Portman Delivers 1st Phase of $330M Philly-Area Project
The industrial building spans more than 600,000 square feet.
Portman Holdings has wrapped up the construction of a 636,121-square-foot, Class A logistics facility in Exton, Pa., marking the debut of I-76 Trade Center’s first phase. The $330 million industrial project is set to comprise 1.9 million square feet upon completion.
Work kicked off in 2023 after Portman purchased the land. KSS Architects designed the development with Alston serving as the general contractor. Bank OZK issued a $60 million construction note one year later, CommercialEdge shows.
Located at 1130 Pottstown Pike, the building is roughly 37 miles northeast of downtown Philadelphia. The city’s port and airport operate within some 40 miles, while thoroughfares such as Interstate 76 and U.S. Route 30 run about 6 miles away.
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The facility features a 40-foot clear height, 108 loading docks and four drive-in doors, as well as 146 trailer and 508 car parking spaces. What’s more, a 36-acre public park adjacent to the building will officially open later this week.
Construction is slated to carry on at the I-76 Trade Center project, which sits on 169 acres. Next month, Portman will break ground on the second and final phase, bolstering metro Philadelphia’s industrial pipeline with two facilities encompassing 1.1 million and 154,440 square feet, respectively.
Portman’s growing industrial inventory
Portman branched out into the industrial market in 2021 and has grown its footprint in the sector to 8.8 million square feet of delivered, underway or planned product. The company is active in markets such as Boston, New Jersey, Philadelphia, Austin, Texas and Charleston, S.C.
In South Carolina, Portman partnered with CapitaLand Ascendas REIT to go vertical on the Summerville Logistics Center last year. Completion of the 549,000-square-foot project is expected by the end of the year.
Greater Philadelphia’s completions buck national trends
Metro Philadelphia held 8.3 million square feet of industrial space underway as of April, according to a recent market update. The figure represented 1.8 percent of stock, slightly above the national index of 1.7 percent.
The market witnessed the industrial completion of approximately 6.2 million square feet of product during the first four months of 2025, accounting for 1.3 percent of inventory, more than doubling the national figure of 0.5 percent, according to the same source.
Despite strong deliveries, the metro’s industrial vacancy rate stood at 8.1 percent, 10 basis points below the national average, the market update reveals.
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