MPN Realty

In The News

News

Boyd Theater Becomes Victim

PHILADELPHIA -- The historic Boyd, one block off Rittenhouse Square on Chestnut Street, has always had a devoted fan base who wanted to see the Art Deco theater preserved and Hal Wheeler stepped in to fill that role. After it closed in May 2002, the owner of…
MPN Realty
July 9, 2011
News

Korman Communities buys into the Benjamin Franklin House

PHILADELPHIA -- Korman Communities has taken an ownership stake in the Benjamin Franklin House, a landmark apartment building along Chestnut Street near Philadelphia’s Old City historic area. The Plymouth Meeting apartment owner declined to disclose details of the transaction other than it will take over…
MPN Realty
June 3, 2011
News

Pair of properties change hands

PHILADELPHIA -- Two properties in the heart of Center City’s retail corridor have traded even though the frequency of such sales are few and far between. Pearl Properties, a Philadelphia real estate investor and developer, bought 1510-12 Chestnut St. for $4.2 million from a local…
MPN Realty
May 20, 2011
News

MPN Sells Montrose apartments for $1.4 million.

PHILADELPHIA -- The fine print: DP Partners buys Logan distribution center Here are some recent deals that have me noticing that leasing and sales are starting to pick up: DP Partners bought a 259,910-square-foot distribution center on 14 acres in LogistiCenter in Logan, N.J. DP…
MPN Realty
January 28, 2011
News

Inn on Locust becoming boutique hotel

PHILADELPHIA -- The Inn on Locust, which helped redefine a seedy section of Locust Street in Philadelphia, is set to return to its roots as a boutique hotel after the owner toyed with the idea of converting it into condominiums. AFC Realty Capital Inc. of…
MPN Realty
May 5, 2010
News

AMC Delancey scoops up walk-up apartments

PHILADELPHIA -- AMC Delancey Group Inc., seeking ways to seize on opportunities in a shifting commercial real estate market, has decided to focus on the walk-up apartment. A staple of city living, the walk-up has no elevator and renters must typically walk up stairs to…
MPN Realty
May 3, 2010
News

MPN Sells Does Three Transactions

PHILADELPHIA -- Colorcon Inc. has finalized plans for a new global headquarters in Lower Salford. The company, which makes coatings for candy and medicines, is commencing construction on an 89,000-square-foot building that is designed to partially be built into the side of a hill, making…
MPN Realty
March 31, 2010
News

Sweat Fitness puts muscle behind a new S. Philly gym

PHILADELPHIA -- A dilapidated building off East Passyunk Avenue in South Philadelphia is set to undergo nearly $2 million in renovations to be transformed into a new gym by two local entrepreneurs who are taking a stab at establishing their own fitness franchise. Scott Caplan…
MPN Realty
May 14, 2008
News

MPN Sells Society Hill Furniture

PHILADELPHIA -- Society Hill Furniture, which spent the last 45 years as a mainstay on Chestnut Street in Center City, has closed and the owner has sold the building. The Schaffers, a Philadelphia family, bought 1031-33 Chestnut St. in 1963 and operated its well-known furniture…
MPN Realty
March 10, 2008
News

Three buildings, bought for $8.6M

PHILADELPHIA -- College Manor, a landmark apartment complex in Center City that was constructed at the turn of the 19th century, sold for $8.6 million. College Manor totals three buildings at 9th and Pine streets and Spruce Street and has 86 apartment units. The buildings…
MPN Realty
February 1, 2008
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