Updated Jul 31, 2026
Evan Zucker & Jimmy Mulvihill Acquires Industrial Portfolio For $84 Million In Pennsylvania And New Jersey
7 Chelsea Parkway & 824 East Gate Drive
$84,000,000
$171/SF
Building Size
488,936 SF
Asset Type
Industrial
Closing
Jul 30, 2026
About this deal
AI
An eight-building industrial portfolio was acquired for a total of $84,000,000. The properties encompass 488,936 square feet and are located at 1, 3, 5, 7 Chelsea Parkway, 1 Judy Way, 780 Primos Avenue, 741 Fifth Avenue & 824 East Gate Drive, situated across Boothwyn, PA, and Mount Laurel, NJ. The properties have an average price per square foot of $172 and are 89.6% leased, including locations in Delaware, Montgomery, and Burlington counties.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $84,000,000
- Buyer: Evan Zucker & Jimmy Mulvihill - Speed Bay Warehouse Solutions
- Seller: Seyon Group & Berkeley Partners
- Total Square Footage: 488,936
- Price Per Square Foot: $172
This transaction marks Speed Bay Warehouse Solutions' first entry into the Philadelphia market, indicating a strategic expansion for the Denver-based firm into the region's industrial real estate sector.
Players
Marcus Hook Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93