This Week's Philadelphia Deal Sheet
Brandywine Realty Trust and the Gotham Organization launched leasing for Avira, the residential portion of the first ground-up development within Brandywine's Schuylkill Yards.
Gotham led the residential development at the 18-story, 326-unit Avira as a partner with Brandywine, which is leading development of the 10-story podium on which Avira sits at 3025 John F. Kennedy Blvd. The 200K SF podium is set to contain life sciences or office space but has yet to announce any tenants as residents prepare to move in later in the summer.
Avira's amenity spaces, designed by CetraRuddy, include a roof deck below its apartments that will also be available to commercial tenants from below. Avira represents the New York-based Gotham's first project in Philly.
As Schuylkill Yards progresses, 3025 JFK will eventually be surrounded by over 6 acres of green space, including High Line Park, which is situated underneath the freight rail line that runs through the east side of University City.
SALES
Dermody Properties acquired a fully entitled development site for a 214K SF distribution center at 261 Swedesboro Paulsboro Road in Woolwich Township, New Jersey, for an undisclosed price. Delivery is expected by the middle of next year on the building, which is planned to have 40-foot clearance height and 39 dock doors.
The seller, Arbok Partners, purchased the land, formerly a missile defense base, for $2.7M in 2021 and gained local approval for development a year later, the Cherry Hill Courier-Post reported at the time. Cushman & Wakefield's Gerry Blinebury, Gary Gabriel, Kyle Schmidt and Brendan McGeary represented Arbok in the transaction.
LEASING
Southern Land Co. landed Boqueria, a Spanish-style tapas restaurant chain founded in New York, as its ground-floor retail tenant at 1620 Sansom St., its second high-rise apartment building around Rittenhouse Square. Boqueria Philadelphia, the company's first Pennsylvania location, will occupy 5K SF when the property opens, which is expected to be in late 2024.
CONSTRUCTION
Mayor Jim Kenney, District 1 Councilmember Mark Squilla and representatives for Cordish Cos. broke ground Wednesday on the redevelopment of Lawrence E. Murphy Recreation Center at 300 Shunk St. in South Philly's Whitman neighborhood.
In addition to infrastructure improvements, the renovation of Murphy Rec Center includes new turf fields for soccer, football, baseball and softball, improvements to the basketball court, combination soccer-football goalposts, bleachers, team benches and a prefabricated storage building.
The $7.5M renovation, part of Kenney's Rebuild initiative to update public parks and facilities across the city, includes a $750K contribution from Live! Casino and Hotel Philadelphia, developed by Cornish at the northern edge of the South Philadelphia Sports Complex.
