Monday, March 30, 2020

Boston Firm Adds Northeast Philadelphia Industrial Buildings to Growing Portfolio

Full service investment firm NorthBridge Partners has purchased a 281,000-square-foot, four-building portfolio in the Northeast Philadelphia industrial submarket from local development shop Anvil Construction for $25.5 million, or about $91 per square foot.

The properties in the Byberry East and West Section of the Philadelphia Industrial Park are located at 2722 Commerce Way, 2801-17 Southampton Road, 2825-45 Southampton Road and 2191 Hornig Road.

At the time of sale, the portfolio was 94% leased to 12 different tenants including United Natural Foods, Goodman Distribution, the City of Philadelphia, EIS and Riley Sales.

The team at Roddy Inc. will represent NorthBridge in the leasing of the Philadelphia industrial portfolio moving forward. There is currently 24,000 square feet of space available and tenant needs from 6,000 to 24,000 square feet can be accommodated.

Headquartered in Boston, NorthBridge Partners has invested more than $450 million of capital across over 30 separate investments totaling over 4 million square feet since its launch in 2014, according to its website.

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