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More retail layoffs hit region as stores let employees go
News 3 months ago
More retail layoffs hit region as stores let employees go

Primark has laid off 255 employees between its locations at the King of Prussia Mall and Willow Grove Mall. The retailer filed a Worker Adjustment...

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'Busiest three weeks of my career': Chester County economic development chief on efforts to help small businesses
News 3 months ago
'Busiest three weeks of my career': Chester County economic development chief on efforts to help small businesses

Chester County has so far held three, virtual townhall meetings over the last two weeks with elected and economic development officials as a way to...

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'It's always darkest before the dawn': Local developers work to construct a path forward
News 3 months ago
'It's always darkest before the dawn': Local developers work to construct a path forward

The site of the $253 million Arthaus condominium project on South Broad Street has been sealed. Until a week ago, Dranoff Properties' $253 million...

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Philadelphia-area retailers furlough employees, take other cost-cutting measures
News 3 months ago
Philadelphia-area retailers furlough employees, take other cost-cutting measures

Three Philadelphia-area retailers have taken proactive steps to preserve ongoing operations by either furloughing employees, instituting pay cuts,...

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Nonprofit taking space at planned $100M West Philadelphia research hub
News 3 months ago
Nonprofit taking space at planned $100M West Philadelphia research hub

The Wistar Institute has entered into a long-term lease deal for space at the $100 million 3.0 University Place research hub planned for West...

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91-year-old Philadelphia pawn shop adjusts to 'eerie' silence on lively South Street
News 3 months ago
91-year-old Philadelphia pawn shop adjusts to 'eerie' silence on lively South Street

On a normal day, Nat Leonard can look out the window of Society Hill Loan and see the bustling activity generated by South Street's colorful shops...

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PREIT slashes dividend, makes moves to raise liquidity as malls remain closed
News 3 months ago
PREIT slashes dividend, makes moves to raise liquidity as malls remain closed

Pennsylvania Real Estate Investment Trust has slashed it dividend by 90% as part of an effort to raise funds to maintain operations and has sought...

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Cool (Home) Offices: Philadelphia-based Brownstein Group's employees showcase their style
News 3 months ago
Cool (Home) Offices: Philadelphia-based Brownstein Group's employees showcase their style

Welcome back to Cool Offices. We're taking a different route over the next few weeks and will be showing off Philadelphia-area home offices, as...

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Northeast Philadelphia retail center trades for $12M
News 3 months ago
Northeast Philadelphia retail center trades for $12M

Shops at Red Lion, a 24,688-square-foot retail property in Northeast Philadelphia, has sold for $11.97 million. An entity affiliated with Abrams...

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Macy's to furlough majority of its 130,000 workers
News 3 months ago
Macy's to furlough majority of its 130,000 workers

Department store giant Macy's Inc. announced Monday that it will furlough the majority of its workforce of 130,000 as it grapples with the impact...

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Wayne office campus trades hands for $60M
News 3 months ago
Wayne office campus trades hands for $60M

Haverford Properties Inc. has paid $60.8 million for Evolve, a 376,303-square-foot office park off Old Eagle School Road in Wayne. The 12-building...

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Cushman & Wakefield gets One Washington leasing, Lockheed takes space in KoP
News 3 months ago
Cushman & Wakefield gets One Washington leasing, Lockheed takes space in KoP

Cushman & Wakefield has become the leasing agent for One Washington Square, a 20-story, 856,815-square-foot office tower at 510-530 Walnut St. in...

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Wolf orders all 'non-life-sustaining' businesses to close in Pennsylvania
News 3 months ago
Wolf orders all 'non-life-sustaining' businesses to close in Pennsylvania

Gov. Tom Wolf ordered "all non-life-sustaining businesses" in Pennsylvania to close their physical locations beginning at 8 p.m. Thursday for an...

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13 offers in 30 days: Northeast Philadelphia industrial portfolio trades for $25.5M
News 3 months ago
13 offers in 30 days: Northeast Philadelphia industrial portfolio trades for $25.5M

NorthBridge Partners of Boston has paid $25.5 million to buy a four-building industrial portfolio in Northeast Philadelphia. The buildings total...

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Grocery stores adjust hours to accommodate those most at risk for contracting coronavirus
News 3 months ago
Grocery stores adjust hours to accommodate those most at risk for contracting coronavirus

Some area grocery stores are adapting to the outbreak of coronavirus by adjusting their hours and prohibiting customers from bringing in reusable...

