A full-building lease has been secured at South Penn Logistics Center in Morrisville, further reinforcing demand for modern logistics space in the region.
Exol, a California-based AI-powered fulfillment company formerly known as GreenBox, has signed a lease for the entire 973,200-square-foot facility. The property is located at 2300 South Pennsylvania Avenue and was recently developed by Logistics Property Company.
Notably, the building was designed to support high-volume logistics users. It features a 40-foot clear height and access to heavy power. As a result, the property is well-positioned for advanced automation and robotics operations.
In addition, sustainability was a key focus during development. The facility is registered for LEED Silver certification. Furthermore, it incorporates a Trylitics TriSLAB concrete slab system. This system reportedly reduces embodied carbon by 30% while eliminating nearly 20 miles of saw joints.
Meanwhile, the development and leasing process was supported by Cushman & Wakefield. Multiple team members assisted in both site acquisition and lease execution. Consequently, the project was successfully brought to market and fully leased.
According to industry professionals, this transaction reflects broader market momentum. High-power logistics facilities in infill locations continue to attract strong tenant interest. Therefore, Southeastern Pennsylvania remains a highly competitive industrial market.
At the same time, Exol’s growth trajectory has been driven by recent investment activity. The company rebranded in December 2025 following its acquisition by a joint venture between SoftBank Group Corp. and Symbotic Inc..
With backing from a $7.5 billion infrastructure investment, the company is expanding its “warehouse-as-a-service” platform. This model leverages AI and robotics to enhance fulfillment efficiency. The lease at South Penn Logistics Center is scheduled to commence on May 1, 2026.
Looking ahead, additional industrial development remains underway in the region. Logistics Property Company is currently developing the Crossroads 95 Logistics Center in Newark, Delaware. The 442,000-square-foot project is expected to be completed later this year.
Overall, this lease underscores continued confidence in the regional logistics sector. Demand for technologically advanced, high-power facilities is expected to remain strong.
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