The Port of Philadelphia is taking over former Philadelphia Produce and Seafood Terminal in order to expand to over 1,000 acres of land.
This acquisition, which was purchased from PIDC, will be used to develop warehousing for the growth of the Packer Avenue Marine Terminal and will also play a vital role in Governor Wolf’s $300 million plan to expand the Port.
“We are excited to support the continued expansion of PhilaPort with the sale of this strategic parcel,” said John Grady, President of PIDC in a press release. “For more than 60 years, this site has played an important role in the movement of goods and services throughout the region, supporting business growth and thousands of family-sustaining jobs. With its strategic location, growing port, deep pool of skilled labor, and direct access to a large customer base in the northeast United States, Philadelphia is poised for even greater investment, development and job growth as a center for logistics, transportation, and distribution.”
The Port of Philadelphia is a huge economic engine in the Greater Philadelphia region; with this land acquisition, the Port is expected to increase job opportunities and economic growth.