Crow Holdings Development has acquired a 14.4-acre parcel in Northeast Philadelphia for $8 million, intending to construct a 150,000-square-foot industrial facility.
The Dallas-based real estate investment firm purchased the site, located at 14515 McNulty Road, from the Philadelphia Authority for Industrial Development, a subsidiary of the quasi-public Philadelphia Industrial Development Corp.
Clark Machemer, Senior Managing Director at Crow Holdings Development, noted that while most new industrial warehouses exceed 300,000 square feet, he perceives potential in developing a smaller footprint at this location.
*Article courtesy of Philadelphia Business Journal
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