The Chester County Commercial Industrial Investment Council (CII Council) recently recognized real estate leaders for excellence and collaboration in their transactions last year at the organization’s Annual Meeting and Awards Luncheon at Waynesborough Country Club in Paoli.
“Each year, the Board of CII Council celebrates our members’ successes in closing commercial and industrial lease and sale transactions, including the Best Collaboration Award,” said Philip Earley, President of the CII Council and Principal at Lieberman Earley & Company. “This year is no exception, as those being recognized in each category worked to close over $90,000,000 in transactions in 2022 over various sectors.”
The award winners for 2022 were:
- Office Sale Award: Andrew Turner, Eric Kuhn, and Andrew Carlino for Pillar Real Estate Advisors
- Office Lease Award: Catherine Bianco for Workspace Property Trust
- Retail Sale Award: Andrew Turner for Pillar Real Estate Advisors
- Retail Sale Award: Tommy Ciccarone for Tri State Commercial
- Retail Lease Award: Andrew Turner, Eric Kuhn, and Andrew Carlino for Pillar Real Estate Advisors
- Industrial Lease Award: Catherine Bianco for Workspace Property Trust
- Flex Sale Award: Nick Branton and Jim Lees for Swope Lees Commercial Real Estate
- Flex Sale Award: Andrew Turner, Erick Kuhn, and Andrew Carlino for Pillar Real Estate Advisors
- Flex Lease Award: Sam Sherrill for Hankin Group
- Commercial Land Sale Award: Charles E. Swope Jr. for Swope Lees Commercial Real Estate
- Specialty Office Award: David Partridge for Lieberman Early & Company
- Best Collaborative Use of Members Award: Tommy Ciccarone for Tri State Commercial, Andrew Turner for Pillar Real Estate Advisors, and Mike Young for Westchester EnvironmentalIn addition to the awards program, attendees of the luncheon heard from this year’s keynote speaker, Ward Fitzgerald, the Chief Executive Officer and Senior Managing Principal of EQT Exter. The CII Council annually invites a distinguished speaker to share insights related to commercial and industrial real estate with its members.
“We are honored to have Mr. Fitzgerald as our speaker,” said Earley. “During his leadership of EQT Exeter, founded in 2006, the organization has raised over 20 investment vehicles totaling over $15 billion in equity capital representing pension, sovereign wealth, endowment, insurance, and foundation partners from around the globe. These vehicles have made over 1,000 real estate transactions in the warehouse/logistics and office/life science sectors totaling in excess of $25 billion.”
The CII Council has had many prominent speakers in the past, including economists Mark Dotzour (Texas A&M), Peter Linneman (University of Pennsylvania), and developer Anthony J. Hayden, the Principal and CEO of Maguire Hayden Real Estate Company.
The economic activity in the Chester County real estate market is an indicator of the regional successes for the Greater Philadephia suburban market.
“Chester County’s strong economic position continues to make it a positive place to start and grow businesses,” said MaryFrances McGarrity, Senior Vice President of Business Development Services at the Chester County Economic Development Council. “CCEDC congratulates the members of the CII Council for their efforts in these transactions and for their role in growing the local economy.”
Founded in 1988, the CII Council works to promote collaboration, education, and networking among its members and the business communities they serve. This synergy assures continued success for all and helps keep Chester County one of the fastest-growing, economically-vibrant, and business-friendly counties in Pennsylvania.
Learn more about the Chester County Commercial Industrial Investment Council.
The first phase of Hankin Group’s River Station in Downingtown is nearing completion, and like much of Hankin’s developments, it’s focused on community and people, writes Paul Schwedelson for the Philadelphia Business Journal.
Located on the site of the former Sonoco Products Co. paper mill, the $80 million community sits west of the Boot Road and Brandywine Avenue intersection. According to vice president of development Neal Fisher, River Station is set to be transformative for the borough. The once-dormant land has received a lift that sends a message of success due to its focus on people, not vehicles, said Fisher.
Multiple amenities within walking distance of the community make it alluring to potential residents. Not only is it within walking distance of the Downingtown train station, there are also numerous trails and the Johnsontown Park within reach.
As for River Station itself, the first phase will have three buildings with a total of 203 apartments and 9,300 square feet of retail space. The first building has 64 apartments and 5,100 square feet of retail. The second has 72 apartments and 4,200 square feet of retail. Meanwhile, third building has 67 apartments.
There will be 91 one-bedroom units starting at $1,920 per month. 107 two-bedroom units will start at $2,475. Finally, the only five three-bedroom units will start at $3,500 per month.
Residents could move in as soon as late January or early February.
Phase two of River Station will have 60 apartments and 5,000 square feet of retail space sitting on the east side of Brandywine Avenue. There is no definitive construction start time as Hankin Group will wait on market conditions.
Read more about phase one in the Philadelphia Business Journal.
