Posts Categorized: Philly Industrial Space

Alliance HP Sells Southwest Philly Industrial Portfolio

Alliance HP sells Southwest Philadelphia industrial portfolio for nearly double 2021 purchase price

Alliance HP has sold three industrial buildings in Eastwick near the Philadelphia International Airport for a combined $24.7 million, or 86% more than it paid two years ago. The buildings total 122,373 square feet. A buyer could not be determined and the sale has not yet been recorded in public records. The three Philadelphia buildings… Read more »

DH Property Secures $175M for Philly Industrial Project

DH Property secures $175M for 760,000-SF Northeast Philadelphia industrial project

New York-based DH Property Holdings has secured $135 million in construction financing for a two-building, 760,000-square-foot warehouse distribution complex in Northeast Philadelphia at 5000 Richmond St. Barings, a subsidiary of MassMutual, provided the construction loan. The developer also secured $40 million in limited partner equity. *Article courtesy of Philadelphia Business Journal Wolf Commercial Real Estate,… Read more »

Wharton and Walton Sold a 1.3M SF Portfolio Outside of Philadelphia

Wharton, Walton Sell 37-Property Industrial Portfolio in New Jersey for $194.5 Million

Wharton Industrial and Walton Street Capital have sold a 1.3 million-square-foot portfolio in New Jersey outside of Philadelphia for $194.5 million to DRA Advisors. Twinbridge Industrial Park, which has 37 properties and is in Pennsauken, traded hands, divested by Wharton and its joint venture partner, Walton, the sellers said in a press release. PGIM Real… Read more »

No New Large Industrial Leases Across Philly Region

The Philadelphia region’s industrial market has experienced a significant shift in leasing trends

The Philadelphia region’s industrial market has experienced a significant shift in leasing trends. Historically, about five industrial leases exceeding 500,000 square feet were signed each year since 2015. But halfway into 2023, no industrial leases of that size cohort have been recorded. Over the past six years, top retailers such as Amazon, Walmart and Burlington… Read more »

Largest Amazon Distribution Center to Open in Fall

Amazon plans to open its new distribution center in Southwest Philadelphia early this fall following a lengthy delay.

Amazon plans to open its new distribution center in Southwest Philadelphia early this fall following a lengthy delay.  The facility at 6901 Elmwood Ave. will be Amazon’s largest in Philadelphia in terms of volume and employee headcount. The company said “several hundred” people will be employed at the 140,000-square-foot warehouse and it will initially handle… Read more »

Philadelphia I95 Collapses: Could Hurt East Coast Supply Chain

I95 collapse will affect the supply chain

Only one section of Interstate 95 collapsed in Northeast Philadelphia on Sunday morning, but the effects of the tragic infrastructure failure may reverberate across a wide area. The collapse, which claimed one life and shut down I-95 around the Cottman Avenue exit indefinitely, has already disrupted the supply chain in the Northeast, U.S. Secretary of Transportation Pete Buttigieg said… Read more »

Velocity Venture Partners Purchase Quakertown Shopping Center

The 225,000-square-foot Richland Plaza is 90% vacant.

As tenants fled from the Richland Plaza shopping center in Quakertown, Velocity Venture Partners Founding Partner Zach Moore thought, “There’s got to be an opportunity here.” At 90% vacant, Velocity acquired the 225,000-square-foot retail center for $16.7 million on Wednesday and plans to convert it into a multi-tenant industrial site. The entire project, combining the acquisition cost… Read more »

Bridge Industrial Starts on Construction for Two-Building Project in Philadelphia

Two-Building Project Adding More Than 750,000 Square Feet in Central Infill Location

Chicago-based Bridge Industrial, a privately owned real estate operating company and investment manager that acquires and develops industrial real estate in supply-constrained core industrial markets, has started construction on a two-building speculative development in Philadelphia named Bridgepoint Philadelphia.  Bridge, which acquired the infill industrial site off Orthodox St. near the Betsy Ross Bridge with access… Read more »

Light Industrial Building Available for Sale in Philadelphia

6741 Essington Ave Philadelphia PA

Wolf Commercial Real Estate, the leading commercial real estate and advisory firm in South Jersey has been appointed the exclusive listing agent for 6741 Essington Ave in Philadelphia, Pennsylvania. The Philly property is available for sale, priced at $899,000. The property is +/- 4,182 square-feet and is zoned I-2. Features of 6741 Essington Ave in… Read more »

Port Receives Permit for Southwest Philadelphia Warehouse

Port Philadelphia Receives Permit for Warehouse

The Port of Philadelphia’s ongoing plan to expand its physical footprint is taking another step forward with the approval of a new warehouse.  The port on Thursday received a zoning permit to build a storage, distribution and logistics facility on 3060 S. 61st St. by the Schuylkill River. The 277,200-square-foot warehouse is being planned on a more… Read more »