Rite Aid Corp. to move HQ to Philadelphia Navy Yard

Rite Aid Corp. signed a lease for a 23,500 square foot space at 1200 Intrepid Ave for their “enterprise headquarters” as part of an effort to redefine how they envision their employees working as a result of the pandemic.

Article from Philadelphia Business Journal

STORIES FROM OUR REGION – August 2021

Biomeme Doubles Space with Center City Headquarters Relocation

Growth due to the success of its COVID test has led the diagnostic company’s to relocate its headquarters, lab, and production to the 44,000 square feet space on 401 N. Broad St., which will accommodate all of the uses it needs in one location.

Life Sciences Firm Aro Biotherapeutics Take Space at the Curtis

The biotechnology company chose the Curtis for the opportunity to design its space to accommodate its biotechnology, chemistry, and protein engineers, as well as to continue its commitment to the growing biotech and life sciences industry in the city.

BeiGene to Build Manufacturing, Clinical R&D Center in Hopewell

The acquisition of the approximately 42-acre site, which includes plans to build a state-of-the-art facility for commercial-stage biologic pharmaceutical manufacturing, clinical R&D, and an innovation center, will also bring hundreds of new hires from the area’s deep talent pool.

Two Delaware Biopharma Companies Set to Expand with Lab Space Grants

With the support of the state grants, AMT will expand its existing space by 12,500 square feet and expects to add 35 jobs over three years. Sepax Technologies will build more than 8,000 square feet of new labs and expects to hire 35 new employees by the end of 2023.

Camden Continues Next Phase of its Economic Growth

Top priorities in the city’s next phase toward revitalization focus on economic development and building community wealth, parks, infrastructure, as well as education.

Chicago-Based Company Plans Logistics Campus in Burlington County

Logistics Property Co. LLC acquired the 72.35-acre parcel off Route 130 in Cinnaminson, with plans to develop a 1.2 million- to 1.5 million-square-foot complex with up to 6 acres of parking.

View of Philadelphia Skyline from the Art Museum

STORIES FROM OUR REGION – July 2021

China-Based WuXi AppTec Awarded $19M for Delaware Drug Plant

The proposed 1.7 million-square-foot complex — bigger than Philadelphia’s largest office towers — would be WuXi AppTec’s largest U.S. manufacturing facility.

Penn Medicine’s $1.5B Pavilion Nears Completion

The addition of the Pavilion and shift to fully private patient rooms at the Hospital of the University of Pennsylvania will add an extra 390 beds, increasing the overall capacity to 1,198 beds between HUP and the Pavilion.

PhilaPort Lands $49M Grant for First Deepwater Berth in Nearly 50 Years

The Southport berth project will improve cargo efficiency by allowing ships to dock directly at PhilaPort’s Southport terminal, placing vehicles near the processing center, and reducing transfers between processing centers.

Philadelphia International Airport Investing $90M to Become East Coast’s ‘Premier Cargo Airport’

The expansion will add 136 acres to PHL’s air cargo capability and offerings, bringing the cargo building area to 1.4 million square feet.

United Cocoa Processor (UCP) Expands Plant

As part of their expansion to maximize the return found in a single bean, the Glasgow cocoa product manufacturer is including a second roasting line, which will allow them to roast 211,000 pounds of cocoa beans and nibs per day.

Three-Building South Jersey Industrial Portfolio Sells for Estimated $48M

High Street Logistics Properties’ acquisition of the three properties — totaling 401,827 square feet — spurs from studies showing the demand for logistics space and the continued strength of labor and location in southern New Jersey.

Aerial view of Bucks County, PA

STORIES FROM OUR REGION – June 2021

Wilmington Begins Plans to Invest $100M to Spur Future Waterfront Development

Infrastructure work on the first phase, which will involve 30 acres and cost $30 million, is expected to start this summer.

487,000-Square-Foot Burlington Industrial Building Leased to LC Logistics Services Inc.

Another example of the growth being seen in Southern New Jersey’s industrial market, the Ontario-based logistics company chose the New Jersey location to gain better access to the Northeast Corridor.

Industrial/Flex Real Estate Developer Nears Completion on Hatfield Construction Project

Nappen & Associates looks to attract businesses seeking larger warehouses in industrial hubs to Hatfield with their 13,593-square-foot state-of-the-art warehouse facility, expected to be completed by fall of this year.

