Crow Holdings Development Acquires 2748 Grant Ave. in Philadelphia

Oline Construction, under the direction of its COO Bob Murray, is serving as the development’s general contractor. Other key partners include BL Companies and M+H Architects. “With a lack of other like-size, Class A facilities in the City of Philadelphia, we anticipate high demand for this new opportunity at 2748 Grant Avenue,” said Johanna Chervak, CHD vice president. “This building is exactly what the market is calling for, and we are excited to work with the talented development team that will bring it from concept to completion.”

CHD’s regional portfolio includes another Grant Avenue property, occupied by Amazon, and 14515 McNulty Road in northeast Philadelphia. Martin Brower signed a full-building lease for the 147,000-square-foot McNulty Road facility; its “spec to suit” construction will be completed this fall. “Crow Holdings Development is having clear success developing industrial properties in Philadelphia,” said Clark Machemer, senior managing director. “We are pleased to expand our footprint here with the acquisition of 2748 Grant Avenue; with limited new construction starts, this project demonstrates our ability to close on sites and execute developments.” Directly across the Delaware River in Burlington County, N.J., CHD is putting the finishing touches on the 294,000-square-foot Crow Holdings at 6A, 1804 River Road in Burlington Township. GMB North America already signed a 156,000-square-foot lease at the property, which will house its headquarters and North America distribution operation. Leasing interest remains strong for the balance of the Class A building.

Crow Holdings Development’s Northeast regional presence is well established. Its latest project highlights also include the recently completed Crow Holdings at Carteret in Carteret, N.J., with Golden Triangle Logistics Center in Wallkill, N.Y., under development. The firm has introduced more than 4.2 million square feet of new industrial inventory in the region since 2020 and currently has 1 million square feet of construction in progress across New Jersey, New York and Pennsylvania.  

Crow Holdings Development is the development platform of Crow Holdings, a privately owned real estate investment and development firm with more than 75 years of history, $33 billion of assets under management, and an established platform with a vision for continued success. The company specializes in multifamily and industrial development across high-opportunity markets in the United States, with a newly launched office development platform as well. Led by a highly experienced leadership team, the firm has developed more than 75 million square feet of industrial space since 2013.