DP Partners Completes Penn Jersey Headquarters in Philly

"DP Partners, an affiliate of Dermody Properties, has completed a new 255,336-square-foot corporate headquarters and industrial distribution center for Penn Jersey (PJP) in Northeast Philadelphia, allowing the company to expand its current operations and retain 250 jobs in the city instead of moving outside the area.

The facility is located on 30 acres at 9355 Blue Grass Road. DP Partners expects the facility will receive LEED Silver Certification by summer. Approximately 230 construction jobs were created since the project's inception in June 2010, resulting in an estimated $51 million in economic benefits to the area.

PJP signed a 15-year lease for the entire facility, with operations beginning this month. The new location allows the tenant to expand by more than 75,000 square feet as it relocates from its current facility on Red Lion Road. PJP is a regional distributor of packaging, paper, janitorial chemical and restaurant equipment and supplies, providing more than 8,500 items to customers throughout the northeastern United States.

A joint venture of Dermody Properties and Boston-based Great Point Investors LLC own the new facility. DP Partners and PJP worked with the Philadelphia Industrial Development Corporation (PIDC) to identify the land site, located in the state's Keystone Opportunity Zone, which provides tax abatements and other incentives for 10 years. Blue Rock Construction was the general contractor for the project."