Bridge Investment Group of Salt Lake City paid $33.25 million for 11311 Roosevelt Blvd., a 229,459-square-foot warehouse in Philadelphia, according to city property records. It bought the building from Covington Property Partners, a Dallas company that acquired it in February 2021 for $12.5 million. Covington purchased the building through a bankruptcy sale of National Publishing… Read more »
The Oldies.com building, a highly visible property from the Blue Route when headed south and known for its moniker emblazoned across the structure, has been put up for sale. The owner of the 52,000-square-foot building at 60 Portland Road in West Conshohocken has decided the company no longer needs as much space to distribute the… Read more »
An investment group led by a Connecticut real estate firm has paid $25 million for 1771 Tomlinson Road and 11500 Roosevelt Blvd., two expansive industrial properties in Northeast Philadelphia. With this off-market acquisition, Brickman of Greenwich now controls 960,480 square feet on a total of 54.43 acres across three properties in Northeast Philadelphia that are… Read more »
WCRE is proud to have exclusively represented CE Craft, LLC, in the leasing of 7,000 square feet of warehouse and industrial production space located at the 422 Business Center from Suburban Management Company. CE Craft design, manufacture and distribute custom candles for both end consumers and businesses. CE Craft designs custom scents and creative labels… Read more »
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 »
