NorthBridge Partners has spent nearly $44 million to add two more industrial properties to its growing footprint in the Philadelphia area. Entities affiliated with the Boston real estate company paid $22 million for 2828 Charter Road, a 248,000-square-foot building on 19 acres in Northeast Philadelphia, and $21.8 million for 1050 Wheeler Way, a 110,000-square-foot building… Read more »
Bridge Industrial plans to build nearly 900,000 square feet of industrial space in the Bridesburg section of Philadelphia, continuing an established trend of developers expanding into the city. The Chicago-based developer is scheduled to go before Philadelphia’s Civic Design Review Committee on Feb. 1. Bridge Industrial is proposing 889,312 square feet at 4501 Richmond St…. Read more »
Since 2006, Ward Fitzgerald has overseen the growth of Conshohocken-based Exeter Property Group into EQT Exeter, a global real estate company focused on industrial real estate though it also dabbles in residential, office and life sciences space. The company was formed last year after Exeter Property Group sold to Stockholm private equity firm EQT AB in… Read more »
A South Jersey building used as a distribution center for Rite Aid Corp. and a Bucks County building leased by AstraZeneca is among six Philadelphia-area properties that are part of a 58-building industrial portfolio recapitalized for $423.5 million. Taurus Investment Holdings, a Boston real estate investment firm, owns a portfolio that totals 3.96 million square… Read more »
Two year-end acquisitions of several Northeast Philadelphia properties that totaled $45 million contributed to the region having another record year in industrial sales with $3.24 billion warehouse-distribution properties trading. Faropoint picked up two buildings totaling nearly 275,000 square feet. The properties included 327 Chew Ave., a 170,390-square-foot building in the Fox Chase section of Philadelphia,… Read more »
A newly renovated industrial building in North Philadelphia leased by Amazon.com Inc. has been acquired for nearly $28 million, more than three times the amount it sold for in 2020. Irvine, California-based LBA Realty purchased 700 Ramona Ave. from SBG Real Estate LLC. The 17.5-acre property is fully leased by Amazon (NASDAQ: AMZN) and includes… Read more »
COFCO has sold its 64,000-square-foot warehouse that also served as its corporate headquarters and showroom at 2200 N. American St. in the Kensington neighborhood of Philadelphia for $8.75 million. The corporate office furnishings dealer bought the building in the fall of 1999 for $1.5 million. Brick Capital Real Estate Development, a Philadelphia developer of multifamily… Read more »
In December 2020, DH Property Holdings bought 67 acres at 5000 Richmond St. in the Bridesburg section of Philadelphia and is now ready to move forward with a $120 million speculative development of two large warehouse-distribution buildings. One building will total 348,000 square feet and the other 411,0000 square feet, joining upwards of 15 million… Read more »
Wharton Equity Partners has acquired a 200,000-square-foot industrial building in Croydon for $22.5 million and plans a series of upgrades to the property that has been owned and occupied by the same company for nearly three decades. Mid-Atlantic Distribution, a third-party logistics company headquartered in Pennsauken, New Jersey, sold the building at 2955 State Road… Read more »
EQT Exeter has paid $7.65 million for 300 S. Gulph Road, a 43,376-square-foot warehouse in King of Prussia. The property was sold by Long Road Associates LP, according to Montgomery County property records. The last time it traded was in 2003 when Long Road bought it for $1.46 million. The building, which was developed in… Read more »
