Our team at WCRE discusses the current commercial real estate events that are impacting the Philadelphia and New Jersey markets in our April 2025 newsletter. New Jersey is seeing a mix of development and investment activity, with a focus on both residential and commercial spaces. Ocean Casino Resort in Atlantic City is undergoing a $50 million upgrade, while Cherry Hill is set to see a new 76-unit affordable housing complex at Garden State Park. Additionally, H Mart in Cherry Hill is planning a major renovation, and Deptford Town Center has been sold to an investor for revitalization. Voorhees is also planning a redesign of a problematic intersection. In the commercial real estate sector, WCRE has completed retail transactions at Barclay Farms Shopping Center in Cherry Hill and an investment sale of a multi-tenanted office building in Marlton. However, Atlantic City’s casino profits showed a dip according to the New Jersey Division of Gaming Enforcement.
Pennsylvania’s real estate scene is marked by significant transactions and development projects. In Philadelphia, the owner of 401 Market St. is seeking a discounted payoff on its debt, while several office towers and shopping centers, including Franklin Mall and One South Broad, are up for sale. However, there are also positive developments, such as Velocity Venture Partners redeveloping the former Cardone Industries complex. Penn Medicine has begun construction on a large outpatient center in Montgomeryville and broke ground for its Roberts Proton Therapy Center in University City. Additionally, there have been sales of retail centers in Bucks County and Chester County, and WCRE has completed an office lease in Philadelphia
April 2025 – Philadelphia Commercial Real Estate News
- Philly Office Tower Hits Market
- One South Broad Listed for Sale
- Philly Shopping Center Hits Market
- NE Philly Complex Adds Tenant
- Layoffs Effect Real Estate in Philly
- Company Sells Its Headquarters
- Warehouse Planned Near PHL
- New Parking Garage in Philly
- Developers Slow Projects in Philly
April 2025 – South Jersey Commercial Real Estate News
- Investor Acquires Deptford Center
- WCRE Completes Retail Transaction at Barclay Farms Shopping Center
- WCRE Completes Investment Sale in Marlton
- Renovations at Ocean Casino
- Garden State Park Adds Homes
- H-Mart Renovations & Food Court
- Investor Acquires Deptford Center
- Voorhees to Fix Intersection
- Cherry Hill H-Mart Expansion
- Casino Profits Decline in A.C.
- Philly Chef Plans A.C. Return
- ISRA – Five Things You Should Know
