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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Developer Plans Redevelopment of Eastern Seaboard’s Largest Refinery Site into Massive Industrial Park

The 1,300-Acre Refinery Site Could Become Up to 15 Million Square Feet of Commercial Buildings

Hilco Redevelopment Partners said it plans to demolish and redevelop the East Coast’s oldest and largest oil refinery into what could be one of the largest additions of industrial real estate ever in Philadelphia, in a long-term project that could add space amounting to almost 3% of the city’s existing inventory.

The company, the real estate development unit of financial services company Hilco Global, announced a multibillion-dollar plan to decommission, demolish and redevelop the 1,300-acre site that operated for roughly 150 years as an oil refinery until Philadelphia Energy Solutions closed it last year.

The developer said it plans to build a distribution and logistics hub that would bring between 13 million and 15 million square feet of logistics space to the city in phases over several years. In all, the project could add as much as 2.9% more industrial space to the market, which totals about 557 million square feet of industrial real estate now, according to CoStar.

For context, developers completed about 15 million square feet of industrial projects across Philadelphia during all of 2016, 2017, and 2018.

The logistics park is expected to target major national and international companies looking to expand their distribution networks on the East Coast and would employ thousands of workers on-site when complete.

Hilco is undergoing an environmental clean-up of the site, which closed last year after a massive explosion at the facility led Philadelphia Energy Solutions, the operator of the refinery, to declare bankruptcy.

The explosion damaged a significant portion of the campus and led Philadelphia Energy Solutions to lay off more than 1,000 workers before it shut down.

Hilco bought the refinery in June for $225.5 million at bankruptcy court, according to a previous statement from the company. According to a city report last year, the site has the “most permissible industrial zoning category” and would allow for a wide range of industrial uses.

To accommodate a proposed development schedule, HRP said its plan is expected to be conducted in phases that allow portions of the site to be decommissioned and remediated as others are being redeveloped concurrently.

“Our plan is to transform the site into a commercial hub to be shared by dozens of world-class companies that will benefit from Philadelphia’s diverse workforce and strategic location with an environmentally responsible infrastructure that will be great for all Philadelphians,” Hilco’s CEO, Roberto Perez, said in the earlier statement.

The site, known in Philadelphia as the PES refinery, is a storied one that largely defined Philadelphia’s port region for the nearly 150 years it was in operation. The site was first developed into a refinery by Atlantic Refining Co. in 1870, and would host the refineries of some of the nation’s oldest oil and gas companies, including Gulf Oil Corp. and Sunoco.

In terms of its total acreage, the refinery site is the largest such refinery on the Eastern Seaboard. At its peak, it processed roughly 355,000 barrels of crude oil per day.

Philadelphia has strong fundamentals as a logistics destination, though, and this development could provide a strong surge of momentum in making the city an East Coast distribution hub.

The city’s industrial sector is the only commercial real estate sector that has not experienced a leasing slowdown throughout the coronavirus pandemic, according to CoStar research. Philadelphia’s industrial vacancy rate is just 5.3%, which is a 25-year low for the city.

And perhaps most importantly, Philadelphia sits squarely between New York City and Washington, D.C., “right in the middle of the largest region of purchasing power in the western hemisphere,” Adrian Ponsen, director of market analytics for CoStar Group in Philadelphia, writes in a recent report.

In recent months, top e-commerce retailers including Target, Amazon, Houston-based Utopia Fulfillment and the produce delivery service Misfits Markets have expanded their distribution footprints in Philadelphia, according to CoStar research.

*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.

Reading Is the Industrial Market to Watch in Central Pennsylvania Amid Pandemic

The industrial market in Pennsylvania, finds itself in a precarious position entering the fourth quarter of 2020, and things could improve or deteriorate rapidly.

The market’s vacancies are close to 13.5%, largely due to a surge of construction over the past five years. Developers have brought more than 7 million square feet online during that time, but demand hasn’t kept pace until very recently.

