Greek Development has paid $31.5 million for a 305,706-square-foot warehouse facility at an urban, last-mile location in Philadelphia. JLL Capital Markets marketed the properties on behalf of the seller, 2121 Wheatsheaf Lane LLC.
“This is an irreplaceable last-mile location with highly functional distribution space and ample parking,” said Alex Motiuk, Greek Development’s associate director of acquisitions. “We are excited to add this property to our presence in Philadelphia and bring it to its full potential.”
The facility is situated on 21.25 acres at 2121 Wheatsheaf Lane at the base of the Betsy Ross Bridge in an irreplaceable location along the Interstate 95 corridor, which provides immediate accessibility to both the Philadelphia MSA and the New Jersey Turnpike. Only five miles from Center City Philadelphia, the mission-critical location provides access to nearly 2 million people within a 25-minute drive. In addition, this infill area has limited remaini
