12-7-12

R EAL E STATE J OURNAL the most comprehensive source for commercial real estate news

ISSUE HIGHLIGHTS Volume 24 Issue 23 December 7 - 20, 2012 WCRE facilitates 100,000 s/f office complex sale

HILADELPHIA, PA — The Goldenberg Group announces P Project team includes Torcon, JPC Group, WRT, & Bohler Engineering The Goldenberg Group begins $100m mixed-use project at Temple University

The new student residence project team includes Tor- con/ Construction Man- agement , Inc. as general contractor; JPC Group, Inc. as demolition and site contractor; Wallace Rob- erts & Todd as lead archi- tect; and Bohler Engineer- ing as civil engineer. Asset Campus Housing has been selected as the property management company. Financing for the proj- ect was provided by M&T Bank as agent, with Na- tional Penn Bank and Susquehanna Bank as participants. The Golden- berg Group was awarded a $6 million Redevelop- ment Assistance Capital Program (RACP) grant in summer 2011, administered by Pennsylvania’s Office of the Budget for acquisition and construction of regional economic, cultural, civic and historical improvement proj- ects. Bridge financing was made available by the Phil- adelphia Industrial De- velopment Corporation . The original acquisition loan was provided by The

that construction has started on a $100 million new stu- dent residence project at the site of the former JohnWana- maker School, located at 12th St. and Montgomery Ave. near Temple University’s main campus. Redevelop- ment of the two acre site in- cludes plans for a 320,000 s/f, 14-story apt. building that will house 832 beds across 238 residences; 80 parking spaces; and 11,000 s/f of first- floor retail. A groundbreak- ing ceremony took place on November 19, 2012. “We are confident that this new complex will fill a criti- cal need for secure, stylish, and affordable residences for Temple University students,” said Ken Goldenberg , president and CEO of The Goldenberg Grp. “The Gold- enberg Group’s strong track record of completing develop- ments that have transformed neighborhoods and changed lives supports this vision.” Goldenberg added that the redevelopment is a commu-

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Show from left: Kevin Trapper, SVP, Development Director, The Golden- berg Grp. / Reverend Kevin Johnson, Bright Hope Baptist Church / Ken Goldenberg, Founder, President and CEO, The Goldenberg Grp. / Darrell Clarke, Philadelphia City Council President / Shirley Kitchen, PA Senate (3rd District) / Alan Greenberger, Deputy Mayor for Economic Develop- ment & Director of Commerce / Jose Miranda, PA House of Represen- tatives – elect (197th Legislative District) / Karen Stokes, Governor’s Southeast Regional Office Deputy Director / Ken Lawrence, Jr., SVP for Government, Community and Public Affairs, Temple University

Hinerfeld announces three industrial sales

nity effort, citing cooperation from governor TomCorbett , mayor Michael Nutter , city

council president Darrell Clarke , and state senator Shirley Kitchen .

CBRE Group sells state-of-the-art data center in Philadelphia for $65,000,000

the Byberry Industrial Park within the “Greater North- east” section of Philadelphia, Pennsylvania. Robert J. Fahey , executive vice presi- dent of CBRE’s Philadel- phia Investment Proper- ties Institutional Group along with Patrick Lynch , managing director within CBRE’s National Critical Environment Practice Group and Michael B. Harrell, CCIM , senior vice president within Invest- ment Properties in Jack- sonville, FL, represented the seller. Carter Validus Mission Critical REIT, Inc. of Tampa, FL acquired the property for a purchase price of $65,000,000, or $540 psf. Built in 1993, 2000 Kubach Road is a unique, single ten-

PHILADELPHIA, PA — CBRE Group, Inc. an- nounced the sale of 2000 Kubach Road located within

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MAREJ DIRECTORY

Auction News ............................... 4-5A People on the Move ...................... 18A Events ........................................... 20A New Jersey ............................ Section B Pennsylvania ......................... Section C

2000 Kubach Road

Upcoming Spotlight Annual Review — December 21 st

ant, purpose-built, hardened facility totaling approxi- mately 121,000 gross s/f on 25.6 acres. “2000 Kubach Road is a high-quality data center asset, with an intrinsically

valuable location and much sought-after security of a long-term cash flow secured by an affiliate of an interna- tionally-recognized tenant with significant net worth,” Fahey said. n

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