New Distribution Facility Delivered in Southwest Philadelphia

New Distribution Facility Delivered in Southwest Philadelphia

Construction has been completed on a 282,255-square-foot distribution facility in southwest Philadelphia.

The building is located at 3060 South 61st Street, near Exit 347B of I-76 and Exit 13 of I-95. Additionally, close proximity is provided to Philadelphia International Airport.

The facility was developed by DH Property Holdings as a speculative industrial project. Currently, the building is being offered for lease.

Leasing efforts are being led by Jonas Skovdal’s team at Cushman & Wakefield, along with Chris Pennington of Binswanger.

Inside, 5,095 square feet of office space has been constructed. Furthermore, the property includes 50 loading docks and two drive-in doors.

In addition, 72 trailer parking stalls and 184 automobile parking spaces are provided. Overall, the building was designed to support high-volume logistics and distribution operations.

*Article courtesy of Costar

Wolf Commercial Real Estate (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.

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

Speculative Industrial Development Remains Elevated in Philadelphia

Speculative projects still dominate Philadelphia’s industrial construction pipeline

Philadelphia ranked 25th nationally for speculative industrial development as the region closed out 2025. Speculative projects accounted for 76 percent of ongoing industrial construction during the fourth quarter.

The high share of speculative development has persisted for several years. More than 70 percent of industrial projects have been built without secured tenants over the past three years. This trend has contributed to a growing supply of vacant, newly delivered industrial space.

The largest speculative space currently available is located at Garden State Logistics Park in Pennsville, New Jersey. Building A contains approximately 1.2 million square feet. The facility was completed in late 2024 and remains on the market.

*Article courtesy of Costar

Wolf Commercial Real Estate (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.

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

Aging vs. Modern Industrial: A Clear Market Divide

Aging vs. Modern Industrial: A Clear Market Divide

The industrial real estate market has entered a period of clear bifurcation, as older facilities fall out of favor while modern warehouses continue to capture tenant demand. Properties constructed prior to 2010 are experiencing sustained negative absorption, reflecting a fundamental shift in how occupiers evaluate industrial space.

Across the Philadelphia region, older industrial buildings posted a trailing occupancy decline of 2.6 million square feet in the third quarter of last year, while facilities built after 2010 achieved occupancy gains totaling 8.6 million square feet. This divergence intensified throughout 2025, with pre-2010 assets recording a net annual occupancy loss of 10.7 million square feet, compared to a 7.9 million square-foot gain among newer buildings by the end of the third quarter.

Logistics and warehouse-distribution users are increasingly prioritizing modern specifications that legacy properties struggle to accommodate, including clear heights exceeding 32 feet, advanced fire suppression systems, energy-efficient LED lighting, and infrastructure capable of supporting automation and robotics.

If you want this tightened further for a blog intro, market report, or LinkedIn post, just say the word — happy to tailor it.

*Article courtesy of Costar

Wolf Commercial Real Estate (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.

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

DrinkPak Plans to Invest $195M in Philly Facility

DrinkPak to invest $195M in huge Philadelphia manufacturing facility

DrinkPak plans a $195 million investment for a 1.4 million-square-foot build-to-suit facility in South Philadelphia’s Bellwether District. The project will create 174 new jobs over the next three years.

Developers plan the facility on 75 acres as DrinkPak’s flagship East Coast manufacturing location. DrinkPak operates from Santa Clarita, California.

Pennsylvania will invest $2 million to support the project, Governor Josh Shapiro announced Monday. The capital investment will fund Phase 1 production equipment, including filling and variety repacking lines.

DrinkPak has not disclosed the lease terms or duration.

*Article courtesy of Philadelphia Business Journal

Wolf Commercial Real Estate (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.

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

Velocity Venture Sells Industrial Portfolio in Montgomery County

Velocity Venture Sells Industrial Portfolio

Velocity Venture Partners sold a North Wales industrial portfolio at a nearly 50% premium. The firm had purchased the properties three years ago.

The Bala Cynwyd investor sold the seven-building portfolio to NorthBridge for $22.2 million. The buildings total 125,000 square feet near Wissahickon Avenue and Dickerson Road. The sale reached $178 per square foot, one of the region’s highest recent prices for similar industrial assets.

Velocity bought the properties in 2022 for $15 million, or $120 per square foot. The buildings were fully leased at the time, but tenants held short-term leases below market rent, Partner Zach Moore said.

Velocity planned to renovate the portfolio and renew tenants at market rates. About 60% of tenants stayed. The firm filled remaining vacancies with new tenants. All seven buildings were built in the 1980s and ’90s.

Velocity upgraded parking lots, roofs, and other deferred maintenance items. Partner Tony Grelli estimated renovation costs between $500,000 and $750,000.

*Article courtesy of Philadelphia Business Journal

Wolf Commercial Real Estate (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.

