The former Nabisco plant at Roosevelt Boulevard and
Woodhaven Roads in Northeast Philadelphia - where cookies and crackers were
baked for decades - has been sold to a partnership for $10.2 million, according
to Richard Gorodesky, senior vice president of commercial real estate services
firm Colliers International.
The buyers of the 27.5-acre site are Provco Group of
Villanova and MCB Real Estate of Baltimore, Gorodesky said. Plans call for
razing the nine-story baking facility and an adjoining two-story structure, he
said.
The nearly 600,000-square-foot facility was owned by
Mondelez International Inc., which operated the site as a baking and
distribution center for Nabisco, Oreo, Cadbury, and other brands.
A one-story portion of the structure covering 130,000
square feet will remain. It currently is leased to Jako Enterprises for light
assembly and distribution.
The building has long been one of the most prominent
commercial structures in the Northeast.
"Not only because of its size, but also because of
the aroma" emanating from the baking plant, Gorodesky said.
The deal closed last week, and is a reflective of a
robust local commercial real estate market, Gorodesky said.
"It's a healthy market in Philadelphia, for good
properties," he said.
Source: Philly.com
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