Oct 30, 2020
Modlo announces acquisition of last-mile facility in Philadelphia, PA
Nov 06, 2020
Modlo is pleased to announce that an affiliate recently acquired 2400 Weccacoe Avenue in Philadelphia, Pennsylvania. The 284,000 square foot last-mile distribution facility is strategically located with excellent access to I-95, I-76, the Walt Whitman Bridge and Philadelphia International Airport. The property’s infill location makes it well suited to serve the residential population in the city of Philadelphia and surrounding areas. 2400 Weccacoe Avenue is fully leased to an e-commerce retailer on a long-term basis.
“This is another important addition to Modlo’s portfolio,” said Oscar Wong, Senior Vice President of Acquisitions. “We are keenly interested in properties that have irreplaceable features. This class A infill property was recently renovated, includes extensive on-site truck and van parking, and offers unmatched connectivity to the region. As we continue to conceptualize the future growth of e-commerce, this acquisition is a strong example of assets we’re excited to own.”