Philly Industrial Space

Philly Industrial SpaceWolf Commercial Real Estate specializes in representing a wide range of Philly industrial space for buyers, sellers, tenants and investors.

The team at our Philadelphia commercial real estate brokerage firm is uniquely qualified in all types of industrial space in Philly, from traditional space for warehousing and manufacturing, to industrial flex space for multiple uses under one roof, such as offices, showrooms, warehousing and more. As a leading Philadelphia commercial real estate broker, we offer clients the highest standard of service and unmatched expertise as we partner with them to help them realize their Philly industrial space goals.

Buying Philly Industrial Space

For buyers and tenants looking for new industrial space in Philadelphia, the knowledgeable team at our Philadelphia commercial real estate brokerage firm is experienced in identifying the available industrial space in Philly that is the best match for your specifics needs. We assure that the sale or lease terms of your new Philadelphia industrial space complements your real estate goals, and we’re with you from the beginning of the process to the very end in order to facilitate a smooth transition into your new Philly industrial space. At Wolf Commercial Real Estate, we have the people, the power and the connections to get you the right industrial space in Philadelphia at the right price.

Selling Philly Industrial Space

For owners looking to sell or lease their industrial space in Philly, there is nothing better than the defined marketing process that our Philadelphia commercial real estate specialists developed and then tailor for each property and sub-market. This comprehensive and proven marketing strategy works exceedingly well to match buyers and tenants with available Philadelphia industrial space.

Whether you are looking for new industrial space in Philadelphia, or seeking buyers or tenants for your available Philly industrial space, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need to make your commercial real estate goals a reality.

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Cap Rates Under 3.5% Emerge in Philadelphia’s Industrial Market for the First Time

Philadelphia’s industrial market continues to break records, with leasing running well ahead of new construction and rent growth of 12% over the past 12 months, ranking it among the fastest of any major market in the United States.

But the industrial market’s most notable milestones of the third quarter centered around sales pricing. With the office sector no longer seen by many as the safe harbor for institutional capital that it was prior to the pandemic, large commercial real estate firms are searching for other types of long-leased, lower-risk properties in which to invest.

The recent wave of industrial development along the Interstate 95 corridor is delivering a new generation of giant logistics facilities capable of absorbing at least some of this investor demand. In the process, capitalization rates under 3.5%, while already common in other U.S. industrial markets such as Los Angeles and Northern New Jersey, are emerging in the Philadelphia area for the first time.

*Article courtesy of Costar

For more information about Philly industrial space for sale or lease in Philadelphia and Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

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 Delivery Systems, IK Marketplace, Philadelphia Academy Charter School and Dependable Distribution Services. 

Though some of its characteristics can be unattractive to investors — it was built in 1960, is adjacent to a shopping center, and a charter school is a tenant as is a cocoa bean distributor — it still garnered 12 offers. 

Despite some of its drawbacks, the building had other compelling features that attracted bidders. $3.7 million was invested in various upgrades including a new roof, electric service and fire alarm system. The property is also located in one of the hottest industrial markets in the Philadelphia area, sits along the Interstate 95 Corridor, and is ideal for last-mile distribution.

*Article courtesy of Philadelphia Business Journal

For more information about Philly industrial space for sale or lease in Philadelphia and Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Faropoint drops $75M to add 19 more buildings to growing Philadelphia-area industrial portfolio

Faropoint, an Israeli real estate company that first entered the Philadelphia market a year ago, has dropped another $75 million to add 19 industrial buildings totaling 904,000 square feet to its growing portfolio of last-mile distribution centers throughout the region. 

The company last year spent more than $50 million to buy 11 industrial properties between Southeastern Pennsylvania and South Jersey as part of a strategy to amass these industrial buildings here and in other markets across the country. Since entering the Philadelphia market in September 2020, Faropoint has spent nearly $130 million buying 1.53 million square feet. 

The most recent spending spree started in May and has continued since. 

