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 »
Philadelphia’s industrial boom is winding down after a record-breaking five years that added 55 million square feet to the region’s inventory. As of March, 12.4 million square feet remain under construction, a 52% drop from the early 2023 peak. This slowdown follows a national trend driven by rising vacancies. Half of the 32 million square… Read more »
Philadelphia’s industrial market showed resilience in early 2025, sustaining strong tenant demand despite a national leasing slowdown. Vacancy rates rose with new inventory, but net absorption increased year-over-year. Burlington, New Castle, and Bucks counties continued driving leasing momentum, while industrial properties remained the region’s top investment choice for the fourth consecutive year. Leasing activity has… Read more »
Philadelphia-based Alterra IOS has secured $189 million in financing from Blackstone Mortgage Trust Inc., marking another major investment in the industrial outdoor storage (IOS) sector. The loan supports Alterra IOS’ cash acquisition of 49 IOS properties across 22 states, totaling 235 usable acres. This investment brings the company’s total lender financing to over $1 billion… Read more »
