Stateside Vodka Relocates Headquarters

Stateside Vodka to move headquarters to Northeast Philadelphia, increase operations space

Stateside Vodka is moving its longstanding Philadelphia headquarters to a new location, expanding its operations space by 900%.

The Olde Kensington distiller has secured a long-term lease for a 40,000-square-foot building in Northeast Philadelphia. This space is being developed by real estate investment firm East Capital Partners, according to CEO Clement Pappas in an interview with the Business Journal. The new facility, located at 13000 McNulty Road near Roosevelt Boulevard, will primarily focus on manufacturing and distribution operations, with around 12,000 square feet dedicated to office space.

“This move will enable us to continue growing and expanding both our headquarters operations and local distribution efforts,” Pappas noted.

*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.

Alterra Secures $900M for Additional Industrial Outdoor Storage Purchases

Alterra Secures $900M for Additional Industrial Outdoor Storage Purchases

Alterra IOS has secured nearly $1 billion for further acquisitions of industrial outdoor properties nationwide, as indicated by federal filings. This substantial fundraising underscores the Philadelphia-based firm’s assertive strategy in this often overlooked asset class, bolstering its multibillion-dollar portfolio.

Disclosed in a recent filing with the U.S. Securities and Exchange Commission, the $900 million fundraising effort highlights Alterra’s significant investment in its industrial outdoor storage division over recent years, reflecting the company’s recognition of substantial opportunities in this sector.

Named Alterra IOS Venture III LP, the latest fund sets a minimum investment threshold for outside investors at $150,000. Fundraising commenced in May 2023 with an initial target of $750 million, as previous filings indicate. By May 2023, Alterra had already raised $168.3 million toward this fund.

*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 Philadelphia commercial real estate listings and services, property management services, and 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 website for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Premier Industrial Land For Sale

Premier Industrial 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 1800 Union Landing Road, Cinnaminson, NJ 08077. The Cinnaminson property is available for sale.

The property holds +/- 4.91 Acres that could be utilized by land and Industrial users.

Features of 1800 Union Landing Road

Union Landing Road is ideal for self storage, truck parking, or warehouse development. The property is located near various auto shops, hardware stores, and national retailers like Walmart, Dollar Tree, Sam’s Club, etc. Additionally, the propety as easy access to Routes 130 and 73 and is 13 miles from Philadelphia.

For more information about the lease price or a tour of the industrial space, please contact Phil Costa, Vice President, at (609) 680 4942 or via email phil.costa@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.

Developer Aims for Ideal Fit with Planned 150,000-SF Warehouse in Northeast Philadelphia

Cherry Hill goes after bumps in the road this year with largest-ever street improvement program

Crow Holdings Development has acquired a 14.4-acre parcel in Northeast Philadelphia for $8 million, intending to construct a 150,000-square-foot industrial facility.

The Dallas-based real estate investment firm purchased the site, located at 14515 McNulty Road, from the Philadelphia Authority for Industrial Development, a subsidiary of the quasi-public Philadelphia Industrial Development Corp.

Clark Machemer, Senior Managing Director at Crow Holdings Development, noted that while most new industrial warehouses exceed 300,000 square feet, he perceives potential in developing a smaller footprint at this location.

*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 Philadelphia commercial real estate listings and services, property management services, and 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 website for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Equus Capital Partners has Acquired an Industrial Portfolio Valued at $124 Million

Equus Capital Partners has Acquired an Industrial Portfolio Valued at $124 Million

Equus Capital Partners, headquartered in Newtown Square, has recently completed the acquisition of more than 1.2 million square feet of industrial space in the Charlotte region, as part of a broader portfolio purchase.

A subsidiary linked with the real estate investment firm invested $124 million in acquiring a total of nine buildings, encompassing 1.4 million square feet of industrial space.

This transaction involves eight properties situated within the Charlotte market, with the remaining one located in the Greensboro region. The Charlotte-area assets are distributed across Lincoln, Cleveland, and Iredell counties, featuring sizes ranging from 38,480 to 382,668 square feet.

*Article courtesy of 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 Philadelphia commercial real estate listings and services, property management services, and 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 website for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

In 2024, Philadelphia’s Industrial Development Undergoes a Transformative Shift

In 2024, Philadelphia's Industrial Development Undergoes a Transformative Shift

After a robust year of building completions in 2023, the pace of industrial development in Philadelphia has notably decelerated in early 2024. Escalating financing costs and an accumulation of unleased inventory have instilled a sense of caution among developers, particularly as industrial rent growth experiences a slowdown across the market.

