A warehouse distribution center in Upper Merion that was built on speculation has found its tenant in Target Corp., writes Natalie Kostelni for the Philadelphia Business Journal.
The 331,428-square-foot structure is being constructed by Novaya Foxfield Industrial, an affiliate of Novaya Real Estate Ventures, at 900 River Road. It is expected to be finished before the end of the year.
Target has been expanding its distribution presence in the Philadelphia region.
This includes recently leasing a 1.1-million-square-foot building at Logan North Industrial Park in Logan, New Jersey, which is over the Commodore Barry Bridge in a wide-open space.
The Upper Merion distribution center is being constructed on the property that was once home to the Johnson Matthey Inc. chemical plant. Novaya Foxfield Industrial acquired the property for $8.8 million and razed several existing buildings to make room for the King of Prussia Logistics Hub.
The location of the warehouse distribution center means it is near major highways such as the Blue Route, Schuylkill Expressway, Pennsylvania Turnpike, and the Northeast Extension, as well as other regional arteries such as Route 202.
The building is also close to several of the region’s population centers like Fedex at River Road.
Read more about the new warehouse distribution center in the Philadelphia Business Journal.
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