Two years after its completion, a Northeast Philadelphia distribution warehouse has been sold for $83.5 million to a global investment firm, according to property records.
The 282,737-square-foot building at 9801 Blue Grass Road is fully leased to TJX Companies, the parent company of TJ Maxx, HomeGoods, and Marshalls. DH Property Holdings sold the property to Blue Grass Owner II LLC, which shares the same New York address as alternative investment giant KKR.
In 2020, New York-based DH Property Holdings purchased the 21-acre site for $10.5 million from Huntingdon Valley real estate firm Sant Properties.
*Article courtesy of Philadelphia Business Journal
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