In this month’s newsletter for the month of July 2026, we at WCRE discuss how in New Jersey, an investment group submits an $18.2 million bid for Atlantic City’s former Club Wyndham Skyline Tower, Meiya Warehousing leases 142,000 square feet of industrial space in Pemberton, and a foreclosure complaint is filed against Showboat Properties LLC.
We also discuss happenings in Pennsylvania where big-box industrial leasing gains renewed momentum, the Shops at Italian Market moves through the approval process in South Philadelphia, Fine Wine & Good Spirits relocates along Chestnut Street, PECO expands its footprint with a 67,000-square-foot office in Malvern, Regal Builders expands plans for a 115-acre mixed-use development at the former Brandywine Hospital campus, and developers seek to terminate a $70 million agreement for Centre Square.
Additional Pennsylvania highlights include warehouse and industrial leases and sales in Northeast Philadelphia and Bridesburg, Thomas Jefferson University expanding to downtown Allentown, an $84 million industrial portfolio acquisition by Speed Bay Warehouse Solutions, a $41.5 million office sale in King of Prussia, and plans for a $200 million entertainment district in Upper Merion Township.
New Jersey Commercial Real Estate Happenings
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Philly Developer Bids on AC Skyline Tower: Philadelphia developer Ira Lubert is part of an investment group that submitted an $18.2 million bid to acquire the former Club Wyndham Skyline Tower in Atlantic City.
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Meiya Warehousing Leases 142,000 SF: Meiya Warehousing secured a lease for 142,000 square feet of industrial space located at 200 S. Pemberton Road in Pemberton, NJ.
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Lenders Move to Foreclose on Showboat: A foreclosure complaint was filed in New Jersey Superior Court in Atlantic County against Showboat Properties LLC and owner Bart Blatstein.
Pennsylvania Commercial Real Estate Happenings
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Big-Box Industrial Leasing Increases: Philadelphia’s big-box industrial market shows renewed leasing momentum, steadily increasing since its 2023 cyclic low.
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Shops at Italian Market Approved: A nearly 28,000-square-foot retail development called Shops at the Italian Market is advancing through the approval process in South Philadelphia.
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Fine Wine & Good Spirits Relocating: Fine Wine & Good Spirits is moving one block west into a 6,000-square-foot retail space on Chestnut Street in Center City.
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PECO Expands Malvern Office: PECO occupied a 67,000-square-foot office building purchased for $6 million in Malvern to expand its real estate footprint.
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Former Brandywine Campus Expands: Regal Builders expanded plans for the former Brandywine Hospital campus into a 115-acre mixed-use development in Chester County.
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Adler & PMC Seek to Exit Agreement: Developers Dean Adler and PMC Property Group are seeking to terminate their $70 million agreement to acquire Center City’s Centre Square.
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NE Philly Warehouse Sells for $16.4M: A 100,000-square-foot warehouse located at 2722 Commerce Way in Northeast Philadelphia sold for $16.4 million.
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Mitsubishi HVAC Leases Industrial Space: Mitsubishi Electric Trane HVAC leased approximately 489,000 square feet of industrial space in Philadelphia’s Bridesburg neighborhood.
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Jefferson University Expands to Allentown: Thomas Jefferson University will establish a four-year regional campus of Sidney Kimmel Medical College in downtown Allentown.
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Bristol Industrial Breaks Ground: Greek Real Estate Partners and Principal Asset Management launched a new industrial development in the Philadelphia region.
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Redevelopment Site Hits Market: A 3-acre redevelopment opportunity at 2509 North Broad Street has been listed for $13.5 million.
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Speed Bay Warehouse Enters NE Philly: Speed Bay Warehouse Solutions entered the Northeast market with an industrial portfolio acquisition valued at over $84 million.
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Brandywine Sells KOP Office for $41.5M: Brandywine Realty Trust sold a fully leased office building in King of Prussia for $41.5 million.
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Armstrong Teasdale Expands: Armstrong Teasdale strengthened its commitment to Philadelphia with a new office location.
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Entertainment District Proposed in KOP: Upper Merion Township is pursuing a $200 million, 16.8-acre entertainment district proposal in the Moore Park business complex in King of Prussia.
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Pearl Properties Advances Jewelers Row Project: Pearl Properties took steps toward developing a 34-story residential tower at 124 and 126 South 7th Street.
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Philly Industrial Pipeline Shifts: The regional industrial development pipeline is shifting south following years of rapid construction.
