JLL closes $8.75M sale of Philadelphia light industrial building

JLL Capital Markets said Thursday it closed the $8.75 million sale of an 86,315-square-foot light industrial building in a high barriers-to-entry market in Philadelphia.

JLL marketed the property on behalf of the seller, The Hampshire Cos. Mountain Development Corp. purchased the asset.

The building is home to Ferguson Enterprises, the largest U.S. distributor of plumbing supplies.

3445 S. Front St., Philadelphia, PA. – JLL

Situated on 5.7 acres at 3445-3535 S. Front St., the facility is in a last-mile distribution area in south Philadelphia next to Interstate 95 and less than 1 mile from Interstate 76.

The property features a rear load configuration, clear heights ranging from 18 to 44 feet, 14 loading docks and 10 percent office finish.

The JLL Industrial Capital Markets team representing the seller was led by Senior Director Michael Oliver, Senior Managing Director Jose Cruz, Directors Jordan Avanzato and Marc Duval, Senior Managing Director John Plower and Senior Vice President Jenna Imperatore.

“The Mountain Development team did an incredible job closing on this transaction during a difficult time in the market,” Oliver said. “This shows you there are strong buyers for quality real estate and tenancy today”.