Development Component

• Proposed site plan includes a 100,100 square foot industrial development with +/- 25 dock doors, 180’ truck court and abundant car parking.
• There are no industrial properties over 25,000 square feet with 26-foot or higher ceiling heights exist within a three-mile radius (per CoStar Analytics).
• New industrial buildings with 30-foot+ ceiling heights can command $16.00 per square foot (NNN).
• Nearby industrial development sites have sold for $70–$90 per FAR.

In-Place Income

• The property is currently 43.8% occupied to two tenants.
• The existing leases will generate $1.8 million in rental and reimbursement income, covering all property operating expenses through the end of current leases.

Location

• Situated in a high-demand residential market, One Progress Drive is located 1.8 miles from Route 611 and 2.8 miles from the Willow Grove Interchange of the Pennsylvania Turnpike, providing convenient access to Philadelphia, New York City, Baltimore, and Washington D.C.
• Within five miles of the property, there are 74,860 households with a median household income of $129,583 and cumulative consumer spending of over $2.9 billion.
• Premier accessibility and I-1 Industrial zoning make the site ideal for long-term redevelopment.