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Northeast Philly Site Sold After Being Rezoned To Industrial

The lot at 7777 State Road, recently rezoned to industrial use and sold

Previously zoned for residential use, 7777 State Road in Northeast Philadelphia did not have any interested developers. Now, it may have a profitable future.

Between Interstate 95, the Delaware River and a state prison, the 58-acre site has been recently rezoned as industrial, which it was until 12 years ago, and sold to Morris Iron & Steel Co., a recycling company. Cushman & Wakefield represented the sellers, listed as 7777 State PA Philadelphia Loan Associates LLC. Though a price was not disclosed, city property records value the site at $7.3M for 2017.

A recycling center is a more logical use for the site than a distribution center, since a condition of the rezoning was to bring jobs without increasing traffic. Proximity to I-95 still provides a transportation advantage for a recycling center, and Morris Iron & Steel has promised to improve access to the highway and donate acreage to local groups for a riverwalk.