Beverage manufacturer DrinkPAK plans to invest $195M in a 1.4M SF build-to-suit facility it will lease in South Philadelphia’s Bellwether District.
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It will serve as the California-based DrinkPAK’s flagship East Coast facility and is expected to create 174 jobs over the next three years, according to a press release from Pennsylvania Gov. Josh Shapiro’s office.
The state’s Department of Community and Economic Development provided a $2M grant to help entice DrinkPAK. Its upcoming facility is located in a Keystone Opportunity Zone, which means the company could be eligible for other tax benefits.
“My Administration competed aggressively against other states to secure this major investment,” Shapiro said in a statement.
The Bellwether District beat out 40 other sites that DrinkPAK was considering, the Philadelphia Business Journal reported.
The complex sits on a 1,300-acre site that previously housed an oil refinery that exploded in 2019. Chicago-based HRP Group began construction on the new industrial and innovation park in 2023.
SALES
The fully leased Phoenixville Shopping Center at 785 Starr St. in Chester County has traded for $7.35M. A Marcus & Millichap team including Scott Woodard and Derrick Dougherty represented the seller, a Pennsylvania-based private investor. A spokesperson for the brokerage declined to reveal the new or previous owner.
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Bridge33 Capital has purchased a 761K SF grocery-anchored shopping center in Princeton from SITE Centers Corp. for an undisclosed amount. Nassau Park Pavilion’s tenants include Wegmans, Target and Home Depot.
A CBRE team including Chris Munley, Colin Behr, Ryan Sciullo and Casey Benson Smith represented the seller.
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The Brown family, which owns a dozen ShopRite locations, has spent $30.8M on a Northeast Philadelphia shopping center anchored by one of its stores, The Philadelphia Inquirer reported. JLL represented the previous owner of the Shoppes at Wissinoming.
CONSTRUCTION AND DEVELOPMENT
Hanover Co. has broken ground on its Locust Point Industrial Park project in York, which will include 700K SF across two buildings on I-83. The project is being carried out through a partnership with Crow Holdings Capital and J.P. Morgan and is expected to deliver in Q1 2027.
