Industrial Developers Head to Southern Philadelphia

Industrial Developers Head to Southern Philadelphia

Amid a backlog of unleased speculative warehouse developments and rising interest rates, construction in Philadelphia’s industrial market has slowed. However, with a proposed pipeline exceeding 75 million square feet across 250 buildings, developers remain optimistic about strong pent-up demand and expect a quick rebound once market conditions improve. Over the past three years, the Philadelphia industrial market has added 50 million square feet of new space, and 70 million square feet over the past five years.

*Article courtesy of Costar

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

Amazon Warehouse in $198M Philly-Area Deal

Amazon Warehouse in $198M Philly-Area Deal

KKR has acquired three fully-leased Philadelphia-area warehouses as part of a $377 million deal involving six properties across the U.S. The local properties, according to CoStar Group data, sold for a combined $198 million. They include: Amazon’s 650,000-square-foot fulfillment center at 240 Mantua Grove Road, West Deptford, NJ, sold for $90.8 million. Built in 2018, it features a 41-foot clear height and 57 dock doors. Dunkin’s 301,872-square-foot distribution center at 20 E. Park Drive, Westampton, NJ, sold for $61 million. Penn Jersey Packaging’s 255,336-square-foot warehouse at 9355 Blue Grass Road, Philadelphia, sold for $46.2 million. The properties were previously owned by Link Logistics, the industrial real estate arm of Blackstone Group. The Amazon Center last traded for $78 million in 2019.

*Article courtesy of Philadelphia Business Journal

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

PNC Operations Center to Be Demolished for New Warehouse

PNC Operations Center to Be Demolished for New Warehouse

The structures at 8800 Tinicum Blvd. will be replaced by a one-story distribution center, according to a zoning permit. The new facility will include two loading spaces, 618 parking spaces, and 48 bicycle spaces. PNC, the site’s former tenant, relocated its offices to 1600 Market St. in April, a company spokesman confirmed to Bisnow on Wednesday. He emphasized that the move did not impact the workforce. “We continually assess our real estate portfolio to ensure optimal use of our facilities, considering factors such as building and space conditions, overall occupancy, and operational needs,” the spokesman stated. He added that the banking operations center consolidated its footprint at the Eastwick Center, transitioning employees to its regional headquarters at 1600 Market St. and other locations.

*Article courtesy of BisNow

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

Small-Bay Warehouses Fuel Philadelphia’s Industrial Sales

Small-Bay Warehouses Fuel Philadelphia's Industrial Sales

In the first half of 2024, Philadelphia’s industrial real estate market saw a shift as investors prioritized small-bay warehouses over larger box properties. Small-bay warehouses, defined as 50,000 square feet or less, made up 86% of industrial sale transactions, a significant rise from the 10-year average of 77%. In contrast, larger warehouses over 250,000 square feet represented just 1% of sales, only a third of their decade-long average. Despite ongoing interest from private and institutional investors, higher interest rates and compressed asset valuations have dampened investment in larger warehouse assets.

*Article courtesy of Costar

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

J.G. Petrucci starts Bucks County Project

J.G. Petrucci starts Bucks County Project

J.G. Petrucci Co. has begun construction on a 320,250-square-foot warehouse in Bucks County, highlighting its focus on East Coast industrial properties. Partnering with Boston-based Cabot Properties, the New Jersey firm is developing the site at 4626 Somerton Road in Bensalem, near I-276 and Route 1. Additionally, J.G. Petrucci Co. acquired an $8.6 million industrial building at 717 Callowhill St. in Philadelphia, leased by Grainger Industrial Supply. The company plans to maintain and operate the Philadelphia building without redevelopment.

*Article courtesy of Philadelphia Business Journal

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

Premier flex/industrial Building & land For Sale

Premier flex/industrial Building & land For Sale

Wolf Commercial Real Estate, the leading commercial real estate and advisory firm in South Jersey has been appointed the exclusive listing agent for 1636 Bridgeboro Road, Edgewater Park, NJ 08010. The Edgewater Park property is available for sale.

The property holds +/- 4,000 square feet on 4 acres, that could be utilized by land and industrial users.

Features of 1636 Bridgeboro Road

1636 Bridgeboro Road is ideal for car/truck repair, light industrial users, contractors, and industrial outdoor storage. The property is zoned C-Ll-1 (Commerical-Light Industrial District) and has septic/city water. Additionally, the property incldues an office, front desk, kitchenette, a solar panel array in the yard and ample industrial storage in the rear yard.

1636 Bridgeboro Road is less than 1/2 mile from heavily traveled Route 130 and is within close proximity to the NJ Turnpike, the PA Turnpike, and all bridges connecting to NJ-PA.

For more information about the sale price or a tour of the industrial space, please contact Ryan Barikian, Senior Advisor, at (856) 857 6307 or via email ryan.barikian@wolfcre.com. To review the brochure, please click here.