Former GlaxoSmithKline Property in King of Prussia Adds Penn Medicine as New Tenant

Penn Medicine plans to use the 150,000-square-foot space for expanding research into genetic medicines for rare diseases.

More Center City Office Landlords Pivoting Toward Lab Space Conversion

Eight buildings, totaling more than 1.7 million square feet, are currently repositioning themselves to attract life sciences companies, according to CBRE Inc. research.

$100M University City Development Breaks Ground; 54 Acres Sell in Bucks County

3.0 University Place, an eight-story, 250,000-square-foot lab and office building dedicated to life sciences, is expected to be completed by the fourth quarter of 2022.

Downtown Trenton, New at sunset Jersey

STORIES FROM OUR REGION – May 2021

Fore Biotherapeutics Establishes Global Headquarters in Philadelphia

The precision oncology company plans to utilize the city’s experienced life sciences industry workforce, major universities, health care institutions, and laboratory space to fuel its operational growth.

Urban Renewal LLC Sets Foundation for New Warehouse in Pemberton Township

With the potential to bring 130 residential jobs to the area, township officials see the 462,000 square-foot facility as the first step in a long-term redevelopment.

Meal-Delivery Service Company Opens Second Distribution Center in New Jersey

Freshly’s newly leased 234,000 square-foot facility –  their largest distribution center yet – will increase their meal production to 1.6 million meals per week.

Development Success amid the Pandemic Solidifies University City as a Hub of Innovation

With over $5 billion spent on development projects in the past decade and more projects worth billions to come, the neighborhood has attracted more national and international investors than ever before.

NJ Biopharmaceuticals LLC Announces Headquarters Relocation

The chemistry and biopharmaceuticals services provider will be moving its headquarters to a state-of-the-art laboratory space in Princeton, with plans for expansion in the surrounding area.

Bridge Development Partners Turns Attention to Philadelphia for Industrial Investment

Amassing more than 12.5 million square-feet of industrial space across the Northeast, the Chicago-based developer is currently evaluating industrial buildings in Philadelphia, its western suburbs, and Northern Delaware.

North Broad Street, Philadelphia from under City Hall

STORIES FROM OUR REGION – April 2021

PIDC, Ensemble, and Mosaic Unveil Navy Yard Master Plan

The first phase of the $2.5 billion development plan will include two advanced life sciences buildings followed by significant residential and hospitality initiatives. Hear directly from the developers and learn more on May 6.

Biomeme Signs Deal to Double Space

The relocation to Center City comes as the diagnostic startup continues to grow as a result of developing a successful rapid COVID-19 test.

One South Broad Turns to Lab Conversion to Fill Vacant Office Space

With plans for the conversion fully designed, 108,418 square feet of the historic building is expected to be transformed into life sciences space in nine months.

SEI Investments Finalizes its 11th Building on Oaks Campus

The new 104,000-square-foot building, which was originally planned as the first of five new structures for more SEI office space, can accommodate up to 600 people.

Report Shows New Jersey Benefitting from Recent Growth of Life Sciences Sector

Since 2018, New Jersey has seen 22 life sciences transactions over 50,000 square feet, totaling 2.5 million square feet.

E-commerce Company Newacme Bringing 34 Jobs with Expansion in New Castle

The Oregon-based company is investing $1.5 million to upgrade a 217,000 square foot warehouse at the Delaware Logistics Park, which should be in service later this year.

Trenton Bridge

STORIES FROM OUR REGION – March 2021

Governor Wolf Announces BNP Paribas Expansion in Southeastern Pennsylvania

A leading European bank has committed to investing $18 million into the project, which will retain over 100 existing jobs and bring nearly 300 full-time, high-quality jobs to the region.

Century Therapeutics Significantly Expands Capabilities with New Facilities in Pennsylvania and New Jersey

This cell therapy company plans to scale up their R&D capabilities and leverage these expansions to build upon their existing expertise in gene editing, protein engineering, and cell manufacturing, expanding their rapidly growing pipeline of cellular products.

California Company, DNA Motoring, Leases 300,700-square-foot Warehouse in Southern New Jersey

The Florence distribution center will support the company’s existing automotive retailing and distribution operations in New Jersey, as well as supply products to dealerships and customers throughout the East Coast and Midwest.

D.C. Real Estate Firm Proposes $190M Life Sciences Building in University City

The proposed 11-story building, being referred to as “one of the world’s most advanced cell-and-gene therapy research, development, and fully engineered production centers,” will include both lab and manufacturing space.

