P ennsylvania
S hopping C enters
M id A tlantic Real Estate Journal — Pennsylvania — Section C Bethlehem property sells for $4.75 million Emerald Realty Group reps. buyer in acquisition of 115,425 s/f
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On behalf of High Associates for $12.5 million CBRE arranges sale of West Chester Office Plaza W EST CHESTER, PA — CBRE ar- ranged for the sale
HI-LIGHTS FEBRUARY 9 - 22, 2018 Stephen Marzullo and Adam Silverman of CBRE’s Philadelphia Commercial In- vestment Properties team rep- resented the seller, High As- sociates , in the marketing and sales negotiations. of West Chester Office Plaza — a 116,621 s/f, five building office portfolio in West Chester, West Goshen Township. The portfolio was acquired by Ma- guire Hayden Real Estate Company for a total sale price of $12.5 million.
Avenue - A property
BETHLEHEM, PA — Douglas Kelly,CCIM , and Bradley Christi of Emerald Realty Group in the Lehigh Valley, represented buyer in acquisition of $4.75 million industrial property located at Avenue - A, Lehigh Valley In- dustrial Park 1 in Bethlehem. The 3-building portfolio
totals 5 acres of land: ● Bldg. #1 - 82,100 s/f ● Bldg. #2 - 18,125 s/f ● Bldg. #3 - 15,200 s/f Buyer is planning large scale renovations on the prop- erty. Jeffrey Williams /Cush- man Wakefield represented the seller. n Conley is a graduate of the Pennsylvania State University with a Bachelor of Science in Civil Engineering. She is a member of the Engineering Society of York and volunteers for the United Way of York County Women Living United and the Crispus Attucks Asso- ciation of York as Vice Chair of their Real Estate Portfolio Management Committee. In her free time, Conley enjoys spending time outdoors skiing, biking, hiking, and kayaking. RGS Associates is an award- winning consulting firm of registered landscape architects and civil engineers who pro- vide their clients with creative site design and entitlement services beginning with initial feasibility investigations and continuing through project construction. n ment. Proceeds will support the ACE Alumni Scholarship Fund. The winning team will earn naming rights for an alumni scholarship to be given at the 17th Annual ACE Scholarship Breakfast in May. ACE expects over 250 at- tendees – doubling last year’s number. n ing a focus on servicing their needs.
West Chester Office Plaza
The five office buildings are situated on an 8.3-acre site In other news, Multiple fac- tors are propelling the U.S. life-science industry, and by extension the real estate that supports it, to strong growth, thereby positioning major re- search-and-development cen- ters like Philadelphia for at- tractive growth, according to a new report from CBRE. While many U.S. industries are navigating fundamental disruption, the life-sciences industry – which includes phar- maceuticals, biotechnology and medical-device manufacturing – is on a long-term expansion track. CBRE’s report examines the generators of the industry’s sustained growth, including the aging U.S. population, in- creases in public and private funding, hefty job gains and robust construction of lab and R&D space. “Many solid trends support strong growth going forward for the life-sciences sector, espe- cially in major R&D markets,” said Ian Anderson , CBRE di- rector of research and analysis and lead author of the report. “The Philadelphia region is par- ticularly well-positioned with a strong industry presence in University City, the Route 202 corridor, and the Navy Yard, among others. The market for lab space in these submarkets offers several secular growth drivers and constrained sup- ply.” Greater Philadelphia is one of the nation’s traditional life sciences centers, but is also
reinventing itself as the in- dustry changes. Between 2001 and 2016, it lost almost one third of its drug manufacturing employment, mostly in subur- ban Montgomery and Chester counties where the bulk of Greater Philadelphia’s life sciences industry has histori- cally clustered along the Route 202 Corridor. Over the same time, Philadelphia’s deep pool of R&D talent has remained stable, but is slowly moving from the suburbs to the city’s growing Philadelphia Navy Yard and to University City. CBRE’s report outlines fac- tors expanding the life-sciences market, including the nine-year gain in average life expectancy in the U.S. since the 1960s, rapid advances in life-sciences technology and increases in funding from the National In- stitutes of Health and venture- capital sources. For example, venture capital investment in the U.S. life-sciences industry now is 53% greater than 10 years ago. “When you look at the land- scape of investment opportuni- ties within the commercial real estate sector, few asset classes offer as compelling a case for near-term optimism as the life- sciences industry,” said Scott Marshall , CBRE president of Advisory & Transaction Services | Investor Leasing. “Our team has analyzed the labor trends and found that, especially in MAand CA, there are significant growth opportu- nities within the life-sciences industries going forward.” n
RGS Associates, Inc. hires Conley
Mericle’s Besecker coordinates 80,880 s/f lease transaction
LANCASTER, PA — RGS Associates, Inc. announced that Kathy Conley has
j o i ned t he firm. Conley has over 20 year of ex- perience in Civil Engi- neering with a d e m o n - strated his- tory of work-
MSC Retail welcomes The Learning Experience to Philadelphia 3C
Kathy Conley
ing in the architecture, civil engineering, and land devel- opment industry. As a client manager, Conley will provide vision and leadership to our projects while effectively de- veloping, leading, managing, and coaching a team of skilled professionals. She is respon- sible to ensure the delivery of high quality and cost effective design services by establish- ing close relationships with our clients while maintain- EASTERN PA — The ACE Mentor Program of EPA , the local affiliate of the nation’s fastest-growing industry men- toring program, will host mem- bers and friends of the design and construction community Thursday, 15 February 2018 at 6:00 pm for a repeat of its successful Giant Jenga Tourna-
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ACEMentor Programwill host the design & construction community February 15
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