PHILADELPHIA, PA — Speed Bay Warehouse Solutions has entered the Philadelphia and Southern New Jersey industrial real estate market with the acquisition of an eight-building, 488,936-square-foot light industrial portfolio, expanding the Denver-based firm’s Northeast footprint.
The company announced the purchase of the Philadelphia Interstate Portfolio, marking its first acquisition in the Greater Philadelphia region and its first investment in the Northeast. Financial terms of the transaction were not disclosed.
The portfolio spans Burlington County, New Jersey, and Montgomery and Delaware counties in Pennsylvania. The properties are 89.6% leased and comprise 24 tenant suites averaging 20,372 square feet.
The acquisition advances Speed Bay’s strategy of acquiring multi-tenant, shallow-bay industrial properties in supply-constrained infill markets with strong demand from small and midsized businesses.
The buildings, constructed between 1972 and 2004, feature clear heights ranging from 17 to 33 feet and include both dock-high and grade-level loading configurations. Tenants represent industries including transportation, warehousing, manufacturing, health care and recreation.
Each property offers access to Interstate 95, Interstate 76 or Interstate 295, providing regional connectivity throughout the Philadelphia metropolitan area and the broader East Coast corridor.
Michael Moriarty, head of acquisitions at Speed Bay, described the Northeast as a strategic growth market because of limited industrial supply and dense population centers.
“This acquisition represents an important step in our expansion within the Northeast, a region we have identified as a strategic priority for investment given its dense, infill markets and constrained new supply,” Moriarty stated.
Founded in 2024, Speed Bay focuses exclusively on acquiring and operating shallow-bay, multi-tenant industrial properties. The company was established by Evan Zucker and Jimmy Mulvihill, founders of Black Creek Group, which was acquired by Ares Management (NYSE: ARES) in 2021.
Speed Bay is headquartered in Denver and maintains regional offices in Dallas, Atlanta and the Northeast, with additional personnel based in Philadelphia, Phoenix and Tampa.
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