Amazon Opening Two Last-Mile Delivery Centers in New Castle County

In addition to improving delivery efficiency, the two centers, which are expected to open in late 2021, will each bring hundreds of full- and part-time jobs to the area.

PhilaPort to Break Ground on New $42M Distribution Center

Along with providing storage for dry cargo arriving at the Packer Avenue Marine Terminal, PhilaPort also plans to leverage the facility to attract other businesses to the port, including new ocean lines.

Aerial shot of Downtown Wilmington Delaware

STORIES FROM OUR REGION – February 2021

Almost 150 Manufacturing and Chemical Jobs Headed to Delaware

In addition to more job opportunities, the expansion of three companies into Wilmington and New Castle County will improve public infrastructure and contribute to the economic wellbeing of Delaware.

Denver Developer Buys 45 Acres of Industrial Property in Burlington County

The county’s rich transportation assets continue to draw more demand for industrial properties that can potentially be used as warehousing and distribution sites.

Malvern Biotech Firm Opens 23,000 sq. ft. Life Sciences Incubator

Seeing an increased need for research and development space in Greater Philadelphia, Chester County biotech company, 8BioMed, invested $12 million to create the incubator.

Amazon Eyes Lease at Delaware City Warehouse

If completed, Amazon will have added more than 5.5 million square feet in the last year to its real estate portfolio in Delaware, including facilities in New Castle and Middletown, among others.

ILC Dover Moves HQ to UD STAR Campus

The world-leading specialized engineering development and manufacturing company cites close proximity to major airports and the University of Delaware as reasons for the move.

Camber Adds 1.24 Million sq. ft. Industrial Portfolio in Southern New Jersey, Southeastern Pennsylvania

Including its most recent acquisition, the Clifton-based firm has acquired 30 buildings spanning seven counties in New Jersey and Bucks County in Pennsylvania in 2020.

Mercer County

STORIES FROM OUR REGION – January 2021

Economic Development Experts See Growth Opportunities Ahead for Greater Philadelphia

A boom in the local life sciences industry and redevelopment of commercial corridors has led to an unexpected revival of manufacturing job in Greater Philadelphia during the pandemic.

New Jersey Plans $250 Million Facility for Making Offshore Wind Components

New Jersey Gov. Phil Murphy believes that the new facility will help to rebuild a smarter and more resilient economy for the post-COVID world.

2020 in Review: Greater Philadelphia Industrial Market Stays Red Hot during Pandemic

The addition of several new developments will add millions of square feet to the region’s real estate market, which has become an economic driver in the tri-state area, as well as thousands of new jobs.

DuPont to Sell Chestnut Run Labs to Pennsylvania developer

The privately held, regional real estate firm is set to acquire 800,000 square feet in about 13 laboratories for redevelopment into “Delaware’s premier innovation destination.”

Cold Storage Is Heating up with Local Developers and Investors

The cold storage market in Southeastern Pennsylvania and Southern New Jersey continues to grow despite the pandemic, with a total of 15.8 million square feet of facility space being used, according to Colliers International data.

Available Warehouse, Logistics Space in New Jersey Hits Record Low as Calendar Turns

New Jersey’s industrial market continues to be the brightest spot across all sectors in commercial real estate, with low interest rates and federal stimulus dollars expected to continue supporting demand for warehousing space.

Fairmount Schuykill

STORIES FROM OUR REGION – December 2020

Amazon to expand cloud computing services in Philadelphia in 2021

E-commerce giant Amazon.com Inc. is stretching its reach even further into providing cloud computing services, and the Philadelphia area will play a role in the company’s technology expansion plans.

Saudi company pays $225M for majority stake in Blue Bell’s Arborcrest Corporate Campus

The massive acquisition is part of Sidra’s focus on buying properties that have long-term stability and tenants in the life sciences sector.

New Castle County, DSU partner on $5M COVID test lab

The “next-generation” genomics lab will be used primarily to process COVID-19 tests, leading to faster turnaround times for results and increasing Delaware State University’s research profile.

EDA starts process on Wind Port project with RFQ for construction manager

The New Jersey Wind Port will provide purpose-built infrastructure that supports the Offshore Wind industry’s unique needs, attract millions of dollars in investment, and create thousands of jobs for New Jersey residents.

SEPTA doubles down on commitment to $2B King of Prussia Rail project

SEPTA officials recently gave an update on the Norristown High Speed Line’s proposed extension into the area, which included route changes and updates to its five stations.