MINIMIZING RISK IN SELLING OR DECOMMISSIONING INDUSTRIAL PROPERTY UNDER ISRA

Industrial PropertyIn an improving economy, industrial property can change hands frequently. In a declining one, industrial property owners may be forced to wind up operations and close the facility. If you own or intend to purchase or shut down an industrial facility in New Jersey, pay particular attention to the provisions contained in the state’s Industrial Site Recovery Act.

ISRA is a unique environmental law that requires industrial facility owners and operators to investigate and remediate environmentally impacted media prior to the sale, transfer, or decommissioning of certain types of businesses. The thrust behind the law centers on the assumption that such industrial establishments, typically of the manufacturing variety, discharge, intentionally or not, contaminants during their useful life. Thus, before a sale, transfer, or closure, such property should be cleaned up appropriately. While there are exceptions, ISRA generally governs as follows.

ISRA applies to any individual or entity, corporate or governmental, who owns an industrial establishment, owns the real property of an industrial establishment, or operates an industrial establishment in New Jersey. The law only regulates those facilities listed in ISRA’s Appendix C and as defined by the North American Industry Classification System (NAICS) codes therein. Such industrial
establishments falling under ISRA’s purview include those used for chemical manufacturing, hazardous waste treatment and disposal, and utilities, to name a few. In addition, to qualify as an industrial establishment for purposes of ISRA, the business must have operated in the state on or after December 31, 1983 and use and/or store hazardous substances as defined by the state’s Spill Compensation and Control Act.
As the owner or operator of an industrial establishment, the need to comply with ISRA arises after a triggering event. Triggering events include significant changes in ownership or operation, such as business and property sales, cessation of operations, and leases for 99 years or longer. Examples of transactions not subject to ISRA include corporate reorganization not substantially affecting facility ownership, stock transfers, and easement grants. Similarly, portions of solid or hazardous waste facilities and undeveloped or vacant land are not considered industrial establishments for purposes of ISRA.

If a facility is subject to ISRA, and it does not qualify for any of the waivers or exemptions contained therein, the owner or operation must file a General Information Notice within five (5) days of any triggering event. Once notice is made, the owner or operator must conduct an environmental investigation in compliance with New Jersey’s Technical Requirements for Site Remediation,
found at N.J.A.C. 7:26E. At a minimum, a Preliminary Assessment (PA) must be performed by a Licensed Site Remediation Professional (LSRP) to identify any and all Areas of Concern. It should be noted that the scope of a PA differs materially from the American Society for Testing and Materials’ Phase I standard.

As such, if the PA discovers Areas of Concern, a subsequent Site Investigation shall be performed. The Site Investigation will explore the contaminants and determine if such exceed the current remediation standards contained in N.J.A.C. 7:26C. If contaminant levels exceed current standards, a Remedial Action Workplan (RAW) shall be proposed. The LSRP will oversee all remedial investigations and shall deliver a Response Action Outcome (RAO) once the property is deemed to be remediated to current state standards. For establishments undergoing a sale or transfer, an owner or operator must obtain an RAO, or a LSRPcertified RAW, before the transaction. For properties shutting down, an owner or operator must notify NJDEP after closing and submit a RAO or LSRP-certified RAW thereafter.

ISRA does however, allow an owner or operator to transfer ownership without an RAO or RAW in limited circumstances. An owner or operator may submit a remediation certification pursuant to N.J.A.C. 7:26B-3.3(c) instead of a RAO, or the Department can approve a regulated underground storage tank or remediation in progress waiver or a de minimis quality exemption. It should be stressed that both an owner and/or operator are strictly liable, without regard to fault, for compliance with ISRA. An
owner or operator’s failure to comply with ISRA allows a potential purchaser to rescind the sale and recover damages. Thus, it is of great importance, whether you are looking to buy, sell, or shutter an industrial establishment in New Jersey, to contact an attorney experienced in ISRA. The cost of doing business is great, but the cost of non-compliance is even greater.

