Spate of sales closes out another record year for Philadelphia industrial market

Two year-end acquisitions of several Northeast Philadelphia properties that totaled $45 million contributed to the region having another record year in industrial sales with $3.24 billion warehouse-distribution properties trading. 

Faropoint picked up two buildings totaling nearly 275,000 square feet. The properties included 327 Chew Ave., a 170,390-square-foot building in the Fox Chase section of Philadelphia, and a 104,500-square-foot building at 1211 Ford Road in the Bridgewater Industrial Park in Bensalem.

Greek Development separately bought six buildings totaling 173,128 square feet on 15 acres. The acquisition adds to Greek’s presence in the area. It bought last June a nearby 305,706-square-foot industrial building at 2121 Wheatsheaf Lane.

*Article courtesy of Philadelphia Business Journal

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