12C — September 13 - 26, 2019 — Pennsylvania — M id A tlantic
Real Estate Journal
www.marej.com
P ennsylvania
Keystone Property Group acquires Four Falls Corporate Center
New development will have 229 active adult units SVN| Imperial Realty inks sale of 80 acres of land for $5.4M
CONSHOHOCKEN, PA — Keystone Property Group has acquired Four Falls Cor- porate Center in West Con- shohocken. Keystone made the acquisition in a joint venture with Arden Group . Upon completion of the ac- quisition, the developers will embark on a multi-million dol- lar repositioning at the 255,000 s/f office building. Keystone will also relocate its headquarters, currently located at SORA East in downtown Conshohocken, to the building. “We are extremely pleased to have completed the acquisition of this strategic property,” said Bill Glazer , CEO of Keystone Property Group. “Because the building is so highly visible as you enter Conshohocken, the
purchase of Four Falls gives us the opportunity to continue to redefine the Conshohocken of- fice market. We will implement our vast experience transform- ing well-located properties into modern, dynamic environ- ments for 21st century tenants. Coupled with our SORA West development at the gateway to downtown Conshohocken, these two prominently po- sitioned developments will strengthen Conshohocken’s reputation as one of the true trophy office markets in the Northeast.” Built in 1987 and renovated in 2015, Four Falls is comprised of two six-story office build- ings with a full-height, sky-lit atrium lobby over a six-level parking garage. developer by the V i r g i n I s l a n d s Housing Authority ST. THOMAS, USVI — Pennrose has been selected as Master Developer by the Virgin Islands Housing Au- thority (VIHA) for the disas- ter recovery and redevelopment efforts in St. Thomas. The rede- velopment efforts will serve as Pennrose’s first projects in the U.S. Virgin Islands and Carib- bean and is planned for 700 units on St. Thomas. Pennrose will partner with Jackson De- velopment Company on the initiative, a developer located in the U.S. Virgin Islands. After Hurricanes Irma and Maria devastated several Ca- ribbean islands in 2017, the U.S. Department of Housing and Urban Development al- located $243 million of Commu- nity Development Block Grant Disaster Recovery funds to the U.S. Virgin Islands to support long-term recovery efforts, with $32 million targeted for public and affordable housing. “We’re honored to have been selected by VIHA for this criti- cal redevelopment effort and we look forward to working closely with the Housing Au- thority and local community every step of the way,” said Ivy Dench-Carter , regional VP at Pennrose. “Pennrose has a reputation for building high-quality developments that improve lives and trans- form communities. We have every confidence our exten- sive track record of success will support VIHA’s efforts to rebuild as we begin work in the Caribbean.” Pennrose of PA se- lected as master
ETHLEHEM, PA — SVN | IMPERIAL REALTY, one of the nation’s premier net lease bro- kerage firms, has completed the sale of 80 acres of land. Debby Skeans of SVN Impe- rial Realty was the agent in the recent $5.4 million sale of the excess land at Green Pond Country Club. The new devel- opment, known as Traditions of America at Green Pond, will have 229 active adult units set on 108 acres. A gated com- munity, it will have a 7,500 s/f club house, pool, tennis and pickleball courts. Patience and perseverance characterized this transaction. B
Traditions of America at Green Pond
Your success is our highest priority.
Hotel
Multifamily
Education
Commercial
Office/Industrial
Marriott at Penn Square Lancaster, PA
Madison Ellis Preserve Newtown Square, PA
Messiah College Mechanicsburg, PA
Oaks Shopping Center Norristown, PA
Fulton Financial Lancaster, PA
SpringHill Suites Center Valley, PA
Landis Homes Lititz, PA
Elizabethtown College Elizabethtown, PA
The Crossings at Conestoga Creek Lancaster, PA
Post & Schell Harrisburg, PA
Commercial/Industrial
Multifamily/Apartments
Institutions
Hospitality
Mixed Use
Fairfield Inn Harrisburg, PA
The Crossings at Conestoga Creek Lancaster, PA
PA College of Health Sciences Lancaster, PA
Johnson Development King of Prussia, PA
Turkey Hill Dairy Conestoga, PA
www.highconstruction.com SERVING THE MID-ATLANTIC REGION
1853William PennWay, Lancaster, PA 17601 • (717) 291-2276
Made with FlippingBook - professional solution for displaying marketing and sales documents online