Incredibly, 2020 has been one of the strongest years of industrial demand in Philadelphia’s history. Since January, more than 2.1 million square feet has been absorbed, which is more demand than the market saw in the previous five years combined. A substantial chunk of this space was filled by Amazon, which filled more than 1 million square feet at the 78 Trade Center in the first quarter.

Amazon is a logistics demand generator by itself, but the real draw in Pennsylvania is Interstate 78, which is Pennsylvania’s main trade artery. Recent development has been centered around access to it, and Reading lies midway between Harrisburg and Lehigh Valley, two of the commonwealth’s most prominent distribution nodes.

But those markets offer something Reading does not: direct access to a north/south interstate. This appears to have had some limiting factor on local industrial demand. Pre-2020, Reading’s absorption levels were routinely dwarfed by its prominent neighbors, and many of the largest projects to deliver in the past five years still sit vacant.

This problem might prove negligible in the near future as we undergo a massive shift in consumer spending habits. The coronavirus has accelerated the growth of e-commerce tremendously, with census data showing that online shopping has nearly doubled in the past four quarters. CoStar’s latest national data shows that industrial leasing activity has returned with a roar, with national absorption closing at some of the highest levels in years.

If consumers continue shopping online boosting demand for logistics hubs across the country, Philadelphia’s pain could be very short-lived. The strong absorption seen this year could indicate that this is in the future.

But there’s several million square feet of speculative space underway in Lehigh Valley, which offers a superior location. There are also millions of square feet of space underway in the Philadelphia and northern New Jersey markets, which could siphon demand away from Berks County as well.

This market sits on a knife’s edge and for those in Central Pennsylvania interested in industrial properties, its progress or lack thereof, will be worth monitoring in the coming months.

*Article courtesy of CoStar

For more information about Philly or Reading Industrial space for sale or lease in Philadelphia and Reading or about any other Reading 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 and Reading commercial real estate broker that provides a full range of Philadelphia and Reading commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia and Reading commercial properties for buyers, tenants, investors and sellers.

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

Exeter Property Group buys Bucks County industrial portfolio

A partnership between affiliates of Endurance Real Estate Group and Thackeray Partners sold an industrial portfolio in Bucks County for $18 million to Exeter Property Group.

The Endurance venture bought the four-building, 240,358-square-foot complex at the Penn Warner Industrial Park in Fairless Hills in early 2018 for $10.8 million, or $45 a square foot, from Crow Holdings. Endurance had also owned the buildings – located at 199, 270, 279 and 290 Canal Road – between 2003 and 2007.

The portfolio is in proximity to several highways including I-95, I-195 and the New Jersey Turnpike and was fully occupied at the time of the most recent sale.

Exeter is a global real estate company based in Conshohocken and owns industrial and office properties.
The Endurance-Thackeray partnership has recently been selling off some of its other holdings. Earlier this year it parted ways with a nearly 300,000-square-foot warehouse in South Jersey for $32.2 million, more than three times what the venture paid for the property in 2017.

Black Creek Group, a Denver real estate firm that has been growing its Philadelphia-area footprint, was the buyer of that 292,466-square-foot building at 2000 Bishops Gate Blvd. in Mount Laurel.

Late last year, Endurance-Thackeray sold a five-building industrial portfolio in King of Prussia totaling 292,110 square feet at 201 and 221 King Manor Dr. and 741, 780 and 820 Third Ave. for $32 million. The buyer was again Black Creek, according to property records. When Endurance bought that portfolio, it was 72% occupied. It made a series of upgrades, and the portfolio was 95% leased at the time of sale.

*Article courtesy of Philadelphia Business Journal

For more information about Philly Industrial space for sale or lease in Philadelphia or about any other 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.

Amazon’s Philadelphia-area leasing spree continues

Amazon's Philadelphia-area leasing spree continues

Amazon.com Inc. has leased a 283,000-square-foot building in Philadelphia as part of its web of last-mile distribution centers around the region.

The company has signed a deal to occupy 2400 Weccacoe Ave. in South Philadelphia, according to sources. The building had once been occupied Hyundai Rotem, a South Korean company that made train cars for SEPTA.

