A Houston-based real estate firm has completed the acquisition of a warehouse in Northeast Philadelphia with intentions to demolish and redevelop it into a larger industrial facility. This acquisition, situated at 10101 Roosevelt Blvd., marks an expansion for Lovett Industrial within the Philadelphia market. Spanning 14.5 acres, the firm intends to dismantle the existing 109,000-square-foot… Read more »
Two years after the acquisition of a 305,706-square-foot industrial building in Northeast Philadelphia for $31.5 million, Greek Real Estate Partners has initiated a significant redevelopment. The original structure has been demolished to make way for a new 287,000-square-foot warehouse at 2121 Wheatsheaf Lane, with an estimated construction cost of around $50 million, according to David… Read more »
A New York real estate firm, DH Property Holdings, has put forth a plan to transform the former Philadelphia Inquirer printing plant in Upper Merion Township into a 746,240-square-foot warehouse complex. Their proposal envisions the demolition of the existing facility and the construction of two industrial buildings on the 46.3-acre site. One of these buildings… Read more »
Stag Industrial, a Boston-based investment trust, bought a 152,625-square-foot industrial building in Harleysville for $14.8 million, according to property records. The property at 1510 Gehman Road is just east of I-476 and south of Detwiler Road. It was previously owned by Platinum Owner PA LLC, which bought the building for $15 million in December 2020…. Read more »
The Port of Philadelphia’s ongoing plan to expand its physical footprint is taking another step forward with the approval of a new warehouse. The port on Thursday received a zoning permit to build a storage, distribution and logistics facility on 3060 S. 61st St. by the Schuylkill River. The 277,200-square-foot warehouse is being planned on a more… Read more »
Global cocoa producer Barry Callebaut has signed a lease for 350,000 square feet at Eddystone’s Delco Logistics Center, taking up an entire building as the company grows its presence in the region and aims for more efficiency. It’s the first tenant at the Delco Logistics Center. Barry Callebaut plans to use the warehouse space to… Read more »
Greek Development has expanded its footprint to Philadelphia, with plans to build nearly 300,000 square feet of new industrial space, after one of several recent acquisitions and as part of a development pipeline that currently calls for more than 2.5 million square feet. The East Brunswick-based firm is pursuing approvals for the planned 287,000-square-foot facility… Read more »
Wharton Industrial continues to expand its Philadelphia-area holdings, buying a pair of fully leased warehouses in Pennsylvania and New Jersey totaling 325,000 square feet. The properties are at 9130 Griffith Morgan Lane in Pennsauken and 5 East Pointe Drive in the Berks County town of Birdsboro. Both deals involve sale-leasebacks. The 189,498-square-foot warehouse in Pennsauken… Read more »
An 11.4-acre industrial property in Southwest Philadelphia near the planned Bellwether District was recently purchased for $35 million by an entity affiliated with Hilco Redevelopment Partners, the company behind the ambitious project. The nearly 70,000-square-foot warehouse at 1600 S. Warfield St. sits just north of the edge of the former Philadelphia Energy Solutions refinery site,… Read more »
The facility will be funded through a $20.3 million grant awarded to PhilaPort under the U.S. Department of Transportation’s 2022 Infrastructure for Rebuilding America program. A portion of the funding will also be used toward safety and efficiency upgrades with the modernization of the Tioga Marine Terminal’s main gate. Construction of the new warehouse is… Read more »
