side of what had been referred to as Girard Square, which is where Jefferson Health’s tower is under construction.

The garage that is up for sale sits across from an expansive surface parking lot that Goldenberg owns at 8th and Market streets and has floated various development ideas including what many know as the DisneyQuest entertainment complex. At one point, Goldenberg sought a casino license to kick off a new project at 8th and Market.

“It’s a once-in-a-generation site and we intend to develop it, so it’s not on the market for sale,” Mecuris said.

When that site might get developed or what will go there hasn’t been disclosed. The company is also working on a development plan for 500 S. Broad St. in Center City.

*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.