PHILADELPHIA — Trenton China Pottery, or what is commonly referred to as “TCP,” sold its Philadelphia property at 2nd and Arch streets in Old City.
A group of undisclosed local investors bought it for $1.4 million and plans to convert the nine buildings that comprise the structure totaling 55,000 square feet. The properties run from 127-37 Arch St. to 101-107 N. 2nd St. The plan is to have residential units on the top floors and retail on the bottom, street-level floor.
TCP, which sells restaurant equipment, put the property on the market eight years ago. The company started in 1927 and had operated out of the Old City building ever since. It is located on Memphis Street in the Port Richmond section of Philadelphia and operates under a new name: Trenton China. Mallin Panchelli Nadel had the listing and sold it in conjunction with Coldwell Banker …
Brandywine Realty Trust reported a tad more than 1 million square feet in leasing activity for the first quarter. That figure includes signed leases, deals that have commenced and those that will go into effect later this year. Some of the transactions in Pennsylvania include First Niagara Bank with 63,096 square feet at 401 Plymouth Road in Plymouth Meeting; Thomas Publishing in 31,976 square feet at One Progress Drive in Horsham; Urdang Capital Management in 22,661 square feet at 630 Plymouth Meeting Executive Campus in Plymouth Meeting; and Triumph Group taking 19,177 square feet at 400 Berwyn Park in Berwyn.
In Center City, Brandywine just lists two deals: Pepper Hamilton renewing 17,085 square feet at Two Logan and Hunter Roberts Constructing re-upping on 11,163 square feet at Three Logan. No word yet on Janney Montgomery Scott taking some floors over at Three Logan. Bradywine saw some activity in South Jersey. The biggest listed was Verizon renewing for 44,078 square feet at 15000 Midlantic Drive in Mount Laurel, N.J. … The Community College of Philadelphia completed a $31 million newly expanded and greened Northeast Regional Center, a 120,000-square-foot project at 12901 Townsend Road in Northeast Philadelphia …
An undisclosed buyer bought the Pearl Pressman Properties around 900 N. 5th St. in Philadelphia for $1.05 million. The properties included a two-story, 31,188-square-foot building and a single-story 9,560-square-foot building. Seamark Associates bought the properties as an investment. Colliers International arranged the transaction … Philadelphia Aids Thrift, a group that raises research money, leased 10,500 square feet of the Kroungold’s Furniture building at 710-718 S. 5th St. in Philadelphia. The furniture store will continue to occupy the remainder off the space. Colliers handled the lease.
Natalie Kostelni, Reporter
Philadelphia Business Journal