3601 Island Ave., Philadelphia, PA
PHILADELPHIA, PA—Ocean Kingdom, a seafood wholesaler headquarterd in Swedesboro, NJ, has acquired 3601 Island Avenue in Philadelphia, PA, a 84,400-square-foot industry facility. The seller was not identified, but according to Real Capital Analytics, a proprietary research database that tracks commercialreal estate transactions, the property last changed hands in March 2015, when Kulp Car Rentals acquired it from Pennock Co., for $3.4 million.
“The industrial market in Philadelphia, and the surrounding region, is very strong and buyers are extremely attracted to acquiring quality facilities with excellent access to the highways like this building on Island Avenue, which is located just off I-95,” says Jonathan Klear, senior vice president of NAI Mertz, which brokered the sale.
Ocean Kingdom will use part of the building and will lease the rest of the property to two existing tenants.
Located on six acres, 3601 Island Avenue is just minutes from Philadelphia International Airport, and offers immediate access to Interstates 95 and 76, as well as the Walt Whitman Bridge. The property is serviced by public transportation and features six-inch reinforced concrete floors, ceiling heights from 15 to 23 feet, six tailgates, 14 covered van-high loading positions and office street parking for over 250 vehicles.
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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].
