Royal Oak Realty Trust acquired a two-building industrial complex in Montgomery County for $29.25 million. The 14-acre property includes 225,000 square feet at 500 Prosperity Drive in Upper Providence Township. The buildings are fully leased by Global Packaging Inc. Maguire Hayden Real Estate Co., based in Conshohocken, served as the seller. The developer built the… Read more »
A North Jersey developer plans to expand again in Delaware County. Greek Real Estate Partners will build an 81,000-square-foot industrial facility in Ridley Township. The site sits at 130 S. Fairview Road, near I-95 and I-476, and only seven miles from Philadelphia International Airport. The East Brunswick-based firm secured a $12.3 million construction loan from… Read more »
A newly built warehouse in Northeast Philadelphia sold for $94.5 million. The sale represents one of the region’s largest industrial deals this year. An affiliate of Principal Financial Group bought the 465,000-square-foot property at 11601 Roosevelt Boulevard. NorthPoint Development, which completed the building in 2020, handled the sale. The price equals about $203 per square… Read more »
California-based beverage manufacturer DrinkPak is reportedly targeting South Philadelphia’s Bellwether District for a massive 1.3 million-square-foot build-to-suit production facility, according to multiple industry sources. The five-year-old company, known for producing energy drinks, sodas, waters, hard seltzers, and canned cocktails, announced earlier this year plans to expand into the Northeast with a third facility — referred… Read more »
Prologis has put Tastykake’s headquarters and main bakery facility at the Philadelphia Navy Yard on the market. The 345,500-square-foot building, located at 4300 S. 26th Street, was originally developed in 2009 as a build-to-suit project and serves as Tasty Baking Co.’s largest production and distribution hub in the U.S. Prologis acquired the property in its… Read more »
Foxfield has obtained $132.4 million in financing to support its newly completed Lower Bucks Logistics Hub in Langhorne, Pennsylvania. San Antonio-based Affinius Capital provided the loan for the two-building, 814,567-square-foot industrial development located at 1600 and 1620 E. Old Lincoln Highway, also known as Route 213. The Boston-based developer delivered two modern warehouses positioned on… Read more »
Industrial property values in Pennsylvania’s eight largest markets rose 6.9% to 15.7% over the past three years. Lancaster saw the biggest jump at 15.7%. Limited new construction and strong demand for warehouse space drove prices higher. Developers added just 3 million square feet of space, a 3.3% increase in supply—about half the growth rate of… Read more »
Crow Holdings Development has purchased a 10-acre site in Northeast Philadelphia with plans to construct a 103,500-square-foot distribution center. The Dallas-based developer acquired the property at 2748 Grant Avenue from James D. Morrissey Inc. for $7 million. The parcel sits south of the Northeast Philadelphia Airport, strategically positioned between Interstate 95 and Roosevelt Boulevard. The… Read more »
Atlanta-based Stonemont Financial Group has made its first industrial investment in the Philadelphia region, acquiring a South Jersey property for $25.5 million. The 32-acre site, located at 300 Progress Court in Logan Township, was sold by Advanced Drainage Systems Inc., which had previously occupied the facility but vacated following the sale. The deal reflects a… Read more »
DYWIDAG, a German infrastructure company with a history dating back to 1865, is nearly doubling its local presence by opening a 47,000-square-foot facility in Pottstown. The Munich-based firm provides technology systems and products used in major infrastructure projects worldwide. For more than 40 years, DYWIDAG has operated from a 25,000-square-foot site in Toughkenamon, Chester County…. Read more »
