[IMGCAP(1)]PHILADELPHIA-BDB Co. sold its 86,315-sf office and cold storage food warehouse and distribution center at 3445 and 3535 S. Front St. here to Ashforth Paradigm Capital Advisors for nearly $7.7 million. BDB, which was represented by CB Richard Ellis Inc. in the transaction, is a private partnership affiliated with the facility’s sole tenants, Brooks Provisions.

[IMGCAP(2)]The property, which is located within the Food Distribution Center here, consists of three-story office space connected to a one-story warehouse and distribution facility on 3.36 acres. The original building was constructed in 1965 and expanded by 46,000 sf in 2001, when the 9,525-sf office section and a high bay freezer space were added. Brooks Provisions, which has occupied the space for 35 years and has its corporate headquarters in the office section, plans to remain on the property.

[IMGCAP(3)]CBRE senior vice president Stephen Marzullo, who arranged the sale with assistance from executive vice president Patrick Green and associate Michael Mullin, tells GlobeSt.com that BDB felt the market timing was ideal for a sale. He added that there is very high demand for space in the FDC submarket, and limited supply for that space. The property is located in a master planned industrial park designed specifically for food-related users. The entire complex is approximately 300 acres with 2.5 million sf of warehouse, freezer and cooler buildings.

According to Marzullo, this is an excellent location for distribution properties. The Front St. property is half a mile from I-95, I-76 and the Walt Whitman Bridge. In addition, there is an active rail spur located in the industrial park, and both Packer Avenue Marine Terminal of the Ports of Philadelphia and Philadelphia International Airport are nearby.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.