KKR has acquired three fully-leased Philadelphia-area warehouses as part of a $377 million deal involving six properties across the U.S. The local properties, according to CoStar Group data, sold for a combined $198 million. They include: Amazon’s 650,000-square-foot fulfillment center at 240 Mantua Grove Road, West Deptford, NJ, sold for $90.8 million. Built in 2018, it features a 41-foot clear height and 57 dock doors. Dunkin’s 301,872-square-foot distribution center at 20 E. Park Drive, Westampton, NJ, sold for $61 million. Penn Jersey Packaging’s 255,336-square-foot warehouse at 9355 Blue Grass Road, Philadelphia, sold for $46.2 million. The properties were previously owned by Link Logistics, the industrial real estate arm of Blackstone Group. The Amazon Center last traded for $78 million in 2019.

*Article courtesy of Philadelphia Business Journal

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other  commercial properties for buyers, tenants, investors and sellers. Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.