Commercial Real Estate
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Toll Brothers Sells Second Atlanta Apartment as Multifamily Exit Continues
Toll Brothers has sold another Atlanta-area apartment community, continuing its exit from the sector, writes Tyler Wilkins for The Philadelphia Business Journal. An affiliate of PGIM Real Estate acquired the 290-unit Notion Decatur property for $76 million in mid-December, according to county records. The apartment complex sits just outside downtown Decatur near MARTA’s Avondale station.…
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Joseph Ambler Inn in North Wales Sells to Local Real Estate Investor
After four decades with its original owner, the 52-room Joseph Ambler Inn has now been sold to Milind Satam, Jeetu Satpute and other real estate investors for $5.725 million, plus additional costs, writes Emma Dooling for the Philadelphia Business Journal. The new owner said the property will continue operating as a hotel. As an independent…
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Phoenixville Shopping Center Shadow-Anchored by Acme Supermarket Sells for $7.4 Million
A 33,000-square-foot shopping center near downtown Phoenixville that is fully occupied and shadow-anchored by Acme, sold in November for nearly $7.4 million, writes Erin McCarthy for The Philadelphia Inquirer. The complex changed hands from a Malvern-based private investor to one based in Glen Mills, with both entities structured as limited liability companies in the deal. The corporately owned Acme…
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How Did Philadelphia Beat Out 40 Other Locations for DrinkPak’s Newest Manufacturing Facility?
Philadelphia is the city that canned beverage company DrinkPak chose to build its new coast-to-coast manufacturing network, writes Paul Schwedelson for the Philadelphia Business Journal. In doing so, Philadelphia — specifically the Bellwether District in South Philadelphia — beat out more than 40 other markets and locations across the United States. As a result, Chicago-based…
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Two Major King of Prussia Hotels Hit the Market Ahead of Colossal Year for Tourists
Two well-known King of Prussia hotels are officially on the market, creating a rare investment opportunity in one of Montgomery County’s busiest commercial districts, Emma Dooling for The Philadelphia Business Journal. The Fairfield Inn Philadelphia Valley Forge/King of Prussia and the Crowne Plaza Philadelphia King of Prussia were recently listed for sale after their previous…
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Joseph Ambler Inn in North Wales Sells to Local Real Estate Investor
After four decades with its original owner, the 52-room Joseph Ambler Inn has now been sold to Milind Satam, Jeetu Satpute and other real estate investors for $5.725 million, plus additional costs, writes Emma Dooling for the Philadelphia Business Journal. The new owner said the property will continue operating as a hotel. As an independent…
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Bala Cynwyd Investor Sells North Wales Industrial Portfolio at Nearly 50 Percent Premium
Velocity Venture Partners, based in Bala Cynwyd, has sold a seven-building industrial portfolio in North Wales for nearly 50 percent more than its purchase price from three years ago, writes Paul Schwedelson for the Philadelphia Business Journal. The Montgomery County investor sold the seven industrial properties to NorthBridge of Wakefield, Massachusetts, for $22.2 million. The…
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