Crow Holdings at I-95 at 14515 McNulty Road in Philadelphia — Courtesy: Crow Holdings Development
By Joshua Burd
Crow Holdings Development has found a tenant for a new 147,000-square-foot industrial project in Philadelphia, inking a full-building lease with a global supply chain firm.
According to a news release, the deal with Martin Brower comes ahead of a planned fall 2025 delivery for the project at 14515 McNulty Road, where it’s now building a mix of warehouse and cold storage space. And it marks a milestone for what Crow Holdings said is a quintessential public-private partnership, noting that it purchased the 14.4-acre redevelopment parcel earlier this year from the Philadelphia economic development corporation known as PIDC.
The developer, whose Montclair-based Northeast team is spearheading the project, added that the site has a 10-year payment in lieu of taxes agreement in place. It’s also part of an established industrial park within a Keystone Opportunity Zone, which provides eligibility for businesses to take advantage of certain state and local tax benefits.
“These factors and our team’s ability to reconfigure the building’s design from traditional industrial to specialized use mid-development were key factors in securing a best-in-class tenant like Martin Brower,” said Crow Holdings Development’s Clark Machemer, a senior managing director. “It was an honor to be entrusted by PIDC to make this key redevelopment project a reality, and we couldn’t be more pleased with the result.”
CBRE’s Jonathan S. Springer, Andrew Green and Mike Barker represented the tenant, described as a global leader in supply chain solutions for the world’s leading brands. Colliers’ Brad Boone and Brian McCurdy represented the developer as the leasing team for Crow Holdings at I-95.
The landlord has begun interior fit-out work for Martin Brower, whose space will include 57,000 square feet of cold storage capacity with cooler, freezer and cold dock components, according to a news release. Other build-to-suit elements include 8,500 square feet of office space and a vehicle maintenance area, while the tenant will benefit from multiple access points via interstates 95 and 276 and Route 1.
“This new distribution center will play an important role in Martin Brower’s U.S. distribution network,” said Kevin Svenkeson, the firm’s U.S. president. “We look forward to becoming part of the community and delivering a positive impact.”
In announcing the deal, Machemer said support for the community is central in all aspects of the project execution. To that end, Crow Holdings executed a plan through the City of Philadelphia’s Office of Economic Opportunity that aims to increase participation of minority-, women- and disabled-owned enterprises in all aspects of development.
“In this benchmark illustration of public-private partnership, Crow Holdings Development has proven to be a thoughtful, considerate developer,” PIDC President Jodie Harris said. “They think creatively on how to increase economic development with their projects and are supportive of PIDC’s mission to drive growth to every corner of Philadelphia. We’re excited to see this project — and the employment opportunities for Philadelphians — come to fruition.”
Philadelphia Commerce Director Alba Martinez added: “Philadelphia continues to be an exceptional place to do business, and the Martin Brower project is another great example of why. We offer competitive sites for modern logistics development, we welcome and support investment, and our large, skilled workforce is ready to help businesses thrive.
“I’d like to thank Crow Holdings as well as PIDC for their pivotal role in making this project a reality, demonstrating the strength of public-private partnerships in driving economic growth and supporting our local community.”
Crow Holdings also provided support to the Philly Tree Fund for plantings in Philadelphia’s urban core, the news release said. Meantime, it expects to plant more than 1,000 new trees on-site at Crow Holdings at I-95, while additional community impact opportunities are in the works.
The firm’s Northeast team, which is also developing at 2900 Grant Ave. in Philadelphia, is adding to a portfolio that includes New Jersey projects such as the recently completed Crow Holdings at Carteret and 25 Market St. in Elmwood Park, part of its roughly 3.5 million square feet of new development in the two states over the past two years.
