A joint venture between KPR Centers and PCCP secured $70 million in bridge financing for the Tri-State Distribution Center, a newly delivered 525,000-square-foot class A industrial warehouse located at 401 Naamans Road in Claymont, Del.
The property represents a successful conversion from retail to industrial use, as the sponsors acquired the former 588,000-square-foot Tri-State Mall site in June 2021 and obtained zoning entitlements to develop the industrial warehouse. The state-of-the-art distribution facility features 40-foot clear heights, 97 dock doors, four drive-in doors and 114 trailer spaces positioned on a 36.4-acre site with immediate access to Interstate 95.
Positioned adjacent to I-95, with connectivity to I-495 and the Commodore Barry Bridge, the distribution center provides access to more than 1.3 million consumers within 30 minutes and nearly 6.1 million people within a 60-minute drive. The location offers direct routes to the Philadelphia and Wilmingto