“The biggest run has been in the last three months and we have five closings in September,” said Ian Murphy, who oversees asset management at Faropoint. “We would like to triple the amount of buildings we have if not have five times the amount, but it’s getting more difficult. Industrial is so hot.”

As with so many other investors these days, Faropoint is chasing buildings close to densely populated areas that can serve as last-mile distribution centers. The company most often buys Class B infill buildings that were built between the early 1970s and the early 2000s and are fully occupied. Deal size ranges from $5 million to $20 million.

The company is able to stay competitive by trying to execute off-market deals and completing transactions in just over a month, Murphy said. It typically takes 30 days to complete due diligence and another 15 days to close. The company also is willing to spend up. 

*Article courtesy of Philadelphia Business Journal

For more information about Philly industrial space for sale or lease in Philadelphia and Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Philabundance leases 130,000-square-foot Roxborough building after Boston brewery backs out

Philabundance, a nonprofit working against food insecurity across the region, has leased a 130,000-square-foot building in the Roxborough neighborhood of Philadelphia that will double its food distribution network.

The nonprofit signed a deal at 401-415 Domino Lane, a building that had been used by Penn Beer Distributors and where Night Shift Brewing, a Boston-based craft beer company, had plans to move into Philadelphia before the pandemic derailed its expansion.

In contrast, Covid-19 caused Philabundance’s work providing food to those in need to swell to new heights as food insecurity and hunger grew. In 2020, the nonprofit distributed 55 million pounds of food compared with 26 million pounds in 2019.

“We filled an important need but not the entire gap,” said Loree D. Jones, CEO of Philabundance. “We do anticipate some level of this need to continue. The reality is the amount of folks who are food insecure has grown and you would need to quadruple what we provided last year to fill the entire need. The need is so much greater.”

The organization was introduced to the Domino Lane building when the city was using a portion of it for food bank operations last year. Once the city no longer needed the space, Philabundance decided to lease the entire building. 

*Article courtesy of Philadelphia Business Journal

For more information about Philly industrial space for sale or lease in Philadelphia and Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Target leases 331,428-square-foot Upper Merion warehouse built on spec

Target Corp. has leased a 331,428-square-foot warehouse-distribution center in Upper Merion that was built on speculation, according to township officials. 

Novaya Foxfield Industrial, an affiliate of Boston-based Novaya Real Estate Ventures, is building the structure at 900 River Road. The project is expected to be completed by the end of the year.

Target (NYSE: TGT) has bulked up on its distribution presence in the Philadelphia area. It leased a 1.1-million-square-foot building at Logan North Industrial Park, which is just over the Commodore Barry Bridge between Route 130 and I-295 in Logan, New Jersey. The retailer will use that facility for a concept for Target in that it serves traditional distribution in which products are delivered to a store as well as e-commerce distribution shipped directly to customers.

The Upper Merion distribution center is being developed on the former Johnson Matthey Inc. chemical plant property. Novaya Foxfield Industrial paid $8.8 million for the property and razed a series of buildings to make way for what it called the King of Prussia Logistics Hub.

River Road is near major highways including the Blue Route, Schuylkill Expressway, Pennsylvania Turnpike, the Northeast Extension and other regional arteries such as Route 202. It’s also close to many of the region’s population centers. The property sits less than a half-mile away from a 315,897-square-foot FedEx distribution center at 600 River Road.

*Article courtesy of Philadelphia Business Journal

For more information about Philly industrial space for sale or lease in Philadelphia and Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

New York firm pays $3.5M for Philadelphia truck terminal as it scours market for more opportunities

A New York real estate firm bought a truck terminal in Philadelphia for $3.5 million, marking the company’s first acquisition in the city as it plans to quickly expand its industrial holdings here.

Imperium Capital’s IG Logistics bought 3200 S. 70th St., a four-acre property that had been owned and used by XTL Inc., a transportation company that continues to lease the site.  

