Lovett Industrial has announced the ground-breaking of the Highway 1 Commerce Center, a new Class-A industrial development in Philadelphia, Pennsylvania, US.聽聽
This 176,105ft虏 facility is designed to meet the high demand for smaller infill industrial products in the region.
Situated on a 14.5-acre site at 11301 East Roosevelt Blvd, the centre will provide direct access to the broader market via Highway 1 and the Interstate 276 (I-276) Turnpike, as well as quick access to I-95.聽
With a clear height of 36ft, the centre will include 28 dock doors, two drive-ins, 131 car parking spaces, and 25 trailer parks.
The 280ft building depth is tailored to accommodate a diverse range of tenant sizes, with spaces available from less than 75,000ft虏 to the full 176,105ft虏.聽
Lovett Industrial acquired the land for this project in November 2023 and anticipates delivery by the third quarter (Q3) of 2025.聽聽
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By GlobalDataLovett Industrial Northeast US market leader Ben Swift said: 鈥淭he demand for small shallow-bay buildings in infill locations continues to be robust, especially in the Philadelphia market.聽
鈥淭he project will provide maximum flexibility for tenants seeking well-located Class-A product. We are excited to bring this much-needed Class-A development to the market.鈥�
‘s Jonas Skovdal and Chris Butera will lead marketing and leasing efforts for the site.
BSI Construction, based in Bensalem, Pennsylvania, has been appointed as the general contractor for the Highway 1 Commerce Center.聽聽
Furthermore, Cushman & Wakefield鈥檚 Debt and Equity team, led by John Alascio, played a role in securing construction financing for the development, provided by First Citizens Bank.
Last month, Lovett Industrial, in partnership with PCCP, commenced construction on a new logistics hub in Garland, Texas, US.
