The bakery fueling one of Philadelphia’s most iconic food companies has hit the market. No asking price has been shared, but it should be a sweet deal regardless.
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Prologis is selling the 345K SF Navy Yard facility occupied by the snack brand Tastykake, the Philadelphia Business Journal reported.
The build-to-suit facility at 4300 S. 26th St. was constructed in 2009. It serves as the Tastykake parent company Tasty Baking Co.’s main bakery and distribution center. The company still has a decade left on its 26-year lease.
JLL’s John Plower and Ryan Cottone are marking the site. Tastykake, which makes a wide array of pastries, including everything from krimpets to honey buns, was founded in Philadelphia in 1914.
For decades it was headquartered in North Philly. The company sold its former bakery at 2801 Hunting Park Ave. and an office/distribution space at 3413 Fox St. for $6M around the time of its relocation.
The listing of the company’s current home base is far from the only action happening at the Navy Yard.
South Korean shipbuilder Hanwha committed to investing $5B in its facility in the complex that President Lee Jae Myung visited last month. This was up from a previous $70M investment announced in May.
Korman Communities is also behind 614 units across two new residential projects under construction at the Navy Yard.
CORRECTION, SEPT. 23, 4:36 P.M. ET: A previous version of this story included incorrect information about the status of the Korman Communities projects. It has since been updated.
