Binswanger Arranges Sale of 305,000 SF Industrial Facility in Northeast Philadelphia to Eagle Cliff Real Estate Partners

PHILADELPHIA, PA – October 9, 2024 – Binswanger, an innovator in commercial real estate since 1931, today announced it has brokered the sale of a 305,000-square-foot industrial/distribution facility on behalf of 5601 Tulip, LLC and Monarch Global Brands, Inc. to the private real estate investment firm, Eagle Cliff Real Estate Partners.

Located at 11350-11400 Norcom Road in Northeast Philadelphia, the unique property sits on 16.8 acres and offers immediate access to key arterial roadways including Roosevelt Boulevard, I-95, I-276, and the Northeast Airport. The building was fully occupied at the time of the sale.

The deal was brokered by Binswanger’s Mid-Atlantic team including, Senior Vice President & Partner, Chris Pennington, Senior Vice President & Partner, Tim Pennington, and Senior Vice President, Matt Corrigan.

“Binswanger’s Mid-Atlantic team was extremely happy with the result of this comprehensive marketing process,” said Chris Pennington. “This sale illustrates a continuing market trend where Northeast Philadelphia industrial properties are highly sought after by institutional buyers looking to capitalize on mark-to-market opportunities in locations with excellent logistic capabilities, increasing rental values, and pent-up tenant demand.”

“Northeast Philadelphia is a dynamic and supply-constrained submarket,” added Peter Friedman, Director of Investments at Eagle Cliff Real Estate Partners. “11350-11400 Norcom Road benefits from a great location with immediate access to major roadways and a deep surrounding labor pool as well as highly functional physical characteristics. This investment is on theme with our broader infill industrial acquisition strategy, and we are excited to add the property to the portfolio.”

This is Eagle Cliff’s largest transaction of 2024 in terms of square footage. Earlier this year, the firm purchased a 192,000-square-foot industrial portfolio in Paterson, NJ, and is currently completing the development of a 108,000-square-foot industrial facility in Holbrook, New York. 

About Binswanger

Binswanger is an employee-owned global commercial real estate firm focusing on highly challenged site acquisition/disposition requirements for major occupiers and assets since 1931. Founded by real estate innovator and pioneer, Frank Binswanger Sr., the company operates with the understanding that real estate can strengthen businesses and transform communities. We pride ourselves on our unique ability to effectively solve the most challenging of real estate complexities with creative solutions in acquisition, disposition, lease-up, valuation, project and facilities management, and finance. For more information, visit www.Binswanger.com.

About Eagle Cliff

Eagle Cliff Real Estate Partners is a private investment firm focused on real estate opportunities across diversified asset classes. Eagle Cliff creates value through collaborative partnerships, thoughtful investment structuring, and undertaking a hands-on approach to operations and development management. Eagle Cliff is owned and controlled by Paul Teti and Giorgios Vlamis and invests capital on behalf of both family offices and institutional partners. For more information, visit www.EagleCliff.com.