Posts Categorized: Philadelphia Industrial space

With Amazon Locked in, Sale Price of Philadelphia Warehouse Tops $70M

An entity affiliated with GLP Capital Partners of Santa Monica, California, paid $71.5 million for 2400 Weccacoe Ave., a warehouse in Philadelphia leased to Amazon. GLP US Management II LLC bought the 283,000-square-foot building in November, according to Philadelphia property records. When the sale was announced, neither the sale price nor the buyer were disclosed… Read more »

Amazon Takes More Warehouse Space in Philadelphia for Last-Mile Distribution Inc. has leased 94,000 square feet in Philadelphia for last-mile distribution as part of its continued expansion throughout the region. The online retailer signed a long-term lease on a portion of a building at 700 Ramona Ave. in North Philadelphia, according to those familiar with the deal. The building had been vacant. Amazon (NASDAQ:… Read more »

Dow Chemical Site to Become Distribution Campus in East Philadelphia

Property Sale, Development Represent a Total Capitalization of More than $115 Million Industrial developer DH Property Holdings plans to build a sprawling last-mile distribution campus on the site of a former chemical plant in Philadelphia. The company and its capital partner acquired a 69-acre parcel of land at 5000 Richmond St. that once housed a chemical refinery… Read more »

Trammell Crow Breaks Ground on Two-Building Industrial Park in Aston

Trammell Crow Co.’s Northeast Metro Business Unit has broke ground on Springbrooke Trade Center, a two-building industrial park about 22 miles southwest of Center City Philadelphia in Aston, Pennsylvania. Springbrooke Trade Center is set to include a 210,400-square-foot building at 300 Springbrooke Blvd. and a 273,600-square-foot building at 500 Springbrooke Blvd. Both facilities are set to include a 36-foot… Read more »

Amazon’s Rapid Warehouse Expansion Reverberates Across the Nation

Earlier this month, Amazon opened a new 1-million-square-foot fulfillment center in Berks County. The facility is the online retail giant’s 15th large fulfillment center in Pennsylvania and is expected to create 1,000 new full-time jobs paying at least $15 an hour. Amazon fulfillment centers like this one typically draw a small ecosystem of other businesses nearby —… Read more »

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… Read more »

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… Read more »

Amazon’s Philadelphia-area leasing spree continues

Amazon's Philadelphia-area leasing spree continues 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… Read more »