2400 Weccacoe Ave, Philadelphia
PHILADELPHIA—Wharton Industrial Partners of New York City and Chicago-based Walton Street Capital have acquired a 283,500-square-foot industrial property at 2400 Weccacoe Ave. located three miles outside of Center City here.
The 13.5-acre site was sold by a Zurich-based individual investor who purchased the property in 2006. CBRE's Patrick Green and Michael Mullen represented the seller in the transaction. The new ownership has tapped both Green and Mullen, in addition to CBRE SVP Jake Terkanian, to spearhead the leasing campaign at the property. No financial terms of the transaction were disclosed.
Wharton Industrial and Walton Street plan to invest upwards of $10 million to completely transform the site, which it will rebrand as "SoPhi (pronounced, Sōfee) Logistics Center."
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
