S hopping C enters P ennsylvania
M id A tlantic Real Estate Journal — Pennsylvania — May 21 - June 17, 2021 — 11B
www.marej.com
Markward Group reps. tenant in 133,055 s/f industrial lease
ANOVA at uCity Square will offer 461 smart apt. units GMH Capital Partners adds new apartment community P
READING, PA — Del Markward, SIOR of Mark- wardGroup , Allentown, PA represented South Atlantic
Center, Reading. CBRE represented the landlord, an entity of Link Logistics, a Blackstone Company . South Atlantic Packaging provides contract packag- ing with a well-trained, scalable workforce to meet their clients’ project needs. South Atlantic Packaging dba ProStar Packaging is expanding operations by strategically opening a new location in Reading; with plans to increase labor, em- ployees, and logistics within the market. MAREJ
Packag i ng Corporation, LLC ( t en - ant ) head- quartered in Raleigh NC, in a l ong - term lease of 133,055 s/f industrial
HILADELPHIA, PA — GMH Capital Part- ners, L.P. (GMH) and Wexford Science & Tech- nology, LLC (Wexford) an- nounced “ANOVA at uCity Square,” - a six-story, innova- tive apartment community in Philadelphia. Located in University City, Philadelphia’s “Cellicon Valley,” ANOVA at uCity Square will offer 461 smart apartment units; 14,000 s/f of ground-floor retail; a 2-level parking garage with 157 spaces; and 12,500 s/f of amenity space for residents. Construction of the develop- ment began in March 2020 and is slated to open in August of 2021. ANOVA at uCity Square is centrally located at 3700 Lancaster Ave. It joins uCity Square - also known as the heart of Philadelphia’s innova- tion district - a 6.5 million-s/f mixed-use community con- sisting of retail, residential, clinical, office, and laboratory space concentrated around an open-air public square. uCity Square provides a place for entrepreneurs and experts to connect and collaborate, and is home to companies including Amicus Therapeutics, NRG, Spark Therapeutics, and Penn Medicine. ANOVA at uCity Square will provide the perfect living option for the neighbor- hood’s growing population of students, young profession- als, and third-shift workers adjacent to Drexel University, University of Pennsylvania, Children’s Hospital of Philadel- phia, Penn Presbyterian Medi- cal Center, and others. “At GMH, we see a tremen- dous value in providing innova- tive and simplified housing that is designed to meet the growing needs of professionals working in the life science sector,” said Gary Holloway, Jr. , president of GMH Capital Partners. “By understanding the needs and busy lives of the innovation district worker and student, GMH is developing and manag- ing communities to provide ef- fortless living to our residents. Through our partnership with Wexford Science & Technology,
Del Markward
warehouse and packaging space at 1091 Arnold Rd. in the Reading Distribution
AnchorHealthProperties invests in 85,242 s/f portfolio acquisition
ANOVA at uCity Square
we believe ANOVA at uCity Square will foster the perfect live-work blend for those entre- preneurs, innovators, health- care professionals, professors, and graduate students learning or working in the heart of Phila- delphia’s innovation district.” ANOVA at uCity Square pro- vides one-of-a-kind innovative apartments, offering an array of comfortable floor plans (fur- nished or unfurnished) includ- ing studios and one- to three- bedrooms that cater to a variety of lifestyles. ANOVA’s smart features include 1-gigabyte, high-speed secured wired and wireless internet in units and throughout the building; smart thermostats and lighting; key- less entry with a mobile video interactive intercom system; Luxer package system; and an EV-charging system. All units are designed with modern, upscale features such as de- signer bathrooms with walk-in showers, in-unit washer and dryers, quartz countertops, and stainless-steel appliances. All units offer floor-to-ceiling operable windows, and select units will include terraces and balconies with amazing views of the city. “Today’s innovation districts have become live, work, play, learn environments that im- prove creativity, productivity, and work-life balance,” said Thomas Osha, Senior Vice President, Innovation and Economic Development at Wex- ford. “ANOVA at uCity provides the connectivity, integration, and quality of life amenities that are in demand by today’s
knowledge workers,” he con- tinued. As a new community cen- tered on both health and well- ness, ANOVA at uCity Square is a certified Fitwell building, providing residents access to state-of-the-art communal ame- nities such as a 2,500 s/f fitness center with a yoga and spin studio; a pool and courtyard with a hot tub; indoor and out- door lounges; and a live-work blend with co-working spaces, soundproof office pods, a cyber cafe with complimentary coffee bar and beer taps, a golf simula- tor, dog washing station, and more. ANOVA residents will also have many perks to com- plement their live-work-play- learn-thrive lifestyles such as refrigerated delivery lockers, climate-controlled storage, grocery deliveries, a hospitality suite for out-of-town guests, dog walking, housekeeping, and laundry/dry cleaning services. Future resident events will be scheduled to ensure those working atypical schedules can still participate. Residents at ANOVA have convenient on-site access to re- tailers and restaurants as well as a bike repair station and on- site BMW i3 car-sharing with a ride-sharing lounge. Designed to look like continuous retail from Lancaster and Powelton Avenues, the ground-floor retail space will be well-lit, providing the street frontage with a com- mercial feel, and passersby will be able to view the property’s large green space, which will be separated by a low fence for resident safety. MAREJ
BALA CYNWYD, PA — Anchor Health Proper- ties (Anchor) has recently invested in a two-building, 85,242 s/f portfolio located in the Bala Cynwyd suburb of Philadelphia. The proper- ties were acquired through a joint venture between its co- managed equity fund, Chest- nut Healthcare Fund I, and institutional equity partner, The Carlyle Group by way of its Core Plus fund. Ben Ochs , CEO with Anchor, said, “this transaction demonstrates Anchor’s commitment to the Philadelphia MSA, as the largest non-health system owner and manager of medi- cal office facilities in the re- gion, with nearly 1,500,000 s/f owned and managed. The Philadelphia MSA continues to be the largest of Anchor’s investment markets in the US by total square footage.” The two adjacent medical office buildings, located at 10 & 100 North Presidential Blvd. (known locally as the Pagoda Building), are situated in an infill corridor along the Schuylkill Expressway and feature close proximity to Main Line Health’s Lankenau 10 North Presidential Boulevard
Pagoda Building
Medical Center, Thomas Jef- ferson’s East Falls Campus, the Philadelphia College of Osteopathic Medicine, and a wide array of retail, residen- tial, and commercial office sites. Originally developed in 1965 and partially renovated in 2009, the two acquired buildings are unique in their focus on clinical medical use in the Bala Cynwyd submarket. Anchor plans to reposition the portfolio as a best-in-class regional clinical medical office destination by investing more than $6 million in significant capital improvements to fully modernize each building. An- chor’s development platform will take the lead in the build- ing redevelopment efforts. Ilya Hvostikov , invest- ments manager, sourced the transaction for Anchor in an off market approach and over- saw the extensive acquisition process. Hvostikov also said, “Philadelphia is one of the most active medical office mar- kets on the East Coast right now and healthcare services have remained an important growth segment serving the residents of this area." MAREJ
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