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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Giant Opens New E-Commerce Fulfillment Center in Philadelphia

The Giant Co. has opened a new Giant Direct e-commerce fulfillment center at 3501 Island Ave. in Philadelphia. The facility is set to serve more customers in Philadelphia and, for the first time in its 98-year history, in southern New Jersey.

The 124,000-square-foot facility features state-of-the-art technology, such as robotics, machine learning and vertical integration, according to Giant, which notes it is the first Ahold Delhaize USA company to implement this new fulfillment technology. Within the facility, two space-saving, 3D grids contain totes filled with fresh and non-perishable groceries. When a customer places a Giant Direct order, employees work alongside a team of robots that quickly gather items for bagging. After bagging, the employees place orders into temperature-controlled totes and onto trucks for delivery to customers.

*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.

The Top 10 Markets for Investing in Industrial Properties

While many office towers and shopping centers are facing record-high vacancies resulting from the pandemic, a nationwide shortage of industrial space is taking hold across the country, according to data from CoStar, the parent company and publisher of LoopNet.

Industrial properties have emerged as a premier asset class with the surge in online shopping; e-commerce companies like Amazon are opening new distribution centers at an unprecedented pace. Chasing this swell in leasing and construction activity, international investment companies like Blackstone have made headlines by pouring more capital into the industrial space than ever before.

Based on our analysis, LoopNet identified these 10 markets as offering the most promising opportunities for smaller investors seeking industrial properties:

  1. Inland Empire, California
  2. Salt Lake City
  3. Phoenix
  4. Sacramento, California
  5. Philadelphia
  6. Atlanta
  7. Los Angeles
  8. Memphis, Tennessee
  9. Las Vegas
  10. San Antonio

*Article courtesy of Loopnet

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.

Giant Co. opens automated fulfillment center outfitted with 69 robots in Philadelphia

Giant Co. has opened a 124,000-square-foot automated fulfillment center in the Eastwick section of Philadelphia and will use it as a test pilot for future facilities. 

Giant’s parent company, Ahold Delhaize, is exploring adding similar e-commerce distribution centers across its brands and will monitor the Philadelphia operation for areas that might need adjustment. Regardless of what changes may come to the next fulfillment center, automation and the use of robots will be part of it. 

The building at 3501 Island Ave. nearly fully automates orders for Giant Direct, its online grocery service. There’s a strong push for automation by Ahold and other companies such as Amazon for a range of reasons. However, some cited by Giant included improving the time it takes to fill orders, ensuring quality control and accuracy of an order, and saving money, said Chris Lewis, president of supply chain for Delhaize USA. 

*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.

Arden Group forms $800M joint venture to focus on infill industrial investments

In 2018, early in its quest to accumulate a sizable amount of industrial real estate, Arden Group paid $45 million for 12 buildings totaling 607,890 square feet in Bucks County.

Since then, Arden has amassed a portfolio of 32 properties totaling 7 million square feet across nine markets and has now parlayed that into an initial $800 million joint venture with Arcapita Group Holdings, an international investment firm. 

“We were lucky to get into this space three years ago and scale up to $800 million,” said Craig Spencer, CEO at Arden Group. “We’re long-term believers in this space and committed to it long-term.”

The goal is to grow the new joint venture’s industrial holdings, targeting infill warehouses, to $2 billion in 25 markets across the United States. It made progress on that front with an initial purchase of 18 industrial parks totaling 5 million square feet of space and valued at $550 million, and the venture is working on another $250 million in 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.

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.