{"id":1004493430,"date":"2020-11-17T09:47:38","date_gmt":"2020-11-17T17:47:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004493430"},"modified":"2025-02-26T02:24:03","modified_gmt":"2025-02-26T10:24:03","slug":"cbre-closes-sale-of-amazon-leased-philly-warehouse","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbre-closes-sale-of-amazon-leased-philly-warehouse\/","title":{"rendered":"CBRE Closes Sale of Amazon-Leased Philly Warehouse"},"content":{"rendered":"
\"\"<\/a>

SoPhi Logistics Center. Image courtesy of CBRE<\/i><\/p><\/div>\n

CBRE has facilitated the disposition of SoPhi Logistics Center, a 283,500-square-foot last-mile industrial property in Philadelphia. A private investor acquired the Amazon-leased facility.<\/p>\n

A team consisting of Vice Chairmen Michael Hines and Brian Fiumara, along with Executive Vice President Brad Ruppel and Director Lauren Dawicki negotiated on behalf of the seller, a joint venture of Wharton Industrial Partners and Walton Street Capital. The partnership paid an individual investor $16.8 million for the asset in September 2019, according to Philadelphia County records.<\/p>\n

Located on 15 acres at 2400 Weccacoe Ave., the warehouse was built in 1970. Following the 2019 acquisition, the partnership implemented a $10 million capital improvement plan on the property. The upgrades included replacing the roof, expanding the loading docks, repaving the entire property and several other cosmetic finishes.<\/p>\n

In June, Amazon signed a 10-year lease for the entire facility, which is a short distance from interstates 76 and 95, the Port of Philadelphia and the CSX Rail Yard Philadelphia. Additionally, the property is 4 miles south of the city center and roughly 8 miles northeast of the Philadelphia International Airport.<\/p>\n

In August, the Wharton and Walton partnership acquired a 1.2 million-square-foot logistics portfolio<\/a> in Pennsauken, N.J. The Bloom Organization sold the Twinbridge Industrial Park and Veterans Industrial Park, which encompass 32 buildings.<\/p>\n

If you\u2019d like to be featured in Brokers\u2019 Corner, simply fill in <\/em>our short form<\/em><\/strong><\/a> or send your deal to <\/em>deals@cpe-mhn.com<\/em><\/strong><\/a>.<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

Michael Hines, Brian Fiumara, Brad Ruppel and Lauren Dawicki assisted the seller of the 283,500-square-foot building.<\/p>\n","protected":false},"author":867,"featured_media":1004365520,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21742,10,1494],"tags":[37482,47870,32789,34828,37674,50641],"class_list":["post-1004493430","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-latest","category-northeast","category-philadelphia","tag-amazon","tag-brian-fiumara","tag-cbre","tag-michael-hines","tag-walton-street-capital","tag-wharton-equities"],"acf":[],"yoast_head":"\nCBRE Closes Sale of Amazon-Leased Philly Warehouse - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cbre-closes-sale-of-amazon-leased-philly-warehouse\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBRE Closes Sale of Amazon-Leased Philly Warehouse\" \/>\n<meta property=\"og:description\" content=\"Michael Hines, Brian Fiumara, Brad Ruppel and Lauren Dawicki assisted the seller of the 283,500-square-foot building.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cbre-closes-sale-of-amazon-leased-philly-warehouse\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-17T17:47:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-26T10:24:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/CPE-Brokers-Corner-827x400.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"827\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Pavel Cazacu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbre-closes-sale-of-amazon-leased-philly-warehouse\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cbre-closes-sale-of-amazon-leased-philly-warehouse\/\",\"name\":\"CBRE Closes Sale of Amazon-Leased Philly Warehouse - 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