August 26, 2019
In addition to creating modern, new industrial space for companies looking to expand or relocate to Philadelphia, these projects reflect the strength of industrial demand in the city and confirm Philadelphia’s appeal as a location for logistics & distribution investment.
In October 2018, PIDC sold a parcel in our Byberry East Industrial Park to Transwestern Development Company which, along with AEW Capital Management, proposed to build the Philadelphia Logistics Center, a 207,500 SF speculative distribution facility and the first speculative distribution investment in modern Philadelphia history. The site, located at 3025 Meeting House Road, is a strategic location with ideal access to key mid-Atlantic locations via a total of seven highway entrances within 10 miles. It features 36-foot clear ceiling heights, and 50 x 54 column spacing allowing for efficient space utilization or subdivision. Property features also include 242 parking spaces for cars and 56 for trailer storage. Less than 1-year later, the Transwestern Development Company project is complete and now leasing.
In July 2019, First Industrial Realty Trust purchased a site from PIDC to construct First Independence Logistics Center—a 100,167 SF speculative distribution center at 2021 Woodhaven Road. First Independence Logistics Center is located in close proximity to Rt. 1, I-276, and I-95. It will include 75 car parking spaces, 16 trailer parking spaces, and a truck court along with 16 loading docks. Construction is expected to be completed in the 1st quarter of 2020 and will add another quality building to the Philadelphia market.