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Philadelphia Commercial Real Estate

1.2M SF BUILT TO SUIT!

It's massive. It involved some of Philly's most prominent CRE pros. And it's full of drugs.
Teva Pharmaceutical Industries just purchased a 140-acre site at the Omni Logistics Center off One Red Lion Road for an undisclosed sum. In turn, the pharma giant will develop a whopper of a project—a 1.2M SF distribution cente r (rendering above) and also will add some 200 jobs to the Philly economy (no better medicine in this environment). Binswanger's co-chair John Binswanger, vice chair Clive Mendelow, and SVP Paul French helped negotiate the monster land sale. John says Teva's decision should be an encouragement that Philly can attract corporations within its borders, given that the drug maker conducted a three-state site search that involved some 50 properties before settling at Omni.

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