Crow Holdings Development has purchased a 10-acre site in Northeast Philadelphia with plans to construct a 103,500-square-foot distribution center. The Dallas-based developer acquired the property at 2748 Grant Avenue from James D. Morrissey Inc. for $7 million. The parcel sits south of the Northeast Philadelphia Airport, strategically positioned between Interstate 95 and Roosevelt Boulevard.

The total investment for the project is expected to reach $25 million, including the land acquisition. According to Clark Machemer, senior managing director at Crow Holdings Development, the project is designed to fill a gap in the local industrial market by delivering mid-sized distribution space around the 100,000-square-foot range—an increasingly underserved segment despite higher vacancy rates in the region.

*Article courtesy of Philadelphia Business Journal

Wolf Commercial Real Estate (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.