More Than 89 Acres Sold At Berks Park 78

Map of Pennsylvania highlighting Berks County

Map of Pennsylvania highlighting Berks County (Photo credit: Wikipedia)

A Reno, Nev.-based real estate development company has purchased 89.22 acres in Berks Park 78 for $7.5 million, the Berks County Industrial Development Authority announced Tuesday.

Gene Preston, partner for the eastern region with Dermody Properties, said the company does not have a prospective tenant for Berks Park 78.

“That’s not atypical for us,” he said. “We are investors in real estate. We like to buy good land sites. This is an outstanding site, we are going to aggressively market the site and we feel fairly confident.”

Pennsylvania and the Berks Park location, in particular, provides strategic infrastructure to be able to move goods to the population base in the northeastern part of the country, Preston explained.

Read more: http://readingeagle.com/article.aspx?id=470238

Business Park To Grow At Former Greater Pittsburgh International Airport Terminal

A new building is in the works at the Airside Business Park in Moon.

Allegheny County Airport Authority board members voted Thursday to lease about 4.5 acres of land at the former Greater Pittsburgh International Airport terminal to Airside Business Park LP, a partnership between the Elmhurst Group and the Erect Fund.

The action clears the way for the partnership to begin work on a 45,000- to 50,000-square-foot building at the site. It will be the first new building at the former airport terminal in six years.

“We’re excited about expanding Airside. It’s been a great success for us and the airport authority. We built it out much faster than we anticipated in the beginning,” said Bruce Longenecker, vice president of operations for Elmhurst.

Read more: http://www.post-gazette.com/stories/business/news/business-park-to-grow-at-former-greater-pittsburgh-international-airport-terminal-683168/#ixzz2QGTvlxZ5

Wynn Project Could Shake Up Philadelphia Waterfront

Map of Pennsylvania highlighting Philadelphia ...

Map of Pennsylvania highlighting Philadelphia County (Photo credit: Wikipedia)

Where North Beach Street twists and turns into Richmond Avenue in Fishtown, the old William Cramp & Sons shipyard has been the envy of developers and dreamers alike.

It’s 60 open acres of Delaware River waterfront, a vast blank canvas.

And the man with all the paintbrushes is Las Vegas resort-and-casino developer Steve Wynn.

Two weeks ago, Wynn finally released his plan for developing the site. Local reaction has run hot and cold.

Everyone agrees that the Wynn project could be a game-changer for the waterfront, finally giving purpose to land that has been idle since after World War II.

Read more: http://www.philly.com/philly/news/local/20130407_Wynn_project_could_shake_up_Phila__waterfront.html#ixzz2Psv6Kxb7 
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Developer Plans Apartments On First Avenue In Downtown Pittsburgh

A map of Pittsburgh, Pennsylvania with its nei...

A map of Pittsburgh, Pennsylvania with its neighborhoods labeled. For use primarily in the list of Pittsburgh neighborhoods. (Photo credit: Wikipedia)

For the past several years, developer Todd Palcic has made his living developing condos and apartment buildings in Downtown’s cultural district. Now he’s taking his talents across town.

Last week, Mr. Palcic completed the purchase of the former Graphic Arts building at 422 First Ave., with plans to convert the eight-story, red-brick structure into apartments.

“I think there’s a need for apartments on that side of town,” he said Thursday.

Mr. Palcic paid $800,000 for the building and another $350,000 for an adjacent lot, which will provide parking for those who eventually will be living in the building. CBRE was the broker in the sale.

Read more: http://www.post-gazette.com/stories/business/news/developer-plans-apartments-on-first-avenue-in-downtown-pittsburgh-682004/#ixzz2PVdnKyme