Best Real Estate Deals of 2023: Announcing this year's honorees

Philadelphia Business Journal I Lisa Dukart I Jan 30, 2024

These are the Philadelphia Business Journal's Best Real Estate Deals of 2023.PHILADELPHIA BUSINESS JOURNAL

Each year the Philadelphia Business Journal honors the Best Real Estate Deals in Greater Philadelphia, including the individuals and people behind them.

Last year several highly anticipated projects were delivered, including a new sports entertainment venue in King of Prussia, a new Center City office tower, the adaptive reuse of a former power plant station in Fishtown, as well as a water park at the Jersey Shore.

Those are just a few of the 30 honored projects for the 2023 Best Real Estate Deals.

To determine this year’s list, we sought nominations from the public and considered other notable projects that were not nominated. In total, we received dozens of submissions for projects and deals throughout the region.

Honorees were determined by an outside panel of judges. This year’s judges are:

• Maleda Berhane, principal and CEO, AR Spruce

• Iryna Iryk, vice president, brokerage services, Metro Commercial

• Michael Markman, president, BET Investments

• Eric Stern, senior adviser, Tactix Real Estate Advisors

• Mark Thomson, founder, Love Communities

To be considered, the projects and deals had to have an element of transaction – such as an acquisition, sale, lease, financing agreement or the completion of a project – take place in the 2023 calendar year.

This year we are recognizing projects and deals in six categories: Affordable Housing; Apartments; Environmental, Social and Governance; Industrial; Office; and Retail and Hospitality. We will also recognize one project as this year's Editor's Choice.

The projects below have placed in their category, but where they rank won’t be revealed until the March 21 event at Vie by Cescaphe in Philadelphia and in a special print edition of the Business Journal on March 22. Individual tickets for the event will go on sale Feb. 29. More information can be found here.

At the event, we’ll also unveil which of these projects has been selected as the Deal of the Year and Editor's Choice.

In addition to these projects, the judges also selected Dealmakers and Rising Stars, individuals in the industry who stood out for their achievements. Those honorees will be revealed on Wednesday.

Below are the 2023 Best Real Estate Deals, listed alphabetically. See a gallery of select projects below.

• 15 Kings Grant Drive – Bala Cynwyd

• 1130 Pottstown Pike – Exton

• 2222 Market St. – Philadelphia

• 2300 Market St. – Philadelphia

• 3060 S. 61st St. – Philadelphia

• 7001 Sheaff Lane – Fort Washington

• Avant – Philadelphia

• AVE Navy Yard – Philadelphia

• Bala Plaza – Bala Cynwyd

• The Battery – Philadelphia

• Bristol Gardens – Bristol

• DuPont's lease at First State Logistics Park – Newark, Delaware

• Fox Rothschild's new headquarters – Philadelphia

• The Giant Co. – Jenkintown

• Goodwin Procter's lease at Schuylkill Yards – Philadelphia

• Island Waterpark at Showboat Resort – Atlantic City, New Jersey

• Kelly Logistics Park – Carneys Point, New Jersey

• KPMG's lease at 1735 Market St. – Philadelphia

• One Tower Bridge – Conshohocken

• Piasecki Aircraft Corp.'s acquisition of Lockheed Martin Sikorsky Heliplex – Coatesville

• Publicis Groupe's lease at the Bourse – Philadelphia

• Ralston House – Philadelphia

• Ray Philly – Philadelphia

• Scrub Daddy's lease at 104 Woodbury Road – Cherry Hill, New Jersey

• Spring Garden Apartments – Philadelphia

• The Standard – Philadelphia

• Tac Pal Logistics Phase II – Palmyra, New Jersey

• Topgolf – King of Prussia

• Westpark Project – Philadelphia

• Yesway's lease at Tac Pal Logistics Center – Palmyra, New Jersey

Click through the gallery below to see some of this year's winning projects: