Posts Tagged: Philadelphia

Northeast Philadelphia warehouse sells for 166% more than it traded for a year ago

Bridge Investment Group of Salt Lake City paid $33.25 million for 11311 Roosevelt Blvd., a 229,459-square-foot warehouse in Philadelphia, according to city property records. It bought the building from Covington Property Partners, a Dallas company that acquired it in February 2021 for $12.5 million. Covington purchased the building through a bankruptcy sale of National Publishing… Read more »

Connecticut firm buys 2 industrial buildings in Northeast Philadelphia for $25M

An investment group led by a Connecticut real estate firm has paid $25 million for 1771 Tomlinson Road and 11500 Roosevelt Blvd., two expansive industrial properties in Northeast Philadelphia.  With this off-market acquisition, Brickman of Greenwich now controls 960,480 square feet on a total of 54.43 acres across three properties in Northeast Philadelphia that are… Read more »

Bridge Industrial proposes project at former Philadelphia Coke Company site in Bridesburg

Bridge Industrial plans to build nearly 900,000 square feet of industrial space in the Bridesburg section of Philadelphia, continuing an established trend of developers expanding into the city.  The Chicago-based developer is scheduled to go before Philadelphia’s Civic Design Review Committee on Feb. 1. Bridge Industrial is proposing 889,312 square feet at 4501 Richmond St…. Read more »

Spate of sales closes out another record year for Philadelphia industrial market

Two year-end acquisitions of several Northeast Philadelphia properties that totaled $45 million contributed to the region having another record year in industrial sales with $3.24 billion warehouse-distribution properties trading.  Faropoint picked up two buildings totaling nearly 275,000 square feet. The properties included 327 Chew Ave., a 170,390-square-foot building in the Fox Chase section of Philadelphia,… Read more »

As development marches northward, COFCO sells North American Street building for $8.75M

COFCO has sold its 64,000-square-foot warehouse that also served as its corporate headquarters and showroom at 2200 N. American St. in the Kensington neighborhood of Philadelphia for $8.75 million.  The corporate office furnishings dealer bought the building in the fall of 1999 for $1.5 million. Brick Capital Real Estate Development, a Philadelphia developer of multifamily… Read more »