Rockefeller Group & PCCP Secures $100.2M Construction Loan For Philadelphia Development Site

The Rockefeller Group and PCCP LLC secured a $100.2 million construction loan for the Rockefeller Group Logistics Center at Roosevelt Boulevard in Northeast Philadelphia. The development site spans 656,904 square feet across 50.4 acres and features two buildings with 36-foot clear heights, offering direct frontage to U.S. Route 1. The project boasts strategic proximity to major transportation hubs and Philadelphia’s Center City District.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $100,200,000
• Address: 15000 Roosevelt Boulevard
• Market: Philadelphia
• Lender: New York Life Real Estate Investors
• Landlord: Daniel J. Moore & Heath Abramsohn - The Rockefeller Group ; PCCP LLC
• Brokers: Aaron Graves, Alex Lapidus, Chuck Kohaut, Jason Blankfein, John Alascio & TJ Sullivan - Cushman & Wakefield
• Loan Type: Construction Loan

The loan for the Rockefeller Group Logistics Center at Roosevelt Boulevard was arranged by a Cushman & Wakefield team, composed of Aaron Graves, Alex Lapidus, Chuck Kohaut, Jason Blankfein, John Alascio, and TJ Sullivan. The development is projected to conclude construction in the second quarter of 2025, enhancing Philadelphia's industrial real estate landscape with modern facilities.