Performance Team, a logistics firm owned by Maersk, has leased the entire 1.2 million-square-foot Box Park Logistics Center in Cinnaminson, making it the Philadelphia region’s largest industrial lease of the year, according to industry sources. The deal significantly reduces available industrial space and comes two years after developer Logistics Property Co. completed the building. Located… Read more »
Philadelphia’s industrial market showed resilience in early 2025, sustaining strong tenant demand despite a national leasing slowdown. Vacancy rates rose with new inventory, but net absorption increased year-over-year. Burlington, New Castle, and Bucks counties continued driving leasing momentum, while industrial properties remained the region’s top investment choice for the fourth consecutive year. Leasing activity has… Read more »
Philadelphia’s industrial real estate market has emerged as a national leader, ranking third among the 15 largest U.S. industrial markets for sustained rent growth. Over the past five years, industrial rents in the region have risen 57.6%, outpacing the national average of 41.7% and trailing only Phoenix and Atlanta. This growth stems from high demand… Read more »
Veho, a delivery firm serving e-commerce companies, has leased 148,611 square feet at 4501 Richmond St. in Philadelphia. The one-story distribution center, part of Bridge Point Industrial Park, was completed in April and is owned by Bridge Industrial, which acquired the site in 2022 for $24 million after environmental remediation. Previously, the property was used… Read more »
Philadelphia-based Alterra Property Group has expanded its industrial outdoor storage (IOS) portfolio in Charlotte, North Carolina, with the recent acquisition of a 5.4-acre site at 309 Morningside Road for $3.25 million, according to Mecklenburg County records. The property, purchased from Miaco Properties LLC, includes a 10,000-square-foot industrial building and is leased by The Loving Group,… Read more »
KKR has acquired three fully-leased Philadelphia-area warehouses as part of a $377 million deal involving six properties across the U.S. The local properties, according to CoStar Group data, sold for a combined $198 million. They include: Amazon’s 650,000-square-foot fulfillment center at 240 Mantua Grove Road, West Deptford, NJ, sold for $90.8 million. Built in 2018,… Read more »
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… Read more »
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 »
NFI Industries Inc. will occupy the Quakertown Logistics Center, a newly constructed 264,600-square-foot building just off the Quakertown Interchange of I-476. The process that led NFI to take the space was circuitous but reflects the sometimes fast-changing needs of companies that manage the distribution of products for clients. In July 2020, the Camden-based trucking and… Read more »
NorthBridge Partners has spent nearly $44 million to add two more industrial properties to its growing footprint in the Philadelphia area. Entities affiliated with the Boston real estate company paid $22 million for 2828 Charter Road, a 248,000-square-foot building on 19 acres in Northeast Philadelphia, and $21.8 million for 1050 Wheeler Way, a 110,000-square-foot building… Read more »