Philadelphia Business Journal article
Looking out at a parking lot, an apartment building under construction and Johnsontown Park just beyond Brandywine Creek in Downingtown, Neal Fisher saw a burgeoning community he believed could be transformative for the Chester County borough.
While standing inside one of three apartment buildings that are part of the $80 million first phase of Hankin Group’s River Station project, the vice president of development shared why.
“It’s focused on community,” Fisher said during a recent tour of the site. “That’s the type of development we like to build. It’s less focused on vehicles and more focused on people.”
The first phase of River Station is nearing completion and residents could move in as soon as late January or early February. The opening marks a new beginning for the once-maligned property.
Situated on the site of the former Sonoco Products Co. paperboard mill, which sat empty for years, the project is just west of the Boot Road and Brandywine Avenue intersection, near the Downingtown train station and next to trails that traverse the adjacent woods. Hankin Group believes the project has what it takes not only to be successful, but to impact the entire borough of about 8,000 people.
While a train station is already within walking distance via a pedestrian bridge connecting the development to Johnsontown Park, the Pennsylvania Department of Transportation plans to move it even closer on Brandywine Avenue.
Fisher called the project a “true transit-oriented development.”
Once complete, the three buildings comprising the first phase will have 203 total apartments with 9,300 square feet of retail space. The first building has 64 apartments and 5,100 square feet of retail, while the second has 72 apartments and 4,200 square feet of retail. The third building has 67 apartments.
Of those apartments, 91 will be one-bedroom units with a starting price of $1,920 per month; 107 will be two-bedroom units starting at $2,475 per month; and there will be just five three-bedroom apartments starting at $3,500 per month.
The next phase of River Station is planned to consist of 60 apartments and 5,000 square feet of retail on the east side of Brandywine Avenue. Timing of construction will be based on market conditions.
An additional phase, on the site of a current parking lot next to the first three apartment buildings on the west side of Brandywine Avenue, will consist of a fourth apartment building with 154 units.
In the middle of the buildings is a boulevard that will eventually have pedestrian-friendly space and trees. Fisher said Hankin Group plans to make such space accessible for public events by closing the street to cars. The the goal is to make it an amenity for all of Downingtown, not just the residents who live in the new buildings.
“We want outdoor space as beautiful as indoor space,” Fisher said.
This isn’t Hankin Group’s first foray at such a community. In nearby Exton, the firm developed Eagleview, an 800-acre mixed-use community with more than 1,200 residences, 2.8 million square feet of office space, and 50,000 square feet of retail.
Hankin Group, a Chester County real estate development company dedicated to quality and sustainability, announced that their newest apartment building at Claremont on the Square has been awarded LEED Gold.
LEED (Leadership in Energy and Environmental Design), developed by the U.S. Green Building Council (USGBC), is the most widely used green building rating system in the world and an international symbol of excellence. Claremont on the Square, a luxury apartment community located within Hankin Group’s Eagleview Town Center, consists of 3 buildings. The first two buildings were constructed in 2014 and the final third building, built in 2021, opened its doors to residents in April of this year.
The Claremont on the Square community, managed by Hankin Apartments, consists of 116 luxury apartment units and a lavish outdoor courtyard, added with the new building, featuring outdoor seating, fire-pit, games, outdoor television, grilling stations, and more. The third building attaining its LEED Gold Certification is an advancement from the previous two buildings who were both awarded LEED Silver Certification in 2015.
Peter Templeton, president, and CEO of USGBC commented on Hankin Group’s commitment to sustainability. Receiving this certification speaks to Hankin Group’s dedication to leveraging solutions with environmental benefits that can be passed down from generation to generation.
“Achieving LEED certification is more than just implementing sustainable practices. It represents a commitment to making the world a better place and influencing others to do better,” said Templeton. “Given the extraordinary importance of climate protection and the central role buildings play in that effort, Hankin Group is creating a path forward through their LEED certification.”
Lance Hillegas, VP of Sustainable Development and Design, and Laura Maiale, Development and Sustainability Manager, played key roles in the LEED Gold certification of Claremont on the Square’s new building. It is evident that Hankin Group has sustainability at the forefront of all they do and that both the world and their residents benefit from these practices. LEED-certified buildings like Claremont on the Square are making the world a better place and setting a standard for others to aspire to.
“Sustainable development is a core value at Hankin Group. We take pride in constructing residences that are energy and water efficient, thermally comfortable, and constructed with environmentally friendly and locally sourced materials,” said Maiale. “Residents can see and feel the benefits of living in a LEED Gold residence. The Claremont on the Square project is no exception, and we are happy to add another green building to the Eagleview community. We appreciate that this certification recognizes Hankin Group’s dedication to both quality and sustainability.”
To learn more about Claremont on the Square, visit claremontonthesquare.com.
Learn more about Hankin Group.