PHILADELPHIA, PA — JLL Capital Markets announced that it arranged the $24.7 million sale of the Philadelphia Airport infill industrial portfolio totaling 122,373 s/f in Philadelphia.
JLL represented the seller, Alliance HP, a Bryn Mawr, PA based real estate investment firm focused on small and medium sized, value-add industrial investments in Greater Philadelphia and South Florida. Campbell Rocco Law represented Alliance on the transaction.
The Philadelphia Infill Industrial Portfolio consists of three properties located at 3250 78th St., 3201 South 76th St. and 3440 Bartram Ave., and are fully leased to three tenants. Key features across the portfolio include clear heights between 17 and 22 feet, 14 loading doors, five drive-in doors and 163 parking spaces. The assets are located within a 2.5-mile radius of the Philadelphia International Airport and within a 15-minute drive from the PhilaPort.
The Philadelphia I-95 Corridor stretches from Trenton, NJ south towards New Castle County, DE. This corridor is one of the strongest performing industrial markets in the U.S. and serves as the mid-point between NYC and Washington DC, offering best-in-class connectivity to some of the most concentrated population centers in the country. JLL’s research team tracks over 336.5M s/f of industrial product, both existing and active construction, along this corridor across 2,647 buildings.
The JLL Capital Markets team was led by John Plower and Ryan Cottone, along with their partners on the industrial brokerage team, Larry Maister and Kyle Lockard.
“These properties were well received in the market due to their irreplaceable location, stable cash flow and good tenant mix. We saw very strong interest during the marketing process and were pleased with the outcome,” said Plower.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients.
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