From the Philadelphia Business Journal

UAE-based Gulftainer signs 50-year lease for Port of Wilmington
Wednesday September 19th, 2018 05:00:33 PM Mark Eichmann
The Port of Wilmington is now in the hands of United Arab Emirates-based Gulftainer. Gov. John Carney signed an agreement with Badr Jafar, the chairman of Gulftainer’s executive board, during a ceremony at the port Tuesday afternoon. While Delaware will retain ownership of the land, Gulftainer will operate the port for the next 50 years — upgrading facilities, expanding operations and adding employees along the way.“This is a really big deal,” Carney said before a crowd of dignitaries from…
Duck Donuts to open 2nd Montco spot, Chesco is next
Wednesday September 19th, 2018 04:30:00 PM Kenneth Hilario
Made-to-order chain Duck Donuts is widening its foothold in Greater Philadelphia and Pennsylvania, with outposts planned for Montgomery and Chester counties.The made-to-order doughnut chain, founded in 2006 in Duck, N.C., on Saturday will open a restaurant in Collegeville, Pa., in the Providence Town Center.The 1,869-square-foot restaurant will be owned and operated by Todd, Rock and Gayle Rindfuss, the owners of the King of Prussia location that opened in July 2017 at the King of Prussia Town…
Ownership shuffle in Conshohocken as 2 office buildings sell
Wednesday September 19th, 2018 03:48:41 PM Natalie Kostelni
Conshohocken is on the verge of seeing several large office buildings trade hands, shaking up the ownership of a little more than a million square feet of space in the submarket. Equus Capital Partners of Newtown Square is buying Five Tower Bridge, an 8-story, 223,736-square-foot office building at 300 Barr Harbor Drive, according to sources close to the deal. The building is being sold by MIM-Hayden Real Estate Fund I, which is a partnership comprised of Hayden Real Estate Investments and Miller…
Amazon's HQ2 announcement won't come before midterms, says site-selection expert
Wednesday September 19th, 2018 03:17:54 PM Bill Hethcock
Global site consultant John Boyd said politics will drive Amazon's decision to wait until after the midterm elections to announce the company's second North American headquarters.
Malvern biotechnology company raises another $80M
Wednesday September 19th, 2018 01:59:00 PM John George
A royalty purchase agreement boosts the amount of money Galera Therapeutics has raised for its lead new drug candidate to $150M.
A few minutes … Kelvin D. Moore of the Pennsylvania Convention Center
Wednesday September 19th, 2018 12:19:35 PM Kenneth Hilario
Kelvin D. Moore over the summer took on his duties as the new general manager of the Pennsylvania Convention Center. I spoke with the former Chicagoan about his goals and how the meetings market's changed.
Redevelopment for 2400 Market St. is in the final stretch
Wednesday September 19th, 2018 12:08:38 PM Natalie Kostelni
The property totaled 350,000 square feet and the developers added five new floors totaling 300,000 square feet to the existing four-story building and invested a total of around $160 million.
Developer wagers big on Atlantic City bouncing back
Wednesday September 19th, 2018 12:04:52 PM Bill Barlow
Waseem Boraie is bullish on Atlantic City.He’d better be. Boraie Development LLC, where he’s the vice president, just spent close to a year and a half on an $85 million residential project in the South Inlet neighborhood, the first private, market-rate project that is not a casino the city has seen in years.The sales team is almost ready to start signing leases on the first phase, 250 rental units between Atlantic and Pacific avenues now dubbed 600 NoBe, for North Beach, at 600 Atlantic Ave.Sitting…
N.J. not ready for an economic downtown, ratings agencies say
Wednesday September 19th, 2018 11:57:47 AM Joe Hernandez
Ten years after the Great Recession, more and more states are bulking up their financial reserves to prepare for another economic downturn.But not the Garden State.According to two new reports from Moody’s Analytics and S&P Global Ratings, New Jersey is one of several states with minimal budget surpluses and empty rainy day funds, vulnerable to the next major economic decline.“If it’s into the 10th year, and they still haven’t replaced their reserves, how much time do they have left…
Amazon patents robots to load and unload trucks at fulfillment centers
Wednesday September 19th, 2018 11:50:20 AM Casey Coombs
The aim of the technology is to speed up delivery of products ordered on Amazon's online marketplace, including groceries from Whole Foods.





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