Evan Zucker & Jimmy Mulvihill Acquires Industrial Portfolio For $84 Million In Pennsylvania And New Jersey

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.