For more information, please contact:

julie-lavanJulie LaVan, Esq.
New Jersey Office
11 E. Main Street
Second Floor
Moorestown, New Jersey 08057
(o) 856-235-4079
(f) 856-235-4018

michael-kondrlaMichael Kondrla, Esq.
Philadelphia Office
1515 Market Street – Suite 1200
Philadelphia, PA 19102
(P) 215-854-6398
(f) 215-596-0216

Philly Industrial Space

Philly Industrial SpaceWolf Commercial Real Estate specializes in representing a wide range of Philly industrial space for buyers, sellers, tenants and investors.

The team at our Philadelphia commercial real estate brokerage firm is uniquely qualified in all types of industrial space in Philly, from traditional space for warehousing and manufacturing, to industrial flex space for multiple uses under one roof, such as offices, showrooms, warehousing and more. As a leading Philadelphia commercial real estate broker, we offer clients the highest standard of service and unmatched expertise as we partner with them to help them realize their Philly industrial space goals.

Buying Philly Industrial Space

For buyers and tenants looking for new industrial space in Philadelphia, the knowledgeable team at our Philadelphia commercial real estate brokerage firm is experienced in identifying the available industrial space in Philly that is the best match for your specifics needs. We assure that the sale or lease terms of your new Philadelphia industrial space complements your real estate goals, and we’re with you from the beginning of the process to the very end in order to facilitate a smooth transition into your new Philly industrial space. At Wolf Commercial Real Estate, we have the people, the power and the connections to get you the right industrial space in Philadelphia at the right price.

Selling Philly Industrial Space

For owners looking to sell or lease their industrial space in Philly, there is nothing better than the defined marketing process that our Philadelphia commercial real estate specialists developed and then tailor for each property and sub-market. This comprehensive and proven marketing strategy works exceedingly well to match buyers and tenants with available Philadelphia industrial space.

Whether you are looking for new industrial space in Philadelphia, or seeking buyers or tenants for your available Philly industrial space, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need to make your commercial real estate goals a reality.

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Philadelphia Industrial Space for Lease on Columbus Boulevard

Wolf Commercial Real Estate, the foremost Philly commercial real estate broker that specializes in Philadelphia commercial real estate listings and services, now has available Philly industrial space for lease at 1910 South Columbus Boulevard.

This well-located Philadelphia industrial space for lease is on the third floor of a building at 1910 South Columbus Boulevard.  There is approximately 70,100 square feet of Philly warehouse space for lease in this industrial space in Philadelphia.

The asking lease price for this industrial space in Philadelphia is $5.00/sf NNN.  This Philly industrial building for lease is now available for immediate occupancy from Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm with expertise in Philly commercial real estate listings and services.

This industrial space in Philadelphia has secure access and this Philly industrial space for lease has a loading dock. In addition, this Philadelphia industrial space for lease at 1910 South Columbus Boulevard features a flexible T.I. package. There are 14-foot-high ceilings at this Philly industrial space for lease and this Philadelphia industrial space for lease has column spacing of 25’ x 25’.

Such major retail chains as Target, Marshall’s, and Old Navy are close by this Philly industrial space for lease while Wawa, Boston Market, and Dunkin Donuts can also be found near this Philadelphia industrial space for lease.

This Philly industrial space for lease at 1910 South Columbus Boulevard offers convenient access to the Walt Whitman Bridge and, in addition, this Philadelphia industrial building for lease is easily accessible to I-95, I-76, and I-676.  This Philly warehouse space for lease is available through Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philly commercial real estate listings and services.

More than 2.2 million people reside within 10 miles of this Philadelphia industrial space for lease and the average household income in the same area of this industrial space in Philly is $79,256.

For more information about this Philadelphia industrial space for lease at 1910 South Columbus Boulevard or about any other Philly commercial properties for sale or lease, please contact Joseph Nassib (215-799-6142; joe.nassib@wolfcre.com) or Mitchell Russell (215-799-6143; mitch.russell@wolfcre.com) at Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm that specializes in Philly commercial real estate listings and services.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philly commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philly commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philly commercial real estate brokerage firm.

Philly Mid-Year Industrial CRE Deliveries See Moderate Increase

During the second quarter of 2017, 14 buildings totaling 5,075,807 square feet were completed in the Philadelphia commercial real estate market area. This is roughly 8 percent higher than the 13 buildings totaling 2,848,399 square feet that were completed in the first quarter.

