Northeast Real Estate Business

NOV-DEC 2015

Northeast Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Northeast United States.

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Page 23 of 64 Northeast Real Estate Business • November/December 2015 • 23 P E N N S Y LVA N I A & D E L A WA R E You're in good company... • Located in Densely Populated Queens County • A mix of National and Specialty Retailers, Restaurants, Professionals and an AMC Multiplex Theatre • Easily accessible from the Cross Island Parkway and the Clearview Expressway For more information please contact: Cord Meyer Development LLC Patricia Walsh: 718.947.7110 or Corner of Bell Blvd. & 26th Ave., Bayside, NY PRIME REAL ESTATE AVAILABLE SPACE FOR LEASE plus many others... THE WATERFRONT DEVELOPMENT CO. BREAKS GROUND FOR $400 MILLION MIXED-USE DEVELOPMENT ALLENTOWN, PA. — The Waterfront Development Co. has broken ground for a $400 million mixed-use devel- opment along the western banks of the Lehigh River in Allentown. Span- ning 26 acres, the project will include six offce buildings, including the 157,498-square-foot 615 Waterfront Drive and the 131,457-square-foot 645 Waterfront Drive; three residen- tial complexes, totaling 425 market- rate apartments; three parking struc- tures; a main street and half-mile River Walk. Additionally, each of the 12 new buildings will offer retail and restaurant space. The development company comprises Jaindl Properties LLC, Dunn Twiggar Company LLC and Michael Dunn Co. LTD. Site-wide infrastructure is slated to take approxi- mately 18 months, though building construction will be phased in and be- gin at any time during that timeframe. The project is expected to take approx- imately eight years for full build-out. TARGET TO OPEN TWO SMALLER STORE LOCATIONS PHILADELPHIA — Metro Commercial Real Estate Inc. has brokered two deals for Target in the Center City area of Philadelphia. Pearl Properties is devel- oping an approximately 23,000-square- foot site at 1900 Chestnut, and The Brickstone Companies is developing an approximately 22,000-square-foot site at 1112 Chestnut. Both stores, which will be confgured as smaller versions of the traditional Target store format, are currently under construc- tion with openings planned for 2016. Tom Londres and Steve Niggeman of Metro Commercial represented Target. BLOOMINGDALE'S OUTLET TO OPEN IN PHILADELPHIA PHILADELPHIA — Bloomingdale's The Outlet Store, a brand of Macy's Inc. will open at the Shops at Liberty Place at 1625 Chestnut Street in Phila- delphia. The 20,000-square-foot loca- tion is scheduled to open in December. Michael Salove and Brittany Goldberg of MSC Retail exclusively represent Macy's Inc. in the Greater Philadelphia region. SWOPE LEES BROKERS SALE OF INDUSTRIAL PROPERTY WEST GOSHEN TOWNSHIP, PA. — Swope Lees Commercial Real Estate has brokered the sale of an industrial fex building located at 909 Camaro Run Drive in West Goshen Township for an undisclosed sum. The property features two loading docks, ample parking and space for a 3,000-square- foot expansion. Frank Lamarr of Eq- uitrust LTD and Jim Lees of Swope Lees arranged the sale. The names of the seller and buyer were not released. DERMODY, PCCP BREAK GROUND ON 405,000 SF DISTRIBUTION CENTER UNION TOWNSHIP, PA. — Dermody Properties and PCCP have broken ground on LogistiCenter 78-81 in Union Township. Situated on 43 acres at the intersection of I-78 and I-81, the facility will feature 405,000 square feet of industrial space. The property will be a front-load distribu- tion building with a separate lot providing parking. Ad- ditionally, the facility will feature 36-foot clear heights, 81 dock doors, 60-foot loading bays and parking for 220 cars and one extra trailer parking space per dock door. Comple- tion is slated for spring 2016. R.S. Mowery & Sons Inc. is serving as the general contractor for the project. PATTERSON-WOODS FACILITATES $1 MILLION SALE OF RETAIL BUILDING IN DELAWARE WILMINGTON, DEL. — Patterson-Woods Commercial Properties/CORFAC International has brokered the sale of a retail property located at 3805 Concord Pike in Wilming- ton. C&J Commercial LLC sold the 2,400-square-foot prop- erty, which was formerly a four-bay auto repair shop, to Delaware-based Half Acre Cap LLC for $1 million. Charles Woods of Patterson-Woods represented the buyer, while Long & Foster represented the seller in the transaction.

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