Terms of the lease are undisclosed. The average asking rental rate for industrial space in the city, however, is significantly lower than comparable space in surrounding counties and averages approximately $3.50 per sf, according to GlobeSt.com research.
Patrick J. Green, senior managing director of the local office of New York-based Insignia/ESG, represented the owner in the transaction.
SEPTA operates more than 2,500 busses, trolleys, subways, elevated trains and commuter trains. Its rail network links 13 lines into a single, 272-mile system and connects stations south of the city to Newark, DE and north to Trenton, NJ.
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