11-10-17

P ennsylvania

S hopping C enters

Real Estate Journal — Pennsylvania — Section C

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M id A tlantic

Four-building apartment community located at the foot of City Avenue Post Brothers completes $100 million redesign & renovation of Presidential City in Philadelphia P HILADELPHIA, PA — Post Brothers an- nounced that it has fin- ideal for children and family activities.

Maidenberg for his first U.S. project. Maidenberg, who spe- cializes in bringing innovative hospitality design concepts to life in luxury buildings across Paris, designed The Adams’ lobby and model residences The centerpiece of Presiden- tial City’s drastic makeover is Sora Pool Club, the com- munity’s signature resort and leisure space. Imagined as an ideal location for relaxation and recreation, Sora was designed and built with a sleek South- east Asian-inspired aesthetic, mirroring contemporary VIP day clubs and resorts. It’s composed of three outdoor temperature controlled pools, an expansive sundeck area, full outdoor kitchen, as well a rooftop lounge overlooking the pool club. Central to Sora’s allure are three outdoor temperature controlled saltwater swimming poolsopen year-round includ- ing a 75-foot Olympic-sized lap pool, where residents can swim at their leisure; a center lounge pool, perfect for mixing and mingling; and a play pool,

additional loading docks, natu- ral gas conversion, upgraded lighting and power, etc. The property also features a high bay section offering 48-foot to 54-foot clear height with rack- ing in place, a parking lot that can accommodate up to 269 cars, and a rail line behind the building. Located off I-81 in Northeast PA, the warehouse is situated just east of the Wilkes-Barre Scranton International Air- port, and is part of the North- east Industrial Corridor. The Pennsylvania Department of Transportation recently completed construction of a new access road connecting the exit off I-81, directly to Commerce Rd. The new inter- change connects the airport to the surrounding industrial parks, increasing the value of this location. n Indoors, Sora features a well- ness center that’s equipped with top-of-the-line exercise equipment; residents have the option to attend 35 free “Post Fit” fitness classes on a weekly basis, including boot camp classes, spinning, yoga, Pilates, Zumba and personal training services. Residents can also schedule facials, massages and other holistic personal services by appointment at Sora Pool Club’s Spa in one of the relax- ing treatment rooms, or unwind in the tanning beds, dry sauna or co-ed steam room for the ulti- mate pampering experience. A fully stocked and tended juice bar will also opened last year in Sora’s lobby, providing refresh- ing organic cold-pressed juices. Additional recreation services include yoga and Zen gardens, multiple dog parks, basketball courts and daycare. Each of Presidential City’s one-, two-, and three-bedroom residences embody the por- trait of urban class and stylish living. n

HI-LIGHTS November 10 - 23, 2017 Penn’s Northeast submits six sites for Amazon’s 2ndHQ Post Brothers, which special- izes in the creation of innova- tive residential communities in key metropolitan markets, launched a plan in 2014 to perform full gut renovations to ished the $100-million redesign and renovation of Presidential City, the four-building apart- ment community located at the foot of City Avenue. The devel- opment was also recognized as the nation’s top apartment renovation project by Multifam- ily Executive .

Presidential City

PITTSTON, PA — Wood- mont Industrial Partners (WIP) , a development and management firm announced the sale of 1 Commerce Rd. in Pittston. Prior to the sale, Woodmont completed an ex- tensive capital improvement plan to the 437,446 s/f indus- trial building. “The warehouse’s prime location in the heart of the Northeast Pennsylvania mar- ket, along with the new Avoca interchange directly connect- ing Commerce Rd. to I-81, made this an ideal investment opportunity for Woodmont Industrial,” said Woodmont Industrial Partners principal Eric Witmondt . “Industrial submarkets across Pennsyl- vania continue to experience extraordinary demand. At the same time WIP is work- ing to create modern facili- Presidential City, transform- ing each of the complex’s 1,000 apartments into luxurious, high-efficiency residences that provide a rare mix of quality, accessibility and value, and producing an amenity package superior to anything found in the Philadelphia market. “Four years ago, we enacted a vision for transforming what had become a bland apartment complex into a community that set a new standard for high- end living in the region,” Post Brothers CEO Mike Pestronk

said. “Today, following years of dedication, that vision has been fully realized. We’re extremely proud of what our team has achieved in turning Presiden- tial City into a community that rivals the most upscale rental properties in Center City.” The redevelopment of Presi- dential City culminated with the completion of The Adams, the fourth and final building to be redeveloped at the complex. At The Adams, Post Broth- ers tapped internationally renowned architect Philippe

Woodmont Industrial Partners finalizes sale of 437,446 s/f 1 Commerce Rd. in Pittston, PA

2C Burns Scalo to develop Pittsburgh’s Healthiest commercial office located in Oakland

1 Commerce Rd.

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ties through renovation and repositioning and is actively exploring new acquisition op- portunities.” The sale of this building brings WIP’s total transaction volume YTD to 2M s/f. WIP is actively seeking new opportunities either in the form of land and/or exist-

ing buildings in the need of a redevelopment. The former Penguin Ran- dom House site, which served as the company’s book distri- bution center, is one of many properties WIP has upgraded through a capital program in- cluding improvements such as

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