Rockefeller Group and PCCP have partnered to acquire the 50-acre former site of Byberry State Hospital for $44.8 million, writes Paul Schwedelson for the Philadelphia Business Journal. 

The firms are planning to build two warehouses at the Northeast Philadelphia site, which will total 656,904 square feet — a 338,208-square-foot building and a 318,696-square-foot building.

The property was sold by the Philadelphia Authority for Industrial Development, a subsidiary of the Philadelphia Industrial Development Corporation (PIDC). 

According to PIDC President Jodie Harris, it has been trying to get the site redeveloped for 20 years.

This marks Rockefeller Group’s first industrial project in Philadelphia.

“[Philadelphia is] a market that has been historically overlooked,” said Heath Abramsohn, Rockefeller Group New Jersey/Pennsylvania Regional Director, in a press release. “This infill market currently has older industrial products and is in need of new, Class A industrial space.”

For PCCP, managing director Ryan Dodge, said it’s an attractive opportunity to partner with Rockefeller Group “to develop a shovel-ready, fully approved project within the core, Philadelphia industrial submarket.”

Read more about what’s in store for the former site of Byberry State Hospital at the Philadelphia Business Journal.

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