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Coming to the office or working remotely: What's the future?
News 3 months ago
Coming to the office or working remotely: What's the future?

There are two significant, and seemingly inconsistent, trends taking place in the office world right now and how this battle shakes out may...

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From a farmer to a dentist, Chester County small businesses desperate to stay afloat
News 3 months ago
From a farmer to a dentist, Chester County small businesses desperate to stay afloat

A chiropractor in West Chester who can't get products to keep his office sanitized, a dentist in Kennett Square who has been notified by the...

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Coronavirus could change legal industry attitudes toward remote working arrangements
News 3 months ago
Coronavirus could change legal industry attitudes toward remote working arrangements

Law firms will surely learn many lessons from the coronavirus crisis, but Glenn Blumenfeld of Tactix Real Estate Advisors believes mandatory remote...

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KoP Mall, other retail centers closed; grocery and home improvement stores see crowds
News 3 months ago
KoP Mall, other retail centers closed; grocery and home improvement stores see crowds

From the mega King of Prussia Mall in Montgomery County to the Exton Mall in Chester County, owners of these sprawling shopping centers were...

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Best Real Estate Deals of the Year: Suburban lease winners
News 3 months ago
Best Real Estate Deals of the Year: Suburban lease winners

ChristianaCare Health System signed a 386,480-square-foot lease at Avenue North in Wilmington. The lease was among the largest to get signed in...

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Dealmaker of the Year: Michael Markman, president, BET Investments Inc.
News 3 months ago
Dealmaker of the Year: Michael Markman, president, BET Investments Inc.

In partnership with Bruce E. Toll, Michael Markman formed BET Investments Inc. in 1998. In that time and under Markman's leadership, BET has grown...

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Best Real Estate Deals of the Year: Retail, city winners
News 3 months ago
Best Real Estate Deals of the Year: Retail, city winners

Best Retail, City | First Place | Giant at 60 N. 23rd St. Giant will bring a two-story, 65,000-square-foot market to the Riverwalk apartment...

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Sky-high hospitality: Four Seasons Philadelphia wins Best Real Estate Deal of the Year
News 3 months ago
Sky-high hospitality: Four Seasons Philadelphia wins Best Real Estate Deal of the Year

When the Four Seasons first arrived in Philadelphia in 1983, room rates ranged from $95 to $145 per night and Isadore Sharpe, founder of the luxury...

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1735 Market St. wins Best Real Estate Deals of the Year for office acquisitions
News 3 months ago
1735 Market St. wins Best Real Estate Deals of the Year for office acquisitions

Best Office Acquisition | First Place | 1735 Market St. Silverstein Properties Inc., in partnership with Arden Group of Philadelphia and Migdal...

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'I was in my office crying and praying': Reading Terminal vendors see empty tables as COVID-19 spreads
News 3 months ago
'I was in my office crying and praying': Reading Terminal vendors see empty tables as COVID-19 spreads

Tootsie Iovine smiled and said hello as she doled out hand sanitizer to customers entering her restaurant at the Reading Terminal Market on...

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PREIT, Urban Outfitters among mall owners and retailers bracing for coronavirus fallout
News 3 months ago
PREIT, Urban Outfitters among mall owners and retailers bracing for coronavirus fallout

On the morning of March 2 at the Diplomat Resort & Spa in Hollywood, Florida, Joe Coradino, CEO of Pennsylvania Investment Trust, was asked what...

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Walnut Street property that once housed Jack Wills comes up for sale
News 3 months ago
Walnut Street property that once housed Jack Wills comes up for sale

The Walnut Street building that once housed British retailer Jack Wills has been put up for sale and will test the investment appetite for retail...

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Johnson Development plans 267,000-square-foot warehouse in Burlington
News 3 months ago
Johnson Development plans 267,000-square-foot warehouse in Burlington

A South Carolina developer plans to build a new 267,000-square-foot warehouse on 59 acres of vacant farmland in Burlington Township. Property...

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American brasserie set to to round out $400M East Market development
News 3 months ago
American brasserie set to to round out $400M East Market development

A new American brasserie and raw bar concept will open its doors this spring on the lobby level of the highly-anticipated $80 million Canopy Hotel...

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New owner of vacant Macy's at Neshaminy Mall is 'open to almost anything'
News 3 months ago
New owner of vacant Macy's at Neshaminy Mall is 'open to almost anything'

Sant Properties, a Philadelphia real estate company, has purchased a vacant Macy's department store at the Neshaminy Mall in Bensalem and has...

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