Speed Bay Warehouse Solutions has entered the Northeast market with an industrial portfolio acquisition valued at more than $84 million.
The portfolio includes eight warehouse properties totaling 488,936 square feet. The buildings are located in Delaware and Montgomery counties in Pennsylvania and Burlington County in New Jersey.
The Denver-based real estate firm purchased the portfolio from Seyon Group and Berkeley Partners. As a result, Speed Bay established its first industrial holdings in the Northeast.
The portfolio is approximately 89.6% leased. Additionally, the average tenant space exceeds 20,000 square feet.
Current tenants include FedEx, Bluestone Communications, and Quotient Sciences. The diverse tenant roster provides occupancy across multiple industries.
Demand for multi-tenant industrial properties remains steady throughout the Greater Philadelphia region. Consequently, investors continue targeting well-located assets with stable occupancy and growth potential.
The acquisition reflects ongoing confidence in the Northeast industrial market. Furthermore, the Philadelphia region continues attracting institutional investment because of its strategic location and extensive transportation network.
With this purchase, Speed Bay Warehouse Solutions expands beyond its existing markets while strengthening its presence in one of the nation’s most active logistics corridors.
*Article courtesy of Philadelphia Business Journal
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