10 — May 2025 — Pennsylvania — M id A tlantic Real Estate Journal
www.marej.com
P ennsylvania
NAI Mertz announces sale of 60,000 s/f flex facility
Ensemble and Mosaic lead 295-acre redevelopment Philadelphia Navy Yard sets LEED-ND record
HILADELPHIA, PA — Ensemble Invest- ments (Ensemble) and Mosaic Development Part- ners (Mosaic) announced that a significant portion of the Philadelphia Navy Yard has become officially certified by the US Green Building Council (USGBC) as the largest LEED Neighborhood Development (ND) in the United States, achieving LEED-ND Gold Cer- tification. Philadelphia’s first LEED-ND spanning multiple buildings encompasses 295 acres of the Navy Yard contain- ing 39 existing buildings and 38 buildings-to-be developed. The LEED-ND area covers a major- ity of the Navy Yard land east of Broad St. and includes all of Ensemble’s existing buildings and the 110 acres that Ensem- ble and Mosaic, in partnership with the Philadelphia Indus- trial Development Corpora- tion (PIDC) , are developing as part of the transformation of the Philadelphia Navy Yard. The Navy Yard is a 1,200-acre business community where 150 companies occupy over 7.5 million s/f of office, industrial/ manufacturing, and research and development space. Politico has called the Navy Yard, “the coolest shipyard in America,” and many industry observers, including the Urban Land Institute , have recognized the community as a leading model for repurposing mili- tary and industrial assets to attract a diverse set of com- panies and institutions. In 2022, Ensemble, Mosaic, and PIDC unveiled an ambi- tious 20-year plan for the Navy Yard to leverage the Navy Yard’s past corporate successes and transform the property into Philadelphia’s newest neighborhood, includ- ing residential, office, research & development, advanced manufacturing, retail, and hospitality. Ensemble and Mosaic’s portion of the 2022 plan includes 8,000,000 s/f of LEED-certified buildings, 3 million s/f of which is ear - marked for the development of life science facilities, through a strategic partnership with Oxford Properties , a global real estate investor, developer, and manager. This year, the Navy Yard will welcome the first non- military residents in its his- tory with the introduction of AVE Navy Yard, a $285M P
411 Sinclair Rd.
Bristol, Lower Bucks County.” 411 Sinclair Rd. is a modern, predominately one story with
BRISTOL, PA — NAI Mertz announced that the NAI Mertz Licht Team, Jeff
partial office mezzanine, 60,000 s/f + flex/indus- trial facility situated on 4.75 acres. It is situated at the Bristol exit of I-95
and Jared Licht , has sold a 411 Sinclair Rd., a 60,000 s/f flex/industri - al facility lo- cated within the Keystone Industrial
Philadelphia Navy Yard
mixed-use development comprised of a two-building complex including 614 apart- ments and 25,000 sf of retail, which Ensemble and Mosaic are developing in partner- ship with Korman Com- munities . The LEED-ND certification clearly cements the Navy Yard as the most sustainable and forward- thinking neighborhood in the City of Philadelphia. The effort to achieve LEED- ND by Ensemble and Mosaic ensures that the Navy Yard development will reduce en- ergy and water consumption, provide safe sidewalks and accessible public transit op- tions, promote preservation and adaptive reuse, and focus on the health and wellness of the people who live, work, and visit the Navy Yard. A key element evidencing the commitment to providing a unique and exceptional experience for all is that all existing and planned build- ings are within a half-mile walking distance of a park or recreation area, giving the thousands of residents and employees at the Navy Yard access to green space. The LEED-ND Gold certifi - cation recognizes and certifies that the highest levels of re- sponsible and sustainable de- velopment, as well as the suc- cessful protection and enhance- ment of overall health, natural environment, and quality of life, have been reached. “Although Re:Vision has consulted to help many indi- vidual buildings at the Navy Yard achieve a high level of sustainability, the LEED Neighborhood Development work means the commitment to sustainable practices does not end at the building, but it extends to everything in
