Mitsubishi Electric Trane HVAC Signs 489,000 Square Foot Lease With Kurv Industrial In Philadelphia
2951 Orthodox Street
Building Size
489,000 SF
Asset Type
Industrial
Closing
Jul 22, 2026
AI
The property involved in this transaction is an industrial asset located at 2951 Orthodox Street in Philadelphia, PA. The total square footage of the leased space is 489,000, situated within an 890,000-square-foot industrial complex that was completed in 2023. Additionally, there remain over 250,000 square feet available for lease in the larger building.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 2951 Orthodox Street
- Market: Philadelphia, PA
- Landlord: Kurv Industrial
- Tenant: Mitsubishi Electric Trane HVAC
This lease agreement was signed by Mitsubishi Electric Trane HVAC, marking a significant step for the company in establishing its presence in the industrial sector. Kurv Industrial represents the landlord in this transaction, overseeing the leasing details for their extensive industrial complex.
Players
Philadelphia 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