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Real Estate Bisnow
The largest commercial real estate publication in the United States.
   
January 12, 2012 
 
 
DEAL CLEANS UP
PENN TOWNSHIP

 
Penn Township is about to see a lot more shampoo and soap in the near future. (So no more excuses from local kids who try to get out of taking baths.) That's because Unilever is about to do something big there.
 
Suave Shampoo
This deal is quite welcome, since we're about to run out of our favorite Suave Pomegranate Splash shampoo. Yes, made by Unilever. Sources tell us that company is expected to build a 1.4M SF distribution center in Penn Township in a deal that had previously been known as “Project Infinity.” (Back when it thought it was building a spaceship.) Panattoni Development Co has been tapped to do the project, but little info is available as of now. We'll keep you posted.

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ACTIVITY UP IN I-81 CORRIDOR
3200 GREEN FOREST AVE buena vista leland group hdt global dan dilella bpg
We're going to take you southwest towards I-81, chatting with BPG Properties? Dan DiLella Jr. yesterday about the world of Mid-Atlantic industrial. His firm has done a bunch of deals in the VA-WV-PA corridor this past year, including this big lease: PlyGem Industries' 360k SF renewal and expansion at BPG's Harrisonburg, Va. warehouse at 4501 Early Rd along I-81. Dan also tells us he got HDT Global to consolidate and lease 173K SF at 3200 Green Forest Av in Buena Vista, Va. (both deals were brokered by the Leland Group). BPG’s Frederick County, Va. site is also seeing build-to-suit activity, accommodating up to 750k SF. “We're seeing good activity along the corridor,” he says, “particularly with Internet retailers, which are increasing logistical demands as online sales increase.”

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SEEFRIED VYING FOR AMAZON.COM
 
Speaking of Internet retailers, the king daddy of them all is scouting not one but two sites just over the border in Virginia. And an Atlanta-based industrial developer may have the inside track. Sources tell us that Amazon.com is seeking two major distribution hubs there. Previous news reports indicate they will be in Chesterfield and Dinwiddie counties. Sources say Seefried Properties—which has developed warehouses for Amazon in Tennessee—is a contender for the job. We reached out to Seefried's founder Ferdinand Seefried (seen above at a recent Bisnow event), but he was unavailable for comment.

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PHILLY'S BIGGEST LEASES IN '11
 

So, who takes the title for largest office lease in Philly last year? That would be Endo Pharmaceuticals, which is building a 300k SF facility at 1400 Atwater Drive in Malvern (above). JLL research guru Jennifer Lamprecht (whose firm repped Endo) provided us with the rest of the top 10:

  • CHOP: 252k SF, The Wanamaker Building
  • GlaxoSmithKline: 205k SF, Navy Yard
  • GlaxoSmithKline: 197k SF, 2301 Renaissance Blvd, King of Prussia
  • Janney Montgomery Scott: 146k SF lease, Three Logan
  • Siemens: 145k SF, 1201 Sumneytown Pike, Horsham
  • Marshall Dennehey: 131k SF, 2000 Market St
  • Philadelphia Media Network: 125k SF, 801 Market St
  • Animas: 120k SF, 965 Chesterbrook Blvd, Wayne
  • Reed Smith: 115k SF, Three Logan

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AS PISCOPO SEES IT
 
boma union league philadelphia francis iacobucci properties erica masusock peco ed piscopo datawatch systems jack butler contemporary realty joanne kennedy
Our spies attended this week's BOMA luncheon at Union League Philadelphia, where we got a pic of Francis Iacobucci Properties founder Francis Iacobucci and Erica Masusock, PECO's Ed Piscopo, DataWatch Systems' Jack Butler, and Contemporary Realty Corp's Joanne Kennedy. Ed says he's pretty optimistic on the region's economic growth for 2012. “There's a lot of positive news that's in the market. When you add it all together, this region does pretty well,” he says. Financing is still difficult, but companies are growing, taking space and adding jobs. “I think that everybody can see the light at the end of the tunnel.”
 
How's your 2012 looking? Let us know at Jarred.Schenke@Bisnow.com.
 
 
 
 
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