The exuberant industrial leasing period observed in 2021 and 2022 motivated developers to embark on an unprecedented volume of new projects in recent years. In 2023 alone, the completion of nearly 21.7 million square feet of industrial space, distributed across 80 buildings, marked a significant achievement, with six structures surpassing the 1 million square feet milestone.

*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 Philadelphia commercial real estate listings and services, property management services, and 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 website for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Philadelphia Industrial Assets Remain Top Choice for Real Estate Investors for Third Consecutive Year

Philadelphia Industrial Assets Remain Top Choice for Real Estate Investors for Third Consecutive Year

Despite a 57% annual sales decline in 2023, industrial properties in the Philadelphia region maintained their status as the preferred asset class. The industrial sector is poised to exhibit resilience in the upcoming quarters, contrasting with a general slowdown in sales across all property types.

The strength of the industrial sector can be attributed to sustained consumer spending. With a commanding 32% share, equivalent to $1.31 billion, industrial property investments outperformed other segments in the Philadelphia real estate market. Retail properties constituted 28% of the annual sales, office sales comprised 26%, while multifamily property sales dwindled to a mere 13% of the total sales for the year.

*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 Philadelphia commercial real estate listings and services, property management services, and 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 website for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Northeast Philly Property to be Redeveloped into Larger Warehouse

Texas firm to redevelop Northeast Philadelphia property into larger warehouse

A Houston-based real estate firm has completed the acquisition of a warehouse in Northeast Philadelphia with intentions to demolish and redevelop it into a larger industrial facility. This acquisition, situated at 10101 Roosevelt Blvd., marks an expansion for Lovett Industrial within the Philadelphia market. Spanning 14.5 acres, the firm intends to dismantle the existing 109,000-square-foot structure and replace it with a new 176,000-square-foot industrial property.

Earlier in April, International Vitamin Corp. had announced its plans to phase out manufacturing operations at the West Torresdale location, subsequently putting the building up for sale. The purchase price for the building by Lovett Industrial remains undisclosed, and the sale has yet to be officially recorded in city records.

*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 Philadelphia commercial real estate listings and services, property management services, and 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 website for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Velocity Venture Acquires Industrial Property in Montgomery County

Velocity Venture Partners has purchased a 340,000-square-foot industrial building in Montgomery County for $30.7 million

Velocity Venture Partners has purchased a 340,000-square-foot industrial building in Montgomery County for $30.7 million, aiming to enhance and expand the premises. Positioned at 3400 E. Walnut St. in Colmar, the 28-acre property sits between Route 309 and County Line Road, less than a mile from SEPTA’s Regional Rail Colmar station. Zach Moore, Velocity’s Founding Partner, lauded the site as one of the few industrial buildings in Montgomery County in close proximity to a train station.

The entire building is currently occupied by Dorman Products (NASDAQ: DORM), an auto body parts supplier. Velocity acquired the property from BREP I LP, a partnership under the ownership of the Berman family, including Dorman’s Executive Chairman, Steven Berman, as per Dorman’s 2022 annual report.

*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 Philadelphia commercial real estate listings and services, property management services, and 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 website for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Expansive Industrial Sublease Opportunities in Lehigh Valley, Pennsylvania

xpansive Industrial Sublease Opportunities in Lehigh Valley, Pennsylvania

The volume of industrial sublease space in Lehigh Valley, Pennsylvania has notably increased this year, more than doubling from 3.9% in the first quarter to 8.8% by the end of November. This mirrors a larger national pattern, where industrial sublet availability has risen from 7.2% to 10% over the same period.

Initially, pandemic-driven demands for warehouse and distribution centers had squeezed industrial sublet availability to a low of 2.5% in early 2022. However, recent quarters have seen a shift due to inflation, heightened capital costs, and macroeconomic uncertainties, cooling the previously high demand. Consequently, sublet availability has been consistently rising since early 2022. This turning point coincided with the Federal Reserve’s initiation of interest rate hikes in March 2022 to address inflation concerns.

*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 Philadelphia commercial real estate listings and services, property management services, and 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 website for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.