Malvern-based E. Kahn Development has bought a 15.7-acre undeveloped property in West Whiteland Township, where it plans to build roughly 150,000 square feet of industrial space, writes Paul Schwedelson for the Philadelphia Business Journal.

The developer purchased the site for $3.1 million from Johnson Matthey, a specialty chemicals and sustainable technologies company. The seller also owns the adjacent parcel with an industrial building.

While the design of the industrial space has yet to be decided, President Eli Kahn estimated that the total project development costs will be between $25 million and $30 million.

The property’s location off Route 202 and close to Route 30 were the main draws for Kahn in deciding to purchase the parcel.

“There’s just not a lot of industrial land left,” he said. “Just laws of supply and demand for me, really. There remains to be good industrial activity, especially tenants in the 10,000- to 50,000-square-foot range.”

Khan plans to present the proposed design for the industrial space to West Whiteland Township by the middle of the year to get the necessary approvals.

Read more about Eli Kahn purchasing the space in West Whiteland Township in the Philadelphia Business Journal.