Wolf Commercial Real Estate is a full-service CRE brokerage and advisory firm with a full range of commercial real estate listings and services. The firm handles a variety of properties including medical, office, industrial, retail and investment. WCRE represents buyers, landlords, investors, tenants and sellers and also provides property management services. For a full list of buildings and suites that are available for sale or lease, visit www.wolfcre.com.

Premier South Jersey Retail Property for Sale

Premier South Jersey Retail Property for Sale

Wolf Commercial Real Estate, the leading commercial real estate and advisory firm in South Jersey has been appointed the exclusive listing agent for 526 Cinnaminson Ave, Palmyra, NJ 08065. The Cinnaminson property is available for sale.

The property holds +/- 1,000 square feet on .13 acres, that could be utilized by retail users.

Features of 526 Cinnaminson Ave

526 Cinnaminson Ave is a former auto-repair shop, that is recently renovated. The property has an oversized bay and garage, a large office with traditional bay windows, 2 back storage areas and a loft area, and ample parking. Additionally, the property is within close proximity to Routes 73 & 130 and the Tacony Palmyra Bridge.

For more information about the sale price or a tour of the industrial space, please contact Eric Flocco, Vice President, at (609) 790 6940 or via email eric.flocco@wolfcre.com or Corey Hassman, Senior Advisor, at (856) 857 6300 or via email corey.hassman@wolfcre.com. To review the brochure, please click here.

Wolf Commercial Real Estate is a full-service CRE brokerage and advisory firm with a full range of commercial real estate listings and services. The firm handles a variety of properties including medical, office, industrial, retail and investment. WCRE represents buyers, landlords, investors, tenants and sellers and also provides property management services. For a full list of buildings and suites that are available for sale or lease, visit www.wolfcre.com.

Demand for Philadelphia’s Small-Bay Warehouses Outpaces Supply

Demand for Philadelphia’s Small-Bay Warehouses Outpaces Supply

While headlines and reports often highlight mega-warehouses, Philadelphia’s small-bay industrial market has quietly flourished. These facilities, typically under 50,000 square feet, are the most sought-after segment, yet availability is limited, leading to a shrinking market for companies in need of smaller industrial spaces.

Since 2022, construction has predominantly centered on “big-box” warehouse facilities, those exceeding 500,000 square feet, with 23 million square feet completed, compared to just 1.2 million square feet completed of small-bay space.

*Article courtesy of Costar

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

Philadelphia Leads Pennsylvania in Industrial Construction

Philadelphia Leads Pennsylvania in Industrial Construction

Demand has surged in Pennsylvania’s top industrial markets, leading to a wave of new development. Last year saw a record number of completions, adding over 110 million square feet of industrial space in the past four years across Philadelphia, Lehigh Valley, the I-81 Corridor, Harrisburg, and York.

Philadelphia, the ninth largest U.S. industrial market, experienced the most significant growth, with over 250 new buildings totaling 63 million square feet. After accounting for 14.2 million square feet of demolitions, Philadelphia’s net inventory gain since Q1 2020 is 48.8 million square feet, an 8.5% increase. Half of this new space is concentrated in Burlington, Gloucester, Camden, and Salem counties in southern New Jersey, where supply-driven vacancy rates have been rising.

*Article courtesy of Costar

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

Premier Cherry Hill Flex/Industrial Suite for Lease

Premier Cherry Hill Flex/Industrial Suite for Lease

Wolf Commercial Real Estate, the leading commercial real estate and advisory firm in South Jersey has been appointed the exclusive listing agent for 2091 Springdale Road, Cherry Hill, New Jersey 08003. The Cheryy Hill property is available for lease.

The property holds +/- 3,075 square feet that could be utilized by industrial users.

Features of 2091 Springdale Road

2091 Springdale Road is available on June 1, 2024. The property has one 8×8 loading dock, a 16 inch height, three indivudal offices, a reception area, conference room, kitchenette and a server room. Additionally, the property has a building and suite-front signage and is zoned industrial resricted. Furthermore, the property has a dry sprinkler system, a fully conditioned warehouse, and 208/120 Volt – 3 Phase/4 Wire 100 Amps Panel.

2091 Springdale Road has easy access to Routes 70 and 73, the NJ Turnpike and I-295. The property has close proximity to various hotels, restaurants, and retailers and is 15 minutes from Tacony-Palmyra and Ben Franklin Bridges.

For more information about the lease price or a tour of the industrial space, please contact Erin Warwick, Senior Advisor, at (856) 857 6303 or via email erin.warwick@wolfcre.com and Ryan Barikian, Senior Advisor, at (856) 857 6307 or via email ryan.barikian@wolfcre.com. To review the brochure, please click here.

Wolf Commercial Real Estate is a full-service CRE brokerage and advisory firm with a full range of commercial real estate listings and services. The firm handles a variety of properties including medical, office, industrial, retail and investment. WCRE represents buyers, landlords, investors, tenants and sellers and also provides property management services. For a full list of buildings and suites that are available for sale or lease, visit www.wolfcre.com.