MDC, which has developed more than 30 facilities nationwide for DHL/Airborne, acquired the land parcel from Philadelphia Industrial Development Corp. for an undisclosed amount. The site has Keystone Opportunity Zone status, which forgives state and local taxes for approximately 10 years. The parcel also has capacity for expanded development.
PIDC is responsible for acquiring, improving and selling industrial land throughout the city on its behalf. Parcels are zoned for immediate development, environmentally clean, and improved to include roads and utilities.
Plantation, FL-based DHL acquired Airborne Express for approximately $1.1 billion in August 2003. The two companies became fully integrated this February, creating one of the world's largest express package delivery systems.
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