The parent company to TJ Maxx, HomeGoods and Marshalls has signed a long-term lease on a proposed 300,000-square-foot building in Northeast Philadelphia that will be developed for the company.
Once built, TJX Cos. will use the building at 9801 Blue Grass Road to expand it local warehouse-distribution operations, according to market sources. The company has maintained a 1.015-million-square-foot distribution center at 2760 Red Lion Road since 2001.
The Blue Grass Road property is part of a bygone era in Philadelphia. Hostess Brands Inc. once made Twinkies at the property and ceased operations there in 2012. A vacant 446,000-square-foot food processing facility on the site was bought in 2013 and paid $62.5 million for the real estate and other Hostess property, such as machines and equipment, at a bankruptcy auction.
The bakery had filed for Chapter 11 bankruptcy protection in January 2012 but ended up selling off its brands and ceasing operations.
The acquisition totaled 3 million square feet, and the largest of the properties in that portfolio was the building at 9801 Blue Grass.
The property was originally constructed in the mid-1960s for Acme Supermarkets. The building on the site will eventually be razed to make way for the new distribution center.
*Article courtesy of Philadelphia Business Journal
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