Following a period of rapid industrial development, the Philadelphia region is now seeing a much-needed slowdown in construction activity. This easing has allowed demand to begin catching up with the influx of supply, helping to reduce vacancy rates across the metro area. Since 2020, developers have delivered over 57 million square feet of industrial space… Read more »
Amazon announced plans Monday to build a new data center at the Keystone Trade Center in Bucks County, marking part of a sweeping $20 billion investment across Pennsylvania aimed at advancing artificial intelligence and cloud computing infrastructure. Governor Josh Shapiro called it the largest private investment in the state’s history. Along with the Bucks County… Read more »
Performance Team, a logistics firm owned by Maersk, has leased the entire 1.2 million-square-foot Box Park Logistics Center in Cinnaminson, making it the Philadelphia region’s largest industrial lease of the year, according to industry sources. The deal significantly reduces available industrial space and comes two years after developer Logistics Property Co. completed the building. Located… Read more »
Philadelphia has solidified its position as a top-tier industrial real estate market, delivering over 4 million square feet of new space in the first quarter of 2025. The city ranked fourth in a new national report by CommercialCafe, making it the highest-ranked market on the East Coast. The ranking evaluated 30 major U.S. industrial hubs… Read more »
Ares Management has acquired a 65,582-square-foot warehouse at 13200 Townsend Road in Northeast Philadelphia for $10.2 million, according to property records. The Los Angeles-based investment firm purchased the property from Northbridge Partners, a Boston-based real estate firm. Located in the Byberry East Industrial Park, just off Roosevelt Boulevard, the property has become part of a… Read more »
East Brunswick-based Greek Real Estate Partners has acquired Everest Logistics Park in Croydon, PA, for $36.75 million, according to Bucks County property records. The 141,276-square-foot Class A warehouse, located at 120 Phyllis Drive along the Delaware River, was sold by Penwood Real Estate Investment Management. The purchase price reflects approximately $260 per square foot. Delivered… Read more »
The founders of Philly Pretzel Factory have purchased a 31,000-square-foot warehouse on 2.5 acres next to the company’s Bucks County headquarters in Bensalem. CEO Dan DiZio and co-founder Len Lehman, along with other investors under Pretzel 98 LLC, acquired the property at 1824 Byberry Road for $4.3 million earlier this month. Philly Pretzel Factory’s 25,000-square-foot… Read more »
A Massachusetts-based firm plans to fully demolish a vacant office building across from Philadelphia International Airport to make way for a nearly half-million-square-foot industrial warehouse. PNC Bank vacated the entire 441,000-square-foot building at 8800 Tinicum Blvd. in early 2024, consolidating operations at its regional headquarters at 1600 Market St. in Center City. Following the departure,… Read more »
Exertis Almo has sold its 143,060-square-foot headquarters at 2709 Commerce Way in Northeast Philadelphia to a Boston-based real estate investment firm for $27.2 million. The deal is structured as a sale-leaseback, which breaks down to approximately $190 per square foot. The buyer is an entity affiliated with Cabot Properties. The transaction comes on the heels… Read more »
Velocity Venture Partners is redeveloping the former Cardone Industries complex in Northeast Philadelphia, with leases already in place for 40% of the industrial space. The Bala Cynwyd-based firm purchased the 470,000-square-foot site at 5660 Rising Sun Ave. in 2022 for $22.3 million from a Cardone-affiliated entity. Cardone, a longtime major employer in the area, occupied… Read more »
