By Jonathan Lehrfeld CoStar News
The Philadelphia headquarters and central production plant of snack maker Tastykake has been offloaded in a deal that comes as the market's industrial real estate sector shows signs of improvement.
San Francisco-based Prologis sold the South Philly facility at 4300 S. 26th St., the real estate investment trust confirmed with CoStar News via email. Prologis did not comment further on the deal.
An affiliate of Salt Lake City-based Bridge Investment Group bought the nearly 346,000-square-foot complex last month for $87 million, according to a city property record and CoStar data. Bridge did not respond to email and phone requests for comment.
Plans for the main hub of Tastykake — known for its creme-filled cupcakes and other pastries — remain to be seen. Neither the baked good group nor its Georgia-based parent company, Flowers Foods, immediately responded to a request to comment from CoStar News.
The Tastykake transaction "reflected premium pricing for infill industrial assets with strong functional utility, strategic access to regional transportation networks, and long‑term relevance for distribution or manufacturing users," CoStar wrote in its latest Philadelphia industrial report.
The deal also underscores how Philadelphia's industrial market "has found its footing in early 2026 after a historically weak 2025, when demand fell to levels not seen in decades."
The cross-dock manufacturing and distribution facility was constructed in 2009 as a build-to-suit for Tastykake. The company had nearly 10 years remaining on its 26-year lease when JLL began marketing the property for sale in the fall.
Founded as Tasty Baking Co. in 1914, the company announced in 2010 it was selling its former bakery property, corporate offices and distribution center in Philadelphia for $6 million in connection with its relocation to its current address. It then merged with Flowers Foods in 2011.
Prologis acquired the building in 2020 through its merger with Liberty Property Trust.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.