The South Philadelphia headquarters occupied by Tastykake has changed ownership following an $87 million transaction. As a result, another major industrial investment sale has closed in the Philadelphia market.
The 345,500-square-foot property is located at 4300 South 26th Street. The building was sold by Prologis to an entity affiliated with Bridge Investment Group.
The sale price equates to approximately $252 per square foot. Meanwhile, investor demand for leased industrial assets has remained active despite broader market shifts.
Tastykake fully occupies the property under a long-term lease agreement. In addition, roughly nine years remain on the tenant’s current lease term.
Previously, the property was marketed for sale in September. Since then, the transaction has moved through closing as industrial investment activity continues across the region.
The building serves as Tastykake’s headquarters and remains an important part of the company’s operations. Consequently, stable tenancy likely supported investor interest in the asset.
Philadelphia’s industrial sector has continued attracting institutional capital in recent years. In particular, fully leased properties with established tenants remain highly sought after.
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