Cleveland-Cliffs, Conshohocken’s former steel mill, is up for grabs and drawing a lot of attention, writes Paul Schwedelson for Philadelphia Business Journal.
The riverfront property has tapped real estate brokerage Binswanger to sell the idled 66-acre plant tucked between I-76 and the Blue Route. Though currently zoned for industrial use, the site could transform into nearly anything. With on-site power, rail access,water infrastructure, and fiber connectivity, the property checks a lot of boxes for high-tech and manufacturing developers.
“It’s a once-in-a-generation opportunity,” said Binswanger’s Chris Pennington, noting intense early interest. A sealed-bid process is underway, and Pennington expects multiple strong offers soon.
Cleveland-Cliffs fully idled the plant earlier this year to stem financial losses, saving the company an estimated $45 million annually. Now, with developers eyeing everything from logistics facilities to multifamily housing, the site’s future could reshape this stretch of the Schuylkill River.
“It’s a wonderful palette to paint a picture on from the standpoint of a revitalization of 66 acres in Conshohocken,” Pennington added.
Learn more about the bidding war underway for Conshohocken’s former Cleveland-Cliffs steel mill in the Philadelphia Business Journal.
