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Colliers Brokers Sale of Two Contiguous Industrial Buildings in Northeast Philadelphia

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Purchaser Brickman builds strong area presence and connectivity between assets

PHILADELPHIA, PA  March 21, 2022 – The Colliers team of Richard Gorodesky, SIOR and Adam Gorodesky, are pleased to announce the sale of two Philadelphia industrial facilities in an off-market transaction.

11500 Roosevelt Boulevard, consisting of 298,627 +/- square feet situated on 12.88+/- acres, was originally constructed in 1965, with several additions being added in the subsequent years. It was purchased by Wolf Investment Corp in 1999, and was mostly vacant at that time, in a transaction also arranged by Colliers. Undergoing numerous improvements over the succeeding years, the property ultimately achieved 100% occupancy with 17 different tenants. Zoned I-2 Medium Industrial, this multi-tenant building features 23 tailgate loading docks, 6 drive-in doors, has mostly 16’ clear height, and offers the ability for cars and trucks to circumnavigate the entire building.

1771 Tomlinson Road consists of 207,500 +/- SF situated on 15.25 +/- acres. The building was also constructed in 1965, and was once home to Fisher Auto Parts, a distributor of commercial truck parts. In a transaction also brokered by Colliers, the Wolf Investment Corp. purchased this property in 1998. Acquiring it as a multi-tenant property, the Wolf’s further divided the tenant spaces and increased occupancy to 100 % with 19 distinct tenants.

The buyer was an investment group, initiated and led by Greenwich CT-based Brickman, who is also a partner in the group which had recently purchased 11200 Roosevelt Blvd, a 454,353 square foot multi-tenant mostly industrial property situated on 26.3 acres, which is partly contiguous to each of the aforementioned properties.   By joining these three industrial properties together, they will enjoy access synergies that were not previously available between them.   

The 1771 Tomlinson and 11500 Roosevelt acquisitions bring the total space under Brickman control to 960,480 square feet on 54.43 acres in Northeast Philadelphia.

The new owner plans to continue improving the buildings, and operating them as multi-tenant industrial facilities, ultimately with improved access and circulation from Roosevelt Boulevard and Tomlinson Road.

 

For more information:
Richard Gorodesky SIOR, Senior Managing Director
+1 215 460 5857 richard.gorodesky@colliers.com
 
Adam Gorodesky, Senior Associate

 

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About Colliers International

Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn

 

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Richard Gorodesky

Senior Managing Director | Philadelphia

Philadelphia

Richard joined Colliers in 1995 after originally starting in commercial real estate in 1988. He is primarily responsible for the firm's industrial brokerage activity in the City of Philadelphia, but also works with clients throughout the eight-county metropolitan region and throughout the United States.

Drawing on his extensive business experience as a former Chief Financial Officer and venture capitalist, Richard is well established in the Philadelphia business community. He has frequently been invited to present in front of the Philadelphia City Council, concerning the attraction and retention of industrial business in the city, and continues to maintain strong relationships with numerous public officials, including the Philadelphia Industrial Development Corporation, The Commerce Department and several past and current members of the Philadelphia City Council.

Clients of Richard frequently speak about his professionalism and experience in handling difficult properties and complex transactions.

Richard sold one of the largest industrial properties in the country: The BUDD Company's 2.7 million square foot complex on 75+/- acres. He has also sold the largest industrial land site in Philadelphia (138 acres), twice.

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Adam Gorodesky

Senior Associate

Philadelphia

Adam joined Colliers in 2020 and is focused on selling and leasing industrial real estate in Philadelphia, serving his clients by using the Colliers regional and national platform. As a Certified Public Accountant, Adam is uniquely qualified to deliver trusted guidance to his clients. 

Previously, Adam was with Alterra Property Group in Philadelphia where he focused industrial, multifamily, and mixed-use properties, giving him a deep understanding of financial performance factors in a variety of commercial real estate sub-markets and product types. Prior to Alterra, he spent several years as a senior auditor with the Philadelphia office of the big four accounting firm KPMG, specializing in the Power & Utilities sector, auditing industrial clients and Fortune 500 companies. 

Adam is Argus Enterprise certified in addition to having strong real estate financial modeling and analytical skills in Excel.

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