16A — December 2024 — Pennsylvania — M id A tlantic Real Estate Journal
www.marej.com
P ennsylvania
Lehigh Valley Underground secures end user WEDCO sells 65-acre property in Wayne County tech park
Hanna Commercial Real Estate announces lease at 211 Tower
PITTSBURGH, PA — Al- lies Health + Wellbeing (Al- lies) has committed to relocate to 211 Tower, a premier office building located in the vibrant East Liberty neighborhood of Pittsburgh; Allies is scheduled to move into the building be- fore the end of 2025. This stra- tegic move marks a significant milestone in Allies Health + Wellbeing’s ongoing commit- ment to expanding its services and enhancing accessibility for the community. “In order to improve health and wellbeing, Allies for Health + Wellbeing (formerly Pitts- burgh AIDS Task Force) pro - vides integrated medical care, supportive human services and community-based education for individuals living with, or at risk of HIV, viral hepatitis or sexually transmitted infec- tions.” said Mary Bockovich, CEO for Allies. “Building on nearly 40 years of experience, Allies provides the region’s most comprehensive treatment and support for people living with HIV, as well as primary and specialty medical care for the community regardless of HIV status.” Managing partner of the ownership entity for 211 Tower, Anthony Dolan , is thrilled to welcome Allies to the building. “211 Tower was fortunate to have experienced gradual lease-up since the beginning of the COVID-19 pandemic, but Allies was by far the larg- est tenant we’ve secured since 2020. The building was a natural fit for the organization as it exists today, but it can ac -
AKE ARIEL, WAYNE COUNTY, PA — Wayne Economic Development Corporation (WEDCO) has completed the sale of 65 acres of property in the Sterling Business & Technology Park in southern Wayne County. The sales agreement for the property was signed in March 2022 with Lehigh Valley Un- derground LLC . The devel- oper worked to secure all the permits and land develop- ment plan approvals needed to develop the property. Five separate lots in the business park were combined to form the 65-acre lot. WEDCO worked closely with the developer during the plan- ning process and to secure necessary permits. Lehigh Val- ley Underground identified an end user for the property and the purchase was completed in November 2024 with the property being sold to PNK P1 LLC . The land development plans for the property allow for up to an 800,000 s/f build - ing up to 60 feet in height and all associated roadways and parking. The proposed building can be used for warehousing, distribution, assembly, or manufacturing purposes. Senator Rosemary Brown provided support throughout this process that resulted in the sale of the property. “The sale of this parcel marks a significant step forward for economic development in Wayne County,” said Senator Rosemary Brown. “I commend L
211 Tower
commodate Allies’ growth over time. It was a perfect fit.” Dolan subsequently con - firmed that the building only has one floor remaining, and securing Allies as a tenant now brings the complex to more than eighty-five (85%) percent leased. Further, he advised that ownership has extended multiple proposals to lease space in the building to potential tenants. 211 Tower offers high-quali- ty office space in support of its mission to provide an afford- able office solution in a prime East Liberty location without compromising on providing state-of-the-art facilities, and high-quality property manage- ment to its tenants. Complete with integral parking, a shared conference space and rooftop deck, and a third-party restau - rant open for lunch, dinner and night-time programming, the building was an ideal choice for Allies Health + Wellbeing’s expanding operations. MAREJ
Sterling Logistic Center rendering
Wayne Economic Develop - ment Corporation for their hard work and dedication to fostering growth in our region. This project showcases the potential of strategic develop- ment to enhance opportunities and improve the quality of life for residents across the area.” State Representative Jeff Olsommer was instrumental in making this project possible and said “I know this will have a very positive impact for our region and I am proud to have worked on this during my time as Sterling Township Supervi- sor and support this project as the State Representative for the 139th District. Congratula - tions to WEDCO for their stead - fast efforts working with the Developers, Sterling Township, and many other stakeholders.” WEDCO executive director Mary Beth Wood acknowl- edged the tremendous help that has been given to the
Sterling Business & Technol- ogy Park by state and local officials. “Senator Rosemary Brown, Senator Lisa Baker, Representative Jeff Olsom- mer, and Representative Jonathan Fritz have been staunch supporters through- out the business park’s many years of development, as have County Commissioners Brian Smith, Jocelyn Cra- mer, and James Shook , and the Sterling Township Supervisors,” said Wood. “We are delighted with this prop- erty sale and look forward to welcoming a new tenant to the business park.” The Sterling Business & Technology Park is locat- ed in Sterling Township in Wayne County, Pennsylvania and offers property zoned for manufacturing, distribution, assembly, warehousing, and many other light industrial uses. MAREJ
Roddy Inc. completes 53,969 s/f lease at 180 Rittenhouse Circle, Bristol, PA
Peruto of Marcus & Millichap facilitates $3.6M sale of 21-unit apartment property in Philadelphia
PHILADELPHIA, PA — Marcus & Millichap an- nounced the sale of Lofts at
Henry Hall, a 21-unit apartment property lo- cated in Phil- adelphia. The property sold for $3.6 million. “We were
Keystone Industrial Park
BRISTOL, PA — Roddy Inc. announced that it repre- sented Gentell in leasing the 53,969 s/f modern one-story building located at 180 Ritten- house Circle, Keystone Indus - trial Park, Bristol. In a separate transaction, Roddy brokered the investment sale of the AutoParts Ware- house Headquarters Facil- ity – a one-story building with two-story office area of ±55,919 s/f situated on 11.92 acres – to 355 S Flowers Mill Road LLC on behalf of Bugg, LLC.
Frank Roddy , president of Roddy Inc. who brokered the sale, advised that AutoParts Warehouse have occupied the property since 1997 and plan to continue its operations at 355 S Flowers Mill Rd., Langhorne, PA on a long-term basis under the new ownership. The one-story mostly clear span building with two-story office area is heated and sprin - klered throughout and offers ceiling heights from 15’9” to 38’7” clear, and six drive-in doors. MAREJ
Vince Peruto
excited to see the high level of activity surrounding this deal and are glad we were able to cross the finish line,” said Vince Peruto , associ - ate. “Demand for multifam - ily assets in Philadelphia remains strong, especially in quality submarkets with
Lofts at Henry Hall
strong tenant demographics.” Peruto, investment specialist in Marcus & Millichap’s Phila- delphia office, had the listing to
market the property on behalf of the seller, V2 Properties , and procured the buyer, Felic - ity Street Investments. MAREJ
Made with FlippingBook - Online catalogs