Offering 381,200 SF at the Heart of Philadelphia and I-95 Corridor
Crown 95 Logistics Center is at 956 E. Erie Avenue, the near geographic center of the City of Philadelphia. The site is 10 minutes to Center City Philadelphia, and just 15 minutes to the Port of Philadelphia. The superbly located site is 1.5 miles away from the newly improved I-95 Aramingo interchange which offers fluid access to area highways, bridges and ports. Furthermore, the site offers direct public transportation access for its workforce via the SEPTA Bus Route 56 stop on site.
The planned specifications for the project include 36’ clear ceiling heights in approximately 300,000 square feet. Other notable project features include 3.5 acres of secured off-street trailer, van and car parking and prominent branding opportunities on highly trafficked Erie Avenue as well as a lofty position to the general surrounding area via a historic water tower.
Formerly the location of Philadelphia powerhouse manufacturing firms Progress Lighting and Crown Cork and Seal, the area is a historically proven home to corporate occupiers of the Philadelphia region, a direct correlation to the robust location and workforce. Coca Cola, General Electric and Cardone are all closely located. The area is also a growing hotspot for distribution and fulfillment with three Amazon locations and a Fresh Direct distribution center in under 1.5 miles. There is a population of over 2.3 million within 30 minutes and an estimated labor force for logistics of slightly over 1 million.
“We are thrilled to be able to bring this exciting new distribution center to market, especially given its competitive advantages of superb ceiling height, ample off-street trailer parking, and ease of access to I-95. This location has been underserved for many years, and the robust demand for last-mile distribution facilities will be of key importance in our success.” shared Rich Gorodesky of the leasing team.
Court Street Ventures is led by Evan Kleppe who is partnering with Walton Street Capital, a Chicago-based real estate investment firm with gross assets of over $24 billion in the U.S. and abroad.
The Crown 95 Logistics Center is expected to break ground in 2021 and deliver in Q3 of 2022. Project features include an attractive Keystone Opportunity Zone (KOZ) designation offering a variety of lucrative tax incentives through 2028. In addition to Colliers, Court Street Ventures will partner with Bohler Engineering, Langan, KSS Architects and IMC Construction as it brings the project to reality.
View the project brochure here.
For more information:
Richard Gorodesky, Senior Managing Director
+1 215 928 7545 firstname.lastname@example.org
+1 215 928 7510 email@example.com
+1 215 928 7549 firstname.lastname@example.org
+1 215 928 7565 email@example.com
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.