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

Montgomery County Industrial Complex Sold

Royal Oak Realty buys Montgomery County industrial complex for $29M

Royal Oak Realty Trust acquired a two-building industrial complex in Montgomery County for $29.25 million. The 14-acre property includes 225,000 square feet at 500 Prosperity Drive in Upper Providence Township.

The buildings are fully leased by Global Packaging Inc. Maguire Hayden Real Estate Co., based in Conshohocken, served as the seller. The developer built the first 125,000-square-foot structure in 2019. Additionally, it added a 100,000-square-foot expansion last year to support Global Packaging’s growing needs.

Maguire Hayden purchased the site in 2019 for $15 million, according to county records. The developer did not respond to a request for comment. The property sits along the Schuylkill River, directly across from Phoenixville in Chester County.

*Article courtesy of Philadelphia Business Journal

Wolf Commercial Real Estate (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.

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

Developer Buys Delco Site

Greek Real Estate plans new spec warehouse in Delaware County

A North Jersey developer plans to expand again in Delaware County. Greek Real Estate Partners will build an 81,000-square-foot industrial facility in Ridley Township. The site sits at 130 S. Fairview Road, near I-95 and I-476, and only seven miles from Philadelphia International Airport.

The East Brunswick-based firm secured a $12.3 million construction loan from Provident Bank. The project is speculative, and the building has not been pre-leased. Additionally, the planned space could support warehousing, distribution, manufacturing, or cold storage. The developer expects completion in the second quarter of 2026.

Greek Real Estate Partners acquired the property for $1 from 130 S. Fairview Road LLC, according to county records. Four months earlier, an entity tied to Everest Medical Group sold the site to the LLC for $7.6 million. As a result, the parcel saw two rapid transfers before the new development began.

Meanwhile, the regional industrial market is shifting. Vacancies climbed toward 10% after a surge of new supply. Rates had dropped near 2% during the peak of the pandemic-driven e-commerce boom.

*Article courtesy of Philadelphia Business Journal

Wolf Commercial Real Estate (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.

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

Northeast Philly Warehouse Trades for $95M

Northeast Philly Warehouse Trades for $95M

A newly built warehouse in Northeast Philadelphia sold for $94.5 million. The sale represents one of the region’s largest industrial deals this year. An affiliate of Principal Financial Group bought the 465,000-square-foot property at 11601 Roosevelt Boulevard. NorthPoint Development, which completed the building in 2020, handled the sale.

The price equals about $203 per square foot. As a result, the deal sits well above the regional industrial average of $159 per square foot, according to Colliers. The warehouse remains fully leased to KLS Logistics, a DHL International affiliate. The tenant still has five years left on its lease.

Principal Financial Group did not share comments about the purchase. Even so, the acquisition highlights continued demand for modern logistics space.

The 24-acre property sits just north of Northeast Philadelphia Airport. It is also near Roosevelt Boulevard and Woodhaven Road. In addition, it lies only four miles from I-95, giving tenants strong regional access.

*Article courtesy of Philadelphia Business Journal

Wolf Commercial Real Estate (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.

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

From Cali to Philly — DrinkPak’s Next Big Move

From Cali to Philly — DrinkPak’s Next Big Move

California-based beverage manufacturer DrinkPak is reportedly targeting South Philadelphia’s Bellwether District for a massive 1.3 million-square-foot build-to-suit production facility, according to multiple industry sources.

The five-year-old company, known for producing energy drinks, sodas, waters, hard seltzers, and canned cocktails, announced earlier this year plans to expand into the Northeast with a third facility — referred to as “DP3.” A social media post from DrinkPak suggests the Philadelphia region will be the chosen site, potentially bringing hundreds of new jobs to the area.

Founded in 2020, DrinkPak has experienced rapid growth with two major manufacturing sites already operating in Santa Clarita, California (its headquarters) and Fort Worth, Texas. The company’s website lists early 2027 as the projected completion date for the new Northeast facility.

If finalized, this lease would mark a significant milestone for developer HRP Group, which has been seeking its first major tenant for the Bellwether District — the redevelopment of the former Philadelphia Energy Solutions oil refinery strategically located near I-95 and I-76.

*Article courtesy of Philadelphia Business Journal

Wolf Commercial Real Estate (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.

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

Prologis Lists Tastykake HQ at Philadelphia Navy Yard

Prologis lists Tastykake's Navy Yard headquarters for sale

Prologis has put Tastykake’s headquarters and main bakery facility at the Philadelphia Navy Yard on the market.

The 345,500-square-foot building, located at 4300 S. 26th Street, was originally developed in 2009 as a build-to-suit project and serves as Tasty Baking Co.’s largest production and distribution hub in the U.S. Prologis acquired the property in its $13 billion merger with Liberty Property Trust in 2020.

Tastykake remains the sole tenant with nearly 10 years left on its 26-year lease, ensuring continued occupancy.

*Article courtesy of Philadelphia Business Journal

Wolf Commercial Real Estate (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.

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