Philly Industrial Space

Philly Industrial SpaceWolf Commercial Real Estate specializes in representing a wide range of Philly industrial space for buyers, sellers, tenants and investors.

The team at our Philadelphia commercial real estate brokerage firm is uniquely qualified in all types of industrial space in Philly, from traditional space for warehousing and manufacturing, to industrial flex space for multiple uses under one roof, such as offices, showrooms, warehousing and more. As a leading Philadelphia commercial real estate broker, we offer clients the highest standard of service and unmatched expertise as we partner with them to help them realize their Philly industrial space goals.

Buying Philly Industrial Space

For buyers and tenants looking for new industrial space in Philadelphia, the knowledgeable team at our Philadelphia commercial real estate brokerage firm is experienced in identifying the available industrial space in Philly that is the best match for your specifics needs. We assure that the sale or lease terms of your new Philadelphia industrial space complements your real estate goals, and we’re with you from the beginning of the process to the very end in order to facilitate a smooth transition into your new Philly industrial space. At Wolf Commercial Real Estate, we have the people, the power and the connections to get you the right industrial space in Philadelphia at the right price.

Selling Philly Industrial Space

For owners looking to sell or lease their industrial space in Philly, there is nothing better than the defined marketing process that our Philadelphia commercial real estate specialists developed and then tailor for each property and sub-market. This comprehensive and proven marketing strategy works exceedingly well to match buyers and tenants with available Philadelphia industrial space.

Whether you are looking for new industrial space in Philadelphia, or seeking buyers or tenants for your available Philly industrial space, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need to make your commercial real estate goals a reality.

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Philadelphia Industrial Assets Remain Top Choice for Real Estate Investors for Third Consecutive Year

Philadelphia Industrial Assets Remain Top Choice for Real Estate Investors for Third Consecutive Year

Despite a 57% annual sales decline in 2023, industrial properties in the Philadelphia region maintained their status as the preferred asset class. The industrial sector is poised to exhibit resilience in the upcoming quarters, contrasting with a general slowdown in sales across all property types.

The strength of the industrial sector can be attributed to sustained consumer spending. With a commanding 32% share, equivalent to $1.31 billion, industrial property investments outperformed other segments in the Philadelphia real estate market. Retail properties constituted 28% of the annual sales, office sales comprised 26%, while multifamily property sales dwindled to a mere 13% of the total sales for the year.

*Article courtesy of Costar

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers. Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Northeast Philly Property to be Redeveloped into Larger Warehouse

Texas firm to redevelop Northeast Philadelphia property into larger warehouse

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 structure and replace it with a new 176,000-square-foot industrial property.

Earlier in April, International Vitamin Corp. had announced its plans to phase out manufacturing operations at the West Torresdale location, subsequently putting the building up for sale. The purchase price for the building by Lovett Industrial remains undisclosed, and the sale has yet to be officially recorded in city records.

*Article courtesy of Philadelphia Business Journal

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers. Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Velocity Venture Acquires Industrial Property in Montgomery County

Velocity Venture Partners has purchased a 340,000-square-foot industrial building in Montgomery County for $30.7 million

Velocity Venture Partners has purchased a 340,000-square-foot industrial building in Montgomery County for $30.7 million, aiming to enhance and expand the premises. Positioned at 3400 E. Walnut St. in Colmar, the 28-acre property sits between Route 309 and County Line Road, less than a mile from SEPTA’s Regional Rail Colmar station. Zach Moore, Velocity’s Founding Partner, lauded the site as one of the few industrial buildings in Montgomery County in close proximity to a train station.

The entire building is currently occupied by Dorman Products (NASDAQ: DORM), an auto body parts supplier. Velocity acquired the property from BREP I LP, a partnership under the ownership of the Berman family, including Dorman’s Executive Chairman, Steven Berman, as per Dorman’s 2022 annual report.

*Article courtesy of Philadelphia Business Journal

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers. Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Expansive Industrial Sublease Opportunities in Lehigh Valley, Pennsylvania

xpansive Industrial Sublease Opportunities in Lehigh Valley, Pennsylvania

The volume of industrial sublease space in Lehigh Valley, Pennsylvania has notably increased this year, more than doubling from 3.9% in the first quarter to 8.8% by the end of November. This mirrors a larger national pattern, where industrial sublet availability has risen from 7.2% to 10% over the same period.

Initially, pandemic-driven demands for warehouse and distribution centers had squeezed industrial sublet availability to a low of 2.5% in early 2022. However, recent quarters have seen a shift due to inflation, heightened capital costs, and macroeconomic uncertainties, cooling the previously high demand. Consequently, sublet availability has been consistently rising since early 2022. This turning point coincided with the Federal Reserve’s initiation of interest rate hikes in March 2022 to address inflation concerns.

