MPN Realty

In The News

News

Chestnut Street office building bought for $8.6 million

PHILADELPHIA -- A building along an ever burgeoning Chestnut Street in Center City has traded hands and will likely remain an office building for now. The 15-story, 90,000-square-foot structure at 1201 Chestnut St. was sold for $8.6 million by a private Bala Cynwyd partnership to…
MPN Realty
September 3, 2007
News

MPN: 20,000 Sq. Ft. Medical Building

PHILADELPHIA -- American Equity Development & Management Co. broke ground on a new two-building, 25,000-square-foot office complex in Lower Gwynedd, seeking to seize onto its location near three Montgomery County hospitals. Called Gwynedd Gate, the complex at 1600 N. Bethlehem Pike will aim to attract…
MPN Realty
April 2, 2007
News

MPN Sells 5 Apartment Buildings For $3.65 million

PHILADELPHIA -- Buccini Pollin Group bought Five and Six Executive Campus, an office complex in Cherry Hill for $17.6 million. Brandywine Realty Trust of Radnor sold the two buildings, which total 167,500 square feet. Five Executive, which sits at Kings Highway and Harvard Avenue, totals…
MPN Realty
November 27, 2006
News

East of Broad gets a boost

PHILADELPHIA -- The area called East of Broad Street in Center City, long in the shadow of its more successful, fast-changing brother -- West of Broad -- is on the verge of coming into its own. A bevy of current and anticipated activity covering a…
MPN Realty
September 26, 2006
News

Arts Tower will go condo

PHILADELPHIA -- Crescent Heights has paid $30 million for the Arts Tower, making it the fourth residential project the Miami-based real estate company has taken on in Center City. Crescent Heights plans to convert the Arts Tower, a 16-story apartment building at the corner of…
MPN Realty
July 10, 2006
News

Land Owners ‘Flip’ Projects

PHILADELPHIA -- A budding trend in the Center City real estate scene is putting a new twist on the practice of flipping real estate. While the red-hot real estate market enticed investors to flip -- buying condominiums or fixer-uppers in hopes of seeing values quickly…
MPN Realty
June 6, 2006
News

$7 million sale of the Lincoln

PHILADELPHIA -- One Presidential Blvd., the 120,000-square-foot building in Bala Cynwyd where Aamco Transmissions Inc. has its headquarters, is in limbo. When Aamco announced March 8 that it would be bought out by Cottman Transmission Systems Inc., it meant that Aamco will no longer need…
MPN Realty
March 27, 2006
News

Future of Aamco’s Bala Cynwyd headquarters is up in the air

PHILADELPHIA -- Allan Domb Real Estate bought two buildings along Walnut Street — Philadelphia’s premier High Street retail corridor — from Pearl Properties. The real estate company paid $8.5 million for 1423-1427 Walnut St., a 17,748-square-foot building, and $8 million for 1421 Walnut St., a…
MPN Realty
March 27, 2006
News

Retailer Revival

PHILADELPHIA -- Retail rents along Walnut Street have reached a new threshold -- $100 a square foot and above -- in a clear sign retailers are willing to pay up to reside along a key Center City shopping corridor. The high rents underscore the rise…
MPN Realty
October 24, 2005
News

Moreland sells 1900 Chestnut to Kenneth Gross for $2.78M

PHILADELPHIA -- Moreland Development sold 1900 Chestnut St., a three-story, 7,100-square-foot building in Center City that it bought 14 months ago with the intention of putting in a Walgreens pharmacy. When neighborhood opposition mounted, Moreland decided drop its plans and sell. "We got an offer…
MPN Realty
October 3, 2005
News

$11.5M paid for building that has 15th century Italian flair

PHILADELPHIA -- An architecturally significant structure at 15th and Walnut streets in Philadelphia, the Drexel Building, that was home to one of the city's major financial institutions, was sold for $11.5 million. The deal was between two local private partnerships that didn't divulge their identities.…
MPN Realty
September 5, 2005
News

Full of Old City enthusiasm, Yaron has eye on expanding

PHILADELPHIA -- Yaron Properties is expanding its presence in Old City by adding two additional residential projects, switching its successful Merchants' Row apartment complex into condominiums, and breaking out a new concept for the building that housed MTV's "Real World" cast. Yaron has already amassed…
MPN Realty
August 15, 2005