Posts Tagged: industrial

No New Large Industrial Leases Across Philly Region

The Philadelphia region’s industrial market has experienced a significant shift in leasing trends

The Philadelphia region’s industrial market has experienced a significant shift in leasing trends. Historically, about five industrial leases exceeding 500,000 square feet were signed each year since 2015. But halfway into 2023, no industrial leases of that size cohort have been recorded. Over the past six years, top retailers such as Amazon, Walmart and Burlington… Read more »

Philadelphia I95 Collapses: Could Hurt East Coast Supply Chain

I95 collapse will affect the supply chain

Only one section of Interstate 95 collapsed in Northeast Philadelphia on Sunday morning, but the effects of the tragic infrastructure failure may reverberate across a wide area. The collapse, which claimed one life and shut down I-95 around the Cottman Avenue exit indefinitely, has already disrupted the supply chain in the Northeast, U.S. Secretary of Transportation Pete Buttigieg said… Read more »

Velocity Venture Partners Purchase Quakertown Shopping Center

The 225,000-square-foot Richland Plaza is 90% vacant.

As tenants fled from the Richland Plaza shopping center in Quakertown, Velocity Venture Partners Founding Partner Zach Moore thought, “There’s got to be an opportunity here.” At 90% vacant, Velocity acquired the 225,000-square-foot retail center for $16.7 million on Wednesday and plans to convert it into a multi-tenant industrial site. The entire project, combining the acquisition cost… Read more »

Bridge Industrial Starts on Construction for Two-Building Project in Philadelphia

Two-Building Project Adding More Than 750,000 Square Feet in Central Infill Location

Chicago-based Bridge Industrial, a privately owned real estate operating company and investment manager that acquires and develops industrial real estate in supply-constrained core industrial markets, has started construction on a two-building speculative development in Philadelphia named Bridgepoint Philadelphia.  Bridge, which acquired the infill industrial site off Orthodox St. near the Betsy Ross Bridge with access… Read more »

Light Industrial Building Available for Sale in Philadelphia

6741 Essington Ave Philadelphia PA

Wolf Commercial Real Estate, the leading commercial real estate and advisory firm in South Jersey has been appointed the exclusive listing agent for 6741 Essington Ave in Philadelphia, Pennsylvania. The Philly property is available for sale, priced at $899,000. The property is +/- 4,182 square-feet and is zoned I-2. Features of 6741 Essington Ave in… Read more »

Small-Bay Industrial Market in Philly is Underserved

Philadelphia’s Small-Bay Industrial Market Underserved by Recent Construction

Amid headlines driven by the mega-leasing sprees of Amazon, Target, Walmart and other high-profile companies in recent years, industrial developers have increasingly catered to the massive bulk-warehouse segment so much in demand by these types of users. However, one industrial property segment that has flown under the radar is those measuring 50,000 square feet or… Read more »

Philadelphia Emerges as Top Industrial Market in Mid-Atlantic

Philadelphia Emerges as Top Mid-Atlantic Industrial Market in 2023

As of early 2023, Philadelphia is leading the Mid-Atlantic region in terms of industrial performance metrics, surpassing New York, Northern New Jersey, Washington D.C. and Boston. Philadelphia’s construction levels are now 400% above the three-year annual average before the pandemic. Driven by high market liquidity and e-commerce growth, industrial activity flourished throughout the country in… Read more »

New Jersey Industrial Sales Totaled $149M, Second in the Nation

NJ Ranked #2 in Nation for Industrial Sales

The sales volume for industrial real estate in New Jersey totaled $149 million in January, the second highest figure in the nation to the San Francisco Bay Area.  The data from property management software Yardi shows the Bay Area, New Jersey and Indianapolis had the highest volume of industrial real estate change hands by a wide margin…. Read more »

Greek Development Plans to Redevelop 287,000 SF Philly Warehouse

Greek Development Plans to Redevelop Philly Warehouse

Greek Development has expanded its footprint to Philadelphia, with plans to build nearly 300,000 square feet of new industrial space, after one of several recent acquisitions and as part of a development pipeline that currently calls for more than 2.5 million square feet. The East Brunswick-based firm is pursuing approvals for the planned 287,000-square-foot facility… Read more »

Manufacturer in Bucks County Secures Future in Industrial Complex

industrial complex in bristol pa

TESCO owner Tom Lawton worried about the possibilities. If the building that housed his company was sold, the buyer could force it to move.  So Lawton took control. TESCO bought Grundy Commons, its home since 1987, in November. The company paid just under $13.4 million for the four-building property in Bristol, according to public records…. Read more »