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 »
Wharton Industrial continues to expand its Philadelphia-area holdings, buying a pair of fully leased warehouses in Pennsylvania and New Jersey totaling 325,000 square feet. The properties are at 9130 Griffith Morgan Lane in Pennsauken and 5 East Pointe Drive in the Berks County town of Birdsboro. Both deals involve sale-leasebacks. The 189,498-square-foot warehouse in Pennsauken… Read more »
An 11.4-acre industrial property in Southwest Philadelphia near the planned Bellwether District was recently purchased for $35 million by an entity affiliated with Hilco Redevelopment Partners, the company behind the ambitious project. The nearly 70,000-square-foot warehouse at 1600 S. Warfield St. sits just north of the edge of the former Philadelphia Energy Solutions refinery site,… Read more »
The facility will be funded through a $20.3 million grant awarded to PhilaPort under the U.S. Department of Transportation’s 2022 Infrastructure for Rebuilding America program. A portion of the funding will also be used toward safety and efficiency upgrades with the modernization of the Tioga Marine Terminal’s main gate. Construction of the new warehouse is… 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 »
DH Property Holdings has paid $24 million for 200 Pattison Ave., a fully-occupied, 96,000-square-foot warehouse in South Philadelphia. The New York real estate company bought the property from Ivy Holdings, which had acquired the cold storage facility in 2019 for $7.2 million. The recent sale reflects a 233% increase over 2019. Prior to that, the… Read more »
Bridge Investment Group of Salt Lake City paid $33.25 million for 11311 Roosevelt Blvd., a 229,459-square-foot warehouse in Philadelphia, according to city property records. It bought the building from Covington Property Partners, a Dallas company that acquired it in February 2021 for $12.5 million. Covington purchased the building through a bankruptcy sale of National Publishing… Read more »
A newly renovated industrial building in North Philadelphia leased by Amazon.com Inc. has been acquired for nearly $28 million, more than three times the amount it sold for in 2020. Irvine, California-based LBA Realty purchased 700 Ramona Ave. from SBG Real Estate LLC. The 17.5-acre property is fully leased by Amazon (NASDAQ: AMZN) and includes… Read more »
COFCO has sold its 64,000-square-foot warehouse that also served as its corporate headquarters and showroom at 2200 N. American St. in the Kensington neighborhood of Philadelphia for $8.75 million. The corporate office furnishings dealer bought the building in the fall of 1999 for $1.5 million. Brick Capital Real Estate Development, a Philadelphia developer of multifamily… Read more »
In December 2020, DH Property Holdings bought 67 acres at 5000 Richmond St. in the Bridesburg section of Philadelphia and is now ready to move forward with a $120 million speculative development of two large warehouse-distribution buildings. One building will total 348,000 square feet and the other 411,0000 square feet, joining upwards of 15 million… Read more »
