(Read more on the industrial market.)

PHILADELPHIA-Rotem USA Corp., a maker of rail cars, has signed a 20-year lease for all of the 290,000-sf industrial building at 2400 Weccacoe Ave. Since setting up shop in a 110,000-sf building in the Philadelphia Naval Business Center in March 2003, the company's business has increased substantially, requiring it to relocate and expand its US headquarters.

Rotem USA is the American subsidiary of Seoul-based Rotem Co., a division of Hyundai Motors Group. After months of evaluating sites elsewhere, it decided to establish a new US headquarters in the vacant Weccacoe building, which locally based Rimas Properties acquired for $8.2 million in third-quarter 2006. It is located on 11.5 acres and contains 25,000 sf of office and 265,000 sf of manufacturing space.