NKF Arranges Sale of Premier Retail/Mixed-Use Development Site in Rehoboth Beach, Delaware for $13.5 Million

Wilmington, DE (June 20, 2017) — Newmark Knight Frank (NKF) today announced the sale of the 10.3-acre; 448,668-square-foot parcel at the southeast corner of the Coastal Highway (Route 1) and Holland Glade Road, in Rehoboth Beach, Sussex County, Delaware. The $13.5 million sale represents the last large commercial land tract along the Route 1 corridor between Lewes and Rehoboth Beaches. Mike Margolis, Dave Dolan and Neal Dangello of NKF represented the seller, the Corrado Family, LLC in the sales transaction. Coastal Station Development Co., LLC were the buyers.

The site will be redeveloped with the first phase to begin immediately and will include a Royal Farms convenience store and Iron Hill Brewery and Restaurant (planned to open in summer 2018).

Click here to read the full press release.

Thursday: Vanguard, Safeguard, Stash talk fintech trends

Written by Roberto Torres, Technical.ly Philly

Head to the suburbs for this PACT event. It’s the latest in an uptick of fintech activity across the Philly region.

From high-priced acquisitions to niche accelerator programs, fintech activity in the region has been on the rise lately.

And tomorrow, amid that bubbling context, PACT is hosting a chat at Vanguard’s Malvern HQ to dissect some of the latest trends in the fintech space.

Joel Dickson, Vanguard’s global head of investment R&D will kick off the event, followed by a presentation from John Evans, senior manager for investment fintech strategies at Vanguard, on how the OG investment firm is using tech to manage its massive portfolio, which spans $4.2 trillion in assets.

Click here to read the full article.

Philly tech execs went to Harrisburg to lobby against Pa.’s proposed ‘Tech Tax’

Written by Roberto Torres, Tecnical.ly Philly

PACT organized the field trip of sorts in partnership with the Pittsburgh Technology Council.

Alongside the Pittsburgh Technology Council, PACT rallied eight tech execs from the Philly area and headed to Harrisburg last Tuesday. The goal? Speaking out against the proposed rehashing of a six-percent sales tax on computer services and software found in the commonwealth’s latest budget proposal.

Here’s the list of Philly folks that headed to the capitol (including more than a couple familiar names):

  • Chris Cera, Arcweb Technologies
  • Rich Napoli, ObjectFrontier
  • Chris Schalleur, Christo IT Consulting
  • Alex Urevick-Ackelsberg, ZivTech
  • Lauren Schwartz, TechWise Group
  • Greg Sterndale, PromptWorks
  • Dawn McDougall, Operations Manager, PromptWorks
  • Matthew Donegan, Senior Technical Architect, Strava Technology Group

Click here to read the full article.