In this months newsletter for the month of December 2025, we at WCRE discuss how in New Jersey, the Endurance Group sells a facility, a shopping center sells for $32 million, Cirro Logistics leases a warehouse, and a swim school comes to Cherry Hill. We also discuss happenings in PA where Jordan Brands comes to Philly, the Port of Philly secures Mustin Yard, Franklin Mills Mall sells, and DrinkPak plans to invest in Philly, and we also discuss market shifts in New York where Instagram mandates 5 days in the office, Morgan Stanley offloads office space, and Papa Johns plans to open 52 stores.
NEW JERSEY Market Updates
Endurance Group Sells Facility: Endurance Real Estate Group sold East Gate Center in Mount Laurel, New Jersey, for $17.55 million.
Shopping Center Sells For $32m: A grocery-anchored shopping center in Cape May Court House sold for roughly $32 million, according to industry sources.
Cirro Logistics Leases Warehouse: Cirro Logistics signed one of the largest industrial leases of the fourth quarter.
Holly Ravine Farmhouses Demolished: The large yellow farmhouse has stood on a wooded ravine since 1928. That is when Mayor John C. Gilmour Jr. founded Holly Ravine Farm after buying a cow and marrying his girlfriend.
Swim School Comes To Cherry Hill: The Plaza at Cherry Hill, located on Route 38 next to the Cherry Hill Mall, is getting a major façade renovation.
NY Casino Competition For AC: A recent decision by New York regulators could significantly reshape the regional casino landscape and impact Atlantic City’s long-term competitiveness.
Gillian’s Pier Updates: The future of Gillian’s Wonderland Pier took a step forward as Ocean City Council voted to allow the local planning board to begin evaluating potential redevelopment options.
Former Bank: Dunkin’ Conversion: A new Dunkin’ is proposed for Route 70 in Cherry Hill, with plans to convert a former Fulton Bank building into the popular coffee and donut chain.
Former Bank: Proposed McDonald’s: Developers plan a new McDonald’s on Route 73 in Marlton at the former OceanFirst Bank site.
Second Location In SJ For Nordstrom: A Nordstrom Rack store is scheduled to open in Marlton next fall. The location will become the seventh store in the Philadelphia region.
Retail Sites Turnersville Project: Plans are moving forward for a retail development near the Turnersville AutoMall in South Jersey.
Super Wawa Rejected In Voorhees: A proposed Super Wawa on the Voorhees–Berlin border has been formally rejected by the Voorhees Planning Board.
7 Brew Coffee Expands: Expansion across South Jersey is continuing for 7 Brew Coffee. A new location has been proposed for Voorhees on White Horse Road.
Dunkin’ Approved On Route 70: Last week, the Cherry Hill Planning Board voted 5–2 in favor of the project. However, concerns were raised regarding traffic congestion along both sides of the highway.
PENNSYLVANIA Market Updates
Jordan Brands Comes To Philly: Jordan Brand is bringing its globally celebrated “World of Flight” concept to the United States for the first time — and it’s choosing Philadelphia as the launchpad.
Chase Bank Expands Footprint: Chase Bank is accelerating its growth strategy in the Philadelphia region with a major retail expansion set for the end of 2025.
Merion Health Partners Expands: Merion Health Partners is continuing its regional growth with the upcoming launch of its eighth urgent care center, set to open later this month at Roosevelt Mall.
Port Of Philly Secures Mustin Yard: The Port of Philadelphia has finalized the $90 million acquisition of Mustin Yard, a 152-acre industrial site long targeted for expansion.
Enterprise Center Lists Site For Sale: The Enterprise Center has placed a 3-acre development site on the market along the western edge of University City, marking a shift in strategy for the nonprofit organization.
Day & Zimmerman Relocates To Market: Construction and engineering firm Day & Zimmermann will significantly reduce its Center City office space as it relocates next year to
1835 Market Street.
School Acquires Building: The Great Valley School District has approved the $7.5 million purchase of the Westbrook Corporate Center, a nearly 190,000- square-foot office building located at 41 Moores Road in Malvern.
Starr Insurance Expands Footprint: Starr Insurance is set to significantly expand its presence in Center City Philadelphia, leasing the entire 31,600-square-foot top floor of 30 S. 17th Street, also known as Duane Morris Plaza.
Developer Buys Delco Site: A North Jersey developer plans to expand again in Delaware County. Greek Real Estate Partners will build an 81,000-squarefoot industrial facility in Ridley Township.
Montogmery County Complex Sold: Royal Oak Realty Trust acquired a two- building industrial complex in Montgomery County for $29.25 million.
Center City Welcomes 27 Stores: Center City’s retail corridors continue to shift as new businesses arrive and pedestrian activity rebounds.
MLP Sells 3 KOP Buildings: Three buildings in Renaissance Park, including Conshohocken Brewing Co.’s King of Prussia location, sold for $17.5 million.
Medical Office For Redevelopment: A 10-story medical office building in downtown Philadelphia is now on the market.
Velocity Venture Sells Portfolio: Velocity Venture Partners sold a North Wales industrial portfolio at a nearly 50% premium. The firm had purchased the properties three years ago.
Valley Forge Military Academy Sells: Valley Forge Military Academy and College will sell nearly half its campus to Eastern University. The sale follows the academy’s planned closure in May.
NEW YORK Market Updates
Papa Johns Plans To Open 52 Stores: Papa John’s International plans to open 52 new restaurants across the mid-Atlantic region (specifically greater Philadelphia, Baltimore, and Washington, D.C.) by 2030.
NY Office Rediscovers Buildings: The commercial office market is showing a shift in tenant preference, as stabilizing demand and a severely limited supply of premium Class A office space.
Instagram Mandates 5 Days Office: An internal memo from Instagram head Adam Mosseri announced a new policy that requires U.S.-based Instagram employees to return to the office five days a week.
Wellness Center Comes To Brooklyn: Life Time Fitness has secured a lease for a sprawling, multi-level facility at the 175 Third Street development.
Morgan Stanley Offload Office: On December 9, 2025, Morgan Stanley has placed approximately 250,000 square feet of office space up for sublease at One New York Plaza.
Commercial Lease Mandates Office: An opinion piece published in The Hill explores how commercial lease structures are increasingly dictating corporate workplace policies and strict return-to-office mandates.
