In this month’s newsletter for the month of August 2026, we at WCRE highlight key commercial real estate activity and developments across New Jersey, Pennsylvania, and New York.
In New Jersey, MRP Industrial and Clarion Partners push forward on a massive 728,000 SF speculative warehouse development in Burlington County, while office portfolios in Mount Laurel and Cherry Hill see significant sale listings and Class A lease renewals. Additionally, retail and community developments progress with active farming returning to Holly Ravine Farm and ongoing plans for a Super Wawa on Route 73.
In Pennsylvania, major office and industrial transactions shape the market, including the Philadelphia Department of Aviation’s $42 million airport office purchase, court approval for the $70 million Centre Square sale, and Vanguard Group’s $17 million office complex sale in Wayne. Retail and residential momentum also continue with Trader Joe’s expansion into South Philadelphia and new apartment developments near Temple University.
In New York, Manhattan’s office leasing market continues to capture major deals, led by Comcast Advertising signing a 140,000-square-foot lease at 1540 Broadway in Times Square.
New Jersey Commercial Real Estate Happenings
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Developers Seek Warehouse Tenant: MRP Industrial and Clarion Partners are moving forward with a major speculative 728,000 SF industrial development in Burlington County.
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Three Office Buildings Hit Market ($42M): Three South Jersey office buildings have hit the market with a combined asking price of $41.73 million, including two Mount Laurel properties and one Cherry Hill building.
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Farming Returns at Holly Ravine: Cherry Hill is moving forward with plans to bring active farming back to the historic Holly Ravine Farm property by leasing 9.5 acres of municipally owned land to a farmer.
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Super Wawa on Route 73 Continues: Plans for a Super Wawa along Route 73 near Voorhees and Berlin Township are moving forward again.
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Two Buildings in Laurel Corp for Sale: Whitesell Construction has listed two Mount Laurel office buildings for sale as the developer continues reshaping its local portfolio.
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SJ Production Plant Coming 2027: Symphony Pastries is planning a major South Jersey expansion that could quadruple its manufacturing capacity.
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Medical Office on Route 70 Approved: A longtime bank property along Route 70 in Cherry Hill will soon give way to a new medical office development.
Pennsylvania Commercial Real Estate Happenings
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Dept of Aviation Buys Office Building: Philadelphia’s Department of Aviation has acquired a large office property near Philadelphia International Airport for $42 million.
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Apartment Project at Former Rite Aid: Patriot Development Assoc. plans to construct a 118-unit apartment building at 2301 Walnut Street on a long-vacant former Rite Aid site in Philadelphia.
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Trader Joe’s Coming to South Philly: Trader Joe’s is expanding into South Philadelphia for the first time with a planned store along Columbus Boulevard.
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Grocery Chains Compete for Sites: Grocery chains are competing for prime real estate as residential development reshapes the Greater Philadelphia region.
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Apartment Planned Near Temple: A $69 million apartment development could bring 129 new residential units to a largely vacant North Philadelphia property.
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Centre Square For Sale ($70M): The $70 million sale of Centre Square has received court approval, advancing a major redevelopment opportunity in Center City Philadelphia.
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Vanguard Sells Wayne Office Campus: Vanguard Group has sold a 323,000-square-foot Wayne office complex for $17 million while maintaining its operations at the property.
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Uncle Giuseppe’s Coming to Philly: Uncle Giuseppe’s Marketplace is entering the Greater Philadelphia market with two new grocery stores planned for late 2027.
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JPMorgan Chase Eyes Consolidation: JPMorgan Chase & Co. is preparing to take a full office floor at 2400 Market Street in Philadelphia.
New York Commercial Real Estate Happenings
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Comcast Signs Lease at Times Square: Comcast Advertising is expanding its Manhattan office by signing a 140,000-square-foot lease at 1540 Broadway, ranking among Manhattan’s largest office leases this year.
Recent WCRE Press Releases
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WCRE Represents Landlord in Class A Office Renewal: WCRE announced the renewal of approximately 2,679 square feet of office space at 3000 Atrium Way in Mount Laurel, New Jersey, to Transamerica Life Insurance Company. Executive Vice President Erin Warwick represented the Landlord, Nessel Development.
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WCRE Represents Landlord in Office Lease, Nearing Full Occupancy: WCRE announced the lease of approximately 2,400 square feet of office space at 4 Executive Campus in Cherry Hill, New Jersey, to Rawle & Henderson LLP. Vice President Ryan Barikian represented the landlord, Viking Group.
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WCRE Represents Seller in Brewery Sale: WCRE announced the sale of 1003 N. Evergreen Avenue in Woodbury, New Jersey, a 4,285-square-foot fully built-out brewery formerly home to Eight & Sand Beer Co. Vice President Corey Hassman represented M&B Real Estate Holdings, LLC.
