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ThyssenKrupp Safway Expands to 100,000 SF

PHILADELPHIA-The firm extends its 50,000-sf lease and adds another 50,000 sf at the Airport Business Complex under a new 10-year agreement.

By Marita Thomas | Updated on August 27, 2007

(Read more on the industrial market.)

PHILADELPHIA-ThyssenKrupp Safway Inc. has extended its warehouse and office lease at the Airport Business Complex and added 50,000 sf, taking its total occupancy in the center to just above 100,000 sf. The new 10-year commitment has an aggregate value in excess of $4 million.

As GlobeSt.com previously reported, Dublin-based Castleway Properties LLC acquired the 17-building complex for $33 million in October 2006. It is located on 134 acres at 10 Industrial Hwy. and encompasses more than 1.5 million sf. The park was 85% leased at the time of Castleway’s acquisition. The ThyssenKrupp expansion and renewal follows a 10-year lease by Concord Steel for 82,783 sf in late December, which took overall occupancy in the park, which is the former Westinghouse Turbine facility, above 90%.

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