Southern Land Co. has closed on buying 1620 Sansom St. in the Rittenhouse Square neighborhood of Philadelphia for $24.5 million, clearing the way for the real estate company’s next project.

An entity affiliated with Bridge Funding of New York and Ravi Chawla, a Philadelphia real estate investor, sold the property that runs from 1608-1634 Sansom St. Ken Wellar of Rittenhouse Realty Advisors arranged the transaction.

The site totals 18,816 square feet and a garage with some retail space sits on the property. It last traded in November 2004 for $6.7 million, according to Philadelphia property records.

Nashville, Tennessee-based Southern Land has approvals for a proposed $200 million, 28-story tower on the site that will have 308 apartments, 32,000 square feet of commercial space and a parking garage. Demolition of the garage is expected this spring with construction to begin by the fall, said Brian Emmons of Southern Land. The development’s completion is projected for 2023.

Southern Land has another project underway on Rittenhouse Square. In 2015, it paid $30 million for a 14,280-square-foot site at 1911 Walnut St. and embarked on the Laurel. The $300 million development will have a mix of condominiums and apartments and 43,000 square feet of retail space.

A 9,000-square-foot penthouse in the project is being marketed for $25 million.

*Article Courtesy of Philadelphia Business Journal

For more information about Philadelphia land sites for sale or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier  Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia land sites for sale through our Philadelphia commercial real estate brokerage firm.

Baldor Specialty Foods, a New York-based wholesale distributor of meat, poultry, produce and other comestibles, bought 13 acres in Northeast Philadelphia and will invest $40 million to develop a new cold storage facility.

The development is part of the Bronx company’s expansion into Philadelphia and will use the location to grow its business within a roughly 100-mile radius of the city. Baldor will venture to Atlantic City and the Shore, the Poconos, and areas west of the metropolitan area.

“We will be slowly building the business out,” said Glenn Messinger, vice president of branch operations for Baldor.

The company, which preferred to own its own property rather than lease, looked at sites in South Jersey, Philadelphia and its western suburbs when it was considering where to build. It wanted a location that had good access to its clients, which include restaurants, universities, grocery stores including Whole Foods, and, with the onset of the pandemic, home delivery of groceries. It also needed to be near freight and preferred a site designated as a Federal Opportunity Zone.

The company found what it wanted at 7071 Milnor St. and paid $10 million for the land, which is in an opportunity zone. It will build a 224,000-square-foot warehouse-distribution center on the property.

Baldor’s expansion into Philadelphia also continues a growing trend in which New York companies have been increasingly leasing or buying warehouse-distribution buildings in Philadelphia.

New York companies entering the market are finding the cost of real estate and labor attractive as well as the availability of workers. That influenced Baldor’s decision as well.

“We thought the cost of business was less in Center City than in South Jersey,” Messinger said. “Pennsylvania has a favorable labor rate and, as we look toward the future, it will reduce the cost of business and improve our carbon footprint.”

The Philadelphia facility is expected to employ 120 people. Baldor will start out with 30 trucks operating and making deliveries out of the new site. Messinger estimates that will grow to 100 and maybe 150 trucks over time. The building is expected to be completed by October 2021.

*Article Courtesy of Philadelphia Business Journal

For more information about Philadelphia land sites for sale or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier  Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia land sites for sale through our Philadelphia commercial real estate brokerage firm.

Wolf Commercial Real Estate, the leading Philadelphia commercial real estate brokerage firm, is your number one source for commercial Philly land sites.  As part of our full range of Philadelphia commercial real estate services, we represent a number of undeveloped Philly commercial land sites for sale.

There are numerous Philly land sites both inside the city and in the suburban counties that are zoned for commercial, retail, and mixed use and are available for development.  Prices for Philadelphia land sites are very reasonable right now and landowners and developers are actively looking for new property investments. If you are interested in Philadelphia land for sale, then look no further than Wolf Commercial Real Estate (WCRE), a Philly commercial real estate broker that specializes in Philly commercial real estate listings and commercial properties.

Whether you are a landowner with Philadelphia commercial land for sale or a developer or investor looking for opportunities to purchase Philadelphia land sites, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need.  We are experts in Philadelphia commercial real estate services, matching buyers with sellers and owners with tenants locally and throughout the United States.

Trust Wolf CRE for Commercial Philly Land Sites

The team at our Philly commercial real estate brokerage firm provides ongoing detailed information about Philly land sites for sale to our clients and prospects to help them achieve their real estate goals.  At Wolf Commercial Real Estate (WCRE), our Philadelphia commercial real estate services encompass the highest quality of service, proven expertise, and a total commitment to client-focused relationships.

For developers and investors seeking Philly commercial land parcels for sale, Wolf Commercial Real Estate can help you find the property that best suits your needs.  Our Philly commercial real estate brokerage firm has the people, the power and the connections to get you the right Philly commercial land sites at the right price.

The professionals at our Philly commercial real estate brokerage firm ensures that the sale or lease terms work hand in hand with your commercial real estate goals.  We work with landowners, land developers and municipalities to make sure that the Philadelphia commercial land for sale is properly permitted, zoned and represented.  At Wolf Commercial Real Estate, we partner with our clients from start to finish in order to facilitate a smooth transition.

For Philly landowners looking to sell commercial land parcels of Philly land sites, Wolf Commercial Real Estate has developed a defined marketing process that we tailor to each property and sub-market.  Our proven marketing strategy works effectively to efficiently match buyers with available Philadelphia land parcels for sale.

Wolf Commercial Real Estate, a leading Philadelphia commercial real estate brokerage firm, currently has several Philadelphia commercial land sites for sale. Don’t miss your opportunity to secure the ideal Philadelphia land for sale at competitive prices.  For more information, please contact Jason Wolf (215-588-8800; jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a Philadelphia commercial real estate broker that specializes in Philly commercial real estate listings.

About Us

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philly commercial real estate broker that provides a full range of Philly commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philly commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of Philly commercial properties for sale or lease through our Philly commercial real estate brokerage firm.

Please click the links below for listings of available Philly Commercial Real Estate

 Click Here for Philadelphia Listings

 Click Here for Southeastern Pennsylvania Listings