Posts Categorized: Philly Industrial Space

Philly Industrial Vacancy Rate Drops to All-Time Low

Flush with cash from stimulus checks and record savings accrued while social distancing, U.S. households continue to spend at record levels on consumer goods heading into the second half of 2021. This spending splurge is also driving voracious demand for logistics space, pushing Philadelphia’s industrial vacancy rate below 5% for the first time on record… Read more »

Gambone Group jettisons Montco industrial portfolio for more than $210M

Gambone Group has sold a portfolio of 43 of its industrial buildings in Montgomery County for a little more than $210 million, seizing on a market that is pricing warehouse and flex properties at unprecedented levels. MRP Industrial was the buyer in the off-market transaction, according to multiple sources. The properties total 1.4 million square… Read more »

Brandywine Realty Trust Dips Toe into Industrial Real Estate with Latest Proposal

Brandywine Realty Trust is proposing to develop two industrial buildings off of Roosevelt Boulevard in Northeast Philadelphia in a move that veers from its focus on developing and owning trophy office buildings. The Philadelphia real estate investment trust wants to build a 338,208-square-foot structure and a companion 330,700-square-foot structure at 15000 Roosevelt Blvd. on 50… Read more »

Amazon Now Encircles the Philadelphia Region with Over 50 Warehouses

When Connor Lord first arrived at the Amazon Fulfillment Center in West Deptford Township, he was staggered by the sheer size of the place. After driving through the traffic light to the north of the warehouse, its massive bulk dwarfed everything else in this stretch of suburban South Jersey. “It’s intimidating at first seeing this… Read more »

Bridge Development Partners Sets its Sights on Philadelphia for Industrial Investment

As Bridge Development Partners begins construction on the second and final phase of Bridge Point 78 in central New Jersey, the real estate company is turning its attention to Philadelphia. The Chicago-based developer, in partnership with DH Property Holdings, landed a lease with TJX Cos. last year for a 283,000-square-foot build-to-suit at 9801 Blue Grass Road in… Read more »

International Paper Pays $11.6M for Warehouse in Chester County

International Paper Co. has paid $11.6 million for a 415,700-square-foot warehouse in West Sadsbury, a rural enclave on the far western edges of Chester County where it abuts Lancaster County. The building at 4581 Lower Valley Road was sold by VMM Eckman Management, an entity affiliated with J.D. Eckman, a Reading company that does highway… Read more »