Press

These are the Best Real Estate Deals and Dealmakers of the Year Award honorees

By Ryan Sharrow

A group of judges have selected the projects being honored as part of our annual Best Real Estate Deals Awards scheduled for March 12. The honorees are comprised across various categories, including best office acquisition, best retail leases in both the city and suburbs, best multifamily development and best hospitality project.

We will also name the best deal of the year.

The Philadelphia Business Journal will announce the first place winner across all of the categories at the March 12 event at the Union League of Philadelphia. All honorees will be recognized.

To view the full article, please click here.

Realen received the 2019 Commonwealth Award for Master Planned Community from 10thousandFriends of Pennsylvania at The Forum Wednesday night. 

The Commonwealth Awards celebrates visionary community leadership and catalytic development projects and initiatives that find new uses for vacant and underutilized land, increase opportunities for communities on the rise, and breathe new life into old neighborhoods. The celebration brings together leading professionals in the fields of real estate development, architecture, engineering, transportation, planning, universities, healthcare, municipal government, and community development.

To visit the 2019 Commonwealth Awards, please click here.

Realen welcomes its newest tenant, Trader Joes, to its Convention Center Parking Facility located at 1324 Arch Street, Philadelphia. 

 

New Trader Joe’s opens in Center City tomorrow

 

By Natalie Kostelni

The Village at Valley Forge, a 126-arce mixed-use community that has provided King of Prussia with a contemporary version of a downtown, has reached a remarkable milestone; The last of its developable sites is up for sale. 

A 3.19-acre parcel referred to as One Market St. that fronts North Gulph Road and is located across from the entrance to the Schuylkill Expressway and Pennsylvania Turnpike has hit the market.  

“It’s literally the last site,” said Dennis Maloomian of Realen Properties, which is the master developer of the Village at Valley Forge. “This is our best site. It always has been.”

Saving the best for last was always part of the development plan for the Village at Valley Forge and it may well be the priciest piece of ground to be sold there. Based on past transactions, prices for land at the development has been steadily rising with each sale and now trades for around $10 million an acre. This parcel has the potential to trade for just as much if not more.

To read the full article, please click here. 

By Natalie Kostelni

One part storage facility, one part fire station. No, it's not something from a Richard Scarry book — it's the latest innovation coming to the mixed-used community Village at Valley Forge.

The new, seven-story building will merge a storage facility operated by Cubesmart (NYSE: CUBE) and an Upper Merion fire station with emergency medical services. The structure was designed to have 98,650 square feet of storage space over six floors and 10,689 square feet on the ground floor that will be dedicated to the fire station. It will be developed on a sliver of land at 400 Guthrie Road.

The hybrid concept has been tried elsewhere, but it's new to the Philadelphia area and may serve as a blueprint for similar projects in the future. 

To read the full article, please click here. 

By Natalie Kostelni

One of the first apartment complexes to be built in the Village at Valley Forge has traded for more than $75 million, according to Montgomery County property records. 

MetLife Real Estate Investors paid $75.33 million, or $221,238 a unit for Hanover Valley Forge, a complex with 339 apartments. The developer of the project was Hanover Properties and Realen Properties, which is the master developer of the Village at Valley Forge. The sale was recorded with Montgomery County in September. 

While there have been land sales in the mixed-use community, this marks the first multifamily sale in the Village at Valley Forge and underscores the price points commanded by the premium properties located within the community.

To read the full article, please click here. 

Realen received a Grandy Jury Award from the Preservation Alliance for Greater Philadelphia for Aloft Philadelphia Downtown.

To view the 2018 Awards Reclamation Projects Video, please click here. 

To view the 2018 Awards Program Book, please click here. 

To visit the 25th Annual Preservation Achievement Awards, please click here. 

The King of Prussia District (KOP-BID) welcomed a sold-out crowd of industry leaders, elected and municipal officials and community partners to the Crown Plaza King of Prussia last week for the release of its 2018 Report to the Community, “Destination: Transformation,” and the presentation of the King of Prussia District Awards.

Economic Development | Realen Properties for The Village at Valley Forge, one of the largest development projects in the Philadelphia region, expertly blending hundreds of thousands of SF of retail and restaurants with commercial office and multi-family residential developments

To visit KOP-BID award receipients, please click the following link.

by Inga Saffron

Liberty Title's restoration has been a long time coming. After the tower was vacated by the city Water Department, and plans were made for expanding the Convention Center, officials wavered on retaining the building. They realized it could serve as an eye-catching spire against the horizontal plateau of the Convention Center. HRI Properties and Realen Properties, who developed the hotel, retained many original details, including the handsome bronze elevator that ferried patrons to the safety deposit boxes.

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By Natalie Kostelni

The Village at Valley Forge is one of the most notable real estate developments in the region and for that reason, it along with its King of Prussia Town Center, have been named the Philadelphia Business Journal’s Project of the Year. We are honored to have been recognized by this prestigious journal for our award winning, new, life-style epicenter, situated in King of Prussia, Pennsylvania, one of the regions most dynamic locations.

To read the full article, please click here.

by ROBERT HUBER

... But King of Prussia is about to change.

A downtown is being built there, and it’s almost finished. It has a Main Street, and a few side streets. It has stores and restaurants, a big-ass LA Fitness and a world-class Wegmans. It sports wide sidewalks and street parking, and — the most important piece — it will be ringed by new apartment houses, condos and townhouses. It will have live music. A farmers’ market will be set up on some Sundays, and there’s plenty of outdoor space simply for sitting, for sipping a drink on a summer evening. It doesn’t have dirt or crime, and there aren’t any plans for it to acquire either.

The new Town Center is the heart of the Village at Valley Forge, a 138-acre site, once a golf course, where some 2,500 residential units are going up, along with office buildings and maybe a hotel...

To read the full article, please click here.