Logistics Property Co. Secures 937,000 Square Foot Warehouse Lease At South Penn Logistics Center
2300 South Pennsylvania Avenue
Building Size
937,000 SF
Asset Type
Industrial
Closing
Mar 4, 2026
AI
The transaction involves an industrial asset located at 2300 South Pennsylvania Avenue in Morrisville, PA. This warehouse spans 937,000 square feet, having been delivered in 2025. The building was developed by FCL Builders and is part of the South Penn Logistics Center.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Square Footage: 937,000
- Address: 2300 South Pennsylvania Avenue
- Market: Morrisville, PA
- Landlord: Logistics Property Co.
- Brokers: John Gartland, Chris Butera, Kevin Hagenberg, Gerry Blinebury & Jonas Skovdal - Cushman & Wakefield
Logistics Property Co. secured the lease for the warehouse at the South Penn Logistics Center, although the identity of the tenant remains undisclosed. The lease was facilitated with the assistance of brokers John Gartland, Chris Butera, and Kevin Hagenberg.
Players
Morrisville Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93