Nearly five years ago, Imperium, which has accumulated a portfolio of retail, office and apartment properties, branched out into buying industrial real estate and established its IG Logistics division to pursue deals. Outdoor storage and transportation-related properties located in urban markets with a high barrier to entry, where e-commerce is driving demand for industrial and last-mile real estate, is of particular focus.

The firm wants to buy more than $250 million of that property type in markets across the country including Philadelphia, Denver, Dallas, Savannah, South Florida, Central Florida, Nashville, Phoenix and the Baltimore-Washington area. 

“Our bet is on e-commerce and infill land that are irreplaceable and crucial to supply chain,” said Sam Schneider, managing partner at Imperium, which he formed a decade ago with Daniel Glaser. 

*Article courtesy of Philadelphia Business Journal

For more information about Philly industrial space for sale or lease in Philadelphia and Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

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. The properties, all built around 1900 and located right off I-95, were a combined 44% occupied at the time of sale. The seller was a local partnership going under the name JP Vision LP, according to Philadelphia property records. 

This three-property acquisition is a strategic one for the partnership, which is targeting properties in a part of South Philadelphia that has Amazon and UPS distribution centers as well as big box retailers such as Lowe’s, Ikea and TJ Maxx. In late 2020, an entity affiliated with Bash and Cunane bought 22 Wolf St., a 55,000-square-foot building, for a little more than $4.8 million. 

The partnership also made a run at buying a 120,000-square-foot building on nearly 7 acres that is owned by the chemical company Inolex Group Inc. but didn’t get. It is located across from the partnership’s three recent acquisitions. 

*Article courtesy of Philadelphia Business Journal

For more information about Philly industrial space for sale or lease in Philadelphia and Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

New $42M warehouse at PhilaPort topped off

PhilaPort has topped off a $42 million, 201,621-square-foot distribution center that is under construction at the Packer Avenue Marine Terminal. 

The milestone means the last piece of steel has been installed in the construction of the building under development at 455 Pattison Ave. in South Philadelphia. Haines & Kibblehouse, a Skippack construction company that has an office at the Philadelphia Navy Yard, is the general contractor. 

The warehouse will be occupied by Holt Logistics Corp. as part of the company’s lease at the Packer Avenue Marine Terminal. The facility will have 32 loading docks and provide storage for dry cargo arriving at that terminal. PhilaPort also intends to leverage the facility to attract other business to the port. It is expected to be completed May 2022 and potentially create between 200 to 300 jobs.

A second phase totaling 217,000 square feet could eventually be built that would incorporate refrigerated warehousing.

In late 2016, the state announced it would invest more than $300 million in infrastructure, warehousing, and equipment at the port. The work aimed to double container capacity and position it for future growth at its Packer Avenue Marine Terminal, its automobile-handling operations, and the Tioga Marine Terminal.

*Article courtesy of Philadelphia Business Journal

For more information about Philly industrial space for sale or lease in Philadelphia and Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

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 95 and Philadelphia International Airport.

The buildings were assembled in three separate transactions that totaled around $28 million. The transaction with EQT Exeter highlights how the value of these flex and industrial buildings have grown over time. 

*Article courtesy of Philadelphia Business Journal

For more information about Philly industrial space for sale or lease in Philadelphia and Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

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 it as a parking lot for more than 20 years.

“That business ran its course and that property ran its course,” said Andrew McLaughlin, senior vice president at InterPark. “The highest and best use was no longer parking.”

With that in mind, InterPark put 4700 Island on the market in April. The timing couldn’t have been better.

There were nearly 200 non-disclosure agreements signed in pursuit of the property and multiple rounds of bidding. In what McLaughlin described as an “unusually competitive process,” Prologis Inc., an industrial real estate behemoth, paid $45 million for the property.

*Article courtesy of Philadelphia Business Journal

For more information about Philly industrial space for sale or lease in Philadelphia and Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.