*Article courtesy of  Costar

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers. Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Greek Real Estate Invests $80 Million in Redevelopment Project for Industrial Property in Northeast Philadelphia

Greek Real Estate makes $80M bet on redevelopment of Northeast Philadelphia industrial property

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 Greek, Managing Partner of Greek Real Estate Partners. The East Brunswick, New Jersey-based developer has secured a $44 million construction loan from First Citizens Bank.

This ambitious project represents an $80 million investment, combining land and construction expenses, signaling Greek Real Estate Partners’ confidence in the potential for substantial returns from a modern industrial facility in the densely populated Northeast Philadelphia area.

*Article courtesy of Philadelphia Business Journal

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers. Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Industrial Construction Commences in Philadelphia with a Significant Decline

Industrial Construction Starts in Philadelphia Stage Precipitous Drop-Off

In response to a confluence of factors, including increased borrowing and construction expenses, coupled with diminishing demand for warehouse space, Philadelphia’s industrial development is beginning to exhibit early indications of a slowdown. Over the last two quarters, the Philadelphia industrial sector has witnessed an average of just 665,000 square feet in construction starts, a stark contrast to the robust quarterly average of 4.7 million square feet observed between 2020 and 2022. To put this in perspective, the quarterly construction starts between 2017 and 2019 stood at a more moderate 1.5 million square feet.

*Article courtesy of Costar

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers. Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Developer Proposes Construction of Two Warehouses on the Former Inquirer Printing Plant Site

New York Developer Proposes Construction of Two Warehouses on the Former Inquirer Printing Plant Site in Upper Merion

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 will span 488,240 square feet, while the other will encompass 258,000 square feet.

Property records indicate that the developer acquired the site at 800 River Road from Radnor-based MLP Ventures in July 2022, with an officially listed sale price of just $1. During the recent Upper Merion Township Planning Commission meeting held on Wednesday, the proposal was deferred to a future meeting. After DH Property Holdings presented their plan, the planning commission decided that it was not yet prepared to provide a recommendation for either approval or denial to the township’s board of supervisors, who have the authority to greenlight or reject the proposal.

*Article courtesy of Philadelphia Business Journal

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers. Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Philadelphia’s Industrial Property Sector Faces Challenges Amid Influx of Available Space

Industrial Property Sector Grapples With Slower Lease-Up as More Space Floods the Philadelphia Market

The recent construction boom of industrial space across the Philadelphia region has posed lease-up challenges as supply continues to outpace demand for the fifth consecutive quarter. 

In the past year, greater Philadelphia’s industrial real estate market has experienced an unprecedented surge in new inventory, with developers adding more than 20 million square feet of industrial space. Subsequently, the region’s availability rate has expanded to 9.5% in the fourth quarter, a significant increase from the low of 6.6% observed in mid-2022.

A total of 1,055 industrial properties totaling 56 million square feet of space are available and searching for tenants. This increase in availability is a notable shift from the tighter market conditions seen in mid-2022 when approximately 40 million square feet of space were available for lease.

*Article courtesy of Costar

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers. Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Boston Firm Purchases Industrial Warehouse in Harleysville

Harleysville industrial warehouse sells to Boston firm for $14.8M

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. Less than three years later, the value dropped by $173,000.

Stag (NYSE: STAG) owns about two dozen assets in the Philadelphia market totaling 5.5 million square feet of warehouse distribution and manufacturing space. As of March, the company owned 561 properties totaling 111.6 million square feet and that are collectively worth around $6 billion.

*Article courtesy of Philadelphia Business Journal

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers. Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Philly’s Industrial Rent Remains Elevated

Industrial Rents in Philadelphia Remain Elevated

Rent growth across Philadelphia’s commercial properties has exhibited a roller-coaster-like trajectory since the onset of the pandemic, which saw numerous new rent records in recent years. While the region’s overall rent performance has since normalized toward pre-pandemic levels in recent quarters, the industrial sector in Philadelphia stands out as an exception with its annual rent gains remaining stubbornly elevated.

Industrial rent growth in Philadelphia has been impressive, exceeding the rates of increase for the multifamily, retail and office sectors, even in the years before the pandemic. Industrial properties averaged an annual growth rate of 5% between 2015 and 2019, well above the growth rates for multifamily at 2.6%, retail at 2% and office at 3.3% annual average increases.

*Article courtesy of Costar

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers. Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.