September Logistics & Distribution Update

by lsmith
September 25, 2019

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In early 2018, PIDC released Philadelphia Delivers: A Hub for Logistics & Distribution. Since the report’s release, Philadelphia has continued to see significant real estate development in this booming industrial sector. In this monthly series, you can catch up on the ongoing logistics and distribution activity happening in Philadelphia.

This September, PIDC sold a parcel in our Byberry East Industrial Park to Blue Rock Construction — a company which provides consulting, design-build and construction management services throughout the country. Blue Rock Construction is planning to build a 45K SF flex-industrial building at 14000 Townsend Road, of which 15K SF will be occupied by the company to relocate 12 employees from its suburban offices. The remaining 30K SF will be leased to tenants seeking smaller industrial space. PIDC anticipates the property to appeal to smaller users seeking high-quality modern space – a strong niche in the market with great demand. This project continues the recent trend of speculative industrial investment in Philadelphia, including two sales in the last 12 months that will create more than 300,000 SF of modern logistics space.

In addition to creating modern, new industrial space for companies looking to expand or relocate to Philadelphia, the 14000 Townsend Road project reflects the strength of industrial demand in the city and confirm Philadelphia’s appeal as a location for logistics & distribution investment.

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