Eagle Cliff Real Estate Partners has acquired a 196,000-square-foot industrial property in Northeast Philadelphia for $24.05 million, marking its second local investment in under a year. The warehouse, located at 2045 Wheatsheaf Lane, changed hands from Kairos Real Estate Partners and sits on an 8.3-acre site positioned between Port Richmond and Frankford, just minutes from the Betsy Ross Bridge.

The sale price reflects a significant appreciation, nearly doubling the property’s value since it last sold for $12.8 million in 2021. The building is fully leased to multiple tenants, including Crown Boiler, and offers strategic access near the intersection of Frankford and Torresdale avenues.

*Article courtesy of Philadelphia Business Journal

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