KDA Bullish on Philly
You can excuse Brooklyn’s Kalmon Dolgin Affiliates for not wanting to turn the page on a strong 2013 in Philly just yet. (Above, its exec team of Josh Dolgin, Kalmon Dolgin, Neil Dolgin, and Grant Dolgin.) For one, it saw 388k SF in lease deals at 4700 Wissahickon Ave. Notable tenants include the City of Philadelphia (renewed 184k SF), human services nonprofit RHD (grew to 78k SF), and disabilities support agency TAIG (renewed 39k SF). KDA, which turns 110 this year, has established itself by patiently buying Class-B product and repositioning it into Class-A. And it's keeping its eyes on more acquisitions, he tells us.
KDA’s other local property, the Spring Mill Corporate Center in Conshohocken, saw 42k SF in new leases and renewals. As with 4700 Wissahickon, KDA is seeing companies incubate themselves and grow. Some of the highlights at Sping Mill for 2013 were consulting firm Connolly expanding from13k SF to more than 60k SF, a new lease for Softgate Solutions (3,750 SF), and a renewal/expansion for Rex Medical (9,000 SF).