Posts Tagged: industrial

Northeast Philadelphia industrial building trades for $33.5M

A 454,456-square-foot industrial building in Northeast Philadelphia has sold for $33.54 million after attracting a dozen offers. A joint venture between two New York firms, Ajax Advisors and Brickman Associates. The building at 11200 Roosevelt Blvd. sits on 25 acres and was fully occupied at the time of the sale to such tenants as Philadelphia… Read more »

Partnership buys 3 industrial buildings off I-95 in Philadelphia for $9.6M

A partnership involving a New York firm and a local investor has picked up three adjacent industrial properties totaling 218,961 square feet in Philadelphia for $9.6 million. Bash Capital and West Chester-based investor Joseph A. Cunane bought 20 Jackson St., a 79,431 square-foot building; 38 Jackson St., a 76,620-square-foot building; and 21 Wolf St., a 62,910-square-foot building…. Read more »

EQT Exeter picks up 8 buildings in Delaware County for $48.45M

EQT Exeter has picked up an eight-building industrial portfolio in Naamans Creek Business Center in Boothwyn for $48.45 million.  The seller of the buildings, which total 265,757 square feet on 45 acres and were 100% leased at the time of sale. The properties are located off Route 322 and just a short distance from Interstate… Read more »

How fierce is demand for industrial properties? Prologis just paid $45M in bidding war for longtime parking lot

When InterPark Holdings put 4700 Island Ave. in Philadelphia up for sale, the company had decided the property’s future lay beyond serving as off-site parking for those flying in and out of Philadelphia International Airport. The 271,000-square-foot building on nearly 19 acres had originally been developed decades ago as a refrigeration facility before InterPark operated… Read more »

Philly Industrial Vacancy Rate Drops to All-Time Low

Flush with cash from stimulus checks and record savings accrued while social distancing, U.S. households continue to spend at record levels on consumer goods heading into the second half of 2021. This spending splurge is also driving voracious demand for logistics space, pushing Philadelphia’s industrial vacancy rate below 5% for the first time on record… Read more »

Gambone Group jettisons Montco industrial portfolio for more than $210M

Gambone Group has sold a portfolio of 43 of its industrial buildings in Montgomery County for a little more than $210 million, seizing on a market that is pricing warehouse and flex properties at unprecedented levels. MRP Industrial was the buyer in the off-market transaction, according to multiple sources. The properties total 1.4 million square… Read more »