The founders of Philly Pretzel Factory have purchased a 31,000-square-foot warehouse on 2.5 acres next to the company’s Bucks County headquarters in Bensalem. CEO Dan DiZio and co-founder Len Lehman, along with other investors under Pretzel 98 LLC, acquired the property at 1824 Byberry Road for $4.3 million earlier this month. Philly Pretzel Factory’s 25,000-square-foot… Read more »
A Massachusetts-based firm plans to fully demolish a vacant office building across from Philadelphia International Airport to make way for a nearly half-million-square-foot industrial warehouse. PNC Bank vacated the entire 441,000-square-foot building at 8800 Tinicum Blvd. in early 2024, consolidating operations at its regional headquarters at 1600 Market St. in Center City. Following the departure,… Read more »
Quaker Valley Foods sold its 241,000 SF cold storage warehouse at 2701 Red Lion Road, Northeast Philadelphia, for $41M in a sale-leaseback deal, ensuring continued operations. Phoenix-based Fundamental Income acquired the 40-year-old property, which Quaker Valley purchased in 2004 for $9.8M. The sale price equates to approximately $170 per SF. *Article courtesy of Philadelphia Business… Read more »
Endurance Real Estate Group LLC and Greystar-Thackeray plan to develop a 176,000-square-foot warehouse at 205 Schoolhouse Road in Souderton, Montgomery County. The 14.2-acre site, near I-476 and Route 309, was previously owned by Franconia Technology Associates. Endurance did not disclose the purchase price or development cost. The new facility will neighbor a 176,700-square-foot warehouse at… Read more »
Martin Brower, a global supply chain company and McDonald’s largest supply chain partner has leased a 147,000-square-foot warehouse under construction in Northeast Philadelphia. Developed by Crow Holdings at 14515 McNulty Road, the facility will include 57,000 square feet of cold storage and is set for completion in fall 2025. Martin Brower is part of Reyes… Read more »
SEPTA has purchased a warehouse adjacent to Northeast Philadelphia Airport for $11.25 million, as per Philadelphia property records. This acquisition is part of a trend of industrial sales near the airport. The warehouse at 10551 Decatur Road covers over 136,000 square feet, most of which SEPTA had previously leased since 2019 for use as a… Read more »
Two years after its completion, a Northeast Philadelphia distribution warehouse has been sold for $83.5 million to a global investment firm, according to property records. The 282,737-square-foot building at 9801 Blue Grass Road is fully leased to TJX Companies, the parent company of TJ Maxx, HomeGoods, and Marshalls. DH Property Holdings sold the property to… Read more »
Velocity Venture Partners has sold a 468,000-square-foot industrial building in Yeadon, Delaware County, for $59 million, marking a 41% increase from its purchase price two years ago. New York-based Lightstone Group, making its first acquisition in the Philadelphia area, bought the warehouse at 6250 Baltimore Ave., according to Newmark’s Ryan Guittare, the listing agent. The… Read more »
The structures at 8800 Tinicum Blvd. will be replaced by a one-story distribution center, according to a zoning permit. The new facility will include two loading spaces, 618 parking spaces, and 48 bicycle spaces. PNC, the site’s former tenant, relocated its offices to 1600 Market St. in April, a company spokesman confirmed to Bisnow on… Read more »
J.G. Petrucci Co. has begun construction on a 320,250-square-foot warehouse in Bucks County, highlighting its focus on East Coast industrial properties. Partnering with Boston-based Cabot Properties, the New Jersey firm is developing the site at 4626 Somerton Road in Bensalem, near I-276 and Route 1. Additionally, J.G. Petrucci Co. acquired an $8.6 million industrial building… Read more »