The lease adds to Seattle-based Amazon’s sites it has been leasing over the last year across the region as it builds a last-mile distribution network. It also highlights how old industrial site, obsolete office buildings and manufacturing structures are finding new life in the age of ecommerce.

In the case of 2400 Weccacoe, the building had been used to build rail cars for SEPTA and other transit agencies. Prior to that, Unique Industries, a manufacturer of party supplies, used the structure for its operations.

In another example, Atlanta-based Ardent Cos. bought an old trolley car shed at 2501-2561 N. 15th St. in Philadelphia and Novaya Foxfield Industrial purchased a shuttered chemical plant on 29 acres at 900 River Road in Upper Merion to develop into a last-mile distribution centers.

An affiliate of Wharton Equity Partners along with Walton Street Capital Partners acquired 2400 Weccacoe for $16.75 million last September, according to property records. It sits on 13.5 acres and was vacant at the time the Wharton partnership bought it. Two acres adjacent to the site were later bought to provide more space for parking.

Wharton launched a $10 million redevelopment of the building that included tearing out the rail beds, installing a new roof, leveling interior floors, and upgrading loading docks among other upgrades. The renovations were part of the real estate company’s plans to seize on market forces catering to the growth of online retail. The property has access to Interstates 95 and 76, Philadelphia International Airport, PhilaPort and the Packer Avenue Marine Terminal. It is also adjacent to Center City.

A representative from Wharton declined comment. Amazon did not return a request for comment.

Wharton rebranded 2400 Weccacoe as SoPhi Logistics Center and sought to attract tenants who want a location for last-mile deliveries. UPS has for years operated a distribution center adjacent to the property.

Amazon (NASDAQ: AMAZN) over the last few years has added locations in King of Prussia, Lansdale, Langhorne and near the Philadelphia International Airport. In addition, Amazon leased earlier this year 1250 Forest Parkway in West Deptford, N.J. That 496,000-square-foot building had been a former distribution center for Nine West. The company is also in negotiations to lease 235,240 square feet in Bensalem.

Amazon expects to open a new 820,000-square-foot distribution center in Wilmington, Delaware, in time for the holiday shopping season. The company expects to hire 1,000 new workers to staff the built-to-suit development planned for a former General Motors plant on Boxwood Road.

The company has been leasing locations closer to dense population centers as it continues to expand its popular two-day Prime shipping, but also same-day delivery.

Amazon distribution centers often employ several hundred, if not several thousand people.

For more information about Philly Industrial space for sale or lease in Philadelphia or about any other 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.

Cracks Emerge in Philadelphia’s Industrial Market

Philadelphia industrial brokers and investors are noticeably less rattled by the coronavirus’ economic shock than their counterparts who specialize in the office or retail sectors. And that is with good reason. 

The local industrial market is entering the current crisis with tighter vacancies than those achieved even during the best years of economic boom of the mid-2000s and the late 1990s. Meanwhile, new tenant demand for logistics space in particular has surged past demand growth in the office and retail markets over the past four years. 

This all comes as retailers and e-commerce platforms, including Amazon, increasingly compete for faster home delivery options. To facilitate faster deliveries, these firms have been storing more goods in local distribution centers that are closer to population centers. Now that fears of contracting the coronavirus are driving more consumers to order goods for home delivery rather than venturing out to go shopping, these secular shifts benefiting distribution centers are likely to accelerate.

In the short term however, Philly’s industrial market is also staring down one of the region’s worst economic downturns in decades.

In April alone, the Bureau of Labor Statistics’ warehousing and storage sector shed almost 15,000 jobs (or 9% of its total staff) across Pennsylvania and New Jersey. Meanwhile, CoStar data shows that at the national level, industrial landlords and brokers have been consistently pulling down advertised rents on their space listings since late February. 

Some of the most at-risk properties are those housing distribution operations of high-risk retailers, such as Sears, Kmart and Office Depot, which have struggled to adapt to the consumer shift to online shopping. Office Depot, for example, has already announced plans to close its 185,000-square-foot facility in Lower Bucks County. 

