Philadelphia’s industrial real estate market has emerged as a national leader, ranking third among the 15 largest U.S. industrial markets for sustained rent growth. Over the past five years, industrial rents in the region have risen 57.6%, outpacing the national average of 41.7% and trailing only Phoenix and Atlanta. This growth stems from high demand… Read more »
Veho, a delivery firm serving e-commerce companies, has leased 148,611 square feet at 4501 Richmond St. in Philadelphia. The one-story distribution center, part of Bridge Point Industrial Park, was completed in April and is owned by Bridge Industrial, which acquired the site in 2022 for $24 million after environmental remediation. Previously, the property was used… Read more »
For the first time in two years, the industrial vacancy rate in the Philadelphia region has declined, dropping from 7% to 6.5% in the third quarter, per Colliers. This shift reflects increased tenant demand, particularly from third-party logistics companies, many based in Asia, that were previously priced out of the Northeast. These companies accounted for… Read more »
The Harrisburg industrial real estate market reached a record $740.6 million in sales in 2024, more than double last year’s total of $328.1 million. This growth caps a decade of steady expansion, solidifying the region as a key Northeast distribution hub. Over the past ten years, annual industrial sales have averaged over $330 million, significantly… Read more »
Veho, a third-party logistics company specializing in last-mile delivery, has leased a 148,611-square-foot industrial building at 4501 Richmond St. in Northeast Philadelphia. This deal marks the first lease in the local portfolio of Chicago-based developer Bridge Industrial, which also completed an adjacent 741,701-square-foot facility. Both buildings, located in the Bridesburg neighborhood along the Delaware River… Read more »
SEPTA has purchased a warehouse adjacent to Northeast Philadelphia Airport for $11.25 million, as per Philadelphia property records. This acquisition is part of a trend of industrial sales near the airport. The warehouse at 10551 Decatur Road covers over 136,000 square feet, most of which SEPTA had previously leased since 2019 for use as a… Read more »
Affiliates of Endurance Real Estate Group and Greystar-Thackeray have acquired a six-building light industrial portfolio in West Norriton for $31.75 million. The portfolio, totaling 200,359 square feet and fully leased to 15 tenants, was sold by Western Valley Forge Business Center LLC and IIT Valley Forge Business Center LLC. The buildings feature clear heights between… Read more »
A New York investment firm has acquired a 305,000-square-foot distribution center near Northeast Philadelphia Airport, marking another significant industrial sale in the area. Eagle Cliff Real Estate Partners purchased the property at 11350-11400 Norcom Road from 5601 Tulip LLC and Monarch Global Brands, as announced by real estate brokerage Binswanger. The sale price was $33.7… Read more »
Two years after its completion, a Northeast Philadelphia distribution warehouse has been sold for $83.5 million to a global investment firm, according to property records. The 282,737-square-foot building at 9801 Blue Grass Road is fully leased to TJX Companies, the parent company of TJ Maxx, HomeGoods, and Marshalls. DH Property Holdings sold the property to… Read more »
Velocity Venture Partners has sold a 468,000-square-foot industrial building in Yeadon, Delaware County, for $59 million, marking a 41% increase from its purchase price two years ago. New York-based Lightstone Group, making its first acquisition in the Philadelphia area, bought the warehouse at 6250 Baltimore Ave., according to Newmark’s Ryan Guittare, the listing agent. The… Read more »
