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,… Read more »
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… Read more »
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… Read more »
Foxfield has obtained $132.4 million in financing to support its newly completed Lower Bucks Logistics Hub in Langhorne, Pennsylvania. San Antonio-based Affinius Capital provided the loan for the two-building, 814,567-square-foot industrial development located at 1600 and 1620 E. Old Lincoln Highway, also known as Route 213. The Boston-based developer delivered two modern warehouses positioned on… Read more »
Industrial property values in Pennsylvania’s eight largest markets rose 6.9% to 15.7% over the past three years. Lancaster saw the biggest jump at 15.7%. Limited new construction and strong demand for warehouse space drove prices higher. Developers added just 3 million square feet of space, a 3.3% increase in supply—about half the growth rate of… Read more »
Atlanta-based Stonemont Financial Group has made its first industrial investment in the Philadelphia region, acquiring a South Jersey property for $25.5 million. The 32-acre site, located at 300 Progress Court in Logan Township, was sold by Advanced Drainage Systems Inc., which had previously occupied the facility but vacated following the sale. The deal reflects a… Read more »
Philadelphia’s industrial real estate sector is facing one of its steepest slowdowns in over a decade, with demand hitting multi-year lows. Uncertainty surrounding trade policies announced earlier this year has led many logistics and manufacturing firms to delay expansion plans and reassess supply chain strategies. By the close of the third quarter, industrial absorption had… Read more »
Eagle Cliff Real Estate Partners has acquired a 196,000-square-foot industrial property in Northeast Philadelphia for $24.05 million, marking its second local investment in under a year. The warehouse, located at 2045 Wheatsheaf Lane, changed hands from Kairos Real Estate Partners and sits on an 8.3-acre site positioned between Port Richmond and Frankford, just minutes from… Read more »
Cleveland-Cliffs Inc.’s shuttered steel facilities in Conshohocken and Steelton are attracting attention from a range of potential buyers, including manufacturers and data center developers. The Cleveland-based steel producer confirmed it has received “inbound interest” for the two Pennsylvania plants, as well as for its Riverdale strip mill in Illinois. However, it remains unclear whether any… Read more »
Logistics Property Co., a Chicago-based developer, is actively pursuing new opportunities along the Northeast corridor while working on an ambitious plan to deliver 6.2 million square feet of industrial space in the Philadelphia region over a five-year period. “We’re continuing to explore additional sites because we believe this region will outperform many other markets globally,”… Read more »
