Please enjoy this week’s edition of Capstone Law’s Philadelphia Real Estate Trends: The death knell finally sounds for Girard Square — the 1970s-era single story retail strip located on Market Street between 11th and 12th Streets. This property — located within shouting distance of City Hall and the Pennsylvania Convention Center — has long been home to dollar stores, highly discounted clothing stores, and other low-rent district uses. The property’s owners already terminated the existing tenants and …
Restructuring Phila.’s Business Taxes; Hope for Vacant Land; and Improving Independence Mall
Please enjoy this week’s edition of Capstone Law’s Philadelphia Real Estate Trends: The Philadelphia City Council Finance Committee approved a bill that, if ultimately adopted, would substantially restructure the city’s business tax system. The bill intends to eliminate the net income portion of the dreaded Business Income and Receipts Tax in favor of increasing the gross receipts tax over a five-year period. According to its …
National Investors Invade Philadelphia; Land Bank for Vacant Properties; and Famous Chefs Enter South Jersey
Please enjoy the Halloween edition of Capstone Law’s Philadelphia Real Estate Trends: National investors continue to flock to Philadelphia’s multi-family assets. This past summer, Chicago-based The John Buck Company opened its 34-story luxury apartment complex at 2116 Chestnut Street. On the heels of the JBC investment comes word this week that Los Angeles-based Lowe Enterprises Investors acquired the Granary from Philadelphia’s Pearl Properties for approximately $120 …