Asbury, New Jersey-based J.G. Petrucci Co. in collaboration with Boston-based Cabot Properties, has begun constructing a 320,250-square-foot warehouse in Bensalem, writes Paul Schwedelson for the Philadelphia Business Journal.
Located at 4626 Somerton Road off Route 1, this new warehouse aims to attract single-tenant occupancy.
This development follows J.G. Petrucci’s recent $8.6 million acquisition of an industrial building at 717 Callowhill St. in Philadelphia, currently leased by Grainger Industrial Supply. The company plans to maintain the building as is, benefiting from its prime location near the Vine Street Expressway and Benjamin Franklin Bridge.
The Bensalem warehouse, featuring 36-foot clear height, 55 tailgate doors, two drive-in bays, and ample parking, is slated for completion by the end of 2024.
JLL is handling construction financing and leasing, while Iron Hill Construction Management, J.G. Petrucci’s in-house firm, oversees the project.
Read more about the plans for the Bensalem warehouse in the Philadelphia Business Journal.
320,250 SF CLASS ‘A’ WAREHOUSE – 4626 Somerton Road
