Connecticut firm buys 2 industrial buildings in Northeast Philadelphia for $25M

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 within close proximity of each other. 

Last September, a separate Brickman investment group paid $33.39 million for 11200 Roosevelt Blvd., a 454,353-square-foot industrial building on 26 acres. In the most recent acquisition, the property at 11500 Roosevelt totals 298,627 square feet on 12.88 acres. The building was developed in 1965. The other property at 1771 Tomlinson totals 207,500 square feet on 15.25 acres. It was also built in 1965 and had formerly been occupied by Fisher Auto Parts. 

*Article courtesy of Philadelphia Business Journal

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