But with the overall market expected to remain tight even after vacancies rise in 2020, many at-risk properties will likely present viable targets for value-add investors. 

CoStar’s latest market overview video covers these trends, highlighting near-term risks across the market, many of which will likely present long-term opportunities. 

*Article courtesy of CoStar News

For more information about Philly Industrial space for sale or lease in Philadelphia or about any other 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.

Local Company Buys Philadelphia Industrial Complex to Expand Business

A local private company has purchased a 330,000-square-foot industrial complex at 700 Ramona Ave. in Philadelphia for $8.5 million, or about $26 per square foot.

The buyer purchased the property to utilize the site as an expansion of their existing business.

The property consists of two large industrial buildings on approximately 14.5 acres and provides access to Route 1 Roosevelt Expressway and I-95.

*Article courtesy of CoStar News

For more information about Philly Industrial space for sale or lease in Philadelphia or about any other 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.

Exclusive: DHL signs big lease as Northeast Philadelphia industrial market stays hot

NorthPoint Development has signed a lease for a division of DHL International to occupy a 465,000-square-foot industrial building it is constructing at 11601 Roosevelt Blvd., a project that is helping to reshape Northeast Philadelphia into as a regional distribution market. 

KLS Logistics, of which DHL is a part, signed a long-term deal on the building and “chose this location in order to provide the best service for our customers to the five-county area in southeastern Pennsylvania,” said Daniel McGrath, a spokesman at DHL. 

McGrath declined to provide additional details such as how many jobs the company might create at the facility. 

Construction of the building has been halted as a result of a mandate by Gov. Tom Wolf to cease construction of all non-essential projects during the pandemic. It couldn’t be determined when the project will be completed. 

The Roosevelt Boulevard project is among several other industrial developments totaling three million square feet that are in various stages in Northeast Philadelphia. Once completed, they will increase the size of the submarket to 20 million square feet from 17 million square feet.

Other projects in the works include: 

  • A 1-million-square foot facility that is planned and expected to be built on 138 acres at One Red Lion Road. UPS will occupy the site, which had once been part of the Budd Co. property. Once completed, it will be the largest industrial building in Northeast Philadelphia;
  • Brandywine Realty Trust has plans for 680,000 square feet in two buildings at 15000 Roosevelt Blvd.;
  • At 11501 Roosevelt Blvd., NorthPoint is renovating a 230,000-square-foot building and has leased a portion of it to a self storage company;
  • At 2900 Grant Ave., Crow Holdings of Dallas is knocking down a 140,000-square-foot building to make way for a proposed 400,000-square-foot building to be constructed on speculation;
  • A new 200,000-square-foot building at 3025 Meetinghouse Road was completed late last year and available. Black Creek Holdings bought it for $25.6 million; and 
  • First Industrial Realty Trust is developing on speculation a 100,000-square-foot building at 2021 Woodhaven Road. 

Companies prefer new warehouse-distribution centers with higher clearances and better loading areas for tractor trailers. 

Northeast Philadelphia’s proximity to the city as well other parts of the region and access to major highways such as Interstate 95, Route 1 and the turnpikes in Pennsylvania and New Jersey also make it an ideal location for warehouse-distribution centers. Labor and access to mass transit also make it attractive. 

*Article courtesy of Philadelphia Business Journal

For more information about Philly Industrial space for sale or lease in Philadelphia or about any other 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.

Diverging Trends Emerge in Philadelphia’s Industrial Market Heading Into 2020

If there was one clear takeaway from Philadelphia’s industrial market performance last year, it was that investor demand was red hot for nearly all types of distribution properties.

Deutshce Bank’s DWS Group acquired two of Dermody Properties’ newly delivered South Jersey distribution centers, 2320 Center Square Road, and 2650 Oldmans Creek Road, for between $90 and $95 per square foot, despite the fact that both properties were unleased upon delivery.

