Posts Categorized: Philly Industrial Space

Manufacturer in Bucks County Secures Future in Industrial Complex

industrial complex in bristol pa

TESCO owner Tom Lawton worried about the possibilities. If the building that housed his company was sold, the buyer could force it to move.  So Lawton took control. TESCO bought Grundy Commons, its home since 1987, in November. The company paid just under $13.4 million for the four-building property in Bristol, according to public records…. Read more »

Velocity Venture Partners Buys Delco Industrial Building

Velocity Venture Buys Delco Industrial Building

Fast-growing Velocity Venture Partners has purchased the 468,000-square-foot Yeadon Industrial Center in Delaware County for $41.75 million. Velocity plans to spend an additional $8 million on capital improvements to upgrade the complex and raise rents to market rates, co-founder Zach Moore said. “It’s not very often we get the opportunity to buy a building of that… Read more »

Velocity Venture Partners Purchases 4 Philly Suburb Office Buildings

Velocity Venture Partners Buys 4 Philly Offices

As the real estate climate changes with rising interest rates and continuing Covid-19 fallout, Velocity Venture Partners is positioning itself to take advantage.  The Bala Cynwyd company bought four properties in Bucks and Montgomery counties since late August, adding to its portfolio of 7.5 million square feet of industrial and flex space spanning 80 buildings… Read more »

Delaware County Industrial Park Sells for $239 Million

Wharton Industrial Expands Philly Area

Two newly constructed industrial buildings in Eddystone have been purchased for $239.4 million, highlighting the continued demand among investors for local warehouses.  The sale comes as both buildings — totaling 770,000 square feet — sit vacant as their new owner searches for potential tenants.  The 64-acre site, known as Delco Logistics Center, was developed and… Read more »

Wharton Industrial Expands Philadelphia Footprint

Wharton Industrial Expands Philly Area

Wharton Industrial continues to expand its Philadelphia-area holdings, buying a pair of fully leased warehouses in Pennsylvania and New Jersey totaling 325,000 square feet.  The properties are at 9130 Griffith Morgan Lane in Pennsauken and 5 East Pointe Drive in the Berks County town of Birdsboro. Both deals involve sale-leasebacks.  The 189,498-square-foot warehouse in Pennsauken… Read more »

Hilco Expands Holdings at Bellwether Site

Hilco Industrial Southwest Philadelphia

An 11.4-acre industrial property in Southwest Philadelphia near the planned Bellwether District was recently purchased for $35 million by an entity affiliated with Hilco Redevelopment Partners, the company behind the ambitious project.  The nearly 70,000-square-foot warehouse at 1600 S. Warfield St. sits just north of the edge of the former Philadelphia Energy Solutions refinery site,… Read more »

Vitamin Manufacturer Expands in Northeast Philadelphia

Vitamin company buys TJX warehouse in NE Philadelphia

A California vitamin manufacturer is expanding in Northeast Philadelphia, leasing a 180,171-square-foot distribution center currently occupied by TJX Cos.  International Vitamin Corp. is moving into 2801 Red Lion Road in the first quarter of 2023, growing from the roughly 110,000 square feet it currently occupies nearby at 10101 Roosevelt Blvd. The company will occupy the… Read more »

Port of Philadelphia Plans to Build New 100,000 SF Warehouse

The facility will be funded through a $20.3 million grant awarded to PhilaPort under the U.S. Department of Transportation’s 2022 Infrastructure for Rebuilding America program. A portion of the funding will also be used toward safety and efficiency upgrades with the modernization of the Tioga Marine Terminal’s main gate.  Construction of the new warehouse is… Read more »

Northeast Philly Distribution Center Sells for $148M

A Northeast Philadelphia distribution center occupied by TJX Cos. has been acquired by a Spanish billionaire for $148.1 million, a 53% increase over what the property traded for three years ago. Phoenix-based VeREIT sold the 1.015-million-square-foot center at 2760 Red Lion Road to Ponte Gadea Compass LLC, property records show. The latter is a Miami… Read more »

Bucks County Logistics Firm Leases 200,000 SF Building

Wharton Industrial Expands Philly Area

Less than a year after buying a 200,000-square-foot industrial building in Croydon, Wharton Equity Partners has landed a new tenant for the vacant property. Jillamy Inc., a third-party logistics company based in Chalfont, toured the building at 2955 State Road and signed a lease eight days later. The company takes occupancy Sept. 8. “It was… Read more »