There were 15,226,755 square feet of industrial space under construction among Philadelphia commercial real estate properties at the end of the second quarter 2017.

This report on Philadelphia industrial commercial properties is being made through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.

Some of the notable 2017 deliveries found in the Philadelphia industrial commercial real estate listings include: 575 Old Forge Rd, a 1,002,000-square-foot facility that delivered in second quarter 2017 and is now 100 percent occupied, and Goodman Logistics Center Carlisle Building 2, a 938,828-square-foot building that delivered in second quarter 2017 and is now 0 percent occupied.

The largest projects underway at the end of the second quarter 2017 in the segment of the commercial real estate market including Philly industrial space were FedEx Regional Hub, a 1,200,000-square-foot building with 100 percent of its space pre-leased, and United Business Park – Lot 6, a 1,200,000-square-foot facility that is not pre-leased.

Total industrial inventory among Philadelphia industrial commercial real estate listings amounted to 1,089,388,733 square feet in 21,490 buildings as of the end of the second quarter 2017. The flex sector consisted of 87,184,348 square feet in 3,444 projects. Within the industrial market there were 2,723 owner-occupied buildings accounting for 233,021,749 square feet of industrial space.

This trend is compared to the U.S. national industrial deliveries, which saw 537 buildings totaling 64.42 million square feet completed in the second quarter, with 272.4 million square feet of industrial space still under construction across the country. Total industrial inventory in the U.S. market area amounted to almost 22.2 billion square feet across more than 643,700 buildings, including 92,000 flex projects and 72,000 owner-occupied buildings.

For more information about Philly industrial space or other Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) or Lee Fein (lee.fein@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly industrial space.

Wolf Commercial Real Estate is a Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for Philly industrial space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Industrial Vacancy Rate in Philly Shows Quarterly Increase

The Philadelphia industrial real estate market ended the second quarter of 2017 with a vacancy rate of 5.9 percent.

The vacancy rate was up over the previous quarter, with net absorption totaling positive 1,782,519 square feet in the second quarter. That compares to positive 9,931,174 square feet in the first quarter 2017. Vacant sublease space in the Philadelphia commercial real estate market increased in the quarter, ending the quarter at 1,193,014 square feet.

This report on national and Philadelphia industrial commercial properties is being made through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.

The flex building market recorded net absorption of positive 428,315 square feet while the warehouse building market consisting of Philadelphia commercial real estate properties recorded net absorption of positive 1,354,204 square feet in the second quarter 2017.

Tenants moving into large blocks of space that were among 2017 Philadelphia industrial commercial real estate listings include: Uline moving into 1,070,000 square feet at Liberty Business Center III – Building 1, Mattel moving into 1,002,000 square feet at 575 Old Forge Road, and PepsiCo moving into 502,754 square feet at 545 Oak Hill Road.

Rental rates in the commercial real estate market of Philly industrial space ended the second quarter at $4.84, a decrease over the previous quarter.

A total of 14 buildings added to the Philadelphia industrial commercial real estate listings in the quarter totaling 5,075,807 square feet, with 15,226,755 square feet still under construction at the end of the quarter.

For more information about Philly industrial space or other Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) or Lee Fein (lee.fein@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly industrial space.

Wolf Commercial Real Estate is a Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for Philly industrial space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Philly Industrial Space for Sale at 14 City Shirt Road in Frackville

Wolf Commercial Real Estate, a premier Philly commercial real estate brokerage firm that specializes in Philly commercial real estate listings and services, is now offering highly visible Philly industrial space for sale at 14 City Shirt Road Frackville PA.

This Philly industrial building for sale has +/- 80,000 sf of Frackville industrial space for sale. Also, this Frackville industrial building includes +/- 5,000 sf of office area. The asking sale price for this industrial space in Philly is $1,100,000.

This Philly industrial space for sale at 14 City Shirt Road Frackville PA is being offered for immediate occupancy by Wolf Commercial Real Estate, a Philly commercial real estate broker with expertise in Philly commercial real estate listings and services.

