COMMERCIAL REAL ESTATE
A hotel owner-operator pegged as the sixth-largest in the United States entered the Philadelphia market with its latest purchase – a 100-room hotel in Bucks County. … MCR, which has offices in New York and Dallas, bought the 100-room Residence Inn by Marriott Philadelphia Langorne at 15 Cabot Blvd East, located less than a mile from the Sesame Place theme park. … Read more at the Philadelphia Business Journal.
American Water Cut the Ribbon on Its New Camden HQ
American Water welcomed hundreds of people to a ceremony Tuesday to mark the opening of its new national corporate headquarters on the Camden Waterfront. The American Water Charitable Foundation presented a check of $200,000 to the Camden School District to develop an advanced STEM Lab at Woodrow Wilson High School. … Read more at NJ Biz.
Malvern’s XyloCor Closes $17 Million Series A Round
XyloCor Therapeutics, a Malvern gene therapy company developing new cardiovascular disease treatments, has closed a $17 million series A financing. The equity financing deal was co-led by Sofinnova Ventures in Menlo Park, Calif., and Life Sciences Partners (LSP), which is based in The Netherlands and has a office in Waltham, Mass. … Read more at the Philadelphia Business Journal.
Expect Retail Expansion to Continue in Center City
The Center City District expects the success of retailers near Rittenhouse Square to continue expanding to the greater downtown, while East Market Street is poised to realize its potential and become a hot new retail area, the group’s annual report concludes. The group cited multiple positive signs: Greater Center City has become the fastest growing residential section of Philadelphia, attracting 26 percent of all those moving into the city in the last five years, the report said. … Read more at Philly.com.