A range of smaller firms, including Endurance Real Estate Group and Burton Real Estate, also successfully sold older properties they had acquired, renovated and leased-up within the past 36 months, often realizing large capital gains in the process.

But as the record-breaking levels of industrial leasing that prevailed during 2016 and 2017 are fading further into the rearview mirror, a noticeable divergence is emerging.

Speculative development is adding millions of square feet of unleased, modern distribution centers to Philadelphia’s inventory. Amazon’s leasing in the region has slowed and options are quickly growing for tenants looking for newly delivered space with clear heights of 30 feet or more.

At the same time, vacancies have never been tighter among older properties with lower ceilings, as more traditional industrial tenants compete for a limited inventory of affordable space.

Our latest Philadelphia industrial market video update dives into these trends in more detail, to help investors understand opportunities and risks emerging in 2020.

*Article courtesy of the CoStar News, Adrian Ponsen

For more information about Philly industrial space or other Philadelphia commercial properties, please contact the team at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly industrial space at  215-799-6900.

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

Philly finally gets a million-square-foot warehouse – but not the thousands of jobs: UPS on Red Lion Rd. will be ‘highly automated’

It hasn’t been announced by the company, but the Inquirer has confirmed that United Parcel Service plans to build a million-square-foot facility on the 138-acre former Budd Co. property at 1 Red Lion Rd. in Northeast Philadelphia, one of the biggest available industrial properties in the city.

Plans call for 950 parking spaces, and UPS had told city officials they were planning a facility that could employ 1,000, including shift and part-time workers. But UPS has told state officials it is committed to hiring a more modest 352 full-time workers by the time it opens in 2022, and has separately said new plants in Philadelphia and other Pennsylvania cities are part of a wave of “highly automated” facilities that won’t create as many jobs per box as earlier ones.

UPS and its competitors such as Amazon and FedEx have been adding automation equipment to save labor. “We are early in the planning and feasibility phase of the new facility, so additional project details are not available at this point,” UPS spokeswoman Kim Krebs said.

Nearby residents and storekeepers, including owners of upscale houses built since Budd closed, will have to get used to renewed truck traffic.

“Large 18-wheel tractor trailers will enter and exit by using Sandmeyer Lane, with the smaller UPS delivery trucks using the Red Lion Road entrance,” wrote Jack O’Hara, head of the Greater Bustleton Civic League, in a note to residents, confirming he’d gotten word of the plan from developers.

Some neighbors have started calling the property “Mount Somerton,” for the vast mound of cleaned dirt that Meyer Contracting Co. has piled there from road projects around Philadelphia for owner and developer Commercial Development Corp. of St. Louis. That firm will use that dirt to cap the building site, which has been subject to environmental remediation projects to clean up toxic materials left over from its railcar construction days.

The site is in a city and state Keystone Opportunity Zone, said city Commerce Department spokesman Kevin Lessard. That means UPS will qualify for state and local income and business tax exemptions. UPS won’t need zoning variances or waivers for the industrial-zoned site, but it will need a stormwater management permit, Lessard added.

Developers and the quasi-public Philadelphia Industrial Development Corp. had sought and failed to locate projects for the site since the successor to the Budd Co. railcar plant closed in 1987. A golf course developer and Teva Pharmaceuticals USA had each announced and then canceled redevelopment plans for the site. Commercial finally bought the property for $18 million from Teva two years ago.

reported UPS was looking at the site last September after UPS and other sources confirmed the company had hired local contractors to draw up plans.

Commercial Development has hired a local team of big-project specialists for the UPS job: real estate lawyer Carl Primavera of Klehr Harrison Harvey Branzburg LLP; Blue Rock Construction, owned by Steve Kettelberger, which specializes in Eastern Pennsylvania and New Jersey warehouses; and Watchdog Real Estate Project Management, headed by Stephen Fean, whose local clients include Campbell Soup, FMC, and PNC.