The year of construction for this Frackville industrial building for sale is approximately 1980 and there is mostly 25-foot by 40-inch column spacing inside this industrial space in Philly. This Philly industrial building for sale at 14 City Shirt Road Frackville PA sits on 5.2 acres and there is a 100 percent wet sprinkler system protecting this Philly industrial building for sale.

This industrial space in Philly is well located, with easy access to the I-81 corridor. There is 12-feet to 16-feet of clear height in one portion of this Frackville industrial building for sale while another section of this Philly industrial building for sale offers clear height of 14-feet to 18-feet.

There are Cambridge gas-fired heating units at this Frackville industrial building for sale through Wolf Commercial Real Estate, a Philly commercial real estate broker with expertise in Philly commercial real estate listings and services.

For more information about this Philly industrial space for sale at 14 City Shirt Road Frackville PA or about any other Philly commercial properties for sale, please contact Lee Fein (215-206-5580; lee.fein@wolfcre.com) or Jason Wolf (856-857-6301; jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a Philly commercial real estate broker.

Wolf Commercial Real Estate is the foremost Philly commercial real estate brokerage firm that provides a full range of Philly commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philly commercial properties for buyers, tenants, investors and sellers.  Please visit our websites for a full listing of Philly commercial properties for lease or sale through the team at our Philly commercial real estate brokerage firm.

Philly Industrial Space for Sale in Frackville

Wolf Commercial Real Estate, a premier Philly commercial real estate brokerage firm that specializes in Philadelphia commercial real estate listings and services, is now offering Philly industrial space for sale at 32 Industrial Road Frackville PA.

This Philly industrial building for sale provides +/- 137,500 sf of Frackville industrial space for sale.  This Philly industrial space for sale includes +/- 12,500 sf of two-story office area. This Philly industrial building for sale sits on a lot that is +/- 36 acres. This industrial space in Frackville has a clear height of approximately 18 feet.

The asking sale price for this Philadelphia industrial space for sale is $2,000,000. This Philly industrial space for sale at 32 Industrial Road Frackville PA is available for immediate occupancy through Wolf Commercial Real Estate, a Philly commercial real estate broker with expertise in Philadelphia commercial real estate listings and services.

This Philly industrial building for sale has a 100 percent wet sprinkler system. The column spacing varies at this industrial space in Frackville. This Philly industrial building for sale has metal halide lighting and there is public water, sewer, and natural gas available at this Philly industrial space for sale.

There are 12 tailgate loading doors at this Philadelphia industrial space for sale.  Most of the tailgate loading doors at this Philly industrial building for sale have pit levelers. This Frackville industrial space for sale at 32 Industrial Road Frackville PA also has one 10-foot-by-14-foot drive-in loading door.

This industrial space in Frackville is being offered for sale through Wolf Commercial Real Estate, a premier Philly commercial real estate broker that specializes Philadelphia commercial real estate listings and services.

This Philly industrial building for sale at 32 Industrial Road Frackville PA has mostly gas-fired, ceiling-hung hot-air units with some gas-fired radiant units. In addition, this Philadelphia industrial space for sale provides easy access to the I-81 corridor.

For more information about this Philly industrial space for sale at 32 Industrial Road Frackville PA, about other Frackville industrial space for sale or about any other Philly commercial properties for sale or lease, please contact Lee Fein (215-206-5580; lee.fein@wolfcre.com) or Jason Wolf (856-857-6301; jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a Philly commercial real estate broker.

Wolf Commercial Real Estate is a leading Philly commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philly commercial properties for buyers, tenants, investors and sellers.  Please visit our websites for a full listing of Philly commercial properties for lease or sale through the team at our Philly commercial real estate brokerage firm.

Flattening Yields Stifling U.S. and Philly Industrial Sales Volumes

The U.S. and Philadelphia industrial real estate markets are seeing a shortage of bulk warehouse and logistic centers available for sale along with a shift in focus by industrial REITs from acquisition to development. The resultant flattening in yields will likely produce lower investment sales volumes this year throughout the commercial real estate market – including Philly industrial space.

U.S. logistics and light industrial properties investment sales volumes fell 13 percent year-to-year in the first quarter of 2017, even though billions of dollars have been raised for real estate investment by global funds.

