In this month’s newsletter for the month of June 2026, we at WCRE discuss how in New Jersey, a proposed $17.6 billion casino acquisition could reshape Atlantic City gaming, Cooper University Health Care plans a new $300 million campus in Gloucester Township, Cherry Hill bans future data center development, and Costco Wholesale renews a 100,134-square-foot industrial lease in Logan Township. We also discuss happenings in PA where a fully leased office building in Chalfont sells for $12 million, Vanguard reduces its office footprint by planning to vacate 87,600 square feet in Malvern, Whole Foods Market explores a new location in Fishtown, and Trader Joe’s signs a lease to anchor a planned shopping center along Columbus Boulevard.
New Jersey Market Updates
- Casino Deal Reshaping AC Gaming: A proposed $17.6 billion acquisition could significantly reshape Atlantic City’s casino industry. While the transaction has not yet been finalized, discussions continue to move forward.
- Cooper Health Plans $300M Campus: Cooper University Health Care unveiled plans for a major expansion in South Jersey featuring a new $300 million healthcare campus in Gloucester Township.
- Atlantic City Affordable Alternative: Due to its ideal location and affordability, Atlantic City is drawing renewed interest from visitors and homebuyers as an attractive alternative to other Jersey Shore spots.
- Cherry Hill Bans Data Centers: Township officials in Cherry Hill are actively taking steps to prevent future data center developments within the municipality.
- Memory Care Center Approved: A proposed memory care facility achieved a major milestone in Cherry Hill after receiving unanimous zoning approval for a use variance.
- Ilitch Family Owns Ocean Casino: To support its expanding footprint in the gaming industry, the Ilitch family has launched a brand-new division called Ilitch Gaming.
- Costco Renews Lease in Logan Twp: Costco Wholesale executed a lease renewal for 100,134 square feet of industrial space at the LogistiCenter at Logan in Gloucester County.
- Cross Keys Shopping Center for Sale: Cross Keys Place, a highly occupied retail asset in Sewell that is currently 96% leased, has been officially listed for sale.
- AC Breaks Ground on Dolphin Field: Atlantic City has commenced a $1.33 million modernization and upgrade project at Dolphin Field in the Venice Park neighborhood to benefit local athletes and community programs.
- International Paper to Close: International Paper announced it will close its packaging facility in Barrington, New Jersey, which is expected to impact 126 employees later this year.
Philadelphia/Pennsylvania Market Updates
- Chalfont Office Building Sells for $12M: Highlighting strong investor interest in suburban healthcare real estate, a fully leased office building in Chalfont recently changed hands for $12 million.
- Giant to Open New Store at Andorra: A new Giant grocery store is preparing to open its doors at the Andorra Shopping Center in Northwest Philadelphia.
- Vanguard Reduces Malvern Footprint: Vanguard is scaling back its presence in Malvern by planning to vacate 87,600 square feet of office space at 45 Liberty Boulevard upon its lease expiration at the end of June.
- Mission Critical Group Expands: Texas-based Mission Critical Group is expanding its manufacturing footprint in Southeastern Pennsylvania with a new lease for a 266,000-square-foot facility in Harleysville.
- New York Life Reduces Footprint: New York Life Insurance Co. is downsizing its Center City office footprint by nearly half as it relocates a business unit from Two Liberty Place to Three Logan Square.
- Whole Foods Eyes Fishtown Location: Whole Foods Market is exploring a potential site in Philadelphia’s Fishtown neighborhood, which would mark the area’s first major chain grocery retailer if approved.
- Mitchell & Ness Opens Flagship Store: Ahead of several major sporting events coming to the city over the next year, Mitchell & Ness has opened a new flagship retail location in Center City Philadelphia.
- Alstom Invests $55M in DE Facility: Alstom Transportation expanded its regional rail operations by acquiring a 20.76-acre property in Newark, Delaware, for a new $55 million maintenance facility.
- Philly Medical Investments Increase: While healthcare leasing activity remains soft in 2026, Philadelphia’s medical office investment market has shown noticeable signs of strengthening.
- Philly Life Sciences Market Shifts: As tenant demand softens, property owners in Philadelphia’s life sciences real estate sector are actively reassessing their development strategies.
- BNY Consolidates Philly Area: BNY continues to reshape its local office footprint by planning to consolidate multiple suburban locations into a centralized regional hub.
- Temple University Expands Presence: Temple University acquired a property on North Broad Street for $9.25 million to support its long-term campus development strategy.
- Warehouse Proposed for Former Homes: A new warehouse has been proposed on an 11-acre tract of land that was previously slated for residential development, marking a major shift in the site’s utilization.
- Trader Joe’s to Anchor Philly Center: Trader Joe’s signed a lease to anchor a brand-new retail center being developed along Columbus Boulevard in South Philadelphia.
- Miller’s Ale House Closes in Springfield: Miller’s Ale House has closed its Springfield restaurant, marking the casual dining chain’s second regional footprint reduction this year.
