A bakery and distribution facility occupied by one of Philadelphia’s most iconic food companies has traded hands.
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Prologis sold the Tastykake headquarters at 4300 S. 26th St. in the Philadelphia Navy Yard to Salt Lake City-based Bridge Investment Group for $87M.
A Prologis spokesperson confirmed the transaction, first reported by the Philadelphia Business Journal.
The sale of the roughly 345K SF facility came after Prologis first listed it in September, which is also when Bridge was purchased by asset manager Apollo. A JLL team including John Plower and Ryan Cottone was tapped to market the property.
Tastykake has nine years remaining on its 26-year lease for the build-to-suit space constructed by Liberty Property Trust. Prologis acquired it through a merger with the builder in 2020.
The industrial vacancy rate in greater Philadelphia sat at 11% in Q1 2026, which was stable quarter-over-quarter, according to CBRE.
That rate was 4.4% for manufacturing facilities, which have average triple-net asking rents of $9.62 per SF.
Distribution facilities in the region had a 12.8% vacancy rate in Q1 but a higher average asking rent of $12.70.
Tastykake, part of the broader Tasty Baking Co. conglomerate, was founded in Philadelphia in 1914. It had a longstanding presence in North Philly that ended in 2010.
The company offloaded its former bakery at 2801 Hunting Park Ave. and an office and distribution space at 3413 Fox St. for $6M after moving out.
The listing of Tastykake’s headquarters came after the Korean shipbuilder Hanwha announced plans to invest $5B in the Navy Yard last August. It planned to expand its output at the facility from two ships per year to 20 while doubling its workforce there to about 3,400 employees.
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