Along with increased real estate allocations in the U.S. and Philadelphia commercial real estate markets by pension funds and other groups, buyers face fierce competition for the few available industrial portfolios and individual assets on the market, according to CoStar’s First-Quarter 2017 U.S. Industrial Market Review and Forecast.

This report on national and Philadelphia industrial commercial properties is being made through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.

With the shortage of available industrial property on the market, pricing is at record highs across all tiers. “We’re definitely seeing a bit more caution out there” among investors, said Rene Circ, Director of Industrial Research for CoStar. “While we don’t expect investment sales volume to be higher than last year, we do expect there will continue to be far more buyers than sellers.”

Investors in U.S. and Philadelphia commercial real estate properties have become more disciplined during this cycle, and the duration of low interest rates has gradually adjusted the return expectations of industrial investors, Circ said. Rather than chasing riskier assets in riskier markets, investors appear to be accepting lower going-in yields.

“Appreciation and price growth are slowing and it’s going to be very difficult to get further gains from cap rate compression, especially at the top of the market,” Circ added, “but we will still see very significant embedded net operating income growth over the next couple of years.”

One reason for the deceleration in sales volume regarding both national and Philadelphia industrial commercial real estate listings is a reallocation of capital by publicly traded industrial REITs such as Prologis (NYSE: PLD) and other investors from acquisition to development activity.

The industrial sub index of the CoStar Commercial Repeat Sale Index, bolstered by high occupancy and rent growth, logged the second-highest growth rate in the U.S. commercial real estate market – including Philly industrial space – at 2.3 percent during the first quarter, just behind retail, according to the most recent CCRSI release.

Comparing current average investor yields among U.S. and Philadelphia industrial commercial real estate listings with forecasted rental rate growths, such markets as those in the Jacksonville, Tampa, and Orlando areas, along with Boston and Chicago, are among a shrinking pool that still present attractive buying opportunities for investors, Circ noted.

For more information about Philly industrial space or other Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) or Lee Fein (lee.fein@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly industrial space.

Wolf Commercial Real Estate is a Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for Philly industrial space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Philly Industrial Space for Sale in Delano

9 Schultz DriveWolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes Philadelphia commercial real estate listings and services, is now offering Philly industrial space for sale at 9 Schultz Drive Delano Pa.

This Philadelphia industrial building for sale is a one-story Delano industrial building for sale with approximately 146,300 square feet of Philly industrial space for sale.  This Philadelphia industrial space for sale includes a modern, two-story office with air-conditioning and approximately 3,300 square feet of space.

The asking sale price for this industrial space in Philly at 9 Schultz Drive Delano Pa. is available through Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm with expertise in Philadelphia commercial real estate listings and services.

This Philadelphia industrial space for sale is located on approximately 9.5 acres (irregular) directly off I-81 at 9 Schultz Drive Delano Pa.  This Delano industrial space for sale has a steel frame with concrete block and brick veneer.  The floors at this Philadelphia industrial building for sale are reinforced concrete and the roof is flat, built up with metal deck.

This Philly industrial building for sale originally was constructed in 1968 and more than doubled in size in 1988. The original building at this industrial space in Philadelphia features approximately 64,300 square feet of Philly warehouse space for sale.  The columns in this section of this Delano industrial building for sale are spaced mostly at 33 feet by 55 feet.  The 1988 expansion at this Philadelphia industrial space for sale added another 82,000 square feet of Delano industrial space for sale.  The columns in the newer section of this Philly industrial space for sale are spaced mostly at 45 feet by 55 feet.

The entire structure at this industrial space in Philly has 18 feet to 19 feet of clear ceiling height under the bar joist.  The loading facilities at this Philly industrial building for sale feature three tailgate truck docks and two drive-in doors.  This industrial space in Philadelphia is being offered for immediate sale through Wolf Commercial Real Estate, a Philadelphia commercial real estate broker that specializes Philadelphia commercial real estate listings and services.

Site improvements at this Philly warehouse space for sale at 9 Schultz Drive Delano Pa. include a concrete dock apron and staging area; a 50-foot by 78-foot covered, concrete storage pad that is attached to the south elevation of the building addition; a fire loop; and exterior lighting.

This Delano industrial building for sale has a fire protection system that features a fully sprinklered wet system indoors and a dry sprinkler system in the covered outside storage area.

