A major milestone in Philadelphia has been reached: the completion of a cutting-edge last-mile distribution center at 5000 Richmond.
Spearheaded by Dov Hertz’s DH Property Holdings, LLC (DHPH), the project brings nearly 760,000 square feet of industrial space to one of the most strategic locations in the region.
Notably, the eagerly awaited construction in Philadelphia wrapped up two months ahead of schedule.
The facility consists of two state-of-the-art warehouse structures tailored for high-volume distribution.
The first is a 348,000-square-foot single side-load building designed for seamless operations. It has 60-foot speed bays, 40-foot ceiling heights, and 22 loading dock doors.
The second is a 411,000-square-foot cross-dock building, which will greatly improve logistics flow. It will have 125 trailer parking stalls and 50 loading dock doors.
Strategically located in the Bridesburg section of Philadelphia, the 67-acre site also integrates over 10 acres of riverfront greenspace.
The site benefits from its designation as a Qualified Opportunity Zone, so it acts as an attractive investment with a 10-year real estate tax abatement on building improvements.
The facility’s impact on the Bridesburg economy is expected to be substantial, as it will create new jobs and strengthen local businesses.
Dov Hertz, the driving force behind DHPH, emphasizes the site’s logistical advantages, pointing out that it is situated just two minutes from I-95, five miles from Philadelphia’s city center, and ten miles from one of the East Coast’s fastest-growing ports.
Completing this facility was a collaborative effort executed by a skilled team of industry leaders.
Mancini Duffy crafted the architectural vision, while Blue Rock Construction brought the plans to life.
Development partner Corebridge Financial also greatly impacted the project’s success.
DHPH has established itself as a powerhouse in the industrial real estate sector, focusing on primary and port-centric markets.
Since its founding in 2016, the firm has acquired over $2.1 billion in assets, encompassing more than 4 million square feet of Class A developments, 1.7 million square feet of infill industrial buildings, and over 50 acres of industrial outdoor storage across the Northeast and Mid-Atlantic regions.
