East Brunswick-headquartered Greek Real Estate Partners (GREP), operating in a joint partnership with Principal Asset Management®, has closed on the acquisition of a fully improved, pad-ready industrial development site at 805 N. Wilson Avenue in Bristol, Pennsylvania. Simultaneously, the partnership secured $11.84 million in construction financing from TD Bank to jump-start vertical construction on a 100,170-square-foot Class A facility.
The acquisition marks the inaugural joint investment between Greek and Principal under the Principal Green Property Strategy, reinforcing a 40-year collaborative relationship that spans legacy regional projects like the nearby Bristol Industrial Park and the Langhorne Logistics Center. Because the sellers completed extensive site work ahead of closing, the parcel is fully pad-ready, allowing the development team to break ground immediately.
Strategic positioning in a land-constrained market
With industrial demand across the Greater Philadelphia and Southern New Jersey corridor continuing to benefit from e-commerce growth and supply chain realignment, modern midsize spaces remain scarce. According to Newmark Research, the regional pipeline has dipped to a five-year low, with Bucks County carrying fewer than 350,000 square feet under construction during the first quarter.
“Bucks County is one of the hardest places in the region to find land for new industrial development, and a site this size that comes ready to build is rarer still,” Alex Motiuk, director of Investments and Capital Markets for Greek Real Estate Partners, said. “With the site work complete and financing in place, we can move straight to construction and deliver the kind of modern space tenants in this market are looking for.”
Sunil Hanoman, managing director of Asset Management and Development for Principal Asset Management added, “Greater Philadelphia continues to show strong fundamentals, and partnering with an experienced developer like Greek gives us confidence in the project from day one.”
High-performance facility specifications
The upcoming Class A building is engineered to accommodate modern regional distribution, light manufacturing, and logistics users. Key building specifications include:
- Square footage: 100,170 square feet, inclusive of a 2,400-square-foot speculative office.
- Clear height & loading: 36-foot clear heights, 20 loading docks, and two drive-in doors.
- Power & parking: 1,200-amp, three-phase, 480/277V electrical service, alongside dedicated parking stalls for 58 cars and six trailers.
- Sustainability: Slated to achieve two Green Globes designations, reflecting high standards in energy efficiency and environmental performance.
Positioned directly adjacent to the Delaware River Bridge, the location affords immediate access to I-95, the Pennsylvania and New Jersey Turnpikes, and major local corridors, bridging the Philadelphia and Southern New Jersey industrial markets.
Greek Real Estate Partners will oversee development through its vertically integrated platform, utilizing Greek Design|Build as the general contractor. Construction completion is targeted for the first quarter of 2027. Newmark has been retained as the exclusive leasing agent for the property.
