- American City Business Journals•2 months ago
American Water Works Co. Inc. will relocate its headquarters to a new building that will be constructed along the Camden waterfront. The five-story, 222,376-square-foot structure will be constructed by Liberty Property Trust (LPT) and marks the first building to be constructed as part of a $1 billion mixed-use development the real estate investment trust has planned in the South Jersey community. It had been rumored for some time that American Water (AWK) was in talks with Liberty to develop a new headquarters in Camden.
- American City Business Journals•7 months ago
Liberty Property Trust has completed a transaction involving the sale of eight properties for $131.1 million in what is the latest of a series of sales it has made. The company last year was an aggressive seller of properties, having unloaded six million square feet totaling $562 million. Liberty joined two of the region’s other real estate investment trusts — Brandywine Realty Trust and Pennsylvania Real Estate Investment Trust — on recent selling sprees to essentially get rid of lesser quality properties that don’t fit into their respective strategies.
- American City Business Journals•8 months agoEconomic Conference 2016: Real estate execs talk Camden, new construction and other issues facing the region
Among the issues that are on the radar of three of the region's top real estate executives is the uncertainty brought on by a Pennsylvania state budget that has yet to be adopted, continued lack of clear funding sources for the Philadelphia School District and tax policies that deter companies from coming to Philadelphia or staying in the region. In fact, these three executives warned that bold moves made by New Jersey in an effort to make Camden a viable and desirable business location have a potential to lure some businesses to that city this year that will effectively put Pennsylvania and Philadelphia officials on notice and prompt them to revaluate their own economic development strategies.
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