{"id":1004694182,"date":"2023-12-14T04:58:52","date_gmt":"2023-12-14T12:58:52","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004694182"},"modified":"2023-12-14T05:01:56","modified_gmt":"2023-12-14T13:01:56","slug":"rockefeller-group-pccp-to-build-philly-industrial-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rockefeller-group-pccp-to-build-philly-industrial-campus\/","title":{"rendered":"Rockefeller Group, PCCP to Build Philly Industrial Campus"},"content":{"rendered":"
\"Rockefeller<\/a>

Rockefeller Group Logistics Center at Roosevelt Boulevard will total 656,904 square feet. Image courtesy of Rockefeller Group<\/em><\/p><\/div>\n

Rockefeller<\/strong> Group<\/strong> has entered into a joint venture partnership with PCCP<\/strong>\u00a0LLC<\/strong> for the construction of Rockefeller Group Logistics Center at Roosevelt Boulevard, a two-building, 656,904-square-foot industrial project in Philadelphia. The development team includes IMC Construction<\/strong> as general contractor, NORR<\/strong> as architect of record and Pennoni<\/strong> Associates<\/strong> as civil engineer.<\/p>\n

The companies purchased the project’s 50.4-acre site from Philadelphia Industrial Development Corp.<\/strong>, the city\u2019s public-private economic development organization.\u00a0The partners represented themselves in the land acquisition; CBRE<\/strong> provided advisory services during negotiations and has been retained as exclusive leasing agent for the project.<\/p>\n

\n

READ<\/strong> ALSO<\/strong>: Behind the Project: Portman Goes Big in Philly<\/a><\/p>\n

\n

This will be Rockefeller Group\u2019s first industrial development in Philadelphia, where there is old industrial product and a growing demand for new Class A space, said Vice President & Regional Director Heath Abramsohn in prepared remarks. The industrial campus will comprise two buildings of 318,696 and 338,208 square feet, respectively.<\/p>\n

Rockefeller Group Logistics Center at Roosevelt Boulevard will take shape at 1500 Roosevelt Blvd., on the site of the former Byberry State Hospital. The location is 5 miles from Northeast Philadelphia Airport, 15 miles from Trenton, N.J., 21 miles from downtown Philadelphia and within 47 miles of Wilmington, Del.<\/p>\n

CBRE\u2019s team of Mike Hines and Brad Ruppel advised the joint venture partners during the land acquisition, while the company\u2019s Drew Green, Paul Touhey and Mike Mullen will serve as the property’s leasing agents.<\/p>\n

Philly leading the Northeast for industrial development<\/h2>\n

Philadelphia continues to lead the major northeastern markets for industrial pipeline size, according to a recent CommercialEdge report<\/a>. The metro had 11 million square feet underway as of October, being followed by New Jersey (7.3 million square feet), Bridgeport (3.4 million square feet) and Boston (2.3 million square feet).<\/p>\n

One major development in the area is Hilco Redevelopment Partners’ 1,300-acre, $4 billion Bellwether District project<\/a> in South Philadelphia, that broke ground in October. Plans call for a 14 million-square-foot campus set to include life sciences, industrial and logistics space.<\/p>\n

Other projects include Sansone and Crow Holdings Capital’s Tac-Pal Logistics Center in Palmyra, N.J. The partnership recently received $102 million in construction<\/a> financing for the development’s second phase, slated to include a 700,000-square-foot industrial building.<\/p>\n","protected":false},"excerpt":{"rendered":"

This project will take shape on the site of a former hospital.<\/p>\n","protected":false},"author":2991,"featured_media":1004694195,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21748,11,21742,1494],"tags":[32789,35491,42617,33053,33348],"class_list":["post-1004694182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-midatlantic","category-latest","category-philadelphia","tag-cbre","tag-imc-construction","tag-norr-architects","tag-pccp-llc","tag-the-rockefeller-group"],"acf":[],"yoast_head":"\nRockefeller Group, PCCP to Build Philly Industrial Campus - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Rockefeller Group and PCCP LLC have teamed up for the development of a two-building industrial project in Philadelphia.\" \/>\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\/rockefeller-group-pccp-to-build-philly-industrial-campus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rockefeller Group, PCCP to Build Philly Industrial Campus\" \/>\n<meta property=\"og:description\" content=\"Rockefeller Group and PCCP LLC have teamed up for the development of a two-building industrial project in Philadelphia.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/rockefeller-group-pccp-to-build-philly-industrial-campus\/\" \/>\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=\"2023-12-14T12:58:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-14T13:01:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Rockefeller-Group-Logistics-Center-at-Roosevelt-Blvd-e1702554182375.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2020\" \/>\n\t<meta property=\"og:image:height\" content=\"1516\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\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\/rockefeller-group-pccp-to-build-philly-industrial-campus\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/rockefeller-group-pccp-to-build-philly-industrial-campus\/\",\"name\":\"Rockefeller Group, PCCP to Build Philly Industrial Campus - 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