Gov. Tom Wolf said last month that he planned to give as much as $9 million in public training and incentive funds to UPS, the largest nonretail private employer in the state, with nearly 20,000 workers, plus thousands of pre-Christmas temps, to help it build additional facilities somewhere in Philadelphia and in three other counties.

The company operates sorting hubs across the region, plus one of its six main U.S. air hubs at Philadelphia International Airport. But, like Amazon, UPS had mostly preferred to build its larger one-million-square-foot-sized facilities in former farming, mining, or factory districts away from the major cities, such as in Gloucester County and the Lehigh Valley. The company plans its sixth U.S. “super hub” in Harrisburg.

According to Wolf, UPS will create a total of 1,721 new, full-time jobs at Philadelphia and three other Pennsylvania sites, and agreed to “retain” more than 6,000 of the workers at its remaining facilities.

The Pennsylvania taxpayer subsidy offered to UPS, which collected more than $4 billion in after-tax profits last year, includes “$2.7 million in Job Creation Tax Credits to be distributed following the creation of the new jobs, $5.6 million in Infrastructure and Facilities Improvement Program funding, and $659,400 in grants for workforce training and development,” according to state spokesperson Casey Smith.

When it bought the property in 2018, Commercial Development said it planned to build up to 1.6 million square feet of industrial space, larger than the tallest Center City office buildings.

O’Hara said the UPS facility would cover one million square feet. Although Northeast Philadelphia Airport is nearby, O’Hara added that the airport “will not be involved” with the Red Lion Road facility.

Commercial Development is used to moving mountains, or at least hills and swamps, to accommodate new construction. The company is filling and replacing wetlands to redevelop the Claymont Steel site on the Delaware-Pennsylvania border. That is so Media-based developer Greg Lingo can proceed with plans to build 1,200 townhomes along the Delaware River, next to a planned $54 million SEPTA train station. Lingo’s company, Rockwell Custom, is also building homes along the Delaware farther south, at the former Fort DuPont State Park near Delaware City, Del.

Like its rivals, UPS has been using robotics and experimenting with airborne drones to speed package movement. Automation would not displace jobs at older UPS locations, spokesman David Graves said after a demonstration at the company’s new plant near Swedesboro last year.

According to O’Hara’s letter, Commercial Development plans “a series of community outreach meetings” in March or April to provide more of the project’s final details. He said neighbors in Philadelphia’s Bustleton and Somerton sections and in Lower Moreland Township will be notified of the meetings.

O’Hara said PennDot and the Philadelphia Streets Department are conducting a traffic study. He said the results and planned road improvements should be presented at the community meetings this spring.

*Article courtesy of the Philadelphia Inquirer

For more information about Philly industrial space or other Philadelphia commercial properties, please contact the team at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly industrial space at  215-799-6900.

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

Philly Industrial Space for Lease in Delano

Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker with expertise in Philly commercial real estate listings and services, now has available a highly visible Philly industrial building for lease at 10 Schultz Drive Delano PA.

This Philly space for lease is a +/- 69,300 square-foot building and the asking lease price for this industrial space in Philly is $3.50 sf NNN. This Philly industrial space for lease at 10 Schultz Drive Delano PA is available through Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm that specializes in Philly commercial real estate listings and services.

This Philly industrial building for lease has a ceiling height of +/- 20 feet and this industrial space in Philly has a truck loading capacity of 13 tailgate doors. This Philly industrial space for lease also has one drive door.

There is public sewer and water at this industrial space in Philly and the heating system at this Philadelphia industrial building for lease is propane-fired hot air.

This one-story industrial space in Philly at 10 Schultz Drive Delano PA is about 1/8-mile from Route I-81 and this Philly industrial building for lease is about 10 miles south of Hazleton.

More than 56,000 people reside within a 10-mile radius of this industrial space in Philly at 10 Schultz Drive Delano PA.  The average household income in the same area near this Philly industrial space for lease is $46,328.

For more information about this Philly industrial building for lease at 10 Schultz Drive Delano PA or about any other Philly commercial properties for sale or lease, please contact Lee Fein (215-799-6040, lee.fein@wolfcre.com) at Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.

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