July 27, 2016 |
Mount Laurel, N.J.-based retail brokerage Metro Commercial Real Estate Inc. has moved its Center City Philadelphia operation to a 4,000-square-foot suite at 1760 Market Street, company president Tom Londres said. The move from its previous 1,000-square-foot space in the Wells Fargo Building at 123 S. Broad St. enabled the company to increase its Center City headcount to 12 from four, Londres said Monday. The company is boosting its Center City presence to keep up with the increasing number of transactions it handles in the district, Londres said.
April 16, 2016 |
Community Integrated Services is expanding its operations at 441 N. Fifth St., in Northern Liberties, to about 8,700 square feet, according to brokerage PernaFrederick Commercial Real Estate, which represented the employment-search and -support agency in the lease. CIS, which specializes in job placements for people with disabilities, has occupied about 6,400 square feet in the 80,000-square-foot, four-story building since 2006, PernaFrederick said in a release on Thursday. The lease extends to "the later years of this decade," the brokerage said.
July 28, 2015 |
Mary Ann Mellon Melchiorre, 79, of Ardmore, a mother, lawyer, and brokerage firm officer, died Thursday, July 16, of complications from dementia at Saunders House in Wynnewood. Born in Philadelphia, she was the daughter of Lawrence J. and Kathryn Pizzagno Mellon. Ms. Melchiorre grew up in Colwyn and graduated from West Catholic High School. She went to work for the former Bell Telephone Co. of Pennsylvania, where she met Joseph Melchiorre. The two married and moved to Ardmore to raise a family.
May 12, 2015 |
The U.S. Postal Service 's inspector general recommends that the agency fire CBRE Inc. , the largest U.S. commercial real estate broker, and rebid the company's four-year-old contract for renting new post offices and selling old ones. Inspectors, writing last month, wrote that CBRE's practice of representing private-sector landlords and buyers, while also representing the Postal Service on the other side of the same deals, is "inherently risky" and creates "conflicts of interest.
May 10, 2015 |
The Delaware River pier where the KatManDu nightclub once operated is for sale. Pier 25, now the site of Cavanaugh's River Deck, has been listed by Colliers International, the brokerage said today in a statement. Bids on the 90,400-square-foot property at 417 N. Columbus Blvd., between Waterfront Square and Dave & Busters, are due on August 15, according to Colliers. The property would be well-suited for a residential complex with retail, the brokerage said. Colliers also said it was listing Downey's Restaurant, a nearly four-decade-old pub at Front and South streets.
April 7, 2015 |
One of the nation's biggest retail landlords says it has turned the page on last year's troubles and is ready to grow again. Five months after its stock lost more than half its value in a financial-reporting scandal, American Realty Capital Properties (Nasdaq: ARCP), one of many firms set up by Jenkintown scrap-metal heir-turned-property mogul Nicholas Schorsch, still controls impressive assets: nearly 5,000 Lowe's building-supply stores, Red Lobster restaurants, CVS pharmacies, Citizens Bank branches, and others, totaling over 100 million square feet.
March 26, 2015
M IKE MAHER, 32, of Southwest Center City, is co-founder and CEO of Houwzer. The startup wants to disrupt the residential real-estate-brokerage biz by creating a more competitive marketplace for home buyers and sellers. Maher and his wife, Jennifer, co-founded the Center City co-working space Benjamin's Desk in 2012. Houwzer is located in Benjamin's Desk. Q: How did Houwzer start? A: My partner Kevin Baird approached me in October 2013. He'd been developing townhomes here and was frustrated by big commission checks for real-estate agents when he was doing much of the work.
February 23, 2015 |
Local start-up Houwzer.com is building a real estate brokerage around helping home sellers save money - by selling their houses practically for free. Yes, the real estate commission for the seller's agent could be a thing of the past. Home sellers save the 3 percent commission by listing their property with Houwzer.com, says cofounder Michael Maher. "On a $500,000 transaction, we save the seller $15,000," Maher said. Houwzer.com currently has about 60 seller listings on its site, and anticipates 250 listings in 2015, he added.
November 21, 2014 |
A top financial officer at a Paoli brokerage firm stole $750,000 from the company, spending the money on high-end clothing from Bergdorf Goodman, a vacation in Mexico, and stays at luxury hotels, including New York's Waldorf Astoria. Tracey McShane, 40, of Chester County, was indicted Tuesday on federal charges of wire fraud and filing false tax returns in the theft from Pacer Financial Inc. McShane, who could not be reached for comment, was Pacer's director of financial operations, responsible for bookkeeping, general accounting, and overseeing the payroll.
August 22, 2014 |
Was it sabotage? A federal judge didn't think so. He called it a case of the "broker wars" at the Port of Philadelphia. Ozburn-Hessey Logistics, one of the world's largest third-party logistics companies, sued when 10 employees left to start a rival U.S. Customs brokerage in Philadelphia. Customs brokers help importers clear perishable produce through customs inspections at U.S. ports before it is delivered to grocery stores. Philadelphia is a major perishables port, and about 150 companies ship fresh produce through here, noted U.S. District Judge L. Felipe Restrepo.