Electrical service in this Philadelphia industrial building for sale is 480/220 volt three phase.  The heat source at this industrial space in Philly is propane. The original building at this Delano industrial space for sale has infrared heating units, while the expansion at this Philly industrial building for sale has floor-mounted, air-rotation, propane-fired hot air furnaces.

This industrial space in Philadelphia features fluorescent lighting in the offices and T-5 lighting in the manufacturing area.  There are adequate restrooms and locker rooms throughout the building at this Philly warehouse space for sale

For more information about this Philly industrial space for sale at 9 Schultz Drive Delano Pa., about other Philadelphia industrial space for sale or about any other Philadelphia commercial properties for sale or lease, please contact Lee Fein (215-206-5580; lee.fein@wolfcre.com) at Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.

Wolf Commercial Real Estate is a leading Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.  Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through the team at our Philadelphia commercial real estate brokerage firm.

Construction Not Keeping Up with Demand in U.S. and Philadelphia Industrial Space Markets

new Jason stats graphic - June 2015While huge warehouse and distribution mega-boxes get most of the attention from analysts and institutional capital, the unassuming light-industrial market – both across the U.S. and involving Philadelphia commercial properties – has quietly emerged as the sleeper in today’s red-hot U.S. industrial market.

At midyear, the overall industrial sector, including industrial space in Philadelphia, led all major commercial property types in growth of investment sales and rental rate appreciation. The light industrial and manufacturing subtype between 100,000 to 300,000 square feet, nationally and among Philadelphia commercial real estate listings, boasted the highest year-over-year rent growth of any property type at 5.7%, compared to 5.4% for logistics buildings, 4% for office and 3.9% for apartments.

In fact, U.S. light industrial and Philadelphia industrial space are so hot that even older, lower-functioning buildings — many located on infill properties in supply-constrained markets — posted annual rent growth of 6.1%, the strongest rent growth within the entire industrial spectrum, according to a report from The CoStar Group that is being shared by Wolf Commercial Real Estate, a leading Philadelphia commercial real estate brokerage firm.

Another reason for the spiking rents is that the both the U.S. light industrial and the industrial space in Philadelphia sectors have seen little growth in new supply in the current cycle. Most big-name capital sources remain focused on acquiring and developing mega-logistics properties when searching among both national and Philadelphia commercial real estate listings. These properties are capturing the bulk of industrial net absorption, fueled by the so-called “Amazon effect” of e-commerce as retailers reconfigure their supply chains around same-day or next-day shipping.

Investors may finally be ready to take another look at light industrial development, Philadelphia industrial space and other Philadelphia commercial properties. As rents for these smaller buildings have ticked up, replacement rents now appear to be high enough in many markets to justify new construction.

“Finally, light industrial development is starting to pencil out,” said Rene Circ, CoStar Director of Research, Industrial Property who prepared the report that was shared with Wolf Commercial Real Estate, a top Philadelphia commercial real estate brokerage firm. “The tenants are there, the economy is fine, but the space is not.”

Replacement rents for both national industrial space and industrial space in Philadelphia have been high enough to support construction of larger warehouse and distribution properties on both national and Philadelphia commercial properties for several quarters, and developers have heeded the call. While maintaining a measured pace of development in most markets, logistics construction last year finally passed the average of 120 million square feet under construction annually during the previous expansion cycle between 2002 through 2007.

That said, light industrial construction involving both coast-to-coast and Philadelphia commercial real estate listings has remained stubbornly below its previous cycle average of 40 million square feet under construction annually.

“It’s very unusual for industrial to post this kind of rent growth and beat out the office and multifamily sectors,” Circ said in his report on national and Philadelphia industrial space that echoes the beliefs of the local market experts at Wolf Commercial Real Estate, a highly respected Philadelphia commercial real estate brokerage firm.

For more information about Philadelphia industrial space or any Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a premier Philadelphia commercial real estate broker that specializes in industrial space in Philadelphia.

Wolf Commercial Real Estate is a Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, industrial buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings and services, provides unparalleled expertise in matching companies and individuals seeking new Philadelphia industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for industrial space Philadelphia for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.