The Seyon Group Update 02/21/24

Seyon Acquires 62,441 SF Light Industrial Building in Philadelphia

The Seyon Group (“Seyon”) announced the acquisition of 9001 Torresdale Avenue in Philadelphia, PA (the “Property”). This strategic transaction expands Seyon’s portfolio in the Greater Philadelphia market, which now encompasses 11 properties totaling approximately 780,000 SF.

Strategically located within the Northeast Philadelphia submarket, which boasts a vacancy rate of just 0.8%, the Property offers convenient access to a population base of 4 million people within a 20-mile radius. Its proximity to Interstate-95 facilitates efficient connectivity to Philadelphia International Airport and major northeast markets such as New York City (82 miles) and Washington, D.C. (148 miles).

9001 Torresdale Avenue contains 62,441 square feet of high-quality light industrial space and R&D/lab space. The seller was a generic drug manufacturer that invested over $3 million into the asset since 2004. The Property features clear heights of 17’ to 20’, 6 dock doors, climate control, 2,000 amps of power, 90 parking spaces, labs, and clean rooms. With the building delivered vacant at closing, Seyon will embark on a repositioning program to convert the building back to traditional light industrial space.

“We are pleased to acquire 9001 Torresdale and establish a presence within the highly infill Northeast Philadelphia submarket,” shared Austin Devine, Vice President at Seyon. “Considering the Property’s prime location, exceptional features, and upcoming capital plan, 9001 Torresdale Ave will be well positioned to attract significant interest from prospective tenants.”

Jones Lang LaSalle represented the seller in this transaction.

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