Transactions - JUNE 29, 2020

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Hilco Redevelopment Partners pays $225m for 1,300-acre refinery site in Philadelphia

by Released

Hilco Redevelopment Partners has paid $225.5 million for the 1,300-acre former Philadelphia Energy Solutions (PES) refinery in Southwest Philadelphia. The deal is a giant step toward building an environmentally responsible and economically robust commercial hub in Southwest Philadelphia.

For more than 150 years, the PES refinery stood as a symbol of the Industrial Revolution and helped to grow Philadelphia, with all the attendant environmental concerns that were byproducts of that era. Under new ownership led by HRP, a fresh vision for the industrial site will be realized, resulting in one of the largest and most strategically significant multi-modal logistics hubs in the country that leverages the site’s unparalleled infrastructure and location.

“Our plan is to transform the site into a commercial hub to be shared by dozens of world-class companies that will benefit from Philadelphia’s diverse workforce and strategic location with an environmentally responsible

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