A 100,000-square-foot warehouse at 2722 Commerce Way in Northeast Philadelphia has sold for $16.4 million.
Property records identify the buyer as 2722 Commerce Realty LLC. Additionally, state business filings link the entity to the neighboring headquarters of RushOrderTees at 2727 Commerce Way.
Industry reports identify RushOrderTees as the buyer. However, the company declined to comment on the acquisition.
The 7.3-acre property previously belonged to NorthBridge Partners. The sale price equates to approximately $164 per square foot.
United Natural Foods Inc. (UNFI) currently occupies the warehouse. The grocery wholesaler signed its lease in 2004.
The existing lease extends through 2030 and includes an opt-out option in 2027. As a result, the property provides near-term occupancy for the new owner.
NorthBridge Partners acquired the warehouse in 2020 as part of a larger industrial portfolio transaction. The four-building portfolio totaled 281,000 square feet across 27 acres and sold for $25.5 million.
The latest sale reflects continued investment in well-located industrial assets throughout the Philadelphia region. Furthermore, owner-users continue pursuing acquisitions that support long-term operational growth and real estate control.
With an established tenant and a strategic Northeast Philadelphia location, the property remains positioned within one of the region’s most active industrial corridors.
*Article courtesy of Philadelphia Business Journal
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