Keystone Trade Center Lands 518,000-SF Lease

Keystone Trade Center Lands 518,000-SF Lease

US Elogistics, a third-party logistics company based in Monroe, New Jersey, has leased 517,641 square feet—half of an industrial building—at NorthPoint Development’s Keystone Trade Center in Fairless Hills. Located at 500 Ben Fairless Drive (Building 5), the lease is part of the 1,800-acre former U.S. Steel site, according to a quarterly report from Colliers, which handles leasing for the development. The 1.04 million-square-foot building still has 518,055 square feet available. NorthPoint, based in Kansas City, Missouri, is developing a $1.5 billion logistics hub with plans for 20 warehouses totaling more than 10 million square feet, with potential expansion to 15 million square feet.

*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.

Proposed Six-Story Industrial Building Planned for Fox Chase

Proposed Six-Story Industrial Building Planned for Fox Chase

A six-story self-storage facility is being proposed in Fox Chase. The project, located at 7801-45 Oxford Ave., involves consolidating three parcels into a single lot and requires zoning variances to move forward. Plans have been submitted to the Philadelphia Civic Design Review committee for review in February, with the Zoning Board of Adjustment set to consider the project later that month. To make way for the 118,122-square-foot facility, several existing buildings on the site would need to be demolished, according to documents filed with the city.

*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.

Joint Venture to Develop 176,000 SF Warehouse in Montgomery County

Joint Venture to Develop 176,000 SF Warehouse in Montgomery County

Endurance Real Estate Group LLC and Greystar-Thackeray plan to develop a 176,000-square-foot warehouse at 205 Schoolhouse Road in Souderton, Montgomery County. The 14.2-acre site, near I-476 and Route 309, was previously owned by Franconia Technology Associates. Endurance did not disclose the purchase price or development cost.

The new facility will neighbor a 176,700-square-foot warehouse at 209 Schoolhouse Road, which Endurance developed in 2020 without a tenant and later sold for $34.5 million after securing Accupac as an occupant. The joint venture, their 13th since 2006, aims to replicate that success, with construction starting soon and completion expected by late 2025.

*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.

Industrial Sales Drive Real Estate Market in Pennsylvania’s Capital

Industrial Sales Drive Real Estate Market in Pennsylvania's Capital

Harrisburg’s commercial real estate market has seen substantial growth over the past decade, with sales volume rising from $501 million in 2014 to $861 million in 2024—a 30% increase after adjusting for inflation. The industrial sector has been the key driver of this growth, averaging over $300 million in annual sales. By comparison, retail, office, and multifamily sales have averaged $158 million, $147 million, and $82 million, respectively.

This year, local industrial sales set a new record, highlighted by EQT Exeter’s $170.5 million acquisition of Building 1 at Core5 in Middletown—the highest single-building transaction in Harrisburg’s history. Institutional investors like EQT Exeter, Prologis, GIC, Blackstone, Brookfield, and XPO have significantly bolstered the city’s industrial market, cementing its position as a major player in this traditionally tertiary market.

*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.

Harrisburg’s Commercial Real Estate Market Achieves Record Growth, Led by Industrial Sector

Harrisburg's Commercial Real Estate Market Achieves Record Growth, Led by Industrial Sector

Harrisburg, Pennsylvania, has seen remarkable growth in its commercial real estate market over the past decade, with total sales volume climbing from around $501 million in 2014 to $861 million so far this year. Adjusted for inflation, this marks a growth of over 30% during the period.

The industrial sector remains a dominant force in the local market, leading annual sales averages with over $300 million. By comparison, retail properties have averaged $158 million, office properties $147 million, and multifamily properties $82 million annually.

This year, industrial sales in Harrisburg reached a record high, bolstered by EQT Exeter’s $170.5 million purchase of Building 1 at Core5 in Middletown — the largest single-building transaction in the city’s history. Major institutional investors, including EQT Exeter, Prologis, GIC, Blackstone, Brookfield, and XPO, have significantly shaped Harrisburg’s industrial market, traditionally viewed as a tertiary market.

*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.

McDonald’s Distributor Leases New Warehouse in Northeast Philly

McDonald's Distributor Leases New Warehouse in Northeast Philly

Martin Brower, a global supply chain company and McDonald’s largest supply chain partner has leased a 147,000-square-foot warehouse under construction in Northeast Philadelphia. Developed by Crow Holdings at 14515 McNulty Road, the facility will include 57,000 square feet of cold storage and is set for completion in fall 2025. Martin Brower is part of Reyes Holdings, which also owns Reyes Beverage Group and Reyes Coca-Cola Bottling.

*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.

Philly-Area Industrial Tenants Face Steep Rent Hikes at Renewal

Philly-Area Industrial Tenants Face Steep Rent Hikes at Renewal

Philadelphia’s industrial real estate market has emerged as a national leader, ranking third among the 15 largest U.S. industrial markets for sustained rent growth. Over the past five years, industrial rents in the region have risen 57.6%, outpacing the national average of 41.7% and trailing only Phoenix and Atlanta.

This growth stems from high demand during 2021 and 2022, when industrial space availability hit record lows. As demand remains strong, businesses are facing steep rent hikes. For example, a tenant leasing a 25,000-square-foot warehouse at $6 per square foot in 2019 could see annual rent jump from $150,000 to $235,000 if adjusted to current market rates.

*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.

E-Commerce Delivery Firm Secures Entire Philly Industrial Building

E-Commerce Delivery Firm Secures Entire Philly Industrial Building

Veho, a delivery firm serving e-commerce companies, has leased 148,611 square feet at 4501 Richmond St. in Philadelphia. The one-story distribution center, part of Bridge Point Industrial Park, was completed in April and is owned by Bridge Industrial, which acquired the site in 2022 for $24 million after environmental remediation. Previously, the property was used for gas manufacturing in the 1920s and steelmaking from 1929 to 1982. Veho signed the lease in June and plans to move in on Oct. 1. Bridge Industrial operates across major U.S. markets and internationally.

*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 Industrial Real Estate Sees Leasing Surge

Philadelphia Industrial Real Estate Sees Leasing Surge

For the first time in two years, the industrial vacancy rate in the Philadelphia region has declined, dropping from 7% to 6.5% in the third quarter, per Colliers. This shift reflects increased tenant demand, particularly from third-party logistics companies, many based in Asia, that were previously priced out of the Northeast. These companies accounted for nearly 80% of the region’s leasing activity in Q3, according to CBRE.

The current vacancy rate resembles levels from 2016–2019, moving away from the record lows of around 2% seen during the pandemic. A surge in new industrial developments, driven by e-commerce and pandemic-fueled demand, has significantly expanded the region’s industrial space in recent years.

*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.

Industrial Property Spending in Pennsylvania Capital Hits Record

Industrial Property Spending in Pennsylvania Capital Hits Record

The Harrisburg industrial real estate market reached a record $740.6 million in sales in 2024, more than double last year’s total of $328.1 million. This growth caps a decade of steady expansion, solidifying the region as a key Northeast distribution hub. Over the past ten years, annual industrial sales have averaged over $330 million, significantly outperforming office, retail, and multifamily sectors.

*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.