between,” said Scott Kelly , founding partner of the Sus- tainable Design Consultant firm of Re:Vision Architec- ture. “As more companies and people move to the Navy Yard, this certification pro - vides validation that we are located in a built environment that is healthy, responsible, and vibrant.” To achieve LEED-ND Gold certification, Ensemble, Mo - saic, and Re:Vision addressed requirements in three catego- ries: Green Infrastructure & Buildings: This credit category focuses on measures that can reduce the environmental con- sequences of the construction and operation of buildings and infrastructure. Sustainable building technologies mini- mize waste and use energy, water, and materials more efficiently than conventional building practices. Smart Location & Linkage: This credit category focuses on a selection of sites that minimize the adverse en- vironmental effects of new development and avoid con- tributing to sprawl and its consequences. To reduce the impact of sprawl and create more livable communities, preference is given to loca- tions close to existing town and city centers, sites with good transit access, infill sites, previously developed sites, and sites adjacent to existing developments. Neighborhood Pattern & Design: This credit category emphasizes the creation of compact, walkable, vibrant, mixed-use neighborhoods with good connections to nearby communities. These neighborhoods provide many essential advantages to resi- dents, employees, visitors, and the environment. MAREJ
Jeff Licht
Jared Licht
and within minutes of Route 13, 413 and the Pennsylvania Turnpike. The building can be leased in its entirety or de- mised in half to accommodate two 30,000 sf tenants. The space boasts 26’ ceiling height, 2500 amps of power, tailgate and drive-in loading. It has been home to Estee Lauder for thirty years. Faropoint is repositioning both buildings within the industrial complex. James Calamia , senior associate at Faropoint said, “Following the kick-off of construction at 150 Rittenhouse Circle, our Faropoint team is excited to announce our second reposi- tioning project has begun at 411 Sinclair Rd. This project aligns with our commitment to delivering modern, high-per- formance industrial spaces in key logistics corridors.” MAREJ
Park in Bristol, to Faropoint . This is the second facility that the Licht team has sold in the last three months within the Keystone Industrial Park in Bristol to Faropoint. The second facility was 150 Rit- tenhouse Circle, a 101,250 s/f flex/industrial facility. The Licht team has been retained as exclusive leasing/marketing agents for the two properties. Jeff Licht, executive VP and managing director, said “We are pleased to sell these two exceptional flex/warehouse facilities to Faropoint. We had fantastic interest in these two first class assets and Faropoint prevailed after differentiating itself with the seller in their purchase of 150 Rittenhouse. Faropoint can now offer 30,000 to 160,000 s/f of industrial/flex space to companies seeking first class institutional space in
Trophy CRE LLC debuts with a focus on Philly’s apartment & development market
Thom and Tashayyod have successfully closed over 2,000 apartment units and more than $167 million in transac- tion volume. After collaborat- ing on deals for years, the pair launched Trophy to align their values and build a client-first business from the ground up. Reflecting on their profes- sional journey, Tashayyod shared: Saam Tashayyod, co- founder and managing director: “Our partnership really grew organically over the years. After completing 11 deals to- gether and realizing we were often serving the same clients, it just made sense to formal- ize the collaboration and build something with intention. Tro- phy is the result of that shared vision.” MAREJ
PHILADELPHIA, PA — Trophy Commercial Real Estate LLC , a middle-market brokerage specializing in the sale of apartment buildings and development, announced its official launch. Headquar - tered in Philadelphia and serv- ing the broader Mid-Atlantic region, the firm provides in - vestment sales and advisory services focused on multifam- ily and mixed-use properties. Founded by seasoned indus- try professionals Craig Thom and Saam Tashayyod, Tro- phy Commercial Real Estate LLC is built on a commitment to deliver institutional-quality brokerage with the personal- ized attention of a boutique platform. With nearly two de- cades of combined experience,
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