Eddystone Industrial Park, 1001 Industrial Highway, Eddystone, PA
PHILADELPHIA, PA—Foxfield Industrial, a joint venture between Novaya Real Estate Ventures and Foxfield Ventures, has acquired Eddystone Industrial Park, a four-building industrial park totaling 465,680 square feet in the Philadelphia-area community of Eddystone, PA.
A Holliday Fenoglio Fowler debt team led by director Michael Pagniucci and managing director Ryan Ade worked on behalf of Foxfield Industrial to arrange a $23.58 million acquisition loan with a regional commercial bank. Loan proceeds will be used to fund the acquisition, perform capital improvements and lease up of the property.
Situated on 43.7 acres at 1001 Industrial Highway, the property is in a last-mile distribution location near the major East Coast economic centers of New York, Philadelphia and Washington, DC. The property has easy access to Interstates 95, 295 and 476 in addition to the Pennsylvania Turnpike.
This strong logistical location is near the Port of Wilmington, the only major east coast port that is serviced by two Class 1 railroads, CSX and Norfolk Southern. Eddystone Industrial Park features clear heights ranging from 18 to 60 feet, has 52 dock doors and 16 drive in doors. An additional 150,000-square-foot building could be developed on 18.43 acres of the property that is currently undeveloped land, which provides an opportunity to expand the park.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
