P ennsylvania

S hopping C enters

Real Estate Journal — Pennsylvania — Section C


M id A tlantic

Buyer Ivy Realty plans upgrades, full rebranding for 11200 Roosevelt Blvd. campus Cushman &Wakefield’s EDSF group arranges $13.1m in purchase financing for 452,375 s/f industrial asset P HILADELPHIA, PA — Cushman & Wake- field’s Equity Debt &

The fully leased, multi-tenant 11200 Roosevelt Blvd. currently serves as home to the Philadel- phia Charter School and a mix of industrial users. Ivy Realty will infuse $3 million in capi- tal improvements to address deferred maintenance issues – including site work, roofing, painting, and system upgrades – and roll out general enhance- ments as part of the property’s rebranding as Roosevelt Indus- trial Center. “11200 Roosevelt is located in a great area – just off Route 1 and adjacent to a shop- ping center,” Kraft noted. “Ivy Realty will take advantage of existing North and South entrances to distinguish the campus’ educational and in- dustrial components. In the firm’s signature style, new signage, landscaping and other improvements will serve to el- evate this property’s image and competitive positioning.”  and within walking distance of the Radnor train station. Clad in brick masonry and high- performance glass, the building has abundant natural light and views of nature. It is targeted for a sustainability level of LEED Silver. Penn Medicine Radnor will house a heart and vascular cen- ter, comprehensive cancer care, women’s health, orthopedic and rehabilitation medicine, neu- rosciences and other medical subspecialties. An outpatient surgery suite includes six surgi- cal and four endoscopy rooms, along with full radiology and laboratory services. Brandywine Realty Trust will purchase and serve as the designated developer and man- ager of the site and develop ad- jacent office space and a hotel. The PennMedicine at Radnor team includes construction manager IMC Construction; architect Ballinger ; site/civil engineer Pennoni ; m/e/p en- gineer Stantec ; and structural engineer Tim Haahs . 

HI-LIGHTS DECEMBER 14 - 27, 2018 NKF BROKERS SALE OF 1001 ADAMS AVE. FOR $20.0 MILLION EDSF team members John Alascio, Sridhar Vankayala and Zachary Kraft headed the financing assignment on behalf of Ivy Realty, ultimately securing Reinsurance Group of America, Inc. (RGA) as the Structured Finance (EDSF) group has arranged $13.1 mil- lion in purchase financing for Ivy Realty’s acquisition of 11200 Roosevelt Blvd. in Philadelphia. The 452,375 s/f industrial asset will undergo a full rebranding under its new ownership.

11200 Roosevelt Blvd. aerial for industrial product in the Greater Philadelphia/Lower Bucks County region, coupled with our client’s institution- al pedigree and track record

lender. “Ivy Realty capitalized on a value-add opportunity in a thriving submarket,” Alascio said. “Sustained high demand

for successful repositioning projects, led to a competitive marketing process and, ulti- mately, an excellent execution by RGA.”

IMC Construction to build Penn Medicine’s new four-story, 250,000 s/f outpatient facility


PHILADELPHIA, PA — IMC Construction , a full- service construction company, broke ground recently on a multispecialty outpatient facil- ity for the University of Penn- sylvania Health System. The four-story, 250,000 s/f center in Radnor further expands Penn Medicine’s services throughout the region. “This facility will provide exemplary outpatient care and contains all of the services you would find in a hospital setting with the exception of beds for overnight stays,” said Rob Cottone , president and CEO of IMC Construction. “It is a ground-up building, eas- ily accessible by car or public Penn Medicine Radnor rendering



Shown from left: Kevin Kochanski, director of community development, Radnor Township; Lisa Borowski, president, Radnor Township Board of Commissioners; Ralph W. Muller, CEO, University of PA Health System; J. Larry Jameson, MD, PhD, executive vice president, University of Pennsylvania Health System and Dean, Perelman School of Medicine; Kevin B. Mahoney, executive vice president, University of PA Health System and Executive Vice Dean, Perelman School of Medicine; Robert Cottone, president of IMC Construction; and Alex Charlton, PA State Representative.


cent 994-car parking garage are located at 145 King of Prussia Rd., on the former BioMed site

transportation and highly energy efficient.” The health center and adja-


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