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.

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.