PHILADELPHIA, PA — DH Property Holdings, LLC, a New York-based firm led by Dov Hertz, has secured a $53.8 million construction loan for the development of the PhilaPort Logistics Center. This 282,250-square-foot warehouse and distribution center aims to enhance last-mile logistics.
Situated at 3060 South 61st Street in Philadelphia, the site is strategically located just 2.9 miles from the Philadelphia International Airport, 3.8 miles from Center City, and 6 miles from the Packer Avenue Marine Terminal. The prime location is expected to attract significant interest from logistics tenants.
Walker & Dunlop’s New York Capital Markets team, comprising Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, and Michael Ianno, arranged the financing, which was provided by ACORE Capital.
“The Project was designed with a laser focus on functionality and best-in-class specs and features,” said Hertz. He believes the evolving Class A industrial development market will lead to a “flight to quality” from credit tenants, emphasizing the importance of site design, location, and access.
PhilaPort Logistics Center, located on a 15-acre plot, will feature a rear-load configuration, 40-foot clear heights, 330-foot building depth, 135-foot truck court depth, 50 exterior dock doors, two drive-in doors, 72 trailer parking stalls, and 187 car parking stalls. Additionally, the center will include approximately 5,000 square feet of speculative office space.
ACORE Capital’s Kory Klebanoff, Managing Director and Co-Head of Eastern Region Originations, expressed excitement about the project. “We are excited to kick off a relationship with DHPH on what will be a fantastic project in an infill location with all the modern specs tenants are seeking in today’s environment,” he said.
Construction began in July 2024, with the project slated for completion in the third quarter of 2025. Chris Pennington from Binswanger and Jonas Skovdal from Cushman & Wakefield will spearhead the leasing efforts for the site.
With the PhilaPort Logistics Center, DH Property Holdings aims to set a new standard in logistics and distribution, leveraging its strategic location and state-of-the-art facilities to meet the needs of modern tenants.
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