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PHILADELPHIA-Menasha Corp., the Neenah, WI-based global supplier to the printing and packaging industries, subleased 116,117 sf in the 450,000-sf industrial building at 700 Pattison Ave. from College Point, NY-based Jetro, a wholesale food and beverage supplier. This returns the building to 100% occupancy.

Terms and rental rate are undisclosed. Richard Gorodesky, SVP in the local office of Colliers Lanard & Axilbund, represented Menasha and tells GlobeSt.com, “the asking rental rate was $3.75 per sf, triple net.” No other brokers participated in the deal. Menasha will use the space as a general warehouse and for the distribution of food-related products.

The building is among the largest in the multi-building food distribution center that spans approximately 10 blocks from Front St. to the stadium complex. Gorodesky says its ownership is a complicated mix, because some of the space is divided into several sections of condo warehouse space.

According to data from Colliers L&A, the vacancy rate for industrial space in Philadelphia County is on a downward trend. It fell from 12.6% at year-end